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Is JUST (JST) halal?

Prohibited

2 conditions out of six fail.

Verdict calculated by Halal Bourse's published rules from an investigation of primary sources (project documentation, registers, decisions), conducted on 10/07/2026 and not reviewed by a human.

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The asset

Governance token of the JustLend DAO protocol, a crypto lending and borrowing protocol on TRON (TRC-20), also linked to the USDD stablecoin through buyback-and-burn Issuer: JUST Tech Limited, the company applying for admission to trading in the European Union (registered in the British Virgin Islands on June 13, 2024 according to the MiCA white paper; named director: Yang Zi; address in Singapore; no parent company); original issuer: Just Foundation Ltd., a Singapore company registered in 2018 and now struck off; the JustLend DAO protocol is governed by JST holders.

JST is the governance token of JustLend DAO: holders lock their JST to vote on improvement proposals (parameters, asset listings, reserve factors, interest rates, buyback and burn rules), and the token also serves as a reward for the protocol's suppliers and borrowers. The maximum supply is 9.9 billion JST; about 8.19 billion are in circulation on October 7, 2026 according to CoinMarketCap, and a buyback-and-burn program funded by protocol revenue reduces the supply.

Why this verdict

  1. Permissible purpose : not met. The purpose of the protocol whose governance token is JST is lending and borrowing crypto against interest: suppliers earn interest, borrowers pay it, and JST holders set the parameters of these markets by vote (reserve factor, rate models). Three sources describe the protocol this way: its documentation, the issuer's MiCA white paper and DefiLlama.
  2. No riba : to be verified or tolerated case. Holding JST pays no amount: DefiLlama states that no revenue is distributed to holders. But the buyback-and-burn program is funded by the protocol's net revenue, drawn from the share of borrowing interest kept by the protocol (reserve factor), and by USDD ecosystem revenue above $10M; the interest is collected by the protocol and flows back indirectly to the token, as the protocol rules show. Suppliers and borrowers also receive JST as a reward (a product built on the token, outside the spot purchase).
  3. No gambling : met. A spot purchase covers a TRC-20 token transferable between addresses (441,790 holder addresses according to GoPlus on October 7, 2026), listed on exchange platforms; it is not a bet on a price difference with no purchase or delivery.
  4. No excessive gharar : to be verified or tolerated case. The rights attached to the token (governance by vote, rewards, buyback and burn) and the maximum supply of 9.9 billion are documented. But the original issuer, Just Foundation Ltd., is struck off, the company presenting the white paper has, according to that paper, no commercial activity or revenue, and the contract exposes mint and stop functions whose authority holder was not read (GoPlus flags a hidden owner, possible minting and possible pausing): who controls the supply is not established.
  5. Real ownership : met. JST is held in a personal TRON wallet and withdrawn freely; the contract does, however, expose a function that stops transfers (stop), and GoPlus flags that transfers can be suspended, with no address blacklist.
  6. No fraud or manipulation : to be verified or tolerated case. No sanction targeting JST or JUST Tech and no established deception of buyers was found. Points to be verified: the contract combines minting and pausing powers and an owner GoPlus could not identify, in the hands of an authority whose identity was not read, while the original issuer is struck off; if the team were to be considered anonymous, these two signals would fail the condition (rule A.8).
  7. Revenus illicites de l'émetteur : not met. 100 %, au-dessus du seuil de 5 %

Tolerance case

T2 · share of impermissible income: 100%. JST is neither the native currency of a network (T1) nor a stablecoin (T3). The protocol revenue that funds the JST buyback-and-burn is defined by DefiLlama as the share of borrowing interest kept by the protocol according to each market's reserve factor; the documentation adds USDD ecosystem revenue above $10M, drawn from stability fees on loans and from interest-bearing investments. No other source of protocol revenue is described: energy rental fees go to sTRX holders according to DefiLlama. The 100% figure is the investigator's reading of these definitions; JustLend publishes no percentage breakdown, and the share that goes to the token (buybacks) is not quantified.

Contract security scan

JST is a TRC-20 contract token on TRON, a chain the project's scanning tool does not cover; the contract was queried directly in the GoPlus API (chain “tron”). Result: 441,790 holders; top ten wallets excluding platforms, contracts and the burn address 27.8%; published code; token on GoPlus's trust list; no honeypot, no blacklist; transfer taxes not provided. Signals found: minting right (is_mintable); transfers that can be suspended (transfer_pausable); hidden owner (hidden_owner); no contract modifiable by proxy. Reading (rule A.8): the issuer is a named company (JUST Tech Limited, director named in the white paper), but the original issuer is struck off and the holder of the authority over minting and pausing was not read; these powers are read as signals under that reservation (see c4 and c6). Concentration alone is information.

Opinions found during the research

Opinions reported as read, named for what they are; they do not enter into the calculation of the verdict.

What could not be verified

Sources read

Other cryptos analyzed

General information: neither investment advice nor a fatwa. Verdict calculated by published rules, from financial statements read automatically and not reviewed by a human. Read the methodology