Overview
JUST is a set of DeFi services on TRON, launched in 2020 and associated with TRON founder Justin Sun. Its token is JST.
Its main product, JustLend DAO, is TRON’s largest lending platform, holding about $6.9 billion according to DeFiLlama, much of it staked TRX and stablecoins.
How it works
- JustLend: users deposit TRX, USDT and other assets to earn interest, or borrow against them.
- Staking and energy rental: TRON transactions need “energy”. JustLend lets users stake TRX (receiving sTRX) and rent energy cheaply, which is useful for sending USDT.
- JST is used for governance and benefits from protocol income.
Buybacks and burns
Since October 2025, JustLend DAO has run quarterly buybacks and burns of JST, funded by lending fees, staking income and energy rental:
- October 2025: about 560 million JST burned;
- January 2026: about 525 million JST burned (about $21 million);
- cumulative burns reached about 11% of the total supply, with more buybacks planned.
The JST token
| JST at a glance | |
|---|---|
| Supply (Oct 2026) | about 8 billion JST |
| Price (29 Oct 2026) | about $0.14 |
| All-time high | about $0.19 (April 2021) |
| Market cap | about $1.1 billion (#72) |
Risks
- TRON dependence. JST’s value depends on TRON staying the main highway for USDT.
- Founder risk. Justin Sun and related entities have large influence over JUST and TRON.
- Concentration. A few large accounts hold much of JustLend’s deposits.
- Regulation. TRON’s use for illicit transfers keeps regulatory risk high.
JUST vs. the competition
| JUST (JST) | Aave | Sky | |
|---|---|---|---|
| Main chain | TRON | Ethereum + many | Ethereum |
| Deposits (Oct 2026) | ~$6.9 billion | ~$18 billion | Large (USDS/DAI) |
| Token value | Quarterly buybacks + burns | Buybacks (paused 2026) | Buybacks (reduced 2026) |
Our verdict
JST benefits from real income and regular burns, and its price has held up far better than most DeFi tokens. But it is a bet on TRON and Justin Sun’s ecosystem as a whole. JST is a high-risk investment: invest only what you can afford to lose.
This review is for information only and is not financial advice.