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About USDJ

USDJ is a stablecoin that is pegged to the US dollar and backed by collateral assets. It is generated through decentralized smart contracts on the TRON network. The process involves pledging TRX as collateral to generate USDJ. USDJ is designed to play a role in the TRON DeFi ecosystem. It is part of the JUST DeFi ecosystem on Tron, which consists of JustStable and the JustLend DAO. The development of USDJ is overseen by the JUST Foundation, a team with experience from renowned tech companies.

To generate USDJ, one must deposit collateral assets into Collateralized Debt Positions (CDP) as part of the process. Users first convert TRX to PTRX. To generate USDJ, users carry out a transaction to JUST and create a CDP. Then execute another transaction in order to deposit PTRX, the collateral asset into that same CDP. When a CDP holder sends a transaction to create USDJ, the same amount of debt is also generated and collateral assets are locked up until repayment. USDJ also has a price stability mechanism in place. USDJ is initially pegged 1-to-1 to the US dollar. In times of market instability, a Target Rate Feedback Mechanism (TRFM) will be deployed to keep its denomination constant.

USDJ was developed with the intention of contributing to the DeFi ecosystem on TRON. As a stablecoin, it aims to provide stability in the often volatile cryptocurrency market. It can be used in a variety of DeFi applications, including lending platforms and decentralized exchanges. USDJ also has a global settlement mechanism that can be initiated by JST token holders to mitigate potential risks and damages. This mechanism, along with the risk-management program, makes USDJ aim to be a stable asset in the DeFi space.

USDJ is a product of the JUST network ecosystem, developed by the JUST Foundation. The JUST Foundation is a team with experience from renowned tech companies like Alibaba, Tencent, and IBM. The vision behind USDJ was to create a stablecoin that could contribute to the DeFi ecosystem on TRON. USDJ is a TRC-20 token issued on the Tron blockchain, which utilizes a delegated-proof-of-stake (DPoS) consensus mechanism. USDJ has a circulating supply.

Market

Market stats

Market cap

$169.9M

Volume (24h)

$258,126.33

Circulating supply

153.9M USDJ

All time high

$1.73

Market performance

Price change (1h)

-0.01%

Price change (1d)

-0.04%

Price change (1w)

-0.62%

Price change (2w)

-1.8%

Price change (1m)

-0.73%

Price change (1y)

-0.33%

News about USDJ

CoinDesk • May 09, 24

Grayscale Parent Digital Currency Group Reports $229M Revenue for Q1

Digital Currency Group (DCG), the parent company of asset manager Grayscale, reported a first quarter revenue up 11% from the previous quarter to $229 million.

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BeInCrypto • May 09, 24

Bank of America Says “Don’t Sell” Despite CPI Report: Crypto Impact

Bank of America advises investors not to sell before May's CPI report, highlighting persistent inflation and increased institutional interest in Bitcoin.The post Bank of America Says “Don’t Sell” Despite CPI Report: Crypto Impact appeared first on BeInCrypto.

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The Block • May 09, 24

Bitcoin-native application platform Arch raises $7 million led by Multicoin Capital

Bitcoin-native application platform developer Arch Labs has raised $7 million in a seed round led by Multicoin Capital.

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CoinDesk • May 09, 24

Crypto for Advisors: DeFi Yields, the Revival

Crews Enochs, from Index Coop, discusses the revival of DeFi Yields and D.J. Windle answers questions about DeFi investing in Ask an Expert.

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Blockworks • May 09, 24

Espresso partners with Polygon Labs to solve rollup interoperability

Espresso sequencing marketplace will enable efficient coordination and fast transaction finalization across multiple Ethereum layer-2s

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BeInCrypto • May 09, 24

Imminent Arrival of Stablecoins on Bitcoin, Hints Lightning Labs CEO

Lightning Labs is integrating stablecoins and tokenized assets into the Bitcoin network, supported by Bitcoin's Taproot upgrade, enhancing transaction efficiency and reducing costs.The post Imminent Arrival of Stablecoins on Bitcoin, Hints Lightning Labs CEO appeared first on BeInCrypto.

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Related Assets

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USDJ is on the decline this week.

The price of USDJ has decreased by 0.01% in the last hour and decreased by 0.04% in the past 24 hours. USDJ’s price has also fallen by 0.62% in the past week. The current price is $1.10 per USDJ with a 24-hour trading volume of $258.13K. Currently, USDJ is valued at 36.04% below its all time high of $1.73. This all-time high was the highest price paid for USDJ since its launch.

The current circulating supply of USDJ is 153,861,308.757 USDJ which means that USDJ has as total market cap of 153,861,308.757.

FAQ

What is the current price of USDJ?

We update our USDJ to USD currency in real-time. Get the live price of USDJ on Coinbase.

What is the market cap of USDJ?

The current market cap of USDJ is $169.86M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of USDJ?

The all-time high of USDJ is $1.73. This all-time high is highest price paid for USDJ since it was launched.

What is the 24 hour trading volume of USDJ?

Over the last 24 hours, the trading volume of USDJ is $258.13K.

What other assets are similar to USDJ?

Assets that have a similar market cap to USDJ include MANTRA DAO, Hive, Pandora, and many others. To see a full list, see our comparable market cap assets.

How many USDJ are there?

The current circulating supply of USDJ is 154 million.

Can I buy USDJ on Coinbase?

No, USDJ is not currently available on Coinbase, but you can sign up to get the latest news on USDJ and be notified when it gets added to our exchange.