JST welcomes its second buyback and burn: a total of 10.96% of the supply has been destroyed, accelerating into a new era of value growth

January 15, 2026, JST tokens officially completed their second large-scale buyback and burn. This burn not only demonstrates the project’s firm commitment to a deflationary mechanism but also, with a scale of 525,000,000 JST (accounting for 5.3% of the total supply), showcases the strong profitability and financial health of the JUST ecosystem to the entire cryptocurrency market.

According to the official announcement from JustLend DAO, the estimated value of this burn exceeds $21 million USD. Combined with the amount burned in the first round, the total JST tokens burned have reached 1,084,890,753, accounting for 10.96% of the total supply. This means that in less than three months, JST has achieved the permanent removal of over one-tenth of its total supply, with a remarkable deflation rate.

From a broader perspective, this burn signifies a fundamental evolution in JST’s value narrative. It is shifting from a governance token to an equity asset anchored to the growth of ecosystem cash flows. This process not only enhances the scarcity and value foundation of JST tokens but also provides a clear, real-yield-driven pathway for the decentralized finance sector, demonstrating a transparent and sustainable new paradigm of deflation.

JustLend DAO ecosystem performs strongly, laying a solid financial foundation for large-scale buybacks

Such a massive buyback and burn require a robust financial base. The announcement clearly reveals two main sources of funds: up to $10,192,875 USD from JustLend DAO’s net income in Q4 2025, and another $10,340,249 USD from accumulated reserve earnings within the project. These two figures are powerful proof of performance, jointly pointing to a core fact: the JustLend DAO ecosystem not only possesses strong immediate profitability but also maintains a stable financial structure and sustainable cash flow, which are essential for fulfilling its buyback commitments and advancing its deflation strategy.

A detailed analysis of JustLend DAO’s Q4 2025 performance reveals several clear growth trajectories. First, as the flagship lending protocol of the JUST ecosystem, JustLend DAO benefits from the continuous improvement of TRON infrastructure. Its total value locked (TVL) surpassed $7.08 billion in Q4 and has long ranked among the top three in the lending market. The lending activity in the SBM market also reached new cycle highs.

Notably, the $10,340,249 USD reserve earnings, a significant part of the buyback funds, originate from the reserve deposited into the SBM USDT market during the first JST buyback. The appreciation of this fund directly demonstrates SBM market’s strong profitability. It showcases JustLend DAO’s sophisticated financial operation model: strategically recycling ecosystem profits to enable internal “self-replenishment,” providing an endogenous and sustainable source of funds for subsequent value redistribution.

Building on this, JustLend DAO’s revenue structure is becoming more diversified. Besides maintaining steady growth in the traditional lending market, it has innovatively developed product matrices such as sTRX (Staked TRX) and Energy Rental, greatly expanding its value capture boundaries and depth.

For example, the sTRX service allows users to stake TRX to earn rewards while remaining flexible to participate in other DeFi activities. This innovative design significantly improves capital efficiency and user engagement. As of January 15, the platform’s staked TRX exceeded 9.3 billion, a staggering figure that reflects high community recognition for the sTRX product and has generated considerable and sustainable service income.

Meanwhile, the “Energy Rental” service, aimed at reducing on-chain operation costs for users, has shown strong market appeal through active fee rate optimization. Since September 2025, the base fee rate was sharply reduced from 15% to a more competitive 8%. This fee reduction directly stimulated market demand and trading frequency, creating steady incremental revenue for the protocol through more active leasing activities.

While core product matrices continue to develop, JustLend DAO is also focused on lowering participation barriers for ordinary users. In March 2025, it launched the GasFree smart wallet, which completely breaks the long-standing barrier where users must hold native tokens (TRX) to pay transaction fees. It allows users to deduct and pay network fees directly from their transferred token assets (such as USDT). This design not only achieves ultimate operational convenience but also fundamentally broadens the accessibility of blockchain finance.

To accelerate the adoption of this innovative feature, JustLend DAO simultaneously launched an attractive 90% fee subsidy campaign for transfers. Under this promotion, users transferring USDT via GasFree pay only about 1 USDT in network fees. This combined strategy quickly ignited market demand. As of January 15, total transactions driven by GasFree have exceeded $46 billion, an astonishing scale that confirms the market’s strong desire for frictionless trading experiences and has saved users over $36.25 million USD in network fees. This innovation, by significantly reducing actual costs and cognitive barriers, has introduced a large influx of users and capital flow into the ecosystem, forming another strong growth pole for network effects and revenue potential.

Meanwhile, another funding channel within the buyback and burn plan—the incremental revenue from the USDD multi-chain ecosystem (exceeding $10 million USD)—also constitutes an important source of value. As the core decentralized stablecoin of the TRON ecosystem, USDD’s multi-chain expansion has achieved remarkable results. It has been deployed on Ethereum, BNB Chain, and other major public chains, broadening application scenarios and user base.

The ecosystem’s value recently reached a milestone: on January 14, USDD’s TVL broke through $1 billion USD for the first time. This means that in less than two months, USDD’s TVL has doubled, with a 100% growth rate, demonstrating the strong momentum and deep asset attraction of this stablecoin within multi-chain ecosystems. The rapid growth of TVL and ongoing ecosystem prosperity significantly enhance the future potential scale of this funding channel, providing an expected value source for JST’s subsequent quarterly buyback and burn plans.

USDD’s deep integration with various DeFi protocols not only consolidates its peg stability but also creates continuous value inflows for the entire ecosystem. The JST buyback and burn plan incorporates excess income from the USDD ecosystem, forming a “stablecoin + lending protocol + governance token” value loop. In this model, USDD and the expansion of JustLend DAO directly drive JST’s deflation, while the rising value of JST further enhances the attractiveness and cohesion of the entire TRON DeFi ecosystem, creating a powerful internal synergy and value feedback loop.

Deepening deflation: a revolutionary reshaping of JST’s value foundation

In summary, the significance of this buyback and burn goes far beyond mere price support; it is triggering a series of profound structural changes. Most fundamentally, it completes the reshaping of JST’s value support logic. JST is no longer just a “tool token” used for paying network fees or governance voting; it has evolved into a “equity asset” directly anchored to the cash flow performance of JustLend DAO, USDD, and related ecosystems.

Through the buyback and burn mechanism, the ecosystem’s profit growth is continuously injected into JST’s value foundation, making holding JST equivalent to holding a share of the future profit growth of the ecosystem. On January 8, CoinMarketCap data showed that JST’s market cap broke through $400 million USD for the first time, marking a significant milestone and market recognition of its new positioning. As market cap increased, trading activity also rose: on January 8, 24-hour trading volume surged by 21.92% to $31.49 million USD, and the price in the past month increased steadily by 10.82%, with a daily increase of 3.1%.

The synchronized expansion of trading volume and market cap at key nodes is not coincidental market fluctuation but a clear “vote of confidence” from capital in the improving fundamentals of the JUST ecosystem, especially the profitability and value feedback mechanisms demonstrated by the buyback and burn.

Secondly, JST’s buyback and burn also bring substantial governance power enhancement. As the total token supply irreversibly decreases, each remaining JST in the market will have an increased governance weight. This means that long-term holders not only enjoy economic benefits from value appreciation but also gain greater influence in key community decisions (such as parameter adjustments, new product launches, treasury fund utilization). This design deeply aligns the interests of core community members with the long-term success of the protocol, greatly strengthening community stability and participation.

From a broader industry perspective, JST’s buyback and burn practice provides a clear and exemplary new paradigm for token economics in DeFi. In a very short period, removing 10.96% of total supply through two rounds of burns demonstrates efficient execution. Its deeper significance lies in tightly linking the protocol’s financial success with token holders’ interests, establishing a virtuous cycle of “value creation and value feedback.”

This model fundamentally reverses the old logic of token value relying on speculative narratives, shifting instead to a sustainable path driven by the protocol’s cash flow fundamentals. It offers a solid, credible case for how the industry can build economically supported, value-driven token models.

Looking ahead, as quarterly buybacks and burns become routine, a clear and predictable deflationary path is taking shape. JST’s scarcity will be increasingly reinforced over time. Each quarterly report and subsequent burn will serve as a catalyst for re-evaluating its intrinsic value. This burn is not the end but the beginning of a more expansive value accumulation chapter—a value revolution driven by ecosystem profitability and product synergy, with the accelerator already pressed.