JUST DAO announces that USDJ has ceased operations, and the original stablecoin system has been updated to a TRX fixed exchange rate model

JUST DAO announced the cessation of USDJ operations and the transition notice, stating that USDJ has successfully ceased operations, and the original stablecoin system has been updated to a fixed exchange rate model with TRX. In the future, the exchange rate for USDJ will be 1 USDJ = 1.5532 TRX.

In response to this matter, TRON founder Justin Sun has made a statement. He emphasized that all user assets before the snapshot will receive a 100% 1:1 rigid redemption. Justin Sun revealed that USDJ is an old project, and the official team has been winding it down for a year, during which they have repurchased over 95% of USDJ in the market at prices significantly higher than 1 dollar.

Regarding the remaining approximately 200,000 USDJ in the market, he promised that this portion will also be permanently exchanged at a 1:1 ratio, and users need not worry about asset safety. As for the reason for the winding down, Justin Sun explained that it is due to the continuous upgrade of centralized stablecoin technology, while USDJ is based on the outdated SAI version, and the team has decided to focus all efforts on USDD.