3/ JTX now has a direct, programmatic link to JTO value accrual. JIP-38 routes 80% of JTX revenue share into programmatic buybacks and burns for at least one year, creating a usage-to-supply-reduction mechanism. @brian_smith_0 framed 2026 as an investment year for BAM and JTX, with the expectation that stronger organic growth can support a return to greater tokenholder value accrual in 2027.(Blockworks)