JustLend Now Live - TRON's First Official Lending Platform to Redefine the Decentralized Lending System
Digital assets connect every user in the blockchain ecosystem. With the robust development of TRON and the entire community, both volume and variety of transactions are seeing an exponential growth that points to the demand for more precise and diverse decentralized financial services.
JustLend, the first TRON-powered lending platform, is the answer to that demand.JustLend devises a unique method to provide comprehensive, easy-to-use and decentralized digital asset financial services where trust is no longer an issue.
JustLend, the first TRON-powered lending platform, has officially been launched on December 7, 2020. Users can now access via: https://justlend.org and https://justlend.just.network.
What is JustLend
JustLend is a TRON-powered money market protocol aimed at establishing fund pools whose interest rates are determined by an algorithm based on the supply and demand of TRON assets. There are two roles within the protocol, namely the depositor and borrower. Both of them can directly interact with the protocol to earn or pay the floating interest rate.
JustLend will first accept TRX, USDT, USDJ, SUN, WIN, BTC, JST and WBTT as collateral for loans. Meanwhile, JustLend allows smart contracts for TRX, BTC, SUN, JST, WIN, WBTT, USDT and USDJ to distribute jTokens that correspond to underlying assets to users’ accounts at the exchange rate.
JustLend lending protocol and the platform provide participants with different incentives, for example:
● For borrowers: sell short an asset or borrow the right of use
● For lenders: earn interest on assets
Compared with traditional financial products, custodian-free decentralized protocols enjoy the following promising edges:
● Transparency & effective pricing based on market demand
● Fast and convenient lending
● Immunity to censorship & immutability
Supplying assets on JustLend
On peer-to-peer platforms where borrowers are matched with lenders, a user’s asset is directly lent to another. By contrast, JustLend protocol pools the supply of each user, which drives up liquidity and strikes a better monetary balance. Suppliers can withdraw their assets anytime without having to wait for a specific loan to expire, allowing JustLend a much higher liquidity than their peer-to-peer counterparts.
Assets supplied to a market are denoted as jToken (a TRC-20 token balance). Token holders can acquire corresponding jToken by supplying and abide by relevant rules to earn interest.
Borrowing assets on JustLend
If users (borrowers) wish to borrow an asset on JustLend, they need to first acquire jTokens as collateral through depositing tokens, and then borrow any available asset on the platform. Unlike peer-to-peer protocols, JustLend only asks borrowers to specify the borrowing asset with no other requirements such as the expiry date. Borrowing is executed real-time, and its interest rate will be automatically adjusted based on the market’s supply and demand. Here’s an example: the interest rates for borrowing TRX and TRC20-USDT might be 2% and 5% respectively. Different assets have varying interest rates, which are automatically calculated according to the market’s supply and demand.
Strengths of JustLend
● On JustLend, tokens from the TRON family can be used as collateral for higher rewards.
● An open and transparent lending environment, quick response and low fees all make it easier for users to use JustLend.
● Decentralized lending in the TRON ecosystem will also inject confidence to the TRON DeFi ecosystem, and this low-risk borrowing by staking TRON assets will introduce a new way of financial management to TRON users.
● Powered by the superior speed of the TRON network, JustLend is able to provide loans in seconds.
JustLend, TRON’s first official lending project, is built on the high-performing TRON network with a TPS far outperforming Ethereum and hundred times higher than that on existing mainstream lending platforms. With JustLend, an unprecedented financial service for users and even all mankind is on the horizon.JustLend marks the world’s first financial infrastructure that’s aimed at establishing a trust-based Internet system for billions of users worldwide. It lowers the cost of trust, and enables smooth and border-free circulation of crypto assets.
JustLend, the first official lending platform of TRON, will be an unstoppable super-decentralized global financial marketplace in 2021, transforming the real-world finance with the decentralized block world.
Community
Welcome to the JUST ecosystem community!
Weibo: @JUST中文社区 https://weibo.com/u/6442506719
Wechat: Add “justnetwork” as a contact to join the JUST Chinese WeChat community
Twitter: twitter.com/DeFi_JUST
Telegram: t.me/officialjustlend
Websites: justlend.org; justlend.just.network
About JUST
JUST is the first DeFi project on TRON, which aims to build a TRON-powered stablecoin lending platform. It is also the first project on LaunchBase under Poloniex, the world-leading digital asset exchange platform with the world’s top 3 trading volume.
JUST features a dual-token system.The first token, USDJ, is a stablecoin pegged at 1:1 with USD. It is generated by pledging TRX at CDP on JUST. JST, the other token, is used for paying interest, platform maintenance, voting to participate in governance and other campaigns on JUST.
About TRON
TRON is committed to promoting the decentralization of the Internet and is dedicated to building the infrastructure for a decentralized Internet.The TRON Protocol, one of the largest blockchain-based decentralized operating systems in the world, offers scalable, high-availability, and high-throughput support that serves as the foundation for all decentralized applications in the TRON ecosystem.The Protocol also uses an innovative, pluggable smart contract platform to improve compatibility with Ethereum smart contracts.
In July 24, 2018, TRON acquired BitTorrent Inc., an internet technology company based in San Francisco.The distributed technology designed by BitTorrent Inc. is smart and highly scalable, and keeps creators and consumers in control of their content and data.Over 170 million people use BitTorrent products every month.BitTorrent Inc.’s protocol delivers 40% of the world’s Internet traffic every day.
JustLend Team
December 7th, 2020
