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.

Check out Tron (TRX) — a decentralized blockchain-based operating system developed by the Tron Foundation and launched in 2017.

Read about JUST (JST) — a leading DeFi ecosystem on Tron.

Check out our deep dive into Tron.

Learn more about DeFi with CMC glossary.

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 BYDFi, 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.

USDJ is a USD-pegged stablecoin backed by collateral assets, generated through decentralized smart contracts on the TRON network. It allows anyone to pledge TRX as collateral to generate USDJ. The goal of USDJ is to become an integral part of the DeFi ecosystem on TRON.

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

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

To generate USDJ, users must deposit collateral assets into Collateralized Debt Positions (CDPs). They convert TRX to PTRX and create a CDP by executing a transaction to JUST. Then, they deposit PTRX as collateral into the same CDP. When creating USDJ, an equivalent amount of debt is generated, and the collateral assets are locked until repayment.

USDJ maintains price stability by using a Target Rate Feedback Mechanism (TRFM) to keep its value constant during market instability.

USDJ has a unique global settlement mechanism that mitigates risks and damages. It involves three steps: activating the global settlement mechanism, auctioning off all debt and collateral assets through keepers, and allowing USDJ and CDP holders to file a claim petition to exchange their assets for TRX based on the Target Price of USDJ.

The USDJ stablecoin system also includes a comprehensive risk-management program controlled by JST holders, which allows for the modification of sensitivity parameters, choosing trusted oracles, and other security mechanisms.

Currently, there are 273,293,162 USDJ coins in circulation.

USDJ is a TRC-20 token issued on the Tron blockchain, which is secured by a delegated-proof-of-stake (DPoS) consensus mechanism. The network relies on 27 super representatives (SRs) who verify transactions and package them into blocks through an open election process.

USDJ can be purchased on centralized exchanges such as BYDFi, Huobi, Poloniex, and MEXC. It is also available for trading on the decentralized exchange Sunswap V2.

You can track USDJ prices live with the CMC mobile app.