JUST
JST#63JST is the governance token of JustLend DAO, the largest lending protocol on TRON.
- Market cap
- $1.1B
- Volume 24h
- $43.69M
- All-time high
- —
- Circulating supply
- 8.19B of 9.9B
Fails our Shariah screening. Needs caution: nature of the asset, excessive uncertainty (gharar), and benefit and harm (maslahah). Fails: interest (riba), business model, and usage.
- 2 pass
- 3 caution
- 3 fail
Verdict history
- Not halalCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold JUST?8 Shariah criteria
2 pass · 3 caution · 3 failJST pays no interest itself, but its buyback is funded in part by JustLend's share of borrower interest and by interest earned on parked buyback funds, so holders benefit from riba income.
Riba means interest or any guaranteed increase on a loan. Simply holding JST pays nothing, and locking it to vote earns nothing. The problem is where the token's value comes from. Under the buyback programme implemented on 21 October 2025, JustLend DAO's net revenue (sTRX revenue plus Supply and Borrow Market net revenue, which is the protocol's reserve-factor share of borrower interest) and USDD revenue above $10 million go to buying JST and burning it, and unspent revenue (about 41 million USDT, as reported by crypto.news) was put into JustLend's own interest-bearing USDT market until later
buybacks. A buyback is not a direct payout, but it passes the value of interest income to holders. Sharlife rates JST impermissible, consistent with this link to interest; JST can also be supplied to lending markets for interest, which is riba in itself.
JST governs a large working protocol, but its utility is voting on an interest-based business, and official bodies disagree on whether crypto is property (mal).
Mal is property that Islamic law recognises as having value and that can be owned and traded. JST is not an empty record: JustLend is a working protocol with about $7.2 billion of value locked on 27 September 2026 (DefiLlama), and JST votes decide its markets, parameters and treasury. But JST gives no claim on assets or revenue, and its only built-in use is governing what is mainly an interest-based lending business.
Sharlife, the first authoritative source in Liberandum's list to rate JST, calls it impermissible, and CryptoUmmah rates it haram; this coin-specific limitation keeps the criterion at caution.
JST is not a gambling token, but on Binance its futures trade more than its spot market.
Maysir is gambling: winning or losing by chance rather than through productive exchange. Ordinary price swings are not maysir, and JST has no lottery or betting mechanics. The score is lowered within the pass band because trading around it is speculative: in a single-day snapshot on 27 September 2026, Binance JSTUSDT perpetual futures traded about $4.31 million against about $2.98 million on the spot pair, about 59% futures, and the buyback programme is promoted with price-focused marketing.
JustLend is a money market whose retained protocol revenue is a share of borrower interest; no breakdown shows interest below 5%, and that income funds the JST buyback.
This criterion asks how the protocol earns and whether its income is permissible. JustLend DAO is a Compound V2-style money market: lenders earn interest, borrowers pay it, and the protocol keeps a reserve-factor share of the interest. DefiLlama counted about $12.85 million of fees over the year to 27 September 2026 (borrower interest plus Energy Rental fees) and defines protocol revenue as the share of interest kept under reserve factors, and the buyback proposal names Supply and Borrow Market net revenue as a funding source for JST.
Renting TRON Energy and sTRX are closer to permissible, but no breakdown shows them large enough to bring interest below 5% of income, and USDD, whose revenue above $10 million also feeds buybacks, places reserves with lending platforms such as Aave. Interest is the core product, so this is fail, in line with Sharlife's impermissible rating and ShariaQuant's haram rating.
Supply and burns are on-chain, but revenue figures used for buybacks do not match public data, and the ecosystem is closely tied to one founder.
Gharar is excessive uncertainty or hidden information in a deal. Some things are transparent: the maximum supply is 9.9 billion JST, burns are reported round by round, contracts are public, and governance changes pass through on-chain votes with a 48-hour timelock. Other things are unclear. The project reported about $59 million of accumulated revenue in October 2025 and about $10.28 million of net income in Q2 2026, while DefiLlama counts only about $0.5 million of reserve-factor revenue over the past year; the difference (probably sTRX and other income) is not itemised publicly.
The contract's own totalSupply (about 9.79 billion) differs from the circulating figure CoinGecko uses (about 8.19 billion), because most burned tokens were not removed through the contract's burn function. Proposals need 200 million JST and pass with 600 million votes, and the holder distribution was not checked. The ecosystem is closely linked to TRON founder Justin Sun, whose SEC case over TRX and BTT (JST was not named) was settled in March 2026 under a proposed judgment, subject to court approval, in which Rainberry pays a $10 million penalty and the other claims are dismissed.
JST's main purpose is governing an interest-based lending protocol.
This criterion looks at what the asset is actually used for. JST's built-in use is voting on JustLend DAO proposals: which lending markets to list or remove, interest-rate and collateral parameters, reserve factors and how revenue is spent. The largest of the services it governs is the Supply and Borrow Market, where users earn and pay interest. Part of JustLend's activity is permissible in itself: renting TRON Energy lowers the cost of ordinary TRON transactions, and sTRX pools TRX for network voting.
Even so, the main purpose of the token is governing interest-based finance, which is rated fail.
Fully paid spot JST is available on major exchanges and can be held in one's own TRON wallet.
This criterion asks whether the asset can be owned in a permissible way, separately from whether the asset itself is acceptable. JST trades spot with full payment and delivery, for example on Binance's JST/USDT pair, and as a TRC-20 token it can be withdrawn to a self-custody TRON wallet. Ownership does not depend on derivatives or leveraged wrappers, so the criterion gets the maximum score.
Cheaper TRON Energy is a real benefit, but the protocol mainly spreads interest-based borrowing and lending.
Maslahah weighs public benefit against harm. The benefit is real: JustLend's Energy Rental market lets users pay 50–80% less than burning TRX for transaction resources on TRON, a network widely used to move stablecoins. The harm is that the protocol's main activity is interest-based lending, and the token is marketed around buybacks paid for by that interest, including through sponsored articles. The SEC's wash-trading allegation concerned TRX, not JST, and Rainberry agreed in March 2026, without admitting or denying it, to a proposed settlement that still needs court approval.
The riba itself is counted under riba and business model, not again here.
How you can use it
Tap a card for the ruling and sourcesFully paid spot JST is available on major exchanges, but spot is acceptable only for a HALAL or DOUBTFUL asset. JST is rated HARAM, so buying it spot does not pass.
There is no exchange-traded fund holding JST. A fund holding it would be assessed like spot, which fails for a HARAM asset.
JST is not used as a payment coin. Tier-1 bodies such as Indonesia's MUI rule that using cryptocurrency as currency is not permissible, and paying with an asset rated HARAM does not pass.
JST has no native staking: it is not used to validate a blockchain. Locking JST as WJST to vote earns nothing. sTRX on JustLend stakes TRX, not JST. Any product labelled 'JST staking' should be checked for its source of return; if it pays from lending interest or buybacks, it is not staking.
Margin trading in JST is never acceptable: it is a deferred exchange with borrowed money and leverage (AAOIFI SS 20).
JST perpetual futures trade on Binance and in a 27 September 2026 snapshot out-traded its spot pair there, but futures, perpetuals and options always fail under AAOIFI SS 20: deferred exchange without delivery, usually with leverage.
Supplying JST or other assets to JustLend or exchange lending programmes pays interest from borrowers. This is riba.
JST yield comes from lending interest or from buybacks funded by lending revenue, so yield products on JST fail.
Scholars quotes
Penggunaan cryptocurrency sebagai mata uang hukumnya haram, karena mengandung gharar (ketidakjelasan), dharar (bahaya) dan bertentangan dengan Undang-Undang nomor 7 tahun 2011 tentang Mata Uang dan Peraturan Bank Indonesia nomor 17 tahun 2015 tentang Kewajiban Penggunaan Rupiah di Wilayah Negara Kesatuan Republik Indonesia.Bitcoin is a digital currency that does not meet the legal and Sharia criteria that make it a currency subject to the rulings of dealing with official legal currencies recognized internationally.بناءً على ذلك: فلا يجوز شرعًا تداول عملة "البتكوين" والتعامل من خلالها بالبيعِ والشراءِ والإجارةِ وغيرها، بل يُمنع من الاشتراكِ فيها؛ لعدمِ اعتبارِها كوسيطٍ مقبولٍ للتبادلِ من الجهاتِ المخُتصَّةِ، ولِمَا تشتمل عليه من الضررِ الناشئ عن الغررِ والجهالةِ والغشِّ في مَصْرِفها ومِعْيارها وقِيمتها، فضلًا عما تؤدي إليه ممارستُها من مخاطرَ عاليةٍ على الأفراد والدول.Simply buying and holding JST is Haram because the protocol's core business is decentralized lending and borrowing via JustLend DAO, which relies fundamentally on interest (riba).According to research and opinion of experts so far, cryptocurrency is not considered ‘ maal ’ (wealth) in Sharia.Sebagaimana mata wang yang lain, mata wang digital hendaklah tidak digunakan sebagai bayaran kepada barangan, perkhidmatan dan aktiviti tidak patuh Syariah seperti pembelian dadah, pelacuran, perjudian dan pendanaan aktiviti keganasan serta penggubahan wang haram.The SAC has also resolved that investment and trading of Digital Assets that fulfil the above requirements and which are traded on Digital Asset Exchange (DAX) registered with SC are permissible.Third: In light of the above and given the significant risks associated with this type of currencies and the instability of their transactions, the Council of the Academy recommends pursuing research and studies on issues affecting its ruling.Muhammadiyah memandang transaksi dan investasi kripto pada dasarnya mubah (boleh) tetapi dengan syarat tertentu.The opinion on this is the same as doing the same with any halal assets such as shares – 1) is permissible, 2) is more debatable and there are differing opinions on short-term trading.Our current position is 'tawaquf'; we can't say it is halal or haram, but we say it is better not to engage in itAs I mentioned at the beginning of this article it is not necessary to substantiate the permissibility of something as long as there are no prohibited factors involved in it or surrounding it.AI-assisted analysis checked against sources. Not a fatwa or investment advice.
Where it trades
Section in preparation
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