JST · nothing is minted, and every quarter the DAO burns a slice of the supply.
JST is the governance token of the JUST DeFi ecosystem — JustLend DAO and the USDD stablecoin — on TRON. ~8.19B circulating out of a fixed 9.9B ever issued; the 17.3% difference has already been burned.
Sell pressure. Zero. No emission, no staking issuance, and the last vesting finished in 2022 — there is nothing left to unlock.
Buy pressure. The DAO buys JST with protocol revenue and burns it — the latest round destroyed 355M JST on Jul 17 2026.
Net. About 4.3% taken off the market over the last 90 days, with roughly 2.6% more projected next quarter.
- Quarterly buyback-and-burn (round 5)~212M JST~Oct 2026 · removed from market
JST has no emission and no staking issuance — the on-chain supply has only ever fallen since the token was issued in 2020, so nothing is inflated into existence. A dormant mint key still sits on the token contract and has never once been used; we watch it rather than call it impossible.
Every original allocation finished releasing — the launch sale, ecosystem and team tranches all completed by 2022. The chain confirms it: total supply and circulating supply now match, so there is no locked bucket left anywhere to unlock into the float.
The DAO wallet that funds the buyback holds about 500M JST, and its only recorded outflows go to the burn address — never to the market. Part of that balance rotates in and out of governance contracts as proposal deposits (about 200M returned on Jul 13 2026), which makes the balance swing without any supply reaching traders. The dormant mint key is the other tracked overhang. No dated market release, so this row stays 0 — monitored.
No bankruptcy estate or court-ordered distribution applies to JST.
JustLend DAO spends protocol revenue buying JST on the open market and sends it to a burn address, destroying it for good. Rounds fire about every three months — the latest, on Jul 17 2026, burned 355.0M JST and took the running total to 1,711M, or 17.3% of everything ever issued. That burn lands inside this window, which is why the last 90 days read sharply deflationary. The next round is due around Oct 2026 and is budgeted at about $21.55M of revenue, roughly 212M JST at today's price — the forward figure booked here.
There is no automatic per-transaction burn on JST — protocol revenue is routed through the quarterly buyback instead of being destroyed at the fee layer.
The DAO's open-market buying is the programmatic buyback already booked in Buy #1 — there is no separate discretionary purchase to count.
Bought-back JST is burned outright rather than locked away, and no new escrow or multi-year lock was announced in the window — monitored.
My research. My portfolio. Free.
Deep research weekly. My real holdings monthly.