Jupiter Launches New Buyback Plan to Reduce Token Supply

Jupiter (JUP) has unveiled a new buyback strategy, set to begin on Monday, which will see half of its protocol fees allocated to the purchase and three-year lock-up of JUP tokens.

The exchange also plans to launch a dashboard next week to offer full visibility into the buyback process.

The main objective of this initiative is to decrease the total supply of JUP tokens, with all acquired tokens being locked for a period of three years.

Jupiter emphasized that full transparency will be provided, stating, “Everything will be transparent, and the dashboard is coming next week. Here is the harmony.”

This buyback plan was revealed during the recent Catbedsault Conference, where Jupiter also discussed platform growth and its acquisition strategy within the Solana ecosystem.

This new buyback initiative follows a similar effort in January, where 50% of protocol fees were used to buy back and burn JUP tokens, resulting in a 60% increase in the token’s value. However, it remains uncertain if the current buyback will have the same effect on JUP’s price.

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Alexander Stefanov

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