Protocol revenue drives deflation, not a printing press changing the script kind.

ME News announced on April 17th that official data shows the JST buyback and burn plan has cumulatively destroyed 135 million tokens, accounting for 13.70% of the total supply, with a burn value of approximately $60.03 million. This large-scale deflationary process lasted three quarters, driven by actual protocol revenue and publicly executed on-chain. After a single burn of 271 million tokens in the third phase, an automated closed loop was formed where revenue supports buybacks, and buybacks trigger burns, bringing a deterministic endogenous deflationary force to the JST economic model.