JST ushered in its second buyback and burn: the cumulative total supply burned was 10.96%, accelerating into a new era of value growth

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

According to the official announcement of JustLend DAO, the estimated value of this burn exceeds $21 million, plus the number of JST burns in the first round, and the cumulative amount of JST tokens burned has reached 1,084,890,753, accounting for 10.96% of the total supply. This means that in less than three months, JST has achieved a permanent removal of more than one-tenth of its total supply, with an impressive rate of deflation.

From a broader perspective, this burn marks a fundamental evolution in JST’s value narrative. It is transforming from a governance token to an equity asset anchoring ecological cash flow growth. This process not only enhances the scarcity and value foundation of JST tokens but also provides a clear and practical path for the decentralized finance field to drive token value with real returns, demonstrating a new paradigm of transparent and sustainable deflation.

The JustLend DAO ecosystem is strong, creating the financial cornerstone for large-scale buybacks

Such a large-scale buyback and destruction must be supported by a solid financial foundation. The announcement clearly reveals the dual pillars of funding sources: a whopping $10,192,875 comes from JustLend DAO’s net earnings in Q4 2025, while another $10,340,249 comes from the project’s accumulated stock yield reserves. These two figures are the most powerful proof of performance in themselves, and together they point to a core fact: the JustLend DAO ecosystem not only has strong immediate profitability, but also has a solid financial structure and sustainable cash flow, which is a solid foundation to support its buyback commitments and promote its deflationary strategy.

An in-depth analysis of JustLend DAO’s performance in Q4 2025 reveals several clear growth lines. First of all, as the flagship lending protocol of the JUST ecosystem, JustLend DAO has benefited from the continuous improvement of TRON’s infrastructure, with its total value locked (TVL) exceeding the $7.08 billion mark in the fourth quarter and ranking among the top three in the lending market for a long time, and its lending activity in the SBM market has also climbed to a new cycle high.

Notably, the $10,340,249 stock earnings, which constitute a significant portion of the repurchase funds, can be traced back to the reserve earnings deposited into the SBM USDT market during JST’s initial repurchase. The process of appreciation of this fund itself is the most direct proof of the strong profitability of the SBM market. It demonstrates JustLend DAO’s ingenious financial operation model: strategically recycling ecological profits, allowing it to continue to “self-hematopoiesis” within the protocol, thereby providing an endogenous and sustainable source of funds for subsequent value returns.

On this basis, JustLend DAO’s revenue structure is more diversified. In addition to maintaining steady growth in the traditional lending market, JustLend DAO has innovatively built product matrices such as sTRX (Staked TRX) and Energy Rental, greatly expanding the boundaries and depth of its value capture.

Among them, the sTRX service allows users to stake TRX to earn rewards while still flexibly participating in other DeFi activities, which is an innovative design that significantly improves capital efficiency and user stickiness. As of January 15, the platform’s TRX pledge has exceeded 9.3 billion, which not only reflects the community’s high recognition of sTRX products, but also brings it considerable and sustainable service revenue.

At the same time, the “energy leasing” service, which aims to reduce user on-chain operating costs, has also shown strong market appeal through active rate optimization. From September 2025, the base rate for this service will be significantly reduced from 15% to a more competitive 8%. The optimization of rates directly stimulates market demand and transaction frequency, thereby generating solid incremental revenue for the agreement in the more active leasing business.

While the core product matrix continues to make efforts, JustLend DAO aims to lower the participation threshold for mass users and innovatively launched the GasFree smart wallet in March 2025, which completely breaks down the long-standing barrier that has plagued novice users by requiring users to hold the native token (TRX) in advance to pay fees, allowing users to directly deduct and pay the required network fees from their transferred token assets (such as USDT). This design not only achieves the ultimate convenience of operation but also essentially broadens the accessibility of blockchain finance.

To accelerate the adoption of this innovative feature, JustLend DAO has launched an attractive 90% transfer fee subsidy campaign. With the support of this event, users can use the GasFree function to transfer USDT with a very low payment of about 1 USDT. This combination strategy quickly detonated market demand. As of January 15, the total transaction volume driven by the GasFree smart wallet has exceeded $46 billion, an astonishing scale that not only validates the market’s strong desire for a frictionless trading experience but also directly saves users more than $36.25 million in network fee costs. This innovation has introduced huge incremental users and capital flow to the ecosystem by significantly reducing the actual cost of use and cognitive threshold, constituting another strong growth pole for the platform’s network effect and revenue potential.

At the same time, another funding channel in the buyback and burn program, the incremental income of the USDD multi-chain ecosystem (over $10 million), also constitutes a source of value that cannot be ignored. As the core decentralized stablecoin of the TRON ecosystem, USDD has achieved remarkable results in its multi-chain expansion strategy, successfully deploying on mainstream public chains such as Ethereum and BNB Chain, broadening its application scenarios and user base.

Its ecosystem value has recently achieved a milestone leap, with USDD’s TVL historically surpassing the $1 billion mark on January 14. This means that USDD’s TVL has grown by an astonishing 100% in less than two months, and its expansion speed and market acceptance fully confirm the stablecoin’s strong momentum and deep asset appeal in the multi-chain ecosystem. The rapid growth of its TVL and the continued prosperity of the ecosystem significantly enhance the potential scale of this funding channel in the future, providing a predictable source of value for JST’s buyback and burn plans in subsequent quarters.

Through its deep integration with different DeFi protocols, USDD not only consolidates its anchoring stability but also creates a continuous inflow of value for the entire ecosystem. The JST buyback and burn plan includes excess revenue from the USDD ecosystem, which builds a value closed loop of “stablecoin + lending protocol + governance token”. In this model, the expansion and prosperity of USDD and JustLend DAO directly provide the power for JST’s deflation, and the increase in JST’s value in turn enhances the attractiveness and cohesion of the entire TRON DeFi ecosystem, forming a strong internal synergy and value feedback effect.

Deflationary Mechanism Deepening: A Revolutionary Reshaping of JST’s Value Foundation

To sum up, the significance of this repurchase and destruction has long gone beyond the scope of simple price support, and it is triggering a series of profound structural changes. The most fundamental thing is to complete the reshaping of JST’s value support logic. JST is no longer just an “instrumental token” used to pay network fees or participate in governance voting, it has evolved into an “equity asset” that directly anchors the cash flow performance of JustLend DAO, USDD and related ecosystems.

Through the buyback and burn mechanism, the profit growth of the ecosystem is continuously injected into the value base of JST tokens, which makes holding JST equivalent to holding a stake certificate to share in the future profit growth of the ecosystem. On January 8, CoinMarketCap data showed that JST’s market capitalization historically exceeded the $400 million mark, which is not only a numerical leap but also a substantial recognition of its new positioning. On January 8, its 24-hour trading volume increased significantly by 21.92% to $31.49 million, and the price also rose steadily by 10.82% in the past month, with an intraday increase of 3.1%.

The simultaneous expansion of trading volume and market capitalization at key nodes is not an accidental market fluctuation, but a clear “vote of confidence” cast by funds in the face of the fundamentals of the JUST ecosystem, especially the profitability and value feedback mechanism demonstrated by the repurchase and destruction.

Secondly, the JST buyback and burn also brought substantial value-added to governance power. As the total amount of tokens decreases irreversibly, the governance weight of the protocol represented by each JST remaining in the market will increase accordingly. This means that long-term holders not only enjoy the economic benefits of value enhancement, but also have a voice in key community decisions (such as parameter adjustments, new product launches, and the use of treasury funds). This design deeply binds the interests of core community members to the long-term success of the protocol, greatly enhancing the stability and participation of the community.

From a broader industry perspective, JST’s buyback and burn practices provide a clear new paradigm for tokenomics in the DeFi field. In a very short period of time, 10.96% of the total supply was removed through two rounds of burning, which not only demonstrates efficient execution but also deeply binds the financial success of the protocol to the interests of token holders, thus establishing a virtuous cycle of “value creation-value return”.

This model fundamentally reverses the old logic of relying on speculative narratives for token value and shifts to a sustainable path driven by the cash flow of protocol fundamentals, providing a solid and credible case for how the industry can build an economic model supported by real value.

Looking ahead, as quarterly JST buybacks and burns become the norm, a clear and predictable deflationary path has been paved, and JST’s scarcity will be a definite narrative that will intensify over time. Every disclosure of a quarterly report and the subsequent destruction will be a catalyst for a reassessment of its intrinsic value. This destruction is not the end, but the beginning of a more magnificent chapter of value accumulation, a value revolution supported by ecological profitability and driven by product synergy, has pressed the acceleration button.