JUST Foundation Set to Distribute First Wave of JST Airdrop
Tuesday, May 19, 2020 11:00 AM
SAN FRANCISCO, CA / ACCESSWIRE / May 19, 2020 / JUST Foundation, the organization behind the recently unveiled JUST decentralized lending and stablecoin issuance platform, will be distributing the first wave of JUST (JST) tokens as part of a multi-year airdrop to TRON (TRX) holders.
JUST Network is a stablecoin lending platform built on TRON. Through JUST, users are able to obtain loans in the form of USDJ tokens-a USD-pegged TRC20 stablecoin-by putting up TRX coins as collateral to form a collateralized debt position (CDP) with the JUST smart contract.
JST represents the native governance token for the JUST platform, allowing holders to vote on changes to the JUST Network and pay interest on their USDJ loans. JST used for paying stability fees will be burned and removed from the circulating supply, thereby increasing the scarcity of any remaining JST tokens.
The airdrop will last for two and a half years in total, throughout which a total of 10% of the total JST supply will be distributed to TRX holders.
The snapshot for the first wave of the airdrop will be taken at 00:00 UTC on May 20th, and the first 217,800,000 JST will be distributed to eligible addresses on the same day-defined as any TRON address holding 100 TRX or more at the time of the snapshot (regardless whether frozen or not).
Delivery of the airdropped tokens may take up to 72 hours, depending on the number of recipients, network load, and other factors.
The remaining tranches will be distributed periodically, based on the following schedule:
- 237,600,000 JST, equivalent to 2.4% of the total supply will be distributed over 12 months, beginning June 20, 2020, and ending May 20, 2021.
- 257,400,000 JST, equivalent to 2.6% of the total supply will be distributed over 12 months, beginning June 20, 2021, and ending May 20, 2022.
- 277,200,000J ST, equivalent to 2.8% of the total supply will be distributed over 5 months, beginning June 20, 2022, and ending October 20, 2022.
The snapshot for each airdrop will be captured at 0:00 UTC on the 20th of each month. TRX holders will need to ensure their coins are secured in a wallet or on an exchange that supports the airdrop, these include Poloniex, KuCoin, Bitpie, Atomic Wallet, and several more.
Besides being distributed as part of the airdrop, JST tokens will also be made available on a wide range of third-party exchanges, including Poloniex, Bitpie, and MXC-with more to come in the near future.
JUST is a new decentralized lending protocol launched by the JUST Foundation on the popular TRON blockchain.
The platform aims to provide a fair, community-governed stablecoin lending platform with smart-contract enforced security. The native token of JUST is the USDJ stablecoin, a US-pegged stablecoin that is collateralized with TRON (TRX) coins. Governance of the platform is undertaken by JUST (JST) token holders, who act to select price oracles, adjust risk management parameters, and set the target rate to protect the network against risks.
Comprised of a heavily experienced team including individuals from A-list tech companies including Alibaba and Tencent, as well as from world-class investment banks, the JUST Foundation is well-equipped to maximize the potential of JUST and deliver the first TRON DeFi project to a broad user-base.
JUST Network: https://just.network/#/
JUST Telegram: https://t.me/just_defi
USDJ Stablecoin Whitepaper: https://www.just.network/docs/white_paper_en.pdf
Contact for TRON:
Ryan E. Dennis