TRX holders are set to enjoy a regular windfall over the next two years, as 10% of the total supply of JST is given away. The token, which was issued in a limited supply on Poloniex’s IEO platform at the start of the month, will be allocated to TRON users who hold a minimum balance of 100 TRX when each snapshot is taken. The first of these, scheduled for 00:00 UTC on May 20, will be followed by a distribution of 2.2% of the JST total supply.
A total of 9.9 billion JST tokens will ultimately be minted, but in the meantime they remain relatively scarce; the JUST LaunchBase sale on Poloniex sold out in four and a half minutes, and the supply of JST is currently limited to 396 million. This may account for why the token has performed so well on the secondary market, posting seven-day price growth of over 30%. Interest is expected to increase further once exchanges supporting the JST airdrop allocate it to TRX holders and open trading for it.
Not Just a Stablecoin
There has been some confusion over the role played by the JST token within the JUST ecosystem. This is to be expected of a network that is still very much in its infancy, and is not yet operational for its intended purpose. Once launched, JUST will form a decentralized ecosystem for stablecoin issuance which supports an array of secondary applications including lending. USDJ will operate as a USD-pegged stablecoin, leaving JST to serve as a complementary utility token.
JST will be used for interest payments, administration, and platform maintenance, while USDJ will be created using collateralized TRX. In this manner, the system can roughly be likened to MakerDAO’s DAI and MKR coins, with the latter sharing some characteristics with JST. TRON users who’ve yet to fully fathom the function of JST won’t be concerning themselves with this in the interim; ahead of the imminent JUST snapshot, they’ll be more concerned with maintaining a minimum wallet balance of 100 TRX to qualify.
The Evolution of Airdrops
Airdrops as a mechanism for token distribution have waxed and waned, with different approaches applied in a bid to bootstrap communities and generate network effects. The scattergun approach that defined the ICO era of 2017 saw tokens dropped into the wallets of Ethereum users, and was largely a failure in terms of generating traction. However, larger scale, more targeted airdrops have proven successful, notably the Stellar giveaway that was conducted for participating Blockchain.com wallet holders.
TRON’s two and a half year-long JST airdrop should sustain interest in the stablecoin network as it launches and begins to attract users. The decentralized stablecoin issuance and lending protocol will be governed with the JST token,, leaving USDJ to serve as the dollar-pegged stablecoin that will be created and issued through collateralized loans. Matters such as setting risk parameters and price oracles will be controlled by JST holders.
Before all that can occur, though, there’s an airdrop to be conducted. The maiden event will take place shortly after the TRX snapshot of account balances has been conducted, after which 217,800,000 JST will be distributed the same day. Poloniex, KuCoin, Bitpie, and Atomic Wallet are among the wallets and exchanges to have signaled their participation. JST is expected to be listed on additional exchanges in the coming weeks, giving the crypto community a taste of the decentralized ecosystem that is now forming under the banner of TRON.
The post TRON Users Gear Up for Two-Year JUST Token Airdrop appeared first on The Merkle News.
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