JustLend DAO, the Tron-based lending protocol, has executed its third major buyback and burn of its native JST token, permanently removing 271,337,579 tokens worth approximately $21.3 million from circulation. The tokens were sent to a "black hole" address on April 16, 2026, funded by the protocol's net income for the first quarter of 2026 plus accumulated past profits.
This latest event brings the cumulative total of JST destroyed to 1,356,228,332 tokens, representing 13.70% of the token's overall supply. The deflationary program, which began in October 2025, has seen rapid progress. The first round in October 2025 burned 559 million JST (5.66% of supply) using $17.72 million in capital. A second round in January 2026 removed another 525 million JST (5.3% of supply) with a $21 million commitment. The latest third round, completed on April 15, 2026, burned approximately 271 million JST (2.74% of supply) for $21.3 million.
The program is explicitly tied to protocol profitability, with burn capital sourced from the organic revenue of JustLend DAO. For the third burn, funding consisted of approximately $10.34 million from accumulated revenue and $10.97 million in net new revenue generated during Q1 2026. The entire process was executed on-chain by Grants DAO, ensuring public traceability of all transactions.
JustLend DAO reiterated its commitment to continue the revenue-driven deflation plan, stating it will keep executing quarterly buybacks and burns while providing transparent updates to the community. The protocol, a cornerstone of Tron's financial infrastructure with a Total Value Locked (TVL) of approximately $6.75 billion, funds the burns through its diversified product matrix, including SBM lending and sTRX liquid staking.
Market reaction to the deflationary program has been mixed but generally positive. Since the program's commencement in October 2025, JST's price has surged from a low of around $0.03 to $0.08, representing an over 100% increase. Its market capitalization has grown from $300 million to approximately $700 million over the same period. Analysts note that the burn rate—destroying 11% of supply in 90 days—has outpaced the deflation rate of tokens like BNB.
