What is Just Swap?

clock Jul 20,2021
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With cryptocurrency gaining popularity with every passing second, it becomes mandatory for the people around the world to explore the domain. This is where we are introduced with different cryptocurrencies, exchange platforms, etc. One of the most popular ones of these is JustSwap. 

JustSwap comes out to be a Tron-based automated cryptocurrency exchange protocol. The protocol is decentralized, so no agency or person has control over your exchanges. Moreover, you can get the price for any TRC20 token almost instantly. The protocol was an initiative by JUST which is a company trying to develop TRON-based DeFi. In their pursuit to strengthen the TRC token, the JUST team has developed other products too, such as Stablecoin, USDJ and JustWrapper.

Similar to Ethereum based tokens and cryptocurrencies, JustSwap is also based on x*y=k, which is a constant function equivalent to those of MooniSwap and Uniswap. Based on the liquidity of the token, this constant function tells the value of the token available in the pool. 

Fees charged by JustSwap
The fees charged by JustSwap are very minimal, which makes it extremely convenient for the users to try out the platform. You are charged 0.3% of the amount you are trading on the platform. This means, 0.3% of the total amount is charged once you swap any of the TRC20 tokens on the platform. 

The good part of this platform is that there are no hidden charges and hence, you need not pay any other amount more than the transaction fee. This fee structure is quite similar to that of UNISWAP and MOONSWAP, which are other ETHEREUM based liquidity protocols. 

Wallets which are supported by JustSwap
You will be needing a TRON wallet to use decentralized applications which are based on the TRON based network. This is mandatory because JustSwap is a decentralized exchange protocol based on TRON token. You can use TRONLINK which is one of the most used wallets for TRON currency. You can use the wallet on your browser as an extension to your CHROME. Moreover, the accessibility is also increased as the wallet is also available for ANDROID. You can download the ANDROID version of the same using Google Play Store. 

Features provided by JustSwap
There are many features of using JustSwap as a cryptocurrency exchange protocol, but the most notable ones are the five core strengths of the token, 

  • Make profit without any barriers: Market makers have a choice to make good profits using the platform. This is possible because it allows the traders to exchange between any of the TRC20 tokens almost instantly.
  • Excellent liquidity: If you are acquainted with the cryptocurrency platforms, then you will know that liquidity is of great importance in this domain. All the crypto projects and trading platforms must have good liquidity to back up the platform. This is where JustSwap performs extremely well, as it incorporates hundreds of projects and thousands of traders for the platform giving it almost unlimited liquidity.
  • Convenience you require: The platform is extremely convenient and serves as a great platform for people who are new to the cryptocurrency realm. JustSwap allows almost instant exchange with no need of matching any orders. 
  • 100% availability: JustSwap is free for everyone. The platform allows a fair and open financial marketplace to everyone who is using it, as promised by TRON blockchain. 
  • High Profits: If you are using the platform, you will be getting an ongoing processing fee without getting any kind of commission.

Why are TRON market makers excited about JustSwap?

Market makers are quite excited because of JustSwap as it offers almost instant exchange between TRC20 tokens, due to which it creates a good threshold of profit for them.

Many applications and market makers are benefited with the help of JustSwap, as it creates an almost unlimited amount of liquidity. The transaction is executed almost instantly without waiting for the transaction to complete. With this, users can participate openly in the financial markets. 

Conclusion

JustSwap was a result of sudden hype in the cryptocurrency realm and meets the demand of DeFi tokens. Just like Ethereum based network, it provides decentralized and instant exchange. However, it is faster with lower fees, making it one of the best decentralized exchange protocols.

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