About USDJ (USDJ )
USDJ (USDJ ) TRON network offers varieties of quality assets, but most of them are not viable for everyday use because of their high volatility. USDJ is a new currency generated through decentralized smart contracts on the TRON network. Anyone can pledge TRX as collateral to generate USDJ. USDJ enters into free circulation as any other cryptocurrency does once generated. It is pegged to the US dollar through Collateralized Debt Positions (CDPs), and also has autonomous feedback mechanisms. USDJ Stablecoin is a USD-pegged cryptocurrency backed by collateral assets. We believe that USDJ will become an integral part of the TRON DeFi ecosystem.
USDJ (USDJ ) JUST Foundation has a vibrant and talented team. Half of the members of its tech team come from A-list Internet companies such as Alibaba, Tencent and IBM, and are veterans in product design and development. Financial analysts of JUST come from investment banks across the world, and its operations team is experienced in the blockchain industry. JUST is also a staunch supporter of the TRON ecosystem.
USDJ (USDJ ) Coin Storage Key Points
|Circulating Supply||14,848,771.67 USDJ|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Chat||Click Here To Visit|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Price Stability Mechanism
The starting Target Price of USDJ is pegged at 1.0 to the US dollar. In the JUST system, USDJ Target Price serves two main functions:
To calculate the debt-to-collateral ratio of the CDP
To determine the value of collateral assets that USDJ holders will receive upon Global Settlement.
In the event of market instability, a Target Rate Feedback Mechanism (TRFM) will be triggered to maintain the same denomination of USDJ. The Target Rate Feedback Mechanism is a process in which the USDJ Stablecoin System helps to adjust the Target Rate, so as to mobilize market forces to maintain the stability of USDJ price. The Target Rate determines the change of the Target Price, which incentivizes people to hold USDJ when the value is positive and lend USDJ when it’s negative. Such a feedback mechanism maintains the market price of USDJ around the Target Price, thus dampening the price volatility of USDJ and injecting liquidity during demand shocks
Global Settlement Mechanism
When the USDJ price that the system receives from Oracles deviates drastically from the US Dollar during a system attack or malicious control which causes intolerable risks within the system, global settlers designated by JST holders can trigger the Global Settlement Mechanism that is carried out in the following steps:
Global Settlement is activated
After Global Settlement is activated, CDPs can no longer be created or adjusted and the Price Feed will be frozen at a certain value to process all users’ claims.
Global Settlement claims are processed
Meanwhile, Keepers in the JUST system will auction the debt and collateral assets based on the fixed Price Feed in a decentralized way in order to process corresponding claims of all USDJ and CDP holders.
USDJ and CDP holders claim their collateral
After Keepers process all Global Settlement claims, each USDJ and CDP holder can submit a claim request on JUST to directly exchange their USDJ or CDPs for a fixed amount of TRX based on the Target Price of USDJ. No time limit is set as for when users can take this step.
Choosing a set of trusted Oracles JUST platform obtains the internal price of collateral and the market price of USDJ through decentralized Oracles. JST holders can control the number of Oracle nodes and designate specific nodes as trusted Oracles. The system operates safely as long as over half of the Oracles function properly.
Features & Advantages
Trust & Authorization-free Access and availability for everyone, free of authorization from third parties; all transactions are automatically executed by smart contracts, free of third party as a medium.
Standard & Interoperability Standardized financial protocol and contract-based DeFi factors. Protocols can be overlaid to create more potential scenarios.
Secure Users face minimal risks as financial business logic is implemented by smart contracts, with which on-chain actions are traceable and third-party audit can be strictly enforced.
Decentralization JST holders can jointly govern the JUST community and make decisions on incentives, pooling efforts for building the next-generation DeFi ecosystem.