JustLend recently introduced a Buyback and Burn initiative to enhance the value of JST and TRX tokens and fortify the JustLend ecosystem.

Through this program, the stUSDT JustLend platform allocates a portion of its earnings to buy back JST and TRX tokens, which are then deposited into the JST/TRX liquidity pool on SunSwap V2.

The LP tokens received from this process are placed into a pre-burning contract and eventually destroyed, benefiting all JST/TRX token holders by increasing the token's value. The first LP token burning, conducted on February 14, 2024, saw the destruction and buyback of 1.764062 LP tokens, valued at approximately $262,279.73.

These tokens were sent to a blackhole address. JustLend, known for its decentralized lending platform, provides users with a secure marketplace to earn interest, obtain loans with minimal transaction costs, and participate in various activities such as TRX staking and energy renting.