STEEM & JUST Partnership and Resteem, Retweet Challenge!
Dear Steemians,
Over the past few months, we have seen the continuous progress of Steem. For Steemit, we are getting increasingly more people enjoying and engaging in their favorite Steemit community, and especially the 1000 Days of Steem. We also launched a free signup system that is bringing more Steemians to access Steemit more easily. We maintain product stability and continue improve overall user experience.
STEEM & JUST PARTERSHIP
Today, Steem would like to announce amazing news for our community: Steem and JUST have reached a strategic partnership in building a better and even more awesome blockchain platform. Steem/Steemit has been exploring DeFi Ecosystem for a long time and with the help of the JUST Project, we are really making progress in the DeFi sphere today. We will work together, explore and witness the endless potential of Steem.
We will start a resteem and retweet challenge soon, keep following @steemitblog and Steemit Twitter for the latest update. Follow @just-defi on steemit for the latest news about JUST Ecosystem.
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About JUST
JUST aims to build a fair and decentralized financial ecosystem that provides stable coin lending and governance mechanisms for users around the world. All transactions, collateralization, and governance are transparent and executed on-chain. JUST is built on the TRON Network, the largest decentralized application ecosystem, and aims to provide a set of easy-to-use and transparent financial services for users worldwide.
Any user can mint USDJ automatically via JUST’s ecosystem of smart contracts by locking their TRX in collateralized debt positions (CDP) in the form of pooled TRX (PTRX). To mitigate against price fluctuation risks, over-collateralization of PTRX is required. The over-collateralization ratio is currently set at 150% and can be changed by a vote of the community. If the value of the collateral falls below the predetermined liquidation ratio, the collateral is sold to pay off the debt, and an additional liquidation penalty (currently 13%) is charged.
JST is the governance token for the JUST network. By participating and voting in community proposals, JST holders have decision-making power over the JUST lending platform and can control the operations of the JUST network. In addition, JST can be used to pay interest on a CDP, in which case the paid JST will be burnt automatically by the smart contract.
This is actually huge news as defi is just hot and trending. Very curious about what extend the partnership is.
Will we be able to use STEEM or SBD as collateral on the https://just.tronscan.org/#/home? Create a CDP with STEEM instead of TRX? Can we swap our STEEM tokens to JST/TRX? Will the USDJ replace SBD as a stable coin?
Many questions and we can not wait to be involved in this!
Congratulations on the Partnership, this is great and I am suddenly even more bullish! #tron & #steemnetwork building a better digital financial future for all of us!
👆I have these same questions!🙄
If we could create wrapped Steem or wSteem and borrow against its value we could increase buying pressure and reduce selling of wrapped Steem due to contract length and this could raise the price, which raises the market cap, raises our Coin Market Cap ranking and which in turn raises investor interest, which starts this cycle again slowly pushing the price and ranking upward! 🚀
Very interesting! I obviously like the way you think!
Great news! I have retweet and tweet and like the tweet about this tweet post on twitter.
This partnership sounds exciting especially its about Defi that everyone talking about now on crypto. Defi is the future, cancel the bank. 😄
I agree with this🙄👆!
I love it!
Steem keeps bringing in amazing innovations, and partnerships like this which helps to improve the decentralised financial mechanisms for users all over the world is just fantastic!!
This sound great..!
Hey @steemitblog & @steemcurator01 ,
This is really an great news so translated this news into Hindi for Indian community:- STEEM & JUST partnership and resteem, retweet challenge!- Hindi translation
This is such a great news,very exciting, steem all the way👻👻
This is really great news, the Steem & Just Defi partnership. We are looking forward to create a formidable and stabilize Decentralization that would help content creators. We will also help in the resteem & resteem and retweet. Thanks for this great news, Steemit Team!
I agree that this would be great for our community. Good publicity for Tron & Steem, plus affordable DeFi readily accessible to a large group.