JST第四次回購銷毀超過3.55億枚，銷毀金額創歷史新高

On July 17, the JUST ecosystem, a decentralized finance infrastructure on the TRON blockchain, successfully completed its fourth round of large-scale JST buyback and burn.

This round burned over 355 million JST tokens, accounting for 3.59% of the total token supply. The corresponding burn value surpassed $34.59 million, setting a new single-round record and significantly exceeding the community's general expectations.

The strength of this buyback and burn was driven by the combination of two key initiatives: the regular Q2 2026 buyback and burn plan, plus a separate specialized burn of historical USDJ stability fees. The combined funds elevated the actual burn value to a new high, significantly surpassing market estimates and releasing greater-than-expected ecosystem benefits for global JST holders.

It is important to emphasize that all funds for this round's regular Q2 buyback and burn came 100% from JustLend DAO's real protocol operating revenue. From revenue generation to the final buyback execution, the fund flow is clear and transparent, relying entirely on the ecosystem's core business for internal value generation. This not only confirms that the JST buyback and burn mechanism has a real, sustainable funding base, but also means that the continuous real business cash flow from JustLend DAO provides a steady stream of capital for JST's ongoing deflation.

In the current industry downturn, the JUST ecosystem is moving against the trend, leveraging JustLend DAO's robust profitability. By committing tens of millions of dollars in real funds, it continues to execute rounds of large-scale buybacks and burns as scheduled. This not only fulfills the deflationary promises made to the community but also sets a benchmark practice for the entire DeFi industry, demonstrating how long-term sustainable business cash flow can empower a token's intrinsic value.

JST's Fourth Buyback and Burn Exceeds Expectations: Q2 Regular Buyback and Burn Combined with Specialized USDJ Burn Totals Over 355 Million JST

Unlike the previous three rounds that mainly followed the quarterly plan, this round added the burn of historical USDJ stability fees as an independent increment, creating a dual-engine structure: "Regular Buyback and Burn + Specialized Burn Enhancement." This significantly boosted the total single-round burn value and, with a force far exceeding community expectations, translated long-term deflationary promises into tangible value returns. It fully demonstrates the JUST ecosystem's continued investment in the JST buyback and burn mechanism and its determined commitment to supporting the token's intrinsic value during market volatility.

According to the official announcement on July 17 regarding the completion of the fourth JST buyback and burn, a total of over 355 million JST tokens were burned (specifically 355,021,530.97 JST), representing 3.59% of the total supply. The total value of the burned funds exceeded $34.59 million (specifically $34,594,686), significantly surpassing the global community's general expectations.

Looking at past buyback and burn history, the first three rounds each involved around $20 million. Market expectations for this round were generally in line with this range. However, the actual investment exceeded $34.59 million, an increase of over 70% compared to the average of the third round, representing a leap in execution intensity that far exceeded community expectations.

The unexpected expansion of this round's burn scale stemmed from the coordinated execution of two independent funding components: besides the regular Q2 2026 buyback and burn, the round included the first-ever specialized burn of historical USDJ stability fees. The breakdown is as follows:

· Q2 2026 Regular Buyback and Burn: Burned approximately 248 million JST (248,357,799 JST), using $20.6 million in protocol revenue, currently valued at an estimated $24.2 million.

· USDJ Historical Stability Fee Specialized Burn: Burned approximately 106.6 million JST (106,663,731.97 JST), currently valued at an estimated $10.39 million.

The Q2 regular buyback and burn is a scheduled quarterly action within the JST buyback mechanism. The USDJ historical stability fee burn, however, is a new, one-time increment exclusive to this round, independent of the original mechanism. It represents an unexpected bonus for global JST holders on top of the regular value returns. The combination pushed the total burn for this round to an all-time high.

With the successful completion of the fourth large-scale buyback and burn, JST's deflation has accelerated significantly. As of July 15, JST has completed four rounds, with a cumulative burn of over 1.711 billion tokens (1,711,249,863 JST), or 17.29% of the total supply.

This means that since the launch of the JST buyback and burn program in October 2025, nearly one-fifth of all JST has been permanently removed from circulation in just 9 months. Such a high-frequency, high-execution, and continuous burn schedule is rare in the entire DeFi space.

With each completed round, JST's circulating supply shrinks, scarcity increases, and the cumulative effect of long-term deflation deepens, strengthening the token's value base. The continuous, on-chain verified burn operations have upgraded JST's value proposition from an early-stage deflationary expectation to a publicly verifiable "on-chain reality," solidifying its value foundation.

According to CoinGecko data, on July 10, the JST price broke through the $0.1 mark, reaching an intraday high of $0.1025, a new high since December 2021. JST's cumulative increase over the past year exceeds 178%, and its current circulating market cap is approximately $874 million, placing it among the top 70 cryptocurrencies globally.

The steady rise in both price and market cap directly validates the positive feedback loop driving JST's value: protocol revenue fueling buybacks and burns, which accelerate deflation and increase value. It also demonstrates strong market recognition of this value model.

JustLend DAO's Sustained Profitability Solidifies JST's Long-Term Deflationary Value Base

Apart from this round's new addition of the USDJ stability fee burn, all funds for the previous four buyback rounds originated from JustLend DAO's real business operating revenue. As the core funding pillar for JST's buyback and burn, JustLend DAO has maintained stable and sustainable profitability, providing ample funds for the regular large-scale burns. Simultaneously, the platform continues to upgrade its core products, expand its cross-ecosystem partnerships, and steadily strengthen its competitive edge in DeFi, solidifying JST's long-term deflationary value foundation with its stable internal cash flow.

The actual $20.6 million used for the Q2 2026 regular buyback and burn all came from JustLend DAO's real operating revenue. This revenue is composed of two parts, forming a dual-pillar stable supply structure:

· Net New Revenue (Incremental Engine): JustLend DAO's net revenue for Q2 was approximately $10.28 million, all generated by current quarter's core business activities, directly reflecting strong platform profitability.

· Historical Reserves (Base Stock): Accumulated reserve revenue from previous periods was approximately $10.34 million, providing stable baseline funding for the quarterly burns.

The combination of historical reserves and quarterly net revenue creates a complete funding system with a "base stock and incremental expansion," constituting the full capital pool for the Q2 regular buyback. The addition of the USDJ historical stability fee burn is an extra increment independent of the quarterly budget, further accelerating JST's deflation and providing lasting momentum for value appreciation. The data confirms that JustLend DAO's single-quarter Q2 profitability remains stable in the tens of millions of dollars, demonstrating highly sustainable earning power.

With this stable revenue base, JustLend DAO has recently focused on product performance upgrades and expanding mainstream traffic channels, executing significant moves in the past two months that open up ample room for future revenue growth:

On June 16, JustLend DAO launched the upgraded SBM V2 lending market. It introduces independent isolation pools to optimize capital efficiency, while simultaneously strengthening asset security and reducing systemic risk, enhancing the protocol's long-term profit ceiling from the ground up.

On July 6, JustLend DAO was integrated into the Binance Wallet DeFi interface, with its core liquidity pools opened, officially tapping into a major Web3 traffic gateway. Furthermore, on the occasion of Binance's 9th anniversary, JustLend DAO, together with core TRON ecosystem projects like USDD and SUN.io, launched the widely anticipated "TRON DeFi Summer" event in collaboration with Binance Wallet, featuring a total prize pool of up to $4.5 million. The "TRON DeFi Summer" Season 1 has already started, with an initial exclusive prize pool of up to $2.15 million. Users can unlock substantial rewards by depositing assets like TRX, USDD, JST, and SUN into JustLend DAO. These series of coordinated actions not only bring significant incremental capital and new user groups to JustLend DAO but also establish a complete user conversion path from top-tier CEX traffic into the TRON ecosystem, opening new growth curves for the platform's future revenue.

Driven by stable and sustainable operating profits, a continuously evolving product suite, and an expanding ecosystem partnership network, JustLend DAO maintains a healthy upward growth trajectory with a clear and highly deterministic path. This steady stream of internal cash flow can consistently support JST's high-volume, regular buybacks and burns, continuously reinforcing JST's deflationary value base.

While JustLend DAO, the mature core revenue engine, operates smoothly, JST's second major funding source for buybacks and burns—the USDD stablecoin ecosystem—is entering a period of rapid growth. According to official data released on July 17, USDD's total supply exceeded $1.45 billion, protocol TVL surpassed $2.12 billion, and the treasury's disposable balance reached $21.54 million. As the USDD ecosystem scales up, its profit potential will gradually be unlocked, positioning it as a potential second core funding pillar for JST buybacks in the future.

In contrast, the current crypto market is in a cycle of deep correction and fierce consolidation. Many DeFi projects are under dual pressure from declining revenues and tightening cash flows, forcing them to cut value-return budgets and slow down ecosystem development. Some well-established projects have even ceased operations entirely.

In stark contrast to this industry-wide retrenchment, the JUST ecosystem has charted a completely independent path of counter-cyclical growth. Facing persistent downward market pressure, the ecosystem not only maintained its JST buyback and burn investment but actively sought new revenue channels. By innovatively incorporating USDJ historical stability fees, it added incremental burn volume on top of the regular quarterly burn, amplifying deflationary pressure during an industry downturn and translating its long-term deflationary strategy into tangible value returns for users.

This series of coherent, sustained, and over-performing actions fully demonstrates the JUST ecosystem's strong execution capability and long-term strategic resolve. It also powerfully validates the ecosystem's solid and stable business fundamentals and continuous cash generation ability. Despite ongoing volatility in the external market environment, relying on JustLend DAO's mature profitability system and the new growth potential of the USDD ecosystem, JUST can fully and steadfastly fulfill its value promises to global contributors, continuously driving the JST deflation flywheel at high speed.