In the whitepaper, USDJ is described as a USD-pegged stablecoin backed by collateral assets, generated through decentralized smart contracts on the TRON network. "Anyone can pledge TRX as collateral to generate USDJ." It is reportedly pegged to the US dollar through Collateralized Debt Positions (CDPs), and has autonomous feedback mechanisms. The vision behind USDJ is to make it an integral piece of the DeFi ecosystem on TRON.

USDJ is part of the JUST DeFi ecosystem on Tron, which consists of JustStable and the JustLend DAO.

USDJ is a product of the JUST network ecosystem. It is developed by the JUST Foundation, which consists of a vibrant and talented team with experience from Alibaba, Tencent and IBM.

As laid out in its whitepaper, 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. Thereby, making that particular asset unavailable for redemption.

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.

When the USDJ price received from Oracles is different from the real US Dollar rate, JST token holders can initiate a global settlement mechanism to mitigate any potential risks and damages; this process comes in three steps:

First, the global settlement mechanism is activated after which CDP holders are unable to create or modify their positions. Meanwhile, the price feed will be preserved at a fixed value in order to process all users' claims accurately and promptly.

Second, keepers in the JUST system will use a price feed to auction off all debt and collateral assets in a decentralized manner, thus granting settlement for USDJ and CDP holders' claims.

Subsequently, to Keepers handling Global Settlement claims, all USDJ and CDP holders can file a claim petition on JUST in order to exchange their USDJ or CDPs for an unchanging quantity of TRX depending upon the Target Price of USDJ. There is no deadline set as far as when users must take this step.

The USDJ stablecoin system is also equipped with a comprehensive risk-management program. JST holders who are part of the JUST governance system fully control the key decisions to regulate risks in the entire ecosystem. These steps include modification of sensitivity parameters through the Target Rate Feedback Mechanism (TRFM), modification of Target Rate, choosing trusted oracles, and other security mechanisms outlined in the official whitepaper.

At the time of writing, there are a total of 273,293,162 USDJ in circulation.

USDJ is a TRC-20 token issued on the Tron blockchain. TRON is secured by a delegated-proof-of-stake (DPoS) consensus mechanism, which uses a network of 27 super representatives (SRs) to verify transactions and package them into blocks. These Super Representatives are voted into position through an open election.

USDJ can be purchased on various centralized exchanges such as Kucoin, Huobi, Poloniex, and MEXC. USDJ is also available for trading through a decentralized exchange, such as Sunswap V2.

Keep track of USDJ prices live with the CMC mobile app.

The all-time high of USDJ was 1.73 USD on 2023-01-14, from which the coin is now down 36.41618497109826%. The all-time high price of USDJ (USDJ) is 1.73. The current price of USDJ is down 36.41618497109826% from its all-time high.

As of , there is currently 129.39M USDJ in circulation. USDJ has a maximum supply of 0.

The current market cap of USDJ is 142.00M. It is calculated by multiplying the current supply of USDJ by its real-time market price of 1.10.

The all-time low of USDJ was 0.77836022 , from which the coin is now up 41.322741288088956%. The all-time low price of USDJ (USDJ) is 0.77836022. The current price of USDJ is up 41.322741288088956% from its all-time low.

USDJ (USDJ) has a market capitalization of $142.00M and is ranked #473 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze USDJ (USDJ) price trends and patterns to find the best time to purchase USDJ.