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What will be the market reaction to Jupiter's $JUP buyback and burn by Q3 2025?
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Story
Jupiter Exchange to Use 50% of Protocol Fees for $JUP Buybacks, Plans to Burn 3 Billion JUP
Jan 26, 2025, 11:56 AM
Jupiter Exchange has announced a new initiative to allocate 50% of its protocol fees towards buybacks of its $JUP token. This move is aimed at enhancing the token's utility and value, signaling a shift from governance to utility within the Solana ecosystem. The buyback program is part of Jupiter's strategy to build a long-term reserve of $JUP tokens, with the exchange charging a 0.05% fee on all Ultra swaps. Additionally, Jupiter plans to burn 3 billion JUP tokens at an upcoming event called Catstanbul.
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