Four buyback-and-burn rounds funded by protocol revenue have retired more than 17% of JST supply, according to on-chain data cited by Odaily on July 29.
JustLend DAO said cumulative JST sent to a black hole address has surpassed 1.604 billion tokens, with the on-chain value at about $161 million in data cited by Odaily on July 29. The protocol said it has completed four rounds of its buyback-and-burn plan using real protocol revenue, pushing total burns above 17% of JST supply. Token burns permanently remove coins from circulation, a mechanism often used by crypto projects to reduce supply and potentially support token economics over time.