Jupiter has officially started his first Jup token shell, with data on the chain that confirm that 4.88 million Jup worth $ 3.33 million has already been bought back.
The purchasing of 26 February was reported on X by the popular on-chain analyst AI 姨, who marked the cat bin address of Jupiter (Jup) that was used for all return transactions. The return is the first step in the larger strategy of Jupiter to buy back Jup tokens with 50% of the protocol costs.
https://twitter.com/ai_9684XTpa/status/1894587658359509509255?s=46&t=NZNXKSSS3DEBX8JIHNZZWZWZWZWZWOWOWIGIERSEER EIALERAIL
The return initiative, which was unveiled on 13 February, intends to reduce the number of tokens in circulation by locking the returned tokens for three years and generating consistent purchasing pressure. The cryptocurrency community has welcomed the move and regards it as a net positive that will encourage the question and prevents Jup from becoming a ‘value drop’.
Jupiter is expected to spend around $ 50 million on Jup -Berkoop this year, based on the turnover of $ 102 million in 2024. This repurchase would represent around 2.7% of Jup’s market capitalization of $ 1.8 billion.
Jupiter has continued to hold as Solana’s Top Dex -Aaggregator. The protocol generates reimbursements by leading transactions between many DEXs, such as Raydium and Orka, and ensuring that traders receive the best exchange rates. In the past year, Jupiter’s income has increased considerably as a result of the Memecoin trade Raziernij on Solana.
The Jupiter Perps trade platform, which owns more than 80% of the eternal decentralized exchange market of Solana, has made another important contribution to the turnover growth of Jupiter. In 2024, sales increased sharply from $ 3 million in January to $ 21 million in December, according to on-chain Analyst Ai 姨.
Almost 40% of the total turnover of Jupiter for the year, or $ 35.86 million, came out of reimbursements during considerable trading periods, including the peak in Trump Memecoin Trading.
The buyback initiative of Jupiter is in line with a larger Defi trend in which protocols such as Aave (Aave) and Ethena (ENA) implement token value battery methods. Although the long -term effects can still be seen, the return initiative shows an increasing emphasis on tuning the token hole value with protocol growth.
