JustLend DAO @DeFi_JUST This first round of buyback and burn has indeed shown the market a different way to play. Right off the bat, it eliminated 560 million $JST, accounting for 5.6% of the total supply. Such a strong start is quite rare in the industry. More importantly, this is not a one-time marketing move, but is built on a clear and sustainable deflationary mechanism. From the perspective of funding structure, this buyback is backed by over 59 million USDT in accumulated earnings extracted from the JustLend DAO platform. According to the plan, 30% will be used as the initial round of burn funds, while the remaining 70% will be executed gradually over four quarters. These unburned funds are also not idle, as they have been deposited into the JustLend DAO's SBM lending market to continue earning interest. This design of "phased release + fund reuse" not only avoids overheating the market in the short term but also ensures the sustainability of long-term deflation. The deflationary logic of JST is eye-catching because it directly anchors the real earnings of the ecosystem. The funds mainly come from two sources: the existing and future net income of JustLend DAO, and the incremental earnings after USDD's multi-chain ecosystem profits exceed 10 million dollars. These two parts of the funds will be fully directed towards JST buybacks and permanent burns. In other words, the intensity of JST's deflation is directly linked to the profitability of these two core components, JustLend DAO and USDD. The cleverness of this design lies in its construction of a positive cycle: "the more prosperous the ecosystem → the higher the business profits → the stronger the deflationary force." As the lending scale of JustLend DAO expands and the circulation of USDD increases, the buyback fund pool will also expand accordingly, fundamentally solving the problem of insufficient momentum for the deflationary mechanism in the future. Speaking of ecosystem support, JustLend DAO, as the core lending protocol of the TRON #TRON ecosystem, is no longer just a simple lending market. It has upgraded to a comprehensive DeFi platform that integrates lending markets, liquid staking, and energy leasing. As of October 21, the total locked value on the platform has exceeded 7.62 billion dollars, with a user base reaching 477,000, firmly maintaining its position as the leading DeFi protocol in the TRON ecosystem. Even in the global lending track, its TVL has consistently remained in the top four of the industry. The platform's profitability is also worth noting. According to disclosed data, JustLend DAO's cumulative earnings extracted this time are about 59 million dollars. DeFiLlama data shows that in the third quarter of this year, the single-quarter captured fees approached 2 million dollars, with daily earnings exceeding 20,000 dollars and maintaining a growth trend. This means that even without considering the existing funds, the incremental income alone can support a buyback scale of nearly 6 million dollars each month. USDD, as the decentralized stablecoin launched by the JUST ecosystem, currently has a circulation exceeding 450 million dollars, completing deployment across multiple chains including TRON, Ethereum, and BNB Chain. When the USDD ecosystem profits exceed the 10 million dollar threshold, the excess earnings will be injected into the JST buyback fund pool, becoming the "second engine" of the deflationary mechanism. From the perspective of the entire JUST ecosystem's scale, the total locked value of the system reaches 12.2 billion dollars, accounting for 46% of the total TVL on the TRON network. This data speaks volumes—nearly half of the assets on the TRON chain choose to settle within the JUST ecosystem, reflecting the market's recognition of the ecosystem and indicating its ability to continuously generate stable earnings. In terms of token fundamentals, JST has achieved 100% full circulation in the second quarter of 2023, with a total supply fixed at 9.9 billion, with no future unlocking pressure. This means that each buyback and burn is a real reduction in the actual circulating supply. According to estimates, relying solely on JustLend DAO's existing earnings, the cumulative deflation ratio will approach 20%. If future incremental earnings are included, this number will further increase. In horizontal comparison, JST's current market value is about 300 million dollars, while JustLend DAO's single platform accumulated earnings reach 60 million dollars, equivalent to 20% of its market value. Among similar projects in the crypto market, most buyback plans have a funding ratio of less than 5%, making JST's deflationary intensity truly a benchmark in the industry. From the product architecture perspective, the supporting logic behind #JST has fundamentally changed. It is no longer a single-function DeFi protocol but has integrated multiple functions such as lending, stablecoins, and staking into a comprehensive platform. This full-chain layout makes JST's value support more three-dimensional and solid. It is particularly worth mentioning the safety record of #JustLendDAO. Since its launch in 2020, the platform has maintained a zero-security-incident operational record, which is particularly valuable in the frequently incident-prone DeFi field. This reliability, combined with TRON's ecosystem as the world's largest USDT circulation center and a user base of over 340 million, provides a solid guarantee for JST's long-term development. While many projects are still chasing market hotspots, JST has already built a long-term value growth logic through this deflationary mechanism. It is based on the real earnings of the ecosystem and takes sustainable deflation as the path, making a substantial step on the road to value return. As existing funds are released in batches and incremental earnings continue to be injected, JST's deflation story is just beginning.