On the evening of October 21 (GMT+8), the JustLend DAO community, the core lending protocol of the TRON ecosystem, completed voting on the "JST Buyback and Burn" proposal, which was officially approved with a high number of votes in favor, marking the formal implementation of JST's deflationary mechanism.
With the implementation of the proposal, JST's deflationary momentum will be deeply tied to the two core components of the JUST ecosystem: JustLend DAO and USDD. The former, JustLend DAO, as one of the world's top four lending protocols, provides a stable source of funds for JST burning through its steady earnings; the latter, USDD, as the second-largest stablecoin in the TRON ecosystem, will further enrich the buyback pool with incremental profits. The sustained earnings from both will jointly convert into JST's "deflationary power," ultimately creating a positive cycle of "ecosystem earnings—token deflation—value appreciation," helping JST unlock its long-term value potential and opening a new channel for value growth.
It is particularly noteworthy that the current cumulative earnings of the JustLend DAO platform are about $60 million, which will be allocated in batches to the JST buyback and burn plan: the first batch will burn 30% of existing earnings, while the remaining 70% will be released over four quarters to ensure a smooth and sustained deflationary effect.
From a data perspective, JST's current market cap is only about $300 million. The number of tokens corresponding to the first batch of earnings to be burned by JustLend DAO alone accounts for more than 5.6% of JST's total supply, and the platform's total cumulative earnings are close to $60 million. Based on the current market price of JST, the total number of tokens that can be burned will account for about 20% of the total supply.
The JST Deflation Process Officially Begins: JustLend DAO to Allocate About $60 Million in Earnings for Buyback and Burn, Cumulative Burn to Exceed 20% of Total Supply
The successful implementation of the JST buyback and burn plan will propel it into the deflationary era. The execution of this plan is expected to open a new round of value appreciation for JST, unlocking long-term value and sparking unlimited imagination about JST's future in the market.
On the evening of October 21 (GMT+8), the JustLend DAO community's proposal on "JST Buyback and Burn" was officially approved with a high number of votes in favor. This marks the transition of JST's deflationary mechanism from planning to execution, and the formal establishment of a targeted JST buyback and burn mechanism within the JustLend DAO and USDD ecosystem. The establishment of this mechanism propels JST into the deflationary era, laying the foundation for a new round of value appreciation and the release of long-term growth potential.
"Sustainable funding + strong burn intensity" can be described as the two major highlights of this JST buyback and burn plan. The sources of JST buyback funds are clear and highly sustainable, providing a continuous driving force for the buyback and burn plan. The funds mainly come from two parts: first, the existing and future net income of JustLend DAO (including sTRX earnings and SBM net income), achieving dual coverage of "stock earnings + future incremental earnings," providing a solid financial guarantee for the buyback and burn; second, the incremental earnings after USDD's multi-chain ecosystem profits exceed $10 million, which will inject new vitality into JST's deflationary process once this important threshold is crossed.
Since the JustLend DAO community released the JST buyback and burn proposal on October 11, it has attracted great attention from the community, mainly because it is directly related to JST's tokenomics and price expectations. Now, with the implementation of the JST buyback and burn, JST's value will be deeply tied to the two core components of the JUST ecosystem—JustLend DAO (one of the world's top four lending protocols) and USDD (the second-largest stablecoin in the TRON ecosystem). These two core components are like the twin engines of JST's value, and their sustained earnings will directly convert into JST's "deflationary fuel."
The introduction of this buyback and burn mechanism not only optimizes JST's economic structure but also enhances its weight and value anchoring ability as a governance token, becoming a key variable driving price appreciation. By regularly buying back and burning circulating JST from the market, the circulating supply is gradually reduced, creating a healthy deflationary effect and further enhancing scarcity, thereby strengthening its value foundation and driving the JST ecosystem onto a sustainable development track.
In terms of the burn schedule, JustLend DAO's current cumulative stock earnings are about $60 million, which will be invested in the buyback and burn according to the principle of "batch execution, sustained effort." The first batch will burn 30% of JustLend DAO's existing earnings, and the remaining 70% will be released over four quarters, with 17.5% burned each quarter, ensuring a stable and long-term deflationary effect. After each buyback and burn, JustLend DAO will publish an announcement on its official website, including comprehensive transaction details such as transaction hash, date, buyback amount, and the number of tokens burned.
The total issuance of JST is 9.9 billion tokens, and it has been fully circulating since Q2 2023. This means that the execution of the JST buyback and burn plan will directly and continuously reduce its circulating supply, providing a solid foundation for the deflationary effect. In addition, JST's current market cap is about $300 million, the number of holding addresses has exceeded 440,000, and it has been listed on dozens of major global exchanges such as Binance, HTX, OKX, UPbit, Bithumb, and Kraken.
Based on JST's current market cap of $300 million, the number of tokens that can be burned solely from JustLend DAO's existing earnings, calculated at the current JST market price, accounts for about 20% of JST's total supply, with the first batch accounting for more than 5.6%. It is evident that the intensity of JST's buyback and burn this time far exceeds similar measures in the market. Such a strong buyback and burn intensity is expected to significantly enhance the scarcity of JST tokens, laying a solid foundation and providing strong support for its value appreciation.
It is especially worth mentioning that as a long-established DeFi protocol in the TRON ecosystem, JustLend DAO has not only continuously iterated and upgraded its products since its launch in 2020, but has also consistently maintained a record of zero-risk operation, which is particularly rare in the industry. Even in the context of the overall sluggish performance of the DeFi market, JustLend DAO can still leverage its robust profitability and financial accumulation to use nearly $60 million in earnings to implement the JST buyback and burn. This move not only demonstrates its strong financial strength and execution capability but also further proves the sustainability of its business model and the solid foundation of its ecosystem value.
JST Relies on the JUST Ecosystem, Occupying 46% of the Total TVL on the TRON Network
JST is not only the core governance token of JustLend DAO but also the native governance token of the JUST ecosystem. Behind it is the core DeFi system of the TRON ecosystem, the JUST ecosystem, which is naturally deeply tied to the development of the entire ecosystem and enjoys comprehensive empowerment and solid support from the underlying ecosystem.
JUST is a one-stop DeFi solution within the TRON ecosystem, focusing on building DeFi protocols based on the TRON network. Since its launch in 2020, JUST has always centered on "creating an integrated DeFi ecosystem," successively launching stablecoins, staking, cross-chain, and other products and services, aiming to provide users with a low-threshold, all-scenario, one-stop DeFi service experience.
As the core DeFi system of the TRON ecosystem, the JUST ecosystem is strong, especially in terms of asset accumulation. According to official data on October 19, the total value locked (TVL) on the TRON network reached $27 billion, of which the JUST ecosystem's TVL was about $12.2 billion, accounting for as much as 46% of the entire TRON network. This means that nearly half of the on-chain crypto assets on TRON are deposited in the JUST ecosystem, fully demonstrating its irreplaceable position as the "ballast stone" of TRON DeFi. It is clear that JUST is not only the DeFi system with the highest TVL in the TRON ecosystem but also a key force driving its overall development.
Currently, JUST has built a complete DeFi product matrix, covering core products such as the lending protocol JustLend DAO, decentralized stablecoin USDD, TRX staking product sTRX, Energy Rental, cross-chain product JustCrypto, and stablecoin system JustStable, providing users with comprehensive coverage from "asset appreciation" to "flexible allocation" in a one-stop manner.
Among them, the lending protocol JustLend DAO is the core product of the JUST ecosystem and the top DeFi application in the TRON ecosystem by TVL, consistently ranking among the top four global lending protocols.
The stablecoin USDD is a decentralized over-collateralized stablecoin jointly launched by JUST DAO and TRON DAO. After upgrading to version 2.0 in January this year, USDD's circulation has grown from zero to over $500 million, making it the second-largest stablecoin in the TRON ecosystem after USDT. Currently, USDD's circulation is $476 million, and the value of locked crypto assets (TVL) exceeds $525 million.
JST is the native governance token of the JUST ecosystem, with a total issuance of 9.9 billion tokens, and achieved full circulation in Q2 2023. JST grants holders the right to participate in JUST ecosystem governance and key decisions, such as voting on new proposals and system upgrades.
It can be seen that through the lending foundation of the core product JustLend DAO, the stablecoin support of USDD, and ecosystem services such as sTRX staking and energy rental, JUST has built a complete on-chain financial closed loop covering "storage, lending, staking, cross-chain, and energy rental." For users, JUST allows one-stop participation in asset deposit, lending, and staking services in the TRON ecosystem without switching platforms, making it the preferred one-stop entry for users to participate in TRON DeFi.
Currently, the JST buyback and burn plan has been tied to the two core pillars of the JUST ecosystem: JustLend DAO (one of the world's top four lending protocols) and USDD (the second-largest stablecoin in the TRON ecosystem). This means that the entire JUST ecosystem will provide stable and strong support for JST from multiple dimensions, including earnings supply, scenario expansion, and resource synergy.
Profit Engine JustLend DAO: Platform Cumulative Earnings of About $60 Million, TVL Consistently Among the Top Four in the Global Lending Sector
As the core funding source for this JST buyback and burn plan, JustLend DAO itself has stable and considerable profitability. The previously accumulated earnings of about $60 million have proven its self-sustaining capability. According to DeFiLlama data, JustLend DAO's fee income in Q3 was close to $2 million. Its strong profitability is not only the key support for this burn but also harbors huge long-term value for JST.
As the core pillar product of the JUST ecosystem, JustLend DAO has evolved from its initial lending service since its launch in 2020 to a "DeFi all-in-one hub" integrating lending, staking, energy services, and smart wallet functions. Its total value locked (TVL) has consistently ranked among the top four global lending protocols, making it an irreplaceable financial core of the TRON ecosystem.
Lending is the core foundational business. JustLend DAO uses smart contracts to automate the entire lending process, with the system algorithmically monitoring asset supply and demand in real time and dynamically adjusting deposit and borrowing rates to ensure the capital market remains efficiently balanced. Currently, users can flexibly allocate assets in JustLend DAO: they can deposit idle crypto assets to earn stable interest or borrow other tokens by collateralizing assets, enabling leverage and flexible investment to meet diverse needs from "steady appreciation" to "efficient allocation."
In terms of product innovation, JustLend DAO has been constantly breaking new ground. In April 2023, JustLend DAO simultaneously launched two major features: "TRX Staking (sTRX)" and "Energy Rental," further expanding its service boundaries.
- sTRX is a liquid staking product in the TRON ecosystem, allowing users to obtain liquid staking certificates (sTRX) by staking TRX. As of October 22 (GMT+8), the platform had about 900 million TRX staked, with over 9,970 staking addresses and a current annual yield of 6.05%, making it the preferred TRX staking entry in the TRON ecosystem.
- Energy Rental is based on TRON's unique "Bandwidth + Energy" gas mechanism. Traditionally, obtaining energy requires staking or burning TRX, which is costly and complex. JustLend DAO's energy rental service allows users to "rent as needed and return on demand" without long-term TRX staking, reducing costs by about 70% compared to direct TRX burning and significantly lowering the on-chain operation threshold for small and medium users.
To further optimize the user on-chain transaction experience, JustLend DAO has innovatively launched the GasFree smart wallet feature, allowing on-chain transfer fees to be directly deducted from the transferred token, breaking the existing limitation of having to hold the network's native token (such as TRX) to pay gas fees. Currently, with GasFree, users can pay gas fees directly with stablecoins such as USDT. Combined with JustLend DAO's 90% fee subsidy policy, each USDT transfer now costs only about 1 USDT, further enhancing the convenience and cost-effectiveness of on-chain operations.
Currently, the JustLend DAO platform has integrated multiple core DeFi modules, including the lending market (SBM), liquid staking sTRX (Staked TRX), energy rental, and smart wallet (GasFree), making it the veritable "one-stop DeFi service entry" in the TRON ecosystem. In the future, the platform will continue to integrate more ecosystem protocols, simplify operational processes, and deepen functional integration to drive the overall growth of the TRON network DeFi ecosystem within a single application.
As clearly stated in the "JUST Ecosystem Overview and Plan" released by JUST in March last year, JUST has built a composite service system around the core lending protocol JustLend DAO, including "lending + staking + energy rental." Users do not need to switch between multiple platforms; they can complete diversified on-chain operations such as "deposit and earn interest + staking mining + energy rental transactions" within the single JustLend DAO protocol, completely breaking the inefficient barriers of traditional DeFi "multi-platform switching."
The "hub" value of JustLend DAO is not only reflected in product function integration but also in its ability to connect global resources and institutional funds. At the end of June this year, TRON's US-listed company Tron staked 365 million TRX through JustLend DAO, making the platform an important channel for traditional funds to enter the TRON chain and is expected to attract more institutional funds in the future. In July of the same year, JustLend DAO completed full integration with Binance Wallet, allowing users to seamlessly access the platform through the Binance ecosystem for lending, staking, and other operations, further expanding user coverage and enhancing the overall ecosystem influence with Binance's global traffic.
According to DeFiLlama data, as of October 22 (GMT+8), JustLend DAO's total value locked (TVL) exceeded $4.5 billion, consistently ranking among the top four global lending protocols. It is worth emphasizing that JustLend DAO's outstanding performance relies solely on deployment on the TRON single chain, yet it can compete with top cross-chain lending protocols such as Aave and SparkLend, with data performance that is not inferior at all.
This achievement not only proves JustLend DAO's strong product competitiveness and operational efficiency but also highlights the high activity and user stickiness of the TRON ecosystem. Evolving from a "single lending tool" to a "DeFi all-in-one hub," JustLend DAO has become a key cornerstone of the TRON ecosystem's financial system, and its value will be further unlocked as the TRON ecosystem continues to expand.
JustLend DAO not only provides solid financial support for JST's current buyback and burn but also means that as the ecosystem expands in the future, it will continue to provide momentum for JST's deflation and value enhancement, becoming the "profit ballast stone" for JST's long-term development.
JST Token Value Deeply Linked to Ecosystem Earnings, Poised to Start a New Growth Cycle
With the continuous advancement of the JST buyback and burn plan, the value of the JST token is now deeply tied to the sustained income of the two core components of the JUST ecosystem: JustLend DAO and USDD. While entering a clear deflationary mechanism, JST's long-term value will also gradually emerge, relying on the comprehensive development of the overall JUST ecosystem.
As early as April this year, TRON founder Justin Sun pointed out on social media platform X that JST has achieved a fundamental reversal and is expected to become the next "100x coin." He further emphasized that JustLend, incubated by JUST, has become one of the industry's leading lending protocols, with annual net profits reaching tens of millions of dollars, while its ecosystem stablecoin USDD is also showing strong growth. JST has essentially become a combination of "AAVE" and "MKR" in the TRON ecosystem, with annual profits continuing to rise. It is expected that next year's revenue will exceed $100 million.
Now, with the execution of the buyback and burn plan, JST's long-term growth potential is gradually being realized, with its core driving force stemming from the "deep synergy between ecosystem earnings and the deflationary mechanism": the existing net earnings of JustLend DAO and its future incremental net earnings with USDD will be directly used to buy back and burn JST. This means that JST's deflationary model is not just empty talk but is based on real ecosystem profits, forming a deep binding between ecosystem earnings and token value—JustLend DAO and USDD's income performance will directly translate into JST's endogenous driving force for value growth.
As the two core products supporting this mechanism, JustLend DAO currently has a TVL of about $7.7 billion, integrating lending, energy rental, sTRX staking, and other functions, with both user scale and profitability improving simultaneously; USDD, as the second-largest stablecoin in the TRON ecosystem, has a circulation close to $500 million, and its application scenarios are constantly expanding. As the earnings of these two protocols continue to grow, more funds will continue to flow into the JST buyback pool.
At the same time, the overall "supporting power" of the JUST ecosystem also provides a solid endorsement for JST's value: not only does it reinforce JST's value foundation through the sustained earnings of the core pillars JustLend DAO and USDD, feeding back into token deflation, but it also expands JST's application boundaries through the rich DeFi scenarios within the ecosystem. Ultimately, this helps JST further consolidate its value anchor and expand its development space in the crypto field, achieving a comprehensive upgrade from tokenomics to ecosystem value.
This model of "real earnings support, transmitting ecosystem value through a deflationary mechanism" is a typical feature of "value tokens" in the crypto field and lays a solid narrative foundation for JST's long-term value. As the JUST ecosystem continues to develop, JST's governance and economic value will rise in tandem with JustLend DAO's TVL and USDD's circulation, ultimately building a sustainable growth loop of "ecosystem expansion → earnings growth → buyback and burn → deflationary appreciation," perfectly fitting the core logic of crypto asset value accumulation.
