Convert
Philippine Peso (PHP) to Just (JST) Instantly
Purchase Just (JST) with Philippine Peso (PHP) easily at Switchere and benefit from fast, secure transactions.
About
Just (JST)
Just (JST) is a comprehensive decentralized finance (DeFi) ecosystem built on the TRON blockchain, designed to provide a suite of interconnected financial services. Its primary objective is to create an all-in-one platform for TRON users, centered around its decentralized stablecoin system, JustStable. Through this system, users can collateralize TRON's native token (TRX) in a Collateralized Debt Position (CDP) to mint USDJ, a stablecoin pegged 1:1 to the US Dollar. This core functionality provides liquidity and a stable medium of exchange for the entire digital asset ecosystem on the TRON network.
The platform's architecture extends beyond stablecoins to include JustLend, a money market protocol for lending and borrowing, and JustSwap, a decentralized exchange for seamless token swaps. This integrated approach aims to build a robust financial infrastructure. The native digital asset, JST, is a TRC-20 token that serves a dual purpose. As a utility token, it is used for paying interest on CDPs. More critically, JST functions as a governance token, empowering holders to participate in on-chain governance by voting on key parameters like stability fees and collateral types, thereby shaping the future development and stability of the decentralized network.
How to Buy Just (JST)
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Frequently asked questions
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What is the primary function of the PHP/JST trading pair?
The PHP/JST pair serves as a direct fiat on-ramp, allowing users to convert Philippine Pesos (PHP) into JST, the governance token for the JUST network on the TRON blockchain. This is crucial for users in the Philippines wanting to participate in the JUST decentralized lending platform, which involves creating collateralized debt positions (CDPs) and managing the USDJ stablecoin without first needing to acquire another digital asset. -
What are the common methods to buy JST tokens using PHP?
To buy JST with PHP, you typically use a cryptocurrency exchange that supports PHP deposits. The process involves completing KYC/AML verification, funding your account with Philippine Pesos via local bank transfers, GCash, or PayMaya, and then placing a buy order on the JST/PHP market. Ensure the exchange has sufficient liquidity for the trading pair to minimize slippage. -
What specific utility does the JST token offer within its ecosystem?
JST is a TRC-20 token with multiple functions on the JUST platform. Its primary utility is as a governance token, allowing holders to vote on key parameter changes. It is also used to pay stability fees for CDPs used to mint the USDJ stablecoin. Furthermore, users can engage in staking JST to earn platform rewards, contributing to the network's security and stability. -
Are there any specific regulations or fees to consider when transacting from PHP to JST?
Yes, when using a fiat gateway to convert PHP, be aware of transaction fees from your payment provider (e.g., bank or e-wallet) and the deposit fee on the exchange. It's vital to use a platform that is compliant with the Bangko Sentral ng Pilipinas (BSP) regulations for virtual asset service providers. Processing times for PHP deposits can also vary depending on the chosen method. -
How should I securely store my JST tokens after purchase?
For maximum security, it is recommended to move your JST tokens from the exchange to a non-custodial digital wallet that supports the TRON blockchain and TRC-20 standard tokens. This gives you sole control over your private keys. Popular options include hardware wallets for cold storage or reputable mobile wallets designed for the TRON ecosystem, safeguarding your digital assets from exchange-related risks.