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.