The fourth round of JST buyback and burn wrapped up this week, taking out 355 million tokens worth $34.59 million — the biggest single-round burn in dollar terms since the program kicked off last October. The burn removed 3.59% of JST's total circulating supply in one go, pushing the total burned across four rounds to 1.71 billion JST, or 17.29% of the total supply.
A record round
This round's $34.59 million value marked a 70% jump over the third round, which had already set the previous high. The burn was split into two parts: the regular Q2 2026 quarterly buyback accounted for $20.6 million (248.4 million JST), and a separate historical USDJ stability fee burn contributed another $10.39 million (106.7 million JST). Both came from protocol revenue — no external funding.
Where the money came from
JustLend DAO funded the quarterly buyback using $10.28 million in net income growth and $10.34 million drawn from historical reserves. The entire $20.6 million buyback amount came from the DAO's organic protocol revenue, which the project says ensures transparency and sustainability. The stability fee burn was a one-off, covering past USDJ fees that had been accumulating.
JST price action
JST broke above $0.10 on July 10, hitting an intraday high of $0.1045 — its strongest level since December 2021. The token is up 178% over the past year, with a market cap of about $874 million, putting it among the top 70 cryptocurrencies. The burn news has likely added to buying pressure, but the broader rally in the token started before the round closed.
Cumulative burn
Since the program started in October 2025, JST has burned 1.71 billion tokens across four rounds. That's removed more than one-sixth of the total supply in under a year. The next quarterly buyback is scheduled for Q3 2026, though the exact timing and size will depend on protocol revenue in the coming months.
