Justin Sun pledges 100% support for pre-snapshot USDJ redemptions

Tron founder Justin Sun announced on X that he will fully support a 1:1 redemption for pre-snapshot holders of the stablecoin USDJ as it is being discontinued. He noted that only $200,000 worth of USDJ remains in circulation, and this amount is also eligible for the 1:1 redemption. Sun added that the project team has already bought back over 95% of the USDJ supply over the past year at prices above $1. The move follows an earlier announcement from the Just (JST) community, the DAO responsible for Tron-based DeFi governance, that it would phase out USDJ and support its conversion into TRX at a ratio of 1.5532 TRX per USDJ.