PANews reported on October 22nd that the decentralized lending protocol JustLend DAO officially approved the "JST Buyback and Burn Proposal." According to the proposal, all of JustLend DAO's net income, as well as a portion of the USDD multi-chain ecosystem's earnings exceeding $10 million, will be used to buy back and burn JST.
The first burn has been completed, using 30% of JustLend DAO's current revenue of 59,087,137 USDT (approximately 17,726,141 USDT) to repurchase and destroy 559,890,753 JST, accounting for approximately 5.66% of the total JST supply.
In addition, the JustLend Grants DAO will conduct a quarterly buyback and burn using the net revenue generated in the previous quarter. The remaining 70% of existing revenue will be burned in four installments before the fourth quarter of 2026, with a quarterly burn of 17.5%.
