All you need to know about the JUST airdrop
TokenPocket users can now trade the USDJ/TRX pair on Newdex. USDJ is a decentralized stable coin, which is used in the TRON-based lending platform called JUST. The JUST platform also comprises of another cryptocurrency called JST. Combined, these two cryptocurrencies form the economic backbone on which JUST promised to provide a fair Defi product.
In the cryptocurrency world, airdrops have proven to be an effective way to distribute and promote new projects tokens and boost user interest and engagement. For users, this provides a lot of value as well. They get free tokens and this serves as an incentive to hold the associated cryptocurrency. In this post, you’ll learn all that you need to know about the JUST airdrop.
- JUST is the first DeFi project on the TRON network aimed at providing a fair and decentralized stablecoin lending and governance mechanism for a global network of users.
- Anyone can generate USDJ through staking TRX. The price is pegged to the US dollar.
- JUST comprises of two tokens namely USDJ (a stablecoin pegged to the US Dollar) and JST which acts as the native platform token of the JUST ecosystem.
- Users can use JST for paying interest and participating in the governance of the JUST network through voting.
- TP users who hold TRX would be able to receive JST airdrop on the 20th of each month provided that they are holding at least 100 TRX before the snapshot date — May 20th (00:00 UTC).
- Based on the May 20th snapshot, JUST Foundation will initiate its first Airdrop of 217,800,000 JST, corresponding to 2.2% of the total supply of JST on the same date.
- The amount of JST received by each TokenPocket TRX holder would be determined by using the following calculation:
JST Airdrop Amount = [(TRX held by the customer during snapshot / Total TRX held by TokenPocket during snapshot) * Total JST received by TokenPocket]
- The airdrop will last for two and a half years.
- At first, the platform was called Djed, but Justin Sun decided to change the name to JUST.
- JUST has some similarities with MakerDAO.
- According to Justin Sun, the JUST platform aims to be “fairer and more decentralized” for the DeFi industry in order to attract new developers to TRON.
How to Participate
- Create a free Tron wallet on TokenPocket or import an already existing Tron wallet to the TokenPocket app.
- Swap BTC, ETH, and EOS, e.t.c into TRX or buy TRX in TPExchange.
- You need to hold at least 100 TRX to qualify for the airdrop.
- Make sure you complete the above steps before the snapshot date — May 20th (00:00 UTC).
- Eligible participants would receive their JST airdrops within two weeks after the snapshot date — May 20th (00:00 UTC). They would also receive a monthly airdrop of JUST, for two and a half years.
TokenPocket is a multi-purpose and multi-blockchain app that comprises of a wallet (TP Wallet), an exchange (TP Exchange) and a dApp browser, through which TP users can store and trade cryptocurrencies and gain secured access to decentralized applications on the major blockchains. TokenPocket currently supports Bitcoin, Ethereum, EOS, Tron, BOSCore, IOST, Cosmos, and Jingtum. More blockchains and cryptocurrencies will be supported in due time.