MXC AMA Recapitulation-JST

Guest: TRON Founder and BitTorrent CEO,JUSTIN SUN

Host: Molly

Introduction:

JUSTIN:

kay! Let me start with what JUST is. JUST (JST) is a decentralized stablecoin lending platform.It allows users to collateralize TRX in CDPs on JUST to generate a stablecoin called USDJ, which is pegged at 1:1 to USD.The other token, JST, is used for paying the lending interest, participating in platform governance and using other features on blockchain. The USDJ minted from the TRX collateral is at users' free disposal.

Questions from community:

Molly: Q1. How about JST's circulation, release schedule and valuation?

JUSTIN:

JST will be listed on major exchanges in the secondary market. I’m very optimistic about JST’s circulation, especially considering its function as a governing token.On top of that, JST is very much undervalued compared with its issuing price 0.00202 USD at LaunchBase, which leaves huge room for appreciation.You can check out JUST research report on Poloniex LaunchBase or go to Tronscan explorer for JST circulation amount and plan. Valuation-wise, lending plays a big role in DeFi and any network who acquires a large user base in stablecoin lending will win over a large number of users and take a share in related ecosystems. That’s why I have high hopes for JUST (JST) and offered financial and technical assistance to them.

Molly: Q2.What drives the demand for JST token and what makes its value? What will motivate users to hold JST?

JUSTIN:

On the one hand, users can use JST tokens to repay the stability fee incurred during the USDJ lending process;on the other, JST holders can vote for one or more proposals as their suggestions to the platform.This mechanism ensures that JST holders fulfill their duties and manage the platform in a fair and just manner.

Molly:Q3.What differs JUST Network from platforms like MakerDao and Compound? What advantages does it have?

JUSTIN:

First of all, JUST owns an equally massive user base as MakerDAO and Compound do, and the user engagement on our platform is as good as The DAO's.I feel that JUST outperforms the other two in terms of UI design and functions, so it's faster and easier to use.Powered by high TPS and free transfers on TRON, JUST Network allows users to enable/disable the CDP lending platform with only a few clicks and charges only a stability fee.

Molly:Q4.What caused the recent frequent token-stealing on DeFi platforms? What safety and risk control measures does JUST Network take to prevent hacking?

JUSTIN:

Hackers attack DeFi platforms usually by exploiting loopholes in the lending protocol or compatibility issues between tokens and chains.Currently, the only collateral supported by TRON-based JUST Network is Pooled TRX, a special TRC20 token that is immune to the reentrancy attacks suffered by ERC777 token.In addition, JUST is planning to add more collaterals in the future, and all new collaterals will be subject to stringent review so as to avoid imBTC-like incidents where loopholes can be exploited.I am fully convinced that TRON will leverage its edge in decentralization and safety to better survive hacking activities.

Molly:Q5.What's the market like for DeFi? And how about the overall market size and its growth outlook?

JUSTIN:

Open finance might be a better defining character of DeFi: a market that is open to everyone, either as a capital supplier or debt bearer.A device with access to the internet and some digital currency are all it takes to take part in DeFi, and participants are free from identity check.Capitals are highly progressive in DeFi and are betting on the unfolded potential of the industry.

In the eyes of investors, DeFi is a field where existing visions can be delivered in a long run.What differentiates DeFi from enterprise application chains is that DeFi products are end-user oriented. If their bet is correct, it's feasible to replicate the successful model of an existing internet product when traffic on DeFi really takes off.This may be the logic behind investors' bets.

However, DeFi is now highly valued with only a few users.In reality, DeFi is only adopted by a small number of users. According to third-party statistics, users on all existing DeFi products add up only to 10,000, which is paled beside the millions of users on wallets.Currently, the widely-popular MakerDao boasts around 6000 users with a collateral worth $400 million, against a total of $550 million or so DeFi crypto collaterals.Likened to an Internet-based product, DeFi is still in its infancy stage.

MakerDao has been valued over $730 million (measured by MKR). This year's funding for DeFi industry included, the overall valuation of DeFi on Ethereum exceeds $1 billion.

Molly:Q6..What will DeFi market be like in the future? What changes will it bring? How is JUST Network going to participate?

JUSTIN:

I have said on many occasions that DeFi sits at the center of TRON’s strategy this year.

In fact, our first step towards DeFi was taken a year ago when, for example, Tether issued the TRON-based TRC20-USDT stablecoin, whose circulation is about to pass the $800 million mark.The stablecoin has attracted a large number of users with its speedy service and zero transfer fee.

A more recent project built on TRON public chain is Pool-X decentralized mining pool hatched by Team KuCoin. Pool-X delivers both Staking benefits and high liquidity. The team’s choice of TRON was made out of its deep trust in us.

Molly:Q7.Will we be seeing a boom for DeFi? When and how will such a boom come about?

JUSTIN:

I believe we will. This is also why we're mapping our layout for DeFi so fast. As Bitcoin finishes halving later this year, I think there will be a boom for DeFi.

Free-asking Session

Q1.JUST is a great hit as far as we know, Mxc Space M with $JST will launch soon. Let me ask, What are your thoughts behind supporting a stablecoin lending platform like JUST on TRON?@MIVQ_3

JUSTIN:

This year for TRON is going to be a year of DeFi.A lot of people are thinking that TRON is only for gaming and gambling Dapps and JUST is going to prove everybody that this wrong! We support all of our community regardless of what they want to build on our blockchain.

JUST is only an example of how everything should be done and we welcome more DeFi developers to our platform to whom we will provide our full support. Thank you.

Q2.Where does JST get profit from running the project?What are the features that distinguish JST from other similar applications?@JooDLV

JUSTIN:

TRON needs a stablecoin like USDJ that maintains its value by staking TRX. And by other application I would guess you mean MakerDao. In this respect, the same course taken by TRON and Ethereum justifies the similarity in the design of JUST and MakerDAO from the moment the two projects took shape - to create a stable digital currency pegged at 1:1 to USD through overcollateralization of the basic currency in the ecosystem.

But in terms of the ecosystem, TRON’s is younger, more energetic and imaginative. The new-born JUST can also avoid problems that MakerDAO has exposed. In this sense, JUST will surpass MakerDAO. We believe that JUST has the potential to attract more community members to build TRON’s DeFi ecosystem and share the benefits.

Q3.Can you share with us some of the future plans, such as the marketing development plan and recent activity plan for the JST team?@luyen1980

Thank you for the question. Right now I can share the whole roadmap we have set. But we would definitely listen to community and implement the stuff they want to see on JUST.

JUSTIN:

Thank you for the question. Right now I can share the whole roadmap we have set. But we would definitely listen to community and implement the stuff they want to see on JUST.

Q2 2020

OpenPlatform: release developer SDK and API doc

USDJ on multiple-exchanges, multiple-pair

JST Launchbase

Q3 2020

USDJ & JST on decentralized exchanges

Support DApp on TRON Network with USDJ integration

JUST Forum & chatroom

Deliver one USDJ derivative DeFi product

Q4 2020

Release JUST 2.0

Support multi-collateral assets