LaunchBase, a TRON-backed IEO platform, facilitates token issuance and payments using Tron (TRX). Launched by Poloniex on April 5, 2020, LaunchBase serves as the exchange’s dedicated platform for Initial Exchange Offerings (IEOs). Similar to Binance Launchpad, Huobi Prime, OKEx JumpStart, and KuCoin Spotlight, LaunchBase provides Poloniex with a platform to host and manage its own IEOs.
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The Purpose of LaunchBase
LaunchBase’s mission is to support promising blockchain projects that are relatively unknown to the broader crypto community. Poloniex, LaunchBase, and the Tron Foundation collaborate to provide expert guidance and assistance to these nascent projects, encompassing marketing and operational management. This platform offers emerging projects access to a combined community of millions of users across Poloniex, LaunchBase, and Tron. JUST, a decentralized lending platform, was the first project to be supported on LaunchBase. We will delve into the specifics of this project below.
What is JST Coin?
JST is the native token of the JUST platform, a decentralized lending protocol built on the TRON blockchain using the TRC-20 standard.
Understanding the JUST Lending Platform
The JUST platform is a decentralized stablecoin lending platform structured similarly to MakerDAO. JUST utilizes two tokens: USDJ and JST.
- USDJ: A stablecoin pegged to the US dollar (1 USDJ = 1 USD), similar to DAI.
- JST: Used for interest payments, platform maintenance, and network governance.
Users can collateralize TRX to borrow USDJ. Additionally, users can sell USDJ for TRX or JST.
Further Reading: What is Tron (TRX)? A Comprehensive Guide
How JUST Works
- To borrow USDJ on the JUST platform, users must own TRX.
- Users deposit TRX into the JUST platform.
- JUST locks the TRX and sends USDJ to the user’s wallet. Collateralization is required at 150% of the loan value.
- To redeem their TRX, users must repay the borrowed USDJ plus a fee paid in JST.
Example: If you deposit $1500 worth of TRX into JUST, you can borrow 1000 USDJ (1 USDJ = $1).
Note: If a user’s collateral falls below a predetermined liquidation ratio, the collateral will be sold to repay the debt, and the user will incur a 13% penalty on the loan amount. The JST used to pay fees is burned by the smart contract.
JST Coin: Key Information
- Ticker: JST
- Blockchain: TRON
- Token Standard: TRC-20
- Token Type: Utility Token
- Total Supply: 9,900,000,000 JST
- Initial Circulating Supply: 396,000,000 JST
JST Token Allocation
With a fixed total supply of 9.9 billion tokens, JST’s allocation is divided into five segments:
- Ecosystem: 2.97 billion JST
- Partnerships: 2.574 billion JST
- Team: 1.881 billion JST
- Seed Sale: 1.089 billion JST
- Airdrop: 0.99 billion JST
- IEO: 0.396 billion JST
JST Token Sale
The project conducted a Seed Sale in February 2020:
- All tokens were sold, raising over $3 million.
- Seed Sale price: 1 JST = $0.003.
On May 5, 2020, the project launched its IEO on LaunchBase:
- IEO allocation: 396 million JST
- Initial IEO price: $0.00202
- Expected to raise approximately $800,000.
Further Reading: What is an IEO? A Comprehensive Guide to IEO Investing
Use Cases of JST Coin
JST is the utility token of the JUST platform and serves the following purposes:
Governance: JST holders have the right to participate in the governance of the JUST system. By voting within the community, JST holders can influence decisions and control the platform’s operations.
Interest Payments: JST is used to pay interest to individuals holding JST tokens within the system. It is also used to pay interest upon maturity of USDJ loans on the JUST platform.
Gas Fees: JST is used to pay transaction fees on the JUST platform and penalties when collateral falls below the predetermined liquidation ratio.
JST Coin Wallets
As a TRC-20 token, JST can be stored in TRON wallets. Alternatively, it can be stored on reputable exchanges that support JST trading.
JST Coin Trading
According to information on various forums, JST will be traded on Poloniex. Currently, JST is not yet traded on any exchange.
The Future of JST Coin
As a decentralized finance (DeFi) platform, JUST faces competition from other blockchain projects like MakerDAO and Constant. The project needs to offer compelling incentives to users and implement robust marketing strategies to increase awareness and adoption.
Further Reading: What is Aurox (URUS)? Detailed Information about URUS Token
Should You Invest in JST Coin?
By now, you should have a comprehensive understanding of JST. JUST is a relatively new platform. With the support of Poloniex, LaunchBase, and TRON, the project has the potential for significant growth.
