JUST (JST) is a decentralized finance (DeFi) ecosystem built on the TRON blockchain, and JST is its governance token. It launched in 2020 and is widely known for its close ties to TRON founder Justin Sun.
It started with the stablecoin platform JustStable and later grew to include the lending protocol JustLend. Today JustLend DAO, which runs the lending service, sits at the center of the ecosystem.
JST holders can vote on proposals that change protocol settings, such as interest rate models, collateral ratios and newly supported assets. Handing these decisions to the token-holder community is the main job of JST.
JustLend is an algorithmic money market where users supply and borrow TRON-based assets like TRX and USDT. Smart contracts set interest rates automatically from supply and demand, and positions can be liquidated if collateral value falls below a set threshold.
Data provided by CoinGecko
JST started with a total supply of 9.9 billion tokens. Since 2025, JustLend DAO has run a quarterly program that uses protocol revenue and reserves to buy back JST and burn it.
According to public reports, the second burn in January 2026 destroyed about 525 million JST, and after the third burn in April 2026 the cumulative total reached about 1.36 billion tokens, roughly 13.7% of total supply. Burn sizes depend on protocol revenue.
TRON's low fees and large USDT circulation support steady lending demand, which is often cited as a strength. Publicly reporting revenue-funded burns is also seen as a plus for transparency.
On the other hand, the ecosystem depends heavily on TRON and a single prominent figure, which raises recurring centralization concerns. Users should also weigh common DeFi risks such as smart contract bugs, liquidations and changing regulations.
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