Compared with the DeFi ecosystem, JST is still undervalued.
A few days ago, JST completed its quarterly burn. I noticed one figure: quarterly protocol revenue was $9.28 million.
Compared with leading DeFi protocols, it’s still undervalued. And all revenue from the JustLend DAO protocol is used for buybacks and burns.
It may look like it’s been rising for a year, but when you look back at this chart in the future, you’ll see that JST is only just getting started. Little TRX certainly lives up to its name.
JST leads DeFi in buyback-and-burn efforts and price performance
Just yesterday, JST completed its fifth burn since the proposal to use 100% of protocol revenue for buybacks and burns was implemented. A total of 170,723,144 JST was burned, worth $23.53 million. Over the past year, 118.4M JST has been burned, accounting for 19.01% of the total supply.
The funds for this burn came from two sources: approximately $9.28 million in net revenue generated by JustLend DAO in Q3 2026, and approximately $10.34 million in accumulated earnings from previous periods.
A comparison across DeFi shows that although JST ranked second in buyback-and-burn amount over the past year, UniSwap's burn included 583M from its treasury. The revenue used for buybacks and burns was approximately $57M—less than half of JST's 118.4M. Therefore, JST should rank first in DeFi for buyback-and-burn efforts over the past year.
At the same time, in DeFi, ST ranked first in price performance over the past year, gaining 334%. Among the Top 100 tokens, it ranked second. In other words, investing in JST over the past year would have outperformed 99% of mainstream tokens.
What makes JST impressive is that its ecosystem's growth relies on TRON's stablecoin settlement and energy markets, rather than simply depending on lending and borrowing during a bull market. The entire ecosystem is also interconnected, with every part supporting JST—and in just one year, more than $100 million in real funds has been used for buybacks and burns.
Without a doubt, JST has overtaken its competitors in DeFi. It is in a league of its own across the entire sector in both buyback-and-burn efforts and price performance.
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HEX / PulseChain founder Richard Heart (Richard James Schueler) was reportedly arrested today in Istanbul, Turkey, in an operation related to an Interpol Red Notice. Finnish authorities suspect him of aggravated tax evasion and other offenses; Turkish media reported that large amounts of cash, gold jewelry, firearms, and electronic devices were seized during the operation.
Headline year over year: 3.7%, forecast 3.6% Core year over year: 2.6%, forecast 2.5%
The figures were somewhat unfavorable, but not too unfavorable. Inflation still hasn’t been fully brought under control, so expectations for rate cuts have weakened. That’s easy to understand, right?
South Korea has banned 27 unregistered exchanges, including well-known second-tier exchanges such as KuCoin and MEXC.
Another 44 are also under investigation. Domestic servers have been shut down, while access to overseas sites has been blocked.
It will become increasingly difficult for Korean users to deposit to and withdraw from second-tier exchanges. How should I put it? This move is still good news for leading, compliant major exchanges as they take in users.