Poloniex LaunchBase, the exclusive token launch platform of Poloniex which helps transformative blockchain startups raise funding to develop their products and drive user adoption, has completed its first ever JUST (JST) token sale.
The token sale was conducted in one session where participants purchased JUST (JST) tokens using TRX. During this session, all 396,000,000 JST tokens were sold to LaunchBase participants on a first come first serve basis.
The timeline below provides an overview of how the JUST token sale was conducted:
April 9, 2020 (UTC): Poloniex officially released LaunchBase, a premium token issuance platform, and announced JUST (JST) as its first decentralized stablecoin lending platform.
April 9, 2020 (UTC): Poloniex announced details on the public sale of the opening project, adopting a subscription mode where TRX is the exclusive token for subscription.
May 5, 2020, 14:00 (UTC): Global sale of JUST on Poloniex LaunchBase kicks off.
May 5, 2020, 14:04 (UTC): Sale of Poloniex LaunchBase JUST concludes.
May 5, 2020, 16:30 (UTC): Poloniex completes distribution of JST to subscribers.
May 7, 2020, 14:00 (UTC): Poloniex supports deposit and withdrawal of JST. Poloniex will also open trading for JST/TRX and JST/USDT trading pairs.
JUST, released by Poloniex LaunchBase, is a TRON-based decentralized lending platform where TRX-holders can collateralize TRX in CDPs on JUST platform to mint stablecoin USDJ, which is pegged at 1:1 to USD. JST, a native token on JUST, can be used for paying the lending interest, partaking in platform governance and for other features on blockchain.
For more information about JUST (JST), read this comprehensive JUST research paper provided by Poloniex on the project.