Jupiter spikes 40% as founder says 50% of fees will go to token buybacks
Quick Take Jupiter’s pseudonymous founder ‘Meow’ announced the platform would burn $3 billion JUP tokens and begin using 50% of its fees to buy back the tokens from the market, leading to a spike in the token’s price. The announcement caps off Jupiter’s inaugural ‘Catstanbul 2025’ event, which also saw the platform announce an acquisition of a majority stake in memecoin launchpad Moonshot, launch an AI fund, and other major moves.
Solana-based DEX aggregator Jupiter capped off its inaugural 'Catstanbul 2025' event with a keynote from its pseudonymous founder, 'Meow,' who excitedly announced upcoming changes to the platform's native governance token, JUP.
Meow declared his intention to make JUP into the "most GOATed [greatest of all time] token," touting the platform's dedicated team and community. Meow reminded the crowd of the planned burning of 3 billion JUP tokens (initiated by the burning of a large metal cat sculpture ), currently worth $3.6 billion, in a play to "reduce emissions, increase certainty, and reduce FDV."
"We want to really connect the entire world...and it's not going to be easy," Meow said . "We need a lot of incentives, we need a lot of capital, we need a lot of funds...the goal is simple, we need JUP to be that firepower."
Then Meow made another major announcement: the platform would begin using 50% of its protocol fee revenue to buy back JUP tokens to be held in the "long-term litterbox," whereas the other 50% of fees will be deployed for "growth, future strategy, and full operational stability."
"I strongly believe that the value of a token is not anchored in buybacks, despite what [Crypto Twitter] might tell you," Meow said. "The value of a token is anchored in community...remember, every coin is a memecoin."
The announcement led the price of JUP to rise about 40% from its low around $0.90 to about $1.27 before retreating slightly, according to The Block's JUP price page .
"I don't want to ever f---ing sell JUP for operational reasons," Meow said. "Why? Because JUP is not for expenses, JUP is for alignment." Meow noted that Jupiter may sell JUP to establish long-term partnerships with partners who are "really aligned with us."
The announcement caps off the platform's event which also saw Jupiter make major moves in the AI and memecoin space , acquiring a majority stake in memecoin launchpad and Pump.fun competitor Moonshot, introducing a new 'Jupnet' omnichain network currently in beta, debuting a V2 upgrade of the platform, and launching a new $10 million AI fund in conjunction with Eliza Labs.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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