TRON Foundation is much in to forwarding JUST these days. The foundation recently tweeted about generating USDJ on JUST Collateralized Debt.
There are a total of 3 steps which can be summarised as:
TRX is exchanged for PTRX. PTRX is the only collateral asset currently accepted by the system. The transaction is sent to JUST to create a CDP. Another transaction is sent to deposit PTRX in to the CDP. Now PTRX is the collateral asset. After the collateral is deposited USDJ is generated.
The CDP holder will now send the transaction to assess the amount of USDJ generated in the CDP. Simultaneously, the same amount of debt will be created. The collateral asset will be further locked up. The asset will not be available for redemption until the debt is repaid.
The debt is repaid with USDJ along with a stability fee, which is paid with JST, the JUST platform token. The CDP holder will send a transaction to JUST to retrieve all the collateral assets. If the price slump of the collateral will create a disk being unable to cover the debt, the CDP liquidation will be triggered to auction the collateral for repayment. The penalty fee and the net value of the debt will be kept in the CDP for withdrawal.
Sydney Ifergan, the crypto expert tweeted: “For every time there is a new coin from TRON (TRX) or the founder Justin Sun, we need to spend some time studying the whole transaction process.”
TRON Foundation celebrate every little thing with their announcement of the announcement attitude. And, regardless of who laugh and make fun of them they keep moving forward.
TRON Foundation tweeted: “According to @dapp_review, the number of #TRON #Dapps reached 759 with 4 new ones added and signalling a stable development. #TRON’s #Dapp ecosystem is growing at a steady pace. We welcome more users and developers to join us. #TRX $TRX.”
One of the commentators replied: “Justin Sun is going to make a killing in fees on that $2B in USDT run on the Tron network. Every trade using that $2B in USDT is Cha Ching for the Tron gas fees and there should be hundred of millions exchanging hands each day in trading.”
When mentioning TRX, someone asked you mean the one whose games are being promoted by Samsung and are developing like crazy? Hell yeah I know TRX!!!
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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