JustLend DAO's leap in growth in 2025: TVL and profits steadily rising, JST deflation and acceleration of globalization process.

Against the backdrop of overall fluctuation in the DeFi market, the core DeFi protocol JustLend DAO of the TRON ecosystem has achieved leapfrog development in the first three quarters of 2025. It has not only made comprehensive breakthroughs in total locked value (TVL) growth, product function expansion and innovation, and global influence, but also continuously released value through the recently implemented large-scale JST repurchase burn mechanism, showcasing strong ecological vitality and development potential.

According to the third quarter income report released by Messari, the total lock-up value (TVL) of JustLend DAO increased by 46.1% quarter-on-quarter, rising from 3.4 billion USD to 5 billion USD, maintaining a long-term position in the top four of the lending industry and firmly sitting in the leading camp of global DeFi.

What has attracted more market attention is that the large-scale JST repurchase and burn mechanism of approximately $59 million recently launched by JustLend DAO has been implemented, with the first round destroying about 560 million tokens, accounting for 5.66% of the total supply, and there are still more than $41 million in funds to be invested for subsequent burns.

In the current state of overall weakness and fluctuation in the crypto market, the significant buyback actions implemented by JST fully demonstrate the strength and ecological confidence of the JustLend DAO platform, and also directly drive market feedback. According to CoinGeck data on November 11, JST has risen over 20% in the last 30 days, with the price climbing from $0.030 to $0.037, and the consensus on its deflationary value is continuously strengthening.

JustLend DAO's product capabilities continue to upgrade: using lending as the cornerstone, expanding into diverse services such as staking and energy leasing.

As a core DeFi platform in the TRON ecosystem, JustLend DAO was launched by JUST, which focuses on DeFi system solutions for the TRON ecosystem. Since its launch in 2020, it has been deeply involved in the DeFi lending sector for five years. With continuously upgraded product capabilities, it keeps expanding its service boundaries. Starting from a single lending service, it has now magnificently transformed into a “DeFi all-in-one platform” that integrates various functions such as lending, staking, energy services, and smart wallets, becoming an indispensable financial infrastructure in the TRON ecosystem.

In terms of product functionality, JustLend DAO has completed in-depth integration of multiple core DeFi modules, covering the lending market (SBM), liquid staking sTRX (Staked TRX), energy rental (Energy Rental), and smart wallets (GasFree), making it a one-stop DeFi service entry for the TRON ecosystem, providing users with a comprehensive financial service experience.

Lending Market (SBM): As the core foundational business of JustLend DAO, the SBM lending market is known as an efficient and balanced asset allocation center. On one hand, users can deposit idle crypto assets to earn stable interest, achieving steady asset appreciation; on the other hand, they can also borrow other cryptocurrencies by collateralizing existing assets, engaging in leveraged operations or diversified investments, and unlocking more use cases for their assets.

In terms of asset coverage, the SBM lending market offers an extremely rich selection. It not only includes globally mainstream currencies such as ETH, BTC, and USDT, but also comprehensively encompasses native assets of the TRON ecosystem such as TRX, USDD, JST, NFT, SUN, sTRX, and BTT, covering dozens of cryptocurrencies in total, creating a diverse and comprehensive investment choice pool for users. In addition, SBM is continuously introducing emerging assets: in August of this year, the SBM market added compliance stablecoin USD1 for supply and lending services.

Liquid staking (sTRX) is the preferred TRX liquid staking entry point in the TRON ecosystem, supporting users to stake TRX to obtain liquid staking certificates sTRX. Holding sTRX not only allows users to earn basic staking rewards from the TRON network, but also flexibly participate in various on-chain DeFi activities to accumulate additional profits, enabling TRX to continuously create extra value during the staking period.

In the yield scenario of sTRX, JustLend DAO operates in synergy with the DeFi applications of the TRON ecosystem, further expanding the yield boundaries. For example, in April of this year, the stablecoin USDD launched the sTRX Vault minting function, allowing users to directly mint USDD by using sTRX as collateral, easily activating their assets.

Energy Rental is a unique innovative service within the TRON ecosystem, relying on the “Bandwidth + Energy” dual resource Gas fee mechanism, which can help users directly save about 70% of transaction Gas costs and optimize the operational cost experience on the TRON blockchain.

Compared to traditional methods that require long-term staking of TRX or directly burning TRX to obtain energy, JustLend DAO allows users to rent energy on demand and per use, eliminating the need for long-term staking. This significantly lowers the on-chain operational threshold and cost for small and medium users, allowing ordinary users to easily enjoy low-cost on-chain interactions.

To continuously optimize user experience, JustLend DAO has iterated on energy leasing parameters multiple times this year, releasing benefits: on September 19, the energy leasing prepayment (deposit) was reduced from 40 TRX to 20 TRX, further lowering the entry threshold; on August 29, the energy base unit price on the TRON network was lowered from 0.00021 TRX to 0.0001 TRX (a 60% reduction in smart contract operating costs), and JustLend DAO immediately responded on September 1 by lowering the basic leasing tax rate from 15% to 8%, allowing users to enjoy the dual benefits of “base unit price reduction + leasing tax rate reduction”; on July 13, the annualized yield (APY) for leasing was adjusted, comprehensively lowering the total cost of energy leasing.

As of November 13, the daily price for energy leasing at JustLend DAO is 48 SUN, and it only takes 4.8 TRX to lease 100,000 units of energy (equivalent to the energy obtained from staking 10,450 TRX), which is sufficient to cover two contract transactions. The cumulative number of participating users has exceeded 70,000, making it one of the core services with high-frequency demand in the ecosystem.

Overall, JustLend DAO has a core product matrix centered around lending, liquidity staking, and energy leasing. The three major modules work in deep synergy and efficient interaction to build a closed-loop ecosystem, providing users with full-chain services ranging from asset lending, storage, staking to low-threshold on-chain operations, truly realizing one-stop on-chain asset management.

Beyond its core products, JustLend DAO focuses on user experience and innovatively launched the GasFree smart wallet, which allows users to deduct fees directly from the transferred tokens, completely breaking the industry limitation of “having to hold the native token to trade.” After its launch in March this year, JustLend DAO also introduced a 90% transfer fee subsidy campaign, allowing users to pay only about 1 USDT in fees for each GasFree transfer of USDT (regardless of the amount).

In terms of ecological construction and Token incentives, JustLend DAO is empowered by the community-led incentive organization Grants DAO. It is centered on diversified support, providing resource support and special incentives for projects and builders that promote the development of JustLend DAO and the JUST ecosystem, while also strengthening the ecological safety through fine control of market risks. As of now, Grants DAO has allocated approximately $189 million through various dimensions such as user incentives, ecological buyback and burn, market stability maintenance, and developer support.

From core product synergy to experience optimization tools, and then to the ecological incentive system, JustLend DAO has formed a complete ecosystem that supports and develops in synergy through a comprehensive layout in three dimensions: product innovation, user experience, and ecological construction.

TVL remains in the top four for global lending, with a cumulative net income of nearly 62 million; JustLend DAO builds a solid foundation for rise with a diversified income model.

While continuously expanding the boundaries of product functionality, the core operating data of JustLend DAO also shows steady growth — the Total Value Locked (TVL) has consistently ranked in the top four of the entire Lending industry, and the platform's cumulative net profit is approaching 62 million USD.

Messari and CoinDesk recently released the TRON third quarter report, both emphasizing that JustLend DAO achieved a significant rise in TVL in Q3, with a substantial increase of 46.1%, rapidly rising from 3.4 billion to 5 billion USD, maintaining its position among the top four in the global lending sector.

Regardless of capital liquidity or borrowing demand, JustLend DAO's core indicators have been steadily rising. As of November 12, the platform's total TVL has reached approximately 6.9 billion USD, with the number of ecological users approaching 480,000. Among them, the SBM lending market has performed remarkably, with an asset management scale of up to 4.4 billion USD (including 4.28 billion USD in supplied assets and 140 million USD in borrowed assets), intuitively reflecting the thickness and activity level of the lending ecosystem.

In terms of platform revenue, financial transparency has been upgraded. JustLend DAO officially launched the “Financial Transparency Operational Indicator (Transparency)” on its official website on November 1, fully disclosing core financial dimensions - including cumulative net income (mainly covering SBM lending market and Staked TRX earnings), net income withdrawn, remaining net income, and the JST buyback and Burn Mechanism process, etc.

According to the disclosed financial data, the JustLend DAO platform has accumulated a net profit of nearly 62 million USD, of which the total extracted profit is 59.5 million USD, leaving a remaining profit of about 2.44 million USD, indicating a stable and controllable overall financial situation.

In the revenue landscape of the JustLend DAO platform, sTRX is undoubtedly the core revenue pillar. Out of the extracted $59.5 million in revenue, the net revenue extracted from sTRX amounts to $59.08 million, while the net revenue extracted from the SBM lending market is approximately $1.79 million.

With the steady increase in sTRX staking volume, the income generated is also expected to see significant growth. Official data shows that the amount of TRX staked behind sTRX has exceeded 9 billion coins, with the number of addresses participating in staking nearing 13,000. The current annualized yield is 7.26%, whereas in June of this year, there were only about 4,200 addresses participating in staking, highlighting the rapid growth trend.

The SBM lending market has also performed remarkably, with its captured fees continuing to grow steadily. According to DeFiLlama data, as of November 12, the platform has accumulated approximately $5.68 million in captured fees by 2025 (this data only accounts for the interest portion paid by borrowers), which represents an increase of over $1.5 million compared to the full year of 2024, which was $4.06 million. This growth intuitively confirms the ongoing expansion of the JustLend DAO lending market.

In addition to the two major core business highlights mentioned above, JustLend DAO also offers a high-frequency essential energy leasing service. In the future, this business is expected to be included in the revenue statistics system, becoming a new growth pole for platform income and continuously injecting momentum into overall revenue growth.

With the layout of “liquid staking + lending + energy leasing” multi-dimensional business, JustLend DAO has successfully constructed a diversified income model. This model effectively avoids the risks associated with reliance on a single business, enhancing the robustness of the overall financial structure and the potential for sustained growth, demonstrating strong competitiveness and development vitality in fierce market competition.

The large-scale repurchase and Burn Mechanism of 59 million USD in JST has been implemented, and ecological benefits continue to drive the rise in JST's deflationary value.

As the governance token of JustLend DAO and the entire JUST ecosystem, JST has always been a focal asset in the crypto market. Since 2025, JST has continuously made breakthroughs in ecological expansion and value enhancement. A recent repurchase and burn plan for JST, amounting to approximately $59 million, has been fully launched, laying a solid foundation for its long-term deflationary value.

On October 21, the JST long-term buyback and burn plan jointly launched by JustLend DAO and the USDD multi-chain ecosystem was officially implemented, with the first round of large-scale burns completed simultaneously, marking the official entry of JST into a new stage of value rise.

Specific data shows that JustLend DAO has extracted approximately 59 million USDT from its yield reserves for this round of buyback and burn. The first round has executed 30% of this (approximately 17.72 million), resulting in the destruction of about 560 million JST, accounting for 5.66% of its total supply; the remaining 70% (approximately 41.42 million) will be deposited into the SBM USDT lending market and will be gradually advanced for destruction over four quarters. Currently, users can track the destruction progress and pending destruction fund data in real-time through the Grants DAO or Transparency page on the JustLend DAO official website.

The repurchase and burn mechanism of JST is the starting point of the long-term deflationary model of JST built by JustLend DAO based on the real ecological revenue. This deflationary model is based on approximately 59 million USD of existing revenue from JustLend DAO, and in the future, it will continue to inject the platform's net revenue as well as incremental revenue exceeding 10 million USD from the USDD multi-chain ecosystem. This design of “existing revenue as the foundation, incremental revenue as the continuation” deeply binds the value of JST with the development of JustLend DAO and the USDD ecosystem, forming a virtuous cycle of “the more prosperous the ecosystem → the higher the profit → the stronger the deflationary force,” thus constructing a clear and sustainable long-term deflationary path for JST.

With the gradual implementation of the burn plan, the long-term value logic of JST is becoming increasingly clear. The first round of burning approximately 560 million JST has resulted in a one-time reduction of about 5.66% in the total supply. With the continued promotion of subsequent quarterly buybacks, relying solely on the extracted JustLend DAO stock earnings, the cumulative deflation rate of JST is expected to exceed 18% (calculated based on JST's current market price), making JST one of the tokens with the largest amount burned in the current DeFi market.

Under the premise of a constant total supply of JST (9.9 billion tokens), each JST that is burned means a reduction in circulation. The continuous deflation of circulation will significantly enhance its scarcity, thus providing strong support for the price of JST, pushing its value into a long-term rising channel.

With real ecological benefits at its core, combined with the advantages of compliance processes and high liquidity, the long-term value logic of JST is continuously strengthening, and its growth potential is becoming increasingly clear.

The globalization process is accelerating comprehensively: offline activities have spread across dozens of countries worldwide, and the ecological influence continues to expand.

This year, JustLend DAO continues to strengthen its global layout by integrating multiple paths such as exchange partnerships, connections with mainstream financial institutions, and high-frequency offline activities, comprehensively expanding its circulation boundaries, funding channels, and brand influence.

In terms of deepening cooperation with exchanges, the global circulation layout of JST assets has achieved significant results, with multiple top trading platforms intensively launching in the first half of the year, enhancing compliance recognition and market liquidity simultaneously. In April, the global compliant crypto exchange Kraken launched the JST/USD and JST/EUR spot trading pairs, not only opening up channels to the European and American markets and significantly increasing the global exposure and liquidity of the assets, but also marking a key step in the compliance process of the TRON ecosystem; subsequently, the leading global exchange Binance launched the JST/USDT perpetual contract, providing investors with diverse trading strategy options; platforms such as Lbank and others followed suit, further improving the global trading matrix.

As of November 12, JST has successfully landed on dozens of mainstream CEX such as Binance, Upbit, Kraken, establishing a solid position in the global cryptocurrency market.

In terms of connecting with mainstream financial resources, JustLend DAO has successfully built a bridge between traditional funds and ecological traffic: At the end of June, TRON, a US-listed company on the TRON blockchain, completed the staking of 365 million TRX through JustLend DAO, marking the platform as an important channel for traditional funds to enter the TRON blockchain, which is expected to attract more institutional funds in the future; In July, JustLend DAO completed full integration with Binance Wallet, allowing Binance users to seamlessly perform lending and staking operations, further expanding the user base and ecological influence with Binance's global traffic.

In addition, this year JustLend DAO has collaborated multiple times with core projects of the TRON Eco ecosystem such as SunPump, AINFT, and Bittorent, frequently appearing at top global blockchain industry summits, having participated in nearly ten high-profile international events across more than ten countries and regions including Asia, Europe, and the Middle East: from the Hong Kong Web3 summit, Japan WebX 2025, and Dubai TOKEN 2049 in the first half of the year, to the Singapore TOKEN 2049, Thailand Blockchain Week, Korea Blockchain Week, Vietnam GM Vietnam 2025, and Istanbul Blockchain Week in the second half of the year, JustLend DAO and its ecological partners have showcased a unified brand matrix, demonstrating collaborative development and technological accumulation.

At each summit venue, JustLend DAO collaborates with TRON Eco's core projects to set up professional exhibition booths showcasing the latest ecological achievements and data. They also enhance brand recognition and community cohesion through customized themed peripheral gifts and other forms. Through various forms and multi-regional brand exposure and technology demonstrations, it not only comprehensively presents the overall strength of ecological collaborative development but also pushes Web3 cutting-edge technologies and innovative concepts onto a broader global stage, further accelerating the globalization of blockchain technology and continuously strengthening TRON Eco's influence in the global industry.

Currently, the business footprint of JustLend DAO has covered dozens of countries and regions around the world, showing a strong trend of globalization and ecological synergy, becoming a core force in promoting the globalization process of the TRON ecosystem.

From continuous iteration of product functions and constant optimization of user experience, to the leap in TVL and the steady enhancement of global influence, JustLend DAO is firmly establishing itself among the top global DeFi applications with its comprehensive strength, further consolidating TRON's position as the ecological hub of decentralized finance.