JustLend DAO burns 355M JST, removes 3.59% of supply

On July 17 JustLend DAO executed a buyback and burn that removed 355,021,530.97 JST from circulation, representing 3.59% of the token’s total supply and about $34.59 million in value. The combined operation set a record for the largest single-round burn by value in the program’s history.

The burn consisted of two streams. A scheduled Q2 2026 buyback destroyed 248,357,799 JST, with an estimated value of $24.20 million. The Q2 buyback was funded with $20.6 million drawn from the DAO’s operating revenue. Separately, 106,663,731.97 JST-valued at about $10.39 million-was removed from circulation as part of a one-time burn of accumulated USDJ stability fees.

JustLend DAO reported the $20.6 million funding pool for the Q2 buyback was made up of roughly $10.28 million in net income for the quarter and about $10.34 million in historical reserves. The USDJ stability-fee burn was executed outside the regular quarterly budget and used historical fee accumulations.

Since the program began in October 2025, four buyback and burn rounds have removed a total of 1,711,249,863 JST, equal to 17.29% of the token’s supply. That cumulative total reflects the nine-month period from the program’s launch to mid-July 2026.

Market data showed JST rose above $0.10 on July 10, reaching an intraday high of $0.1045, its strongest level since December 2021. Over the past year the token gained about 178%, and its market capitalization was near $874 million, placing it among the roughly top 70 cryptocurrencies by market value.

On June 16 JustLend rolled out SBM V2, an upgrade introducing isolated-collateral lending intended to improve capital efficiency. On July 6 the platform integrated with the DeFi section of a major wallet and joined the TRON DeFi Summer campaign, which has a total prize pool of $4.5 million and a Season 1 reward pool of $2.15 million. The campaign offers rewards for supplying assets including TRX, USDD, JST and SUN on JustLend.

JustLend DAO has reported consistent eight-figure quarterly profits and stated that funds for the routine buybacks have come from protocol operating revenue and reserves. The USDJ fee burn used accumulated stability fees and was carried out separately from scheduled buyback funding.

The broader decentralized finance sector has seen declines in revenue and liquidity for many projects. In that context, the JUST ecosystem completed the scheduled Q2 buyback and added a separate USDJ stability-fee burn, both of which were financed by the DAO’s reported income and reserves.