In this thread I’ll discuss
-JustLend Protocol Overview
- Financial metrics of JustLend
- Use Case and Governance
- Tokenomics
- Protocol Safety
PROTOCOL OVERVIEW
JustLend is a TRON- powered money market protocol aimed at establishing fund pools whose interest rates are determined by an algorithm that is based on the supply and demand of the TRON assets.
There are two roles within the protocol, namely supplier and borrowers. Both of them interact directly with the protocol to earn or pay floating interest
On JustLend, each money market corresponds to a unique TRON asset such as TRX, TRC 20 stablecoin (e.g USDT), or other TRC - 20 based tokens, and entails an open and transparent ledger that records all transactions and historical interest.
Features of JustLend Protocol
- Fund supply: JustLend adapts the idea of money market fund pools, with different underlying assets corresponding to their market
- Matching: orders are matched by smart contract automatically, there is no need for suppliers and borrowers to negotiate interest rates, loans, and terms
- Interest accrual: interest accrues as each block is generated on TRON ( which takes around 3 seconds)
- Lending: lending is executed in real-time, and suppliers can enjoy interest without any action as long as they hold broken
- Repayment: borrow and repay as you go
- Supplier and borrowing interest rate: The floating interest rate is automatically calculated by JustLend smart contract based on market supply & demand
- Liquidation: if the borrower’s collateral value falls below the liquidation threshold, JustLend smart contract will automatically trigger liquidation
FINANCIAL METRICS
Total supply: $4, 006,466,620
Total borrowed: $109,165, 757
Suppliers - 27, 189
Borrowers 3,204
Market break down
-For the TRON token they've been a total supply of $42.39m & a total of $12.71m borrowed. Supply yield 4.60%, borrowed interest rate 10.64%
- For USDD stablecoin they've been a total supply of $242.44m & a total of $5.74m borrowed. Supply yield 4.66%, borrowed interest rate 2.13%
-For USDT stablecoin they've been a total supply of $235m & a total of $69.79m borrowed. Supply yield 0.91%, borrowed interest rate 4.85%
- For SUN tokens they've been a total supply of $6.73m & a total of $120.61k borrowed. Supply yield 10.97%, borrowed interest rate 6.99%
- For BTT tokens they've been a total supply of $8.74m & a total of $4.05m borrowed. Supply yield 19.60%, borrowed interest rate 12.56%
- For the NFT(APENFT) token they've been a total supply of $3.73m & a total of $709.95k borrowed. Supply yield 16.13%, borrowed interest rate 9.13%
USE CASE AND GOVERNANCE
Use case;
JustLend protocol allows users to hold new assets seamlessly without having to sell tokens or go to various exchanges. This opens users, developers, and traders to various forms of trading
Governance;
The Governance of JustLend is implemented through voting for proposals. $JST can be used for community governance of JustLend & the holders may submit proposals on the JustLend protocol or vote for them
The following right in the protocol is controlled by the admin:
- The ability to open/close/enable a money market
- The ability to update the interest model for each market
- The ability to update the Oracle address
TOKENOMICS
Supply
Market cap $246, 135, 409
Circulating supply 8, 902, 080, 000
Total supply 9, 900, 000, 000
Demand
The JST token’s main use is for governance, it gives its holders the right to vote for or propose an upgrade to the protocol.
PROTOCOL SAFETY
- Smart contract and team: The smart contract can be easy to find, with an active primary contract and the team is anonymous.
- Documentation: There is a public white paper, a well-documented software architecture, and a possibility to trace the documented software to its implementation.
- Testing: The protocol has its tested code deployed and was deployed on the testnet
- Security: The protocol is sufficiently audited.
- Admin & control: The protocols admins control information isn’t easy to find, with a well-labeled contract as upgradeable
- Oracle: The protocol’s oracle is efficiently documented.
Final Thought (Conclusion)
JustLend a TRON money market protocol stands out to be one of the top protocols with strong liquidity, it serves well for those who are familiar with the TRON ecosystem.
Although there is no proof of how the protocol should develop over time.
So I trust the team behind it should work around growing the protocol.
