JustLend DAO burns 355M JST in largest single-round burn

JustLend DAO completed its fourth buyback and burn round on July 17, removing 355,021,530.97 JST from circulation, a sum the DAO values at $34.59 million. The tokens represent 3.59% of JST’s total supply.

The round combined a scheduled Q2 buyback and a separate burn of historical USDJ stability fees. The Q2 buyback destroyed 248,357,799 JST, which the DAO values at about $24.2 million. The DAO allocated $20.6 million drawn from protocol revenue to the Q2 purchase, funded by roughly $10.28 million in Q2 net income and about $10.34 million from accumulated reserves. The separate USDJ stability-fee burn removed 106,663,731.97 JST, carrying an estimated value of $10.39 million.

Across four completed rounds since the program began in October 2025, JustLend DAO has removed 1,711,249,863 JST, equal to 17.29% of the total supply.

Market data show JST rose above $0.10 on July 10, reaching an intraday high of $0.1045, its strongest level since December 2021. Over the past 12 months the token has gained about 178%, and its market capitalization is near $874 million.

Operational updates coincided with the buyback schedule. On June 16 the protocol launched SBM V2, an upgrade that introduces an isolated-collateral lending model. On July 6 the platform added integration with a major wallet’s DeFi section and joined the TRON DeFi Summer campaign, a promotion with a $4.5 million total prize pool and a $2.15 million reward pool for Season 1, which accepts TRX, USDD, JST and SUN among eligible assets.

JustLend DAO reports that the buyback program is funded through operating revenues and reserves, and that funds for regular quarterly buybacks come from those streams. The USDJ stability-fee burn was carried out separately from the quarterly budget and removed additional tokens beyond the planned Q2 purchase.

Some decentralized finance projects have reported falling revenues and tighter liquidity in recent months. JustLend DAO implemented the combined Q2 and fee burn using its stated revenue and reserve sources. The protocol records each completed round as a permanent token removal that reduces total supply.