Peer-to-Peer Trading Platform CryptoLocally announces USDJ and JST support
Our desire to bring financial inclusion to everyone has inspired us to develop and launch our first decentralized financial (DeFi) project called JUST. Just is a decentralized stablecoin lending platform where TRX holders can participate in the issuance and governance of USDJ. USDJ is our new stablecoin cryptocurrency backed by TRX whose value is tied to the price of the US dollar. JUST (JST) is the protocol and governance token of the JUST Network. Holders of JST tokens will be able to vote on issues related to the proper operation of the decentralized stablecoin issuance platform.
Despite just being released, the two tokens have already been listed among the leading cryptocurrencies on some exchanges including Poloniex which listed USDJ as one of its base USD currencies and recently, the P2P trading platform CryptoLocally announced its support for both digital assets.
What are USDJ and JST?
USDJ is our US dollar-pegged stablecoin built on top of the TRON blockchain. It is similar to USDT-TRC20 in that its value is tied to the US dollar but is issued quite differently. USDT-TRC20 is created and backed with fiat U.S. dollar reserves while USDJ is issued through a decentralized lending platform to create collateralized debt positions (CDPs) backed by cryptocurrencies. USDJ is part of a growing category of digital assets designed specifically to counter the volatility risk associated when using cryptocurrencies.
This digital asset is our first natively developed stablecoin and is a much more compatible cryptocurrency for daily transactions. Like any other TRON-based token it will feature fast, efficient, and almost free transfer services. It will be part of TRON’s premium digital assets and will play an essential role in the development and growth of TRON’s DeFi ecosystem. Those who want to partake in USDJ issuance can easily do so through the JUST website. Traders who want to buy or sell USDJ can choose among the different exchanges that have listed the coin such as CryptoLocally.
The JUST system of governance relies mainly on JST holders. Holders of JST tokens have earning rights from the revenue generated from stability fees of USDJ. They also have voting rights to regulate risk, choose global settlers that resolve volatility when the price of USDJ deviates drastically from its US Dollar peg, and select valid proposals that can bring more value into Just Network’s ecosystem. Interested parties who want to participate in governing and shaping the future direction of this network can do so simply by holding JST tokens.
The reception of USDJ and JST by the crypto community has been phenomenal. Now, one of the best Peer-to-Peer (P2P) trading platforms in the industry, CryptoLocally, has recently listed both of them, signaling its latest expansion efforts into the TRON ecosystem. Previously, the P2P exchange added TRX and USDT-TRC20 as it shifted towards a multi-chain P2P trading platform. Furthermore, it is non-custodial which means users never lose custody of their digital assets and CryptoLocally’s operators will not be able to touch customer’s funds. This is made possible through CryptoLocally’s unique and user-friendly P2P trading system.
CryptoLocally’s new users will be able to buy or sell USDJ or JST without limits and within minutes as they are not required to undergo a KYC verification process. This increases both of the digital asset’s liquidity as traders will be able to buy or sell USDJ and JST using local fiat payment options available in their jurisdiction. Enabling them to immediately leverage CryptoLocally’s wide selection of crypto and fiat payment options (Paypal, Transferwise, Revolut etc..).
All transactions facilitated by CryptoLocally will be protected by an enhanced smart contract escrow service which will protect both the buyer and seller throughout the transaction process. The combination of a fast registration process, comprehensive payment options, and a simple yet powerful P2P trading platform makes CryptoLocally one of the most convenient and safest ways to buy or sell USDJ and JST.
We are always on the lookout for partnerships that will enable us to further enhance the crypto experience of our users, and we believe CryptoLocally is a perfect partner to achieve this. Aside from having a fast, secure, and easy-to-use trading platform, it is also borderless, available for everyone, anywhere, and anytime. This resonates well with our objective of financial inclusion. Moreover, the vast number of fiat payment options available on Cryptolocally is very convenient, especially for first-time traders who want to buy USDJ or JST directly with local fiat currency.
Trading Giveaway (OPTIONAL)
In order to celebrate the listing of these two tokens, CryptoLocally is giving away 500 USDJ! Participants will have the chance to win USDJ by simply following CryptoLocally on Twitter and trading USDJ on CryptoLocally. This giveaway will begin on June 15, 2020 and end on June 22, 2020. You can find more details about the trading giveaway on their announcement post.
How to buy or sell USDJ/JST on CryptoLocally
Note: Trading USDJ and JST follow the same exact procedure. For demonstration purposes and for more clarity we use USDJ in the following example.
Trading USDJ on CryptoLocally is simple and does not require previous trading experience. Just follow these three simple steps to start trading today!
Step 1: Open trades
Choose USDJ as your preferred cryptocurrency to buy or sell and create an offer or choose an existing one to start trading. After the buyer and seller agree on terms, the seller can transfer USDJ to the secure escrow.
Step 2: Peer-to-Peer Settlement
Send or receive the agreed amount of the local currency or crypto and confirm the payment. Users have the option of frictionless trade cancellations and escrow refunds.
Step 3. Release funds
Once the funds have been received, the seller can safely release the escrow. The USDJ amount will instantly be transferred to the buyer’s wallet.
What are you waiting for? Go ahead and try out this fast, secure, and easy-to-use P2P trading platform. Sign up and create your first offer today!