JUST (JST) Exchange

About JUST

JST is the governance token of JUST, a delegated proof-of-stake DeFi platform on the TRON blockchain that bundles a lending market, liquid staking, stablecoin issuance, and energy rental into a single protocol. Borrowers and stablecoin minters pay interest and stability fees in JST — not to a centralised treasury, but through a revenue routing mechanism that converts a share of those earnings into quarterly on-chain buybacks and permanent burns.

JST tokenomics

JUST launched with a fixed total supply of 9.9 billion JST, which reached full circulation in Q2 2023. In October 2025, JustLend DAO shifted the model from static to actively deflationary by introducing a revenue-funded buyback-and-burn program. Cumulative burns reached 1.88 billion JST — 19.01% of total supply — after the fifth buyback-and-burn round on October 16, 2026, according to JustLend DAO's burn announcements.
Total supply — 9.9 billion JST; fixed at the protocol level with no additional minting
Circulating supply — approximately 8.02 billion JST as of October 2026, according to CoinGecko; 1.88 billion tokens had been permanently removed through burns as of October 16, 2026
Burn mechanism — JustLend DAO allocates 30% of quarterly protocol revenue to purchase JST from open markets and destroy it on-chain; Q2 2026 alone removed 355 million JST (~$34.59M), according to CryptoRank
Revenue sources — lending and borrowing fees from the Supply and Borrow Market, sTRX liquid staking yield, energy rental income on TRON, and USDD/USDJ stability fees
Governance rights — JST holders vote on protocol parameters including interest rate models, collateral ratios, and burn schedule adjustments
Q3 2026 burn — the fifth round on October 16, 2026 burned 170,723,144 JST (about $23.53M, or 1.72% of supply), funded by $9.28M of Q3 net income and $10.34M from a historical revenue allocation, according to JustLend DAO

What determines JST's value

JST's primary demand mechanism is a revenue-to-scarcity feedback loop: fees collected across JustLend DAO's product suite fund quarterly buybacks, which reduce outstanding supply at a rate tied directly to protocol usage — not treasury decisions. JustLend DAO's TVL passed $6.71 billion in January 2026 with over 480,000 users, as reported on January 28, 2026; at that scale, the lending and staking revenue flowing into JST burns is generated continuously rather than front-loaded. Every USDD stability fee paid by stablecoin minters and every borrowing fee collected from margin users increases the quarterly buyback pool.

A secondary driver is governance utility: JST holders vote on the exact parameters that determine how aggressively protocol revenue converts into burns, giving token holders direct structural influence over the deflationary rate. Cumulative burns through Q2 2026 were valued at approximately $94.62M, against a circulating supply worth under $900M at Q2 2026 prices. The burns are executed on-chain and recorded in JustLend DAO's published burn records.