JustLiquidity Project Insight: An Upgraded UniSwap on the Binance Smart Chain

JustLiquidity is a pretty impressive project with a very professional team. They are constantly bringing innovation to the De-Fi and decentralized exchange (DEX) scene.

By
Rich
on
March 3, 2021
Category:
Project Insight

Introduction

JustLiquidity started as an Ethereum Project back in September 2020, followed by the launch of JulSwap on the Binance Smart Chain (BSC) a few weeks later. This protocol has set its standards high, aiming to become the UniSwap of the BSC.


AMM Swap and Dex

JulSwap is an AMM swap,  just like UniSwap on the Ethereum Network. This type of decentralized exchange (DEX) is very user-friendly. Users select which tokens they wish to swap to and then approve and confirm the transaction from their wallet. In short, these models allow for seamless and permissionless token swaps. This way, you pay the current price set by the Automated Market Maker; this might not be ideal, but sitting for hours staring at your screen hoping that the price reaches your desired price can be very dull and frustrating. Users also don't need to worry about centralized exchange weaknesses such as high fees and know your customer (KYC) policies.

Going even further, JustLiquidy has its own DEX (Decentralized Exchange), which contains a decentralized order book. On JulSwap's DEX, you can set limit orders, meaning you can select your desired buy or sell price and sit back and relax as the system will execute your order once the expected price is reached. The TradingView charts and order book gives it a professional feel, just like on a centralized exchange like Binance.

For those who wish for in-depth articles on Automated Market Making and Decentralized exchanges, refer to the following articles:

Cryptonomics: Automated Market Makers

Cryptonomics: Decentralized Exchanges Explained


Liquidity Incentives

There are many pairs for which you can provide Liquidity using JustLiquidity's AMM/DEX. 

Once provided, you can stake the LP token to earn $JULB and $JULD tokens. These tokens have been allocated to users who initially adopt the protocol and provide it with the necessary liquidity pairs. The roi (return of investment) ranges from 0.02% up to 0.18% per day, which would be over $500- per month on a $1000- investment; these staking pools are to be taken seriously.

Available pairs for staking:

  • BNB/JULB
  • JULB/JULD
  • JULB
  • JULB/BUSD
  • BNB/BUSD
  • BNB/VOXB
  • BNB/OBRB
  • JULB/BNB
  • JULB/BUSD
  • JULB/BTCB
  • BHC/BNB
  • TWT/BNB
  • VIDT/BNB
  • BTCB/BNB
  • XVS/BNB
  • DOT/BNB
  • UNI/BNB
  • JULD/BNB
  • BNB/SWGB
  • JULB/ETHB
  • BNB/ETHB
  • BUSD/ETHB
  • JULD
  • SBS/JULB
  • JULD/BUSD
  • USDT/BUSD
  • YVS/BNB
  • BNB/BIFI
  • XCUR/BNB


Team & Partnerships

The team consists of 6 members, and each of them is highly qualified for doing their job:

  • Tobias Graf (CEO)

An experienced CEO of 10 years brings, has been leading several companies involved in the financial and IT business. His skills revolve around technology, marketing, and lean operational effectiveness, makinh him the right man at the helm.

LinkedIn

  • Rohit Changediya (CTO)

Experienced full-stack developer familiar with a broad range of skills in programming. Offering 6+ years of related experience.

  • James Smith (CSO)

James is an exceptionally analytical individual experienced in determining any security issues on the network. They are continually running tests aimed at deciphering system weaknesses and providing suggestions to overcome them.

LinkedIn

  • Rahul Trivedi (Fullstack Developer)

Tech enthusiast with knowledge of SQL-NoSQL databases, Linux servers, Node, PHP, and Python stacks. He is always learning new technology.

LinkedIn

  • Rahul Buddhdev (Blockchain Developer)

Bright and experienced full stack developer as well as dApp developer. 

LinkedIn

  • Abdul Wahid Memon (Ph.D., Blockchain Specialist)

Professor, Dr. of Computer Science specialized in Blockchain and Cryptography.

LinkedIn

As you can see, this team is not anonymous and brings a lot of experience to the JustLiquidity project.

This has helped to get nice collaborations with several projects and companies, most renowned being Binance. The JustLiquidity ecosystem was granted a part of Binance's 100 million Dollar accelerator fund, making development on the BSC much smoother.

Other noteworthy collaborations have been made with:

SafePal – Hard and software-wallet. Look at my review HERE

StayBase  – Crypto, Gold and Stocks are at the base of this token

SwirgePay  –  Decentralized payment platform

VoxFinance  –  De-Fi Project

YVSFinance  –  Yield farming 


JUL & JULB Tokens

The difference between the $JUL and $JULB token is that one is ERC-20 and the other BEP-20. In other words, the $JUL tokens run on the Ethereum Network, while the $JULB token is minted on the BSC.

There is a maximum supply of 1,000,000 tokens, which were minted on the Ethereum Network. When JustLiquidity came over to the BSC, they made a smart contract and a bridge UI (user interface), able to transfer ERC-20 tokens to BEP-20. Whenever a $JUL user wants to bring their $JUL over from Ethereum to BSC, they deposit their $JUL tokens into the contract. The contract locks the $JUL token and issues the same amount of $JULB tokens to the users' wallet. If the user wishes to turn $JULB into $JUL, he just deposits the $JULB in the contract. The contract then burns the $JULB and unlocks the $JUL tokens sending them to your wallet. The system ensures that the total of supply of 1,000,000 JUL/B will always remain correct across both chains.

In the meantime, most tokens (over 60%) have found their way onto the BSC. Users have found out about the fast transactions and low gas fees, and who can blame them?

$JUL and $JULB tokens holders also receive airdrops from collaborating projects. On top of this, the team has incorporated a deflationary measure in the form of token buy-backs. This means constant buy-side pressure will make the coin more expensive while simultaneously giving users access to the JustLiquidity ecosystem.

The services of JustLiquidity are free of charge for the free version. Users who wish to access more features must hold JULB tokens. For the basic version, you have to hold 5 $JULB in your wallet, and if you hold 15 $JULB in your wallet you will get the premium membership.

The services to be provided are as follows:

  • LP Value Alerts 
  • Decentralized 
  • Trading Competitions 
  • Real-Time Tools 
  • Order Book 
  • Limit Orders* 
  • AMM Liquidity Providing 
  • Staking 
  • TradingView   
  • Wallet Tracking (basic)
  • Token Price Alerts (premium)
  • Bot Tracker (premium)


 JULD Token

The $JULD token is a BEP-20 token and was deemed as a community token. The unique feature is that there is the capability to mint more tokens on top of the initial supply of 800,000,000. The permission of token minting is governed by the top 20 $JUL and $JULB holders as they are added to the contract. If at least half of the holders confirm the proposition, more tokens will be minted. This allows initial community/liquidity incentives to be minted and distributed to the community through staking.


Wallet Extension

To make things easier for you, the team from JustLiquidity has also developed a wallet extension for Google Chrome Browser. The wallet extension will allow you to work on the BSC and Ethereum networks seamlessly. Users can interact with dAPPS, smart contracts, send and receive ERC-20/BEP-20 tokens, and link the extension to their Hardware Wallets like Ledger and Trezor.

Handy extension wallet if you need one.


Closing Thoughts

JustLiquidity is a pretty impressive project with a very professional team. They are constantly bringing innovation to the De-Fi scene. The Bridge function is an excellent way for Ethereum Users to come over to the BSC and experience the fast transactions and low gas fees. JulSwap DEX is robust, letting you set limit orders in a permission less and decentralized fashion. Overall, the team has continued to display developments, and they don't show any signs of slowing down in these bull market conditions.

Want to know more? Check out the following resources such as their website and social media:

Website

Telegram

Twitter

Medium

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Rich

Richard is a multilingual writer, located in the Netherlands, husband and father, cryptocurrency and tech enthousiast enjoys long walks and bicycle rides. Fervent Binance Smart Chain projects promotor.