JST · nothing is minted, and every quarter the DAO buys some back and destroys it.

No new JST is created. The contract's own mint log holds exactly one entry in six years — the original 9,900M JST issued on Apr 3 2020 — and the count of JST in existence has only ever fallen since. Reward mining on the lending market and the swap venue pays JST out of wallets that already hold it and are already counted as tradable, so nothing reaches the market that was not there before. The mint function does still exist and one owner address can still call it, so this row is watched rather than closed.

Nothing is left to unlock. The original release calendar ran 36 steps from Apr 30 2020 to Mar 30 2023 and finished three years before this window opens. Two separate reads confirm nothing is held back: the classified non-tradable bucket is exactly zero, and on chain the number of JST in existence minus the burn address lands within 830 JST of the same figure. There is no escrow contract and no reserve sitting outside the count.

No release was observed and there is no unscheduled pool to release from. Watched as overhang: the DAO wallet TZJVQuU3CJqBScwoxhRtkxQ7JjsNNrpEag, which executes every burn round and held 500.0M JST at the end of the window against 300.0M at the start — the rise is a 200.0M parcel that left on Jul 6 2026 and came back on Jul 13 2026, the same round trip it made again on Aug 16 and Aug 24. That parcel is one JST above the 200.0M needed to open a governance proposal, so it reads as voting collateral, not selling. Not one outgoing transfer from this wallet went anywhere but the burn address. The two wallets that funded earlier rounds, TFTWNgDBkQ5wQoP8RXpRznnHvAVV8x5jLu and TQVSccQp4y9ZEVRwDsKN1onbR7n9a2xFkH, both read 0 JST — they pass money through and zero out. No public evidence of release in window — monitored.

There is no bankruptcy estate, no trustee and no court-ordered distribution attached to JST. Nothing sits in this row and nothing is expected to.

This is the engine of the page. The lending DAO takes its own net revenue, buys JST on the open market and sends it to the burn address, and it has done so once a quarter since a vote passed on Oct 21 2025. The fourth round landed on Jul 17 2026: 248.4M JST, worth about 24.2M dollars, in a single transfer from the DAO's execution wallet. The burn address balance was read from chain state at both ends of the window and every transfer into it since 2020 was swept — the two agree to the ninth decimal, so this figure is measured, not estimated. Three earlier rounds moved 559.9M, 525.0M and 271.3M. Nothing has ever left that address.

A second, different removal fired on the same day. Stability fees on the DAO's dollar-pegged stablecoin are paid in JST, and on Jul 17 2026 the years of fees that had piled up were destroyed outright — 106.7M JST, worth about 10.4M dollars, cutting the number of JST in existence from 9,900.0M to 9,793.3M. That is a separate pool from the buyback above and it moves a separate surface, which is why both are counted: the count of JST in existence had never moved once in six years before this, while the burn address had already taken three rounds. Together the two put the running destruction at 1,711.2M JST, or 17.29% of every JST ever made, and the DAO's published total matches the chain to the single unit. This sweep cleared a backlog, so it is not projected to repeat.

There is no separate treasury purchase. Every JST bought in this window was bought under the quarterly programme above and is already counted there; booking it twice would double the buy side.

Nothing new was locked away. JST staking and liquidity provision move tokens between wallets that are all already counted as tradable, so locking JST there would not remove it from this reading in any case.