JST describes itself as the governance token for JustLend, a decentralized lending protocol built on the TRON blockchain. JST holders vote on protocol parameters and participate in treasury decisions.

Project Function

JustLend operates as a money market protocol where users supply crypto assets to earn interest or borrow against collateral. Governance proposals require a minimum token threshold to submit and a separate quorum threshold to pass, both denominated in JST.

Token Utility

The JST token has a hard cap of 9.9 billion, with approximately 85 to 89 percent in circulation. It is used within the JustLend protocol for:

Governance: voting on stability fees, collateral ratios, and treasury allocation

About The Founders

JustLend is associated with the TRON DAO ecosystem. The associated legal entity is referred to as the JUST Foundation. The protocol’s initial exchange offering took place on Poloniex LaunchBase in 2020, raising approximately $4.07 million.

Risks of JST

Like an investment in other crypto assets, there are some general risks to investing in JST. These include: (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in JST is subject to the following specific risks:

OKX removed JST spot and margin trading pairs in September 2025 citing generic listing criteria, approximately 26% of total supply is held in Foundation managed reserves, the buyback and burn program is revenue dependent rather than guaranteed, and the JUST Foundation’s jurisdiction of incorporation has not been clearly disclosed. Separately, Justin Sun’s broader association with the TRON ecosystem, including a March 2026 SEC settlement relating to separate TRON assets, is relevant context, though no enforcement action has been identified specific to JST.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with JST. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The JST community and its associated entities are not under any legal or regulatory obligation to disclose material information to the public regarding their activities. Holders of JST have no recourse to the JST community, its associated entities, or Uphold if JST declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing JST on the Uphold Platform, Uphold performed due diligence on JST and determined that JST is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis included reviewing publicly available information on the following:

The creation, governance, usage, and design of JST, including source code availability, audit status, security, and roadmap for growth in the developer community.

The supply, demand, maturity, utility, and liquidity of JST.

Any marketing materials put forward by the JST project team including on X and other official channels.

Material technical risks associated with JST, including any code defects, security breaches, and other threats concerning JST and its supporting blockchain.

Legal and regulatory risks associated with JST, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of JST.