JST's fifth buyback and burn has successfully concluded: this time, over 170 million tokens were burned, valued at approximately 23.53 million USD, and the buyback mechanism is about to be fully upgraded

On October 17, the leading DeFi infrastructure of the TRON ecosystem, JUST, announced the successful completion of its fifth large-scale repurchase and destruction operation of its native token JST as scheduled. A total of over 170 million JST tokens were destroyed, accounting for approximately 1.72% of the total token supply, with an estimated value close to 23.53 million USD. Consistent with the previous four operations, the funds for this repurchase came entirely from the actual operating net income of the core protocol JustLend DAO within the JUST ecosystem.

Looking at a longer time dimension, with the implementation of the fifth destruction, JST has executed repurchase and destruction for five consecutive quarters since October 2025, with each round involving an investment of over ten million USD, and each completed on time as planned without any delays.

In terms of cumulative results, as of now, the five rounds of repurchase and destruction have destroyed a total of over 1.881 billion JST, with a cumulative deflation rate exceeding 19%, and the actual repurchase funds invested have surpassed 100 million USD; based on the market price peak of 0.142 USD per JST on October 10, the total market value of the permanently destroyed tokens exceeds 267 million USD.

Within a year, the continuous execution of five rounds of repurchase and destruction at the tens of millions USD level, without interruption or reduction in amount, not only directly proves the strong and sustainable profitability of the JUST ecosystem but also indicates that this long-term value return mechanism aimed at the community is continuously fulfilled in a verifiable and traceable manner.

With the implementation of the fifth repurchase and destruction, JST also reaches a milestone: the remaining 70% portion of the stock income extracted from the JustLend DAO ecosystem, as planned at the start of the repurchase and destruction mechanism, has now been fully invested in repurchase and destruction. This marks the comprehensive conclusion of the first phase of JST's repurchase and destruction, and the mechanism will thus enter a new upgrade phase.

Successful Completion of JST's Fifth Repurchase and Destruction: Over 170 Million Tokens Destroyed, Fund Value Exceeds 23.53 Million USD

According to the official announcement titled "Announcement on the Completion of the Fifth Repurchase and Destruction of JST Tokens," the fifth repurchase and destruction of JST has been successfully completed. As a routine repurchase for the third quarter of 2026, a total of 170,723,144 JST tokens (approximately 170 million) were destroyed, accounting for about 1.72% of the total token supply, corresponding to an estimated value exceeding 23.53 million USD.

In terms of the scale of destruction and funds invested, this round is basically equivalent to the previous four routine quarterly levels, continuing the stable and predictable execution rhythm of JST's repurchase and destruction.

Further examining the source of funds, the funds for this repurchase and destruction came entirely from the operating net income of the JustLend DAO platform, specifically composed of two parts: one is the last batch of stock income of 10.34 million USD from JustLend DAO, and the other is the newly added net income of 9.28 million USD in Q3.

From the quarterly earnings performance, JustLend DAO achieved a new net income of 9.28 million USD in Q3, which is basically on par with the previous quarter's performance, maintaining a stable quarterly net income at the ten million USD level, with the fundamentals of ecological earnings remaining robust.

At the same time, the remaining 70% portion of the stock income extracted from JustLend DAO at the start of the JST repurchase and destruction has also been fully invested in this round of repurchase and destruction. This detail not only clearly presents the composition of the funds but also signifies the formal conclusion of the early planned use of stock income, with the JST repurchase and destruction mechanism set to undergo a comprehensive upgrade.

On the operational level, this round of repurchase and destruction continues to adhere to the principles of openness and transparency, with all operations completed on-chain. The destruction address has been publicly disclosed, and information such as the quantity destroyed and transaction hashes can be verified and traced at any time through the TRONSCAN blockchain explorer. All destroyed JST tokens have been transferred to a publicly verifiable black hole address, completely removed from the circulation system, eliminating the possibility of subsequent market reflow.

From the market and ecological perspective, with this implementation, JST has again invested over 20 million USD, with approximately 170 million JST permanently removed from circulation. This not only directly compresses the token supply of JST but also relies on the continuous investment in destruction based on the ecosystem's actual revenue, further confirming that the JUST ecosystem possesses robust and sustainable profitability.

More significantly, the implementation of the fifth destruction represents that the JST repurchase and destruction mechanism has completed its first annual execution cycle. A year ago, it was a newly launched ecological return plan; a year later, after five market validations, it has evolved into a normalized system, executed on time quarterly, and continuously fulfilling commitments based on actual ecological earnings. This stable and predictable commitment is gradually becoming a common expectation for community users every quarter.

Completion of Five Rounds of Repurchase and Destruction Within a Year: Cumulative Investment from JustLend DAO Exceeds 100 Million USD, JST's Annual Growth Exceeds 300%

From the initiation of the mechanism in October 2025 to the implementation of the fifth round of repurchase and destruction on October 16, 2026, the JST repurchase and destruction mechanism has been in operation for a full year. Within this year, JST has continuously completed five rounds of large-scale repurchase and destruction at the tens of millions USD level, all executed on schedule quarterly, with no delays or interruptions. In total, approximately 1.881 billion JST have been destroyed, with a cumulative deflation rate exceeding 19%, and the actual repurchase funds invested have surpassed 100 million USD, primarily from the actual operating income of JustLend DAO.

As each repurchase is orderly implemented, the circulating supply of JST continues to be compressed, and the deflationary effect accumulates, while the long-term value return mechanism of the JUST ecosystem aimed at the community has been fully validated in market practice. Meanwhile, the price of JST resonates positively with the repurchase and destruction mechanism: the annual cumulative growth exceeds 300%, and the circulating market value has surpassed 1 billion USD, successfully ranking among the top 70 cryptocurrencies by market value globally.

The execution details of JST's five rounds of repurchase and destruction are as follows:

• First round (October 19, 2025): Destroyed approximately 559 million JST, accounting for 5.66% of the total supply, corresponding to approximately 17.72 million USD;

• Second round (January 14, 2026): Destroyed approximately 525 million JST, accounting for 5.30% of the total supply, corresponding to approximately 21 million USD;

• Third round (April 15, 2026): Destroyed approximately 271 million JST, accounting for 2.74% of the total supply, corresponding to approximately 21.3 million USD;

• Fourth round (July 17, 2026): A total of approximately 355 million JST were destroyed, accounting for 3.59% of the total supply, corresponding to 34.59 million USD, which for the first time included special destruction funds from USDJ historical stability fees (approximately 10.39 million USD);

• Fifth round (October 16, 2026): Destroyed approximately 170 million JST, accounting for about 1.72% of the total supply, corresponding to a value of approximately 23.53 million USD.

In terms of execution intensity, within the one-year period, JST has continuously completed five rounds of repurchase and destruction, with each round's scale mostly around 20 million USD, and the cumulative actual funds invested exceeding 118 million USD, with the cumulative destruction volume approaching one-fifth of the total supply. Such execution frequency, intensity, and scale are rare in the current DeFi industry's token repurchase cases.

When viewed in the context of the industry, its rarity becomes even clearer. According to data released by Allium Labs in August, since 2026, the total expenditure on token repurchases among sampled crypto projects is approximately 638 million USD, covering leading protocols such as Hyperliquid, pump.fun, ChainLink, Sky, and Jupiter.

Outside of the sampled projects, the repurchase and destruction efforts of the JUST ecosystem remain prominent: as of October 16, in 2026 alone, the actual funds used for JST repurchase and destruction approached 100 million USD; if calculated at the recent market price peak of 0.142 USD per token, the value of the JST tokens destroyed this year has exceeded 190 million USD. It is important to distinguish that the former refers to the actual invested funds, while the latter is the token value calculated at market price. Regardless of the metric used, this scale is on par with the strongest repurchase efforts among leading protocols in the industry.

The stable execution over the course of a year has allowed the value of the JST repurchase and destruction mechanism to exceed the short-term benefits of a single destruction. This mechanism is not an isolated market action but is transmitted layer by layer along the chain of "fundamental basis --- execution assurance --- transparent trust --- deflationary results --- market feedback," building a solid long-term value support system.

On the funding basis, the JST repurchase and destruction relies on the endogenous cash flow of the actual business of the JUST ecosystem, establishing a solid value foundation. In the five completed rounds of repurchase and destruction, except for the fourth round which included the special destruction of USDJ historical stability fees, all repurchase funds have come from the actual operating income of JustLend DAO, with a cumulative investment value exceeding 100 million USD, including both the stock income accumulated by the platform in its early stages and the newly added operating profits each subsequent quarter. This means that the repurchase and destruction has been built on sustainable real business cash flow from the very beginning, rather than relying on short-term capital maneuvering or marketing hype, ensuring the mechanism's inherent nature and sustainability from the source, forming the cornerstone of the entire value system.

In terms of execution assurance, the continuous resilience of funds and the stable rhythm of execution have jointly verified the sustainability of the repurchase and destruction mechanism. In terms of fund resilience, the scale of each repurchase has started from the initial 17.72 million USD, then stabilized around 20 million USD, with the fourth round, including the USDJ special destruction, reaching a historical high of 34.59 million USD; in terms of execution rhythm, each of the five quarters has been executed on time, with no delays, interruptions, or significant reductions in scale, evolving from a "newly launched return plan" to a "normalized system verified through multiple practical operations." Real earnings and stable investments mutually support each other, forming the underlying foundation for the mechanism's sustainability ------ for crypto projects, the credit accumulated through continuous fulfillment is far more difficult to establish and replicate than any one-time benefit.

In terms of transparent trust, a publicly verifiable execution chain has established a foundation of trust. Each repurchase of JST follows the three-step standard of "rules publicly disclosed in advance, execution completed on schedule, results verifiable on-chain," with all tokens ultimately transferred to a publicly verifiable black hole address, and transaction records permanently on-chain and immutable. In contrast to some projects in the industry that announce repurchases verbally without execution or pause repurchases quietly when the market is poor, JST's fully transparent execution chain provides a reference model for token value management in the DeFi industry.

In terms of deflationary results, the continuous deflation of the token supply structure has enhanced the scarcity of JST tokens. After five cumulative rounds of repurchase and destruction over the year, the total supply of JST has decreased from 9.9 billion tokens to approximately 8.02 billion tokens, with nearly 1.881 billion tokens permanently removed from the circulation system, accounting for nearly 19% of the total supply. For holders, this means that even without increasing their holdings of any tokens, their equity proportion is passively increasing ------ the logic is entirely consistent with listed companies repurchasing and canceling stocks with net profits.

Ultimately, the synchronization of JST's price and market value has strengthened, validating the effectiveness of the buyback and burn mechanism through real market feedback. According to data from CoinGecko, since the official buyback and burn mechanism was launched in October 2025, JST has shown an independent counter-trend performance during the overall market downturn, with the token price steadily rising from a low of about $0.03 at the start to a high of $0.142 before this buyback and burn (October 10), achieving an annual increase of over 300%, setting a new historical high since 2022; the circulating market value has also gradually increased from an initial $300 million and has surpassed $1 billion this month.

In summary, it is this mechanism driven by real ecological revenue, executed steadily on a quarterly basis to build a foundation, establishing credibility through the on-chain transparent burn mechanism, and enhancing quality through the deflationary effect brought by supply contraction, that has ultimately validated its effectiveness through market conditions, allowing the JST buyback and burn mechanism to break free from the old paradigm of single favorable stimuli and truly grow into a core pillar supporting JST's long-term value.

JST Buyback and Burn Set for Comprehensive Upgrade, Funding Sources Becoming More Diverse

With the completion of five consecutive buybacks and burns, the JST buyback mechanism has also reached an important milestone: the initial phase of extracting stock revenue for buybacks has successfully concluded, and it is about to enter a new upgrade phase.

Looking back at the initial phase, the funding sources for the JST buyback and burn were originally planned to be supported by the JustLend DAO and USDD business lines. According to established rules, USDD's incremental revenue would only be added to the buyback fund pool after multi-chain ecological revenue reached $10 million; as of now, this condition has not yet been met. Therefore, in the initial stage, it mainly relied on the stock revenue accumulated by JustLend DAO and the newly added net revenue each quarter. Among these, over $59 million of stock revenue extracted at the start was gradually released according to the "30% initial burn, 70% phased burn" plan. After five consecutive executions, this portion of stock revenue has been completely burned, successfully achieving the initial target, and the mechanism has thus completed a smooth transition from launch to normalized operation.

As early as the release of the "JST Q1 2026 Financial Report" in April this year, the JUST ecosystem had already planned the next upgrade direction: after the phased stock revenue burn plan is fully executed, the JST deflationary mechanism will officially upgrade to a new phase. At that time, JUST will systematically upgrade based on the existing mechanism, broaden the sources of buyback funds, and add revenues from businesses like GasFree to provide more sufficient and diverse funding support for JST buybacks.

More importantly, this upgrade path is not just on the planning level, but actual actions have already been implemented. In the fourth buyback and burn, the historical stability fee of USDJ was included for the first time as a source of buyback funds. Additionally, the "JST Q2 Financial Report" released in July mentioned that in the future, JUST will continue to use ecological revenue for JST buybacks and burns in conjunction with the operational performance of GasFree and other ecological businesses.

This information collectively points to a clear trend: the new JST buyback and burn mechanism will further expand funding sources, with more business lines like GasFree expected to gradually join, making the overall funding structure more diverse.

Now, with the successful completion of the fifth JST buyback and burn, the official announcement has clearly stated that the JST buyback and burn mechanism is about to undergo a comprehensive upgrade adjustment. For details on the upgrade mechanism, such as funding sources, execution rhythm, and ecological collaboration, please follow the official JUST X account @JUST DAO for the latest information.

The completion of the initial phase of the JST buyback and burn is not the end, but a new starting point for the next phase. Over the past year, the JST buyback and burn mechanism has evolved from a paper plan to five implementations, forging a path that is continuously being fulfilled and validated: from the orderly release of stock revenue relying on JustLend DAO to the eventual cumulative burn of approximately 1.881 billion JST, with a cumulative deflation rate exceeding 19%—each step paving the way for the long-term stable operation of the mechanism. As the mechanism is about to enter a new upgrade phase, the long-term deflationary effect and value feedback capability of JST are also expected to usher in a more sustainable and predictable new cycle.