Attention all crypto lovers and token holders! 💸 Solana-based Jupiter Exchange is about to heat things up with its buyback program!
Jupiter is the hottest DEX aggregator in town, with daily volumes sizzling around $3.2 billion, as of Feb. 14. And now, they’re turning up the heat with their token buyback plan!
On Feb. 13, Jupiter announced they’d start buying back their JUP tokens using protocol revenue. Starting Feb. 17, they’ll use 50% of their fees to buy back JUP tokens, locking them away for three whole years! 🔒
Crypto researcher Aylo, in an X post, said this move “increases the number of potential new buyers, and absorbs sellers more effectively.” Could this be the beginning of a beautiful relationship between Jupiter and its token holders? 💕
Riding the Wave of Popularity 🌊
Jupiter is the most popular DEX aggregator, with around $3.2 billion in daily volume as of Feb. 14. It has earned roughly $6 million in fees since inception, the data shows. As an aggregator, Jupiter routes users’ trades to various other DEXs for the cheapest swaps.
Jupiter has benefited from Solana’s surging trading volumes, largely driven by increased memecoin activity. Since 2024, Solana-based Raydium has emerged as the most popular DEX by 30-day trading volume, eclipsing Uniswap.
Buyback Bonanza 💸
Decentralized finance (DeFi) protocols are under pressure to share the love with tokenholders, with projects such as Aave, Ethena, and Ether.fi piloting value-accrual mechanisms for their native tokens.
Following this trend, Maple Finance is considering using protocol revenues to buy back native SYRUP tokens and distribute them as rewards to stakers. Could this be the start of a beautiful friendship between DeFi projects and their token holders? 🤝
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2025-02-14 21:18