Summary: The fourth round of JST’s buyback and burn has concluded with higher-than-expected results. A total of over 355 million JST tokens—valued at more than $34.59 million—were burned in this round, marking the highest single-round burn by value to date.
On July 17, JST—the native token of TRON’s decentralized finance (DeFi) infrastructure JUST—completed its fourth large-scale buyback and burn round.
A total of over 355 million JST tokens were burned in this round, accounting for 3.59% of the total supply. This translates to more than $34.59 million in value, which not only shattered previous single-round records but also far exceeded the community’s expectations.
The unprecedented scale of this burn was driven by a dual-engine initiative: the routine Q2 2026 buyback and burn, paired with a separate burn of historical USDJ stability fees. The combination of these two streams propelled the actual burn volume to historic heights—surpassing prior market estimates while delivering unexpected benefits to JST holders worldwide.
Notably, 100% of the funds deployed for the standard Q2 buyback came from JustLend DAO’s organic protocol revenues. With a fully transparent capital pipeline, the ecosystem demonstrates a highly sustainable economic model that relies entirely on its core business operations to drive value.
A Historic Milestone: 355M+ JST Burned in Routine Q2 Buyback and Special USDJ Fee Burn
Unlike the previous three rounds which adhered strictly to standard quarterly schedules, this round introduced a dual-engine structure: the standard seasonal burn plus an additional, independent burn of historical USDJ stability fees. This strategic move drove the single-round burn volume to a record-breaking peak.
According to the official Announcement on Completion of the Fourth JST Buyback and Burn released on July 17, a total of 355,021,530.97 JST(representing 3.59% of total supply) was permanently removed from circulation, with the total transaction value reaching $34.59 million
While previous rounds typically deployed around $20 million, this round’s total value surged past $34 million—a 70%+ increase over the third round and a significant outperformance of general market forecasts.
The expansion of this round’s burn size was powered by two independent funding components:
- Q2 2026 Quarterly Buyback and Burn: A total of 248,357,799 JST (est. $24.20million) was burned, using $20.6 million from protocol revenue.
- Historical USDJ Stability Fee Burn: 106,663,731.97 JST was burned separately, carrying a current estimated value of $10.39million.
While the Q2 burn aligns with the ecosystem’s quarterly burning schedule, the USDJ historical stability fee burn represents a completely independent, one-time capital injection. This effectively provides an unexpected ecosystem bonus directly to global JST holders on top of routine value returns. As a result, the combined initiatives removed more tokens from circulation than any single previous round.
With the successful conclusion of this fourth major initiative, JST is accelerating along its deflationary trajectory. As of July 15, across four completed rounds, the ecosystem has burned a cumulative total of 1,711,249,863 JST, wiping out 17.29% of the total supply from circulation.
That means in just nine months since the buyback program kicked off in October 2025, nearly one-fifth of all JST tokens have been permanently burned and taken out of the market. With the circulating supply steadily tightening, the token’s scarcity is climbing.
According to CoinGecko, JST broke through the $0.1 barrier on July 10, hitting an intraday high of $0.1045—its strongest level since December 2021. Over the past year, the token has surged more than 178%, pushing its market cap to roughly $874 million and landing it a spot among the top 70 cryptocurrencies globally. This dual momentum in price and valuation provides clear secondary-market validation of the deflationary loop: strategic buybacks constrict supply, which in turn drives organic price appreciation.
JustLend DAO’s Steady Earnings Underpin JST’s Long-Term Deflationary Value
The engine behind JST’s sustained buyback program has always been JustLend DAO. On top of the USDJ fee burn added in this latest round, all funds used in the previous regular buyback rounds came exclusively from the DAO’s operating revenue, making the entire funding process fully transparent and traceable.
The $20.6 million deployed for the Q2 2026 buyback was sourced entirely from JustLend DAO’s organic revenue, broken down as follows:
- Net income growth (growth engine): ~$10.28 million in Q2 net income.
- Historical reserves (base stock): ~$10.34 million in accumulated earnings from prior periods.
By combining these two streams—past reserves as a foundation and fresh quarterly earnings as fuel—the DAO built a complete funding pool for Q2. On top of this, the new USDJ stability fee burn acts as an accelerator outside the regular quarterly budget, further intensifying JST’s deflationary momentum. Notably, JustLend DAO has consistently generated eight-figure quarterly profits, underscoring the strength of its revenue engine.
On top of its stable core business, JustLend DAO has been actively sharpening its product edge and expanding its mainstream reach over the past two months, setting the stage for significant future growth:
On June 16, the platform rolled out SBM V2, an upgrade to its lending market that introduces an isolated-collateral lending protocol. The new design improves capital efficiency and raises the protocol’s long-term earnings ceiling at the infrastructure layer.
On July 6, JustLend DAO integrated with Binance Wallet’s DeFi section, opening up its core liquidity pools to one of the largest Web3 traffic gateways. To mark Binance’s ninth anniversary, the two parties co-launched TRON DeFi Summer, a campaign with a total prize pool of $4.5 million. Season 1 is now live, featuring an exclusive $2.15 million reward pool. Users can participate by supplying TRX, USDD, JST, SUN, and other assets on JustLend DAO. These initiatives are set to funnel fresh liquidity and a wave of new users into the ecosystem, unlocking new growth avenues for future earnings.
Backed by solid operating profits, an evolving product suite, and a growing partner network, JustLend DAO remains firmly on an upward trajectory—providing a steady, recurring flow of funds for JST’s ongoing buybacks and reinforcing its deflationary value proposition.
Meanwhile, the broader DeFi space is going through a brutal shakeout. Many projects are struggling with falling revenues and tighter cash flow, forcing them to cut back—some once-prominent names have even shut down entirely. Against this grim backdrop, the JUST ecosystem stands out by bucking the trend. Far from pulling back on buybacks, it has proactively tapped new revenue sources (including USDJ stability fees) to add extra burns beyond its regular quarterly schedule, turning its long-term deflation strategy into tangible value for holders.
This sustained, above-consensus execution underscores the JUST ecosystem’s strong track record, strategic discipline, sound fundamentals, and durable cashgenerating ability.
