JustLend
Credit · JST
JustLend DAO is the dominant pooled money market on Tron, especially for USDT lending, and part of the broader JUST ecosystem.
The largest lending market on Tron.
JST price
$0.0897
+1.6% 24h
Latest data · 15 min delay
Risks identified
- Network
JustLend runs exclusively on TRON, a chain widely criticized for its high degree of centralization (a small, foundation-influenced set of Super Representatives). Chain-level halts, censorship or governance capture would directly impair the protocol, and the sTRX product is tightly coupled to TRON's Super Representative voting and Energy/Stake 2.0 mechanics.
- Regulatory
The protocol sits inside the JUST ecosystem broadly associated with Justin Sun, who and whose entities (TRON, related token issuers) have faced SEC litigation and regulatory scrutiny. Adverse action against the founder/ecosystem, or against the USDD stablecoin heavily used as collateral/borrow asset, presents an outsized regulatory overhang versus jurisdiction-neutral peers.
- Oracle
CertiK's audit specifically flagged oracle design as a risk area. Collateral valuation and liquidation depend on price feeds configured by protocol admins; a manipulated, stale or misconfigured feed could cause bad-debt-inducing under-liquidation or unfair liquidations, especially on thinner TRON-native markets.
- Governance
The CertiK audit and SlowMist review highlighted centralization of admin/reserve controls: admins can set fee parameters (minFee, feeRatio) without hard min/max bounds, and permissions had to be migrated to governance/Timelock contracts. Concentrated JST holdings within the JUST ecosystem mean on-chain governance could in practice be steered by a small group.
- Reserve / Depeg
A large share of activity is in USDT and especially USDD, an ecosystem stablecoin. USDD has previously traded below its $1 peg; a USDD depeg would impair collateral values, strand borrowers, and could generate protocol bad debt given USDD's prominence as both a supplied and borrowed asset.
- Smart Contract
The protocol is a large Compound V2 fork extended with custom sTRX, Energy-rental and, since June 2026, isolated-market (SBM V2) contracts. Despite CertiK/SlowMist audits and a $50k Immunefi bounty, forked and newly rewritten lending code carries residual exploit risk, and the SBM V2 rewrite is comparatively new and less battle-tested.