As per an announcement from Jupiter's enigmatic chief, Meow, during their trailblazing community gathering in Istanbul 2025, the DEX dedicated 50% of its fee income for $JUP token repurchases. protocol fee Jupiter has rolled out a plethora of new ventures and enhancements for their project.
According to analytics from Syndica, Jupiter amassed a revenue of $102 million in 2024, suggesting a potential $50 million earmarked for token repurchase. CoinMarketCap brings to light that this represents roughly 2.9% of JUP's present market value of about $1.69 billion.
Jupiter introduces significant mergers and enhancements.
Making $JUP the GOAT Token.
— Jupiter 🪐 (@JupiterExchange) January 26, 2025
Solana Rising
The buyback strategy triggered a bullish trend for Jupiter's token, with JUP escalating by 20% to hit $1.27 before reversing course, settling at $1, as per CoinMarketCap’s data.
The other half of the earned protocol fees is funneled into nurturing the ecosystem, ensuring consistent upgrades to the platform.
According to DefiLlama’s data, Jupiter currently ranks as the third formidable player in the DeFi domain, boasting a total value locked (TVL) surpassing $2.7 billion as of January 17.
Besides the buyback agenda, Jupiter unveiled substantial updates at the Catstanbul showcase, notably the absorption of Moonshot and SonarWatch. However, the deal's financial aspects were kept under wraps at the time of reporting. protocol on Solana Earlier on a Saturday, Jupiter disclosed purchasing a controlling interest in Moonshot, a memecoin trading application that gained prominence following the triumph of the Official Trump (TRUMP) memecoin on Solana. Competitor Pump.fun rode the wave, spotlighted as the preferred venue for trading the token on the project's site.
Token buybacks, a wise choice among crypto operators, often render tokens rarer, thereby propelling their value, while curtailing availability to battle inflation. This undertaking also mirrors the project’s devoted path, instilling investor trust.
“Their team stands out as one of the sharpest, most driven collectives I've encountered, making it incredibly thrilling to project the future of memes with them,” commented Meow regarding the acquisition.
That same day, Jupiter revealed they acquired SonarWatch, a sophisticated dashboard and asset management tool for the DeFi world.
A cornerstone of the agreement involves integrating SonarWatch's personal portfolios into Jupiter’s framework, enabling users to monitor their blockchain activities seamlessly on both web and mobile platforms.
SONAR tokens will transition into JUP tokens, a maneuver aimed at boosting Jupiter’s suite of services and equipping users with holistic portfolio management tools within Solana’s network.
Moreover, Solana DEX Jupiter rolled out a significant 'v2' reworking of the platform, ushering in functionalities like Ultra Mode and Jupnet, alongside venturing into AI and memecoin sectors.
Moving Things Around
Jupiter's Ultra Mode sets out to overshadow rivals, purporting to be ten times more affordable and efficient, featuring real-time slippage calculations, dynamic prioritization fees, enhanced transaction processing, and a fresh security layer dubbed 'Jupiter Shield' to safeguard user assets.
The team unveiled Jupnet, a groundbreaking cross-blockchain network that seeks to coalesce varied crypto activities into a unified, decentralized ledger usable by both lay users and developers. Jupnet is currently in its nascent testing phase, with a general beta anticipated shortly.
Jupnet’s blueprint envisions a decentralized web of independent validators establishing a singular source of truth across various blockchains, concurrently facilitating cross-chain transaction processing.
On the artifice intelligence front, Jupiter unfurled a $10 million 'Magic Fund' to bolster open-source AI innovation alongside Eliza Labs, the creators behind the AI pioneer project ai16z.
Shaw Walters of Eliza Labs also teased out features of the second installment of ElizaOS, previewing research in March and a full-fledged public release in April.
Another event highlight was the extension of the AI agent entity, Virtuals Protocol, into the Solana realm post its debut on Coinbase’s Base.
Nicholas Say, hailing from Ann Arbor, Michigan, has extensive travel credentials, living in Uruguay for years and now based in the Far East. His prolific writing journey spans across the web, intensifying on realistic tech advancements and the forthcoming wave of human technology.
SIR.trading's DeFi protocol fell prey to a security breach, suffering a $355K loss due to exploitation targeting Ethereum's transient storage solution.
