Question 1

What is JST, and what role does it play in JustLend DAO?

Accepted Answer

JST is the core governance token of JUST and JustLend DAO. It is issued on the TRON network under the TRC-20 token standard. Its primary protocol role is to enable participants who meet governance-process requirements to exercise governance rights over key JustLend DAO matters. JST is not the same as a deposit receipt or borrowing position in JustLend DAO: interest and liquidation risk from supplied or borrowed assets are determined by the rules of the relevant markets, whereas JST is used for governance and its token-economic arrangements.

Question 2

What are JST's network, contract address, and supply?

Accepted Answer

JST has an initial maximum supply of 9,900,000,000 tokens on TRON, and the officially listed token contract address is TCFLL5dx5ZJdKnWuesXxi1VPwjLVmWZZy9. Before transferring or receiving it, confirm that the wallet supports TRON and TRC-20, and verify the contract address. The initial maximum supply is not the real-time circulating supply. The official buyback-and-burn mechanism sends repurchased JST to a burn address and permanently removes it from circulation, so the actual circulating supply decreases with cumulative burns.

Question 3

How can JST be used to participate in governance?

Accepted Answer

Holding JST does not automatically create voting power; the official governance model requires JST to be locked first to obtain voting power before participating in the submission, discussion, and voting of JustLend Improvement Proposals (JIPs). This locking step distinguishes merely holding tokens from actual governance participation. Only after a proposal is processed through the governance procedure may it change the protocol or token-economic arrangements. Participants should follow the eligibility, locking, and voting rules of the current JIP, because specific governance arrangements can be updated through subsequent governance.

Question 4

Which protocol matters can JST governance affect?

Accepted Answer

JST governance covers matters that directly affect JustLend DAO operations: which assets are supported and listed, collateral factors and reserve factors, interest-rate models, oracle configurations, risk parameters, and the use of protocol reserves, as well as incentive and buyback-and-burn rules. These are not abstract voting topics. For example, a collateral factor affects borrowing capacity and the liquidation buffer, an interest-rate model affects lending and borrowing rates at different utilization levels, and oracles and risk parameters affect collateral valuation and risk controls; any changes must go through the relevant governance process rather than being executed individually and immediately by JST holders.

Question 5

How do JST buybacks and burns work?

Accepted Answer

JST buybacks and burns do not distribute protocol revenue directly to JST holders. Eligible JustLend DAO protocol revenue and JUST ecosystem revenue first form buyback funding, after which JST is repurchased on the open market and the repurchased tokens are sent to a burn address, permanently leaving circulation. According to the official description, 30% of initial cumulative platform revenue was allocated to the first buyback and burn, while the remaining 70% is released and executed quarterly during 2026; funds not used immediately are temporarily deposited in the USDT market of JustLend DAO SBM to generate yield and are included in future buybacks. New net revenue each quarter is generally used for buybacks at the beginning of the following quarter, together with the cumulative reserves released for that period to form the quarterly funding pool.

Question 6

Which revenue enters the JST buyback funding pool?

Accepted Answer

In addition to JustLend DAO net revenue, the official materials list multichain revenue from the USDD ecosystem as a possible source supporting the program: after covering TRON DAO mining subsidies, USDD ecosystem revenue exceeding $10 million may enter JST buybacks. Other eligible JustLend DAO or JUST ecosystem revenue may also be included. Funding sources, inclusion conditions, and reserve allocations are not fixed; the official rules provide that related updates must be approved through governance proposals and carried out according to official disclosures and on-chain records. Therefore, revenue growth itself does not automatically translate into immediate buybacks in an equal amount.

Question 7

How can I verify whether JST buybacks and burns have actually been executed?

Accepted Answer

Buybacks and burns are executed by JustLend Grants DAO, which the official materials describe as a community-driven incentive mechanism within the JustLend DAO ecosystem. Buyback and burn records are disclosed through official channels and on-chain logs, and users can track progress on the official Transparency page. The tokenomics page lists burn amounts for the first three rounds as 559,890,753 JST, 525,000,000 JST, and 271,337,579 JST, respectively. These figures are burn records for disclosed rounds and should not be treated as fixed quantities or predictions of the burn rate for future rounds.

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