Announcement on the Buyback & Pre-burning of the LP (JST/TRX) Token

Governance Grants
1

Dear users,

To enhance the development of the JustLend DAO ecosystem, the stUSDT platform will allocate a portion of the protocol‘s revenue for the buy-back and pooling of JST and TRX tokens into the SunSwap V2’s JST/TRX liquidity pool (LP). The LP (JST/TRX) tokens obtained will be deposited into the pre-burning contract for subsequent burning.


Time of the first pre-burning: 19:48 Thursday, Jan 04, 2024 (SGT)

The amount of LP (JST/TRX) bought back and pre-burned on the first occasion is: 1.764062 (worth about $228,000).

Currently these tokens bought back and pre-burned have been deposited into the pre-burning contract:


Buyback & Pre-burning Mechanism

Buyback: The stUSDT platform will allocate a portion of the protocol‘s revenue for the buy-back and pooling of JST and TRX tokens into the SunSwap V2’s JST/TRX liquidity pool (LP).
Pre-burning: The LP (JST/TRX) tokens bought back will be deposited into the pre-burning contract for subsequent burning. You may view the details in Pre-burning Records.


Thank you for your support for JustLend DAO!
The JustLend DAO Team
January 05, 2023

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2

We have had another financial quarter go by when will the burn happen again?

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3

Thanks for your concern. The Buyback & Pre-burning of the LP (JST/TRX) Token event depends on the revenue of stuUSDT paltform. Currently, the profitability of the stuUSDT platform is not very optimistic, so we will hold this event only when the platform achieves good profitability. Hope this could answer your question.

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