Binance announced that they are supporting the monthly JUST (JST) airdrop program for TRON Foundation’s TRX holders in their platform. The company mentioned that they will be taking snapshots of all TRX holders balances on May 20th and distribute JST on their accounts.
#Binance Will Support the @DeFi_JUST $JST Airdrop Program for @Tronfoundation $TRX Holdershttps://t.co/J2V0xVVD6S pic.twitter.com/euhndtRhJA
— Binance (@binance) May 12, 2020
The initial JST airdrop this May 20th, 0:00 AM (UTC) would be calculated as:
- JST received by User A = Amount of TRX held by User A at the time of snapshot / Total TRX held by Binance at the time of snapshot * Total JST received by Binance for the airdrop.
For the monthly JST airdrop program, as mentioned that Binance will be taking snapshots of TRX holder balances at 0:00 AM (UTC) on every 20th day of each month and will be distributed based on the following calculation:
- JST received by User A = Amount of TRX held by User A at the time of snapshot / Total TRX held by Binance at the time of snapshot * Total JST received by Binance based on total TRX holdings for the respective monthly airdrop.
Binance also provided the total JST airdropped each month from 2020 until 2022:
- 2020/06/20 to 2021/05/20: 19,800,000 JST airdropped to TRX holders on the 20th day of the month.
- 2021/06/20 to 2022/05/20: 21,450,000 JST airdropped to TRX holders on the 20th day of the month.
- 2022/06/20 to 2022/10/20: 55,440,000 JST airdropped to TRX holders on the 20th day of the month.
What is the JST airdrop program?
TRON Foundation announced last April 15th that on May 20th JUST Foundation will initiate its first airdrop of JUST (JST) to TRON (TRX) holders. Like Binance, a snapshot of the TRX holders balances on every 20th of the month at 00:00 UTC.
JUST Foundation will initiate its first airdrop of 217,800,000 JUST (JST), corresponding to 2.2% of the total supply and will be airdropped to all the addresses running on TRON’s blockchain that have a TRX balance greater than or equal to 100 TRX.
The good thing about this program is the airdrops will be automatically distributed to the TRON (TRX) holders, regardless of whether TRX is frozen. Basically a holder would just need to put TRX onto his cryptocurrency wallet and start receiving airdrops from JST.
What is JST?
JUST is the TRON-based lending platform and JST is its stablecoin. Users can stake their TRX via JUST’s CDP portal to generate USDJ. A stablecoin pegged to USD at a 1:1 ratio. $JST can be used for paying interest, platform maintenance as well as other activities on the blockchain.
The JST airdrop program would be another milestone for TRON Foundation and Justin Sun has continued to expand TRON Foundation’s technology into stablecoins such as the JST token and the endless possibilities of it.
Are you ready for this JST token airdrop program? Let us know in the comments and tell us about your expectations for this cryptocurrency token.
For more news and updates, check Tron Spark.