Bitfinex announced a new listing from the DeFi community. JST token from JUST blockchain is now supported on the Bitfinex platform. The new listing follows multiple tokens that Bitfinex has started to support recently. The cryptocurrency exchange believes in DeFi tokens and currently supports lots of them.
Another DeFi Token on Bitfinex
JUST is a DeFi blockchain project that is based on Tron. Opposed to most of the DeFi products that use Ethereum as the underlying network. Bitfinex has chosen JST as the new listing to support all of the miners, and governers if JST token and provide the trading opportunity to them.
When a new token receives support in a cryptocurrency exchange, many opportunities emerge for users and developers of that blockchain. JUST users can now hope that Bitfinex adds support for JST in its other platforms like futures trading and maybe support it for staking. Each of them means more users get attracted to the token, and the trading opportunities will become more.
Bitfinex initially added support for the JST deposit in its platform on October 29th. The exchange says “trading and withdrawals of JST will commence on 31/10/20 at 9:00 AM UTC”. Bitfinex will support JST trading in three pairs: US Dollars (JST/USD), Tether tokens (JST/USDt), and bitcoin (JST/BTC). They may add new pairs in the future.
JST is not the only token in the JUST platform. The DeFi platform had many services like lending, swapping, token transfer, and also Bitcoin token. The Bitcoin token on JUST is a TRC20 token (TRON token) that lets users and developers work with the value of Bitcoin in their products in the JUST platform. All of them are planned to cover the various needs of financial services.
Stablecoins are critical components for any DeFi platform. JUST has a stablecoin pegged 1:1 to US Dollar named USDJ. USDJ will “keeps the exchange rate stable with an automatic feedback mechanism. It can be earned through staking and trading.” But JST acts as a governance and mining token.
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