Just Network, Tron's Flagship Ecosystem

In the ever-evolving world of decentralized finance (DeFi), Tron is emerging as a hub of innovation and growth. At the forefront of Tron's surge is Just Network, accounting for nearly 90% of DeFi TVL on Tron.

This article will discuss what Just Network is and the features it offers. Let's take a look!

Breaking Down What Just Network Is

Just Network is not just a standalone protocol. Just Network is a complete platform that hosts a spectrum of closely related DeFi protocols on the Tron network.

With total crypto assets locked reaching nearly $13 billion by December 2023, Just Network becomes the premier destination for DeFi enthusiasts on Tron and bridges the network to the broader multichain crypto universe.

Operated and governed by its community, the network allows users to conduct transactions in a permissionless manner, eliminating the need for third-party approval.

The synergy between Just Network protocols enables the creation of sophisticated Dapps and strategies, to overcome DeFi barriers .

Just Network Key Features

Below are the various features offered by Just Network:

1. JustLend DAO

• A critical lending protocol within Just Network, JustLend DAO facilitates the supply of idle assets, earning interest, and gaining leverage by borrowing other crypto assets.
• Smart contracts set interest rates based on supply and demand, with lenders earning USDD rewards on top of the interest.
• Borrowers provide asset collateral, and loans are overcollateralized, with an automatic liquidation mechanism to protect the protocol from bad debt.
• Uses decentralized oracles, including Winlink, to ensure accurate real-time price feeds.

2. JST Token and JustLend DAO Governance

• JST, the native token, empowers the community to govern JustLend DAO, with holders inputting and voting on protocol-related issues.
• The DAO protocol operates through a governance module with transparent time-based procedures.
• Beyond governance, ANN has legal status and is critical to other protocols in the Just Network ecosystem.

3. JustLend Energy Rental

• Introducing the Energy Rental system to simplify the complexity of acquiring energy units on the Tron network, which is essential for transactions.
• Users can rent energy at affordable rates, with daily replenishment and the option to end the lease prematurely.

4. JustStable

• A stablecoin protocol that allows users to mint USDJ, a stablecoin held to US dollars, using Tron's TRX token.
• Integration with other protocols Just Network allows users to deposit USDJ for leveraged returns on JustLend DAO.

5. Just Cryptos

• A crossover protocol that connects Tron to other blockchains such as Bitcoin and Ethereum.
• Supports crossed assets, such as Bitcoin and Ethereum, which are stored on the Tron blockchain and can be transacted like regular Tron network tokens.
• The storage address for each crossed asset is publicly available and can be easily confirmed by anyone.

Conclusion

With fast transactions and minimal transaction fees, Tron Network provides an ideal environment for a growing DeFi ecosystem. Just Network, with its user-friendly protocol, serves as a gateway for both beginners and experienced crypto enthusiasts.

As the Just Network ecosystem expands, Just Cryptos emerges as a crutch, connecting Tron to the broader multichain space. Every part of Just Network's core offering, coupled with its interoperability, sets the stage for the next wave of DeFi products on Tron. Explore the future with Just Network, where innovation and community governance shape the decentralized finance landscape.

Also read:

What is TRC20?
What are Ethereum ERC-1155 Tokens?

What is Mainnet in Blockchain & Why is it Important?

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.