Dear JUST DAO community,
We are excited to announce the release of the JST 2026 Q3 Quarterly Report, which provides a comprehensive overview of our recent performance and the key milestones achieved in Q3 2026. You can access the full report here: JUST DAO
Committed to community transparency, we will continue releasing quarterly reports to keep you fully updated on our operational progress.
Key Highlights
Ongoing Buyback & Burn Progress: 170,723,144 JST were permanently removed from circulation in Q3, with an estimated value of $23,531,749. Since October 2025, five JST buyback-and-burn rounds have permanently removed 1,881,973,007 tokens (19.01% of initial max supply) from circulation, valued at $118,152,576.
Buyback & Burn Upgrade: With the conclusion of the fifth burn round, JustLend's historical revenue reserves have been fully deployed into the program. To sustain continued program executions, subsequent buybacks will be funded directly by recurring revenue generated across the JUST ecosystem's product lines. Capital sources will comprise operating revenue from JustLend and GasFree, along with net USDD revenue once predetermined operational milestones are met. Meanwhile, a surplus reserve deployment framework will be introduced: the treasury will maintain a baseline safety reserve of at least $50M, while scheduling approximately $20.34M in excess funds to be channeled progressively into future buybacks starting in Q4 2026. Total treasury reserves have been on a steady rise, reaching an estimated valuation of ~$139.95M—an increase of roughly $20.12M compared to Q2.
Brand Architecture Restructuring: In October 2026, JUST completed a comprehensive overhaul of its brand architecture, formalizing a three-pillar product suite centered on JustLend, GasFree, and USDD, alongside the launch of an updated official website. In tandem, the former JustLend Grants DAO was elevated to JUST DAO, centralizing ecosystem-wide governance across the core product pillars and other ecosystem initiatives.
Product Upgrade & Business Growth
JustLend's total value locked (TVL) held firmly above $7B through quarter-end, with SBM supply volume expanding 10.27% QoQ, borrow volume rising 8.52%, and sTRX staked volume climbing 1.5%.
GasFree sustained its rapid expansion, logging approximately 21.24M total transactions over the quarter, with monthly volume topping out at 9.97M in August.
USDD generated $9.7M in quarterly revenue, up 26.74% QoQ, lifting cumulative treasury reserves to $31.24M.
Energy Rental maintained solid upward momentum across both Energy reserves and user base, with total Energy reaching 48,537,287,250 as rental users climbed 3.5% QoQ to 83,850.
Ongoing Ecosystem Initiatives: In Q3 2026, Binance Wallet partnered with JustLend and fellow TRON ecosystem projects to roll out the Binance Wallet DeFi TRON Carnival. Spanning three consecutive seasons, the campaign delivered on-chain yield incentives across TRX, USDD, JST, and SUN, distributing $4.5M in cumulative rewards across the first two seasons. In October, an additional $2M reward pool was introduced to provide sustained ecosystem incentives for the community.
About JST
JST is a TRC-20 token on the TRON network, serving as the exclusive governance and utility token for the JUST ecosystem. It empowers holders to participate in decision-making and revenue sharing across core protocols like JustLend. JST holders can participate in key decisions on yield rates, collateral assets, and the use of funds by submitting and voting on proposals, ensuring the protocol's development stays aligned with the long-term interests of token holders.
JUST DAO Team
October 26, 2026 (SGT)