jToken refers to the “receipt” users get for supplying underlying assets to JustLend, such as the jTRX, jUSDT, jSUN and jBTC you receive after supplying the corresponding assets. jToken is a TRC20 token in your wallet.
All assets supported by JustLend, a DeFi protocol, are packed and integrated through the smart contract - jToken. Users mint jToken, which generates interest for its holders, and provide assets to the protocol. Each jToken can be swapped back into the corresponding base asset when users redeem it.
jToken share the same properties as other TRC20 tokens, such as being transferred to others or deposited into a smart contract.Your transfer of jToken to other users or institutions constitute a waiver of ownership over the assets you have supplied to JustLend.
For example:
User A supplies 100 TRX on JustLend and receives 10,000 jTRX (jToken) as a receipt, after which A transfers 6,000 jTRX to User B. Now, A only has 4,000 jTRX left (equivalent to a 40 TRX supply on JustLend), while B gets 6,000 jTRX (from A’s transfer, which is equivalent to a 60 TRX supply on JustLend). If B does not transfer jToken back to A, A will no longer own the 6000 jTRX (60 TRX).(The example exchange rate here is 1 TRX = 100 jTRX).
jToken acts as a key means to interact with the JustLend protocol. While each jToken contract creates its own token market, users use jToken contracts to mint, redeem, borrow loans, repay loans, liquidate loans or transfer jToken.