Everyone assumes governance tokens offer zero real value beyond votes.
$JST proves that view is outdated. Q4 2025 JustLend DAO report shows strong execution not empty promises.Key highlights include protocol revenue of thirty eight point seven million dollars used to buyback and burn over one point zero eight billion $JST tokens. This removes ten point nine six percent of total supply and locks in a clear deflationary path confirmed on chain.Buyback launched right after community approval on October twenty first twenty twenty five with burns starting the next day.
First phase removed five point six six percent then January twenty twenty six added another five hundred twenty five million burned. Total impact hits hard.Price action followed fundamentals with $JST climbing roughly forty percent from zero point zero three two to zero point zero four five dollars post approval. Strong volume hit two point five billion dollars quarterly across Binance OKX Bybit Upbit Kraken plus DEXs showing genuine demand especially fiat pairs in South Korea.JustLend powers this engine as TRONs main lending hub boasting six point eight one billion TVL and four hundred eighty thousand users. Revenue streams from SBM market sTRX staking plus energy rental directly fund burns treasury growth and ecosystem expansion all transparent on chain.Reserves remain solid with one hundred thirty three million plus sTRX and over two billion jUSDT held. After burns roughly thirty one million dollars stays queued for phased execution.
Looking forward twenty one million more projected for buyback burns fueled by ten point nine million from sTRX yields ten million from reserves and Q4 carryover.This shifts the model revenue first governance aligned value returned directly on chain. If you follow cash flow backed DeFi on TRON JST stands out.