JUST Burns 170.7M JST in Fifth Buyback Ahead of Upgrade

JUST, a DeFi infrastructure provider in the TRON ecosystem, burned 170,723,144 JST tokens on Oct. 16, the company announced Oct. 17. The tokens were valued at about $23.53 million and represented 1.72% of JST’s total supply.

The buyback was funded by JustLend DAO’s net operating revenue. The funding included $10.34 million from existing income and $9.28 million from an increase in third-quarter net income.

The latest transaction brings the total number of JST tokens burned across five rounds to about 1.881 billion. JUST reported that the burns reduced the token’s supply from 9.9 billion to about 8.02 billion, a reduction of more than 19%.

The buyback program began in October 2025 and operated on a quarterly schedule. The first round, completed on Oct. 19, 2025, burned about 559 million JST with $17.72 million deployed. The second round on Jan. 14, 2026, burned about 525 million tokens with about $21 million deployed. The third round on April 15 burned about 271 million tokens with about $21.3 million deployed.

The fourth round, completed on July 17, burned about 355 million JST with $34.59 million deployed. It included about $10.39 million from historical USDJ stability fees in addition to the regular funding.

Across the five rounds, more than $100 million was deployed. JUST reported that the latest round used the remaining 70% of the initial treasury reserves allocated to the program, completing its first phase. The initial plan allocated more than $59 million in reserves through an upfront payment and later tranches.

The original framework also included revenue from USDD cross-chain activity once cumulative earnings reached $10 million. That threshold has not been reached, so the first phase relied mainly on JustLend DAO’s reserves and quarterly revenue.

The second phase is planned to include additional funding sources, including revenue from GasFree, according to JUST’s first-quarter 2026 financial report. The company has not disclosed the full schedule, allocation rules or integration details for the upgraded mechanism.

Market data cited by JUST showed JST trading near $0.03 in October 2025 before reaching $0.142 on Oct. 10, 2026. Its circulating market capitalization also exceeded $1 billion, according to the same data.