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📌 Solana DEX-aggregator Jupiter unveils next token candidate for startups.

Solana DEX aggregator Jupiter has announced three startup token candidates following the launch of its own JUP token last week. Jup

– Solana DEX aggregator Jupiter has announced three startup token candidates following the launch of its own JUP token last week.

The candidates were liquid betting service Sanctum, collateral platform NFT Sharky and cross-chain protocol deBridge.

Solana DEX aggregator Jupiter JUP -8.61% nominated three “OG” Solana projects that could be the next tokens to launch on the new LFG startup platform.

Jupiter launched its own managed token, JUP, last week and has also sent out nearly one million wallets to Solana. Solana-based independent memcoin WEN was the first token to launch on the LFG Launchpad last month.

Liquid staking service Sanctum, collateral platform NFT Sharky, and cross-chain interoperability protocol deBridge were named as candidates for the next LFG in yesterday’s post by Jupiter founder Nya (pseudonym), who shared his plans He called for project sharing.

While these projects seem to have already been chosen, Meow emphasized that the LFG is a community initiative and the Jupiter team should not play a role in choosing the right tokens to launch. This will be decided by a vote of community leaders.

Over the next two weeks, we will showcase these projects to the community through various channels including town halls, dedicated channels for each project and X-Summaries,” Meu said. Other projects are also welcome to apply.”

Along with further product updates, Jupiter intends to launch the Jupiter DAO this month, with operating funds and incentives for participation; the DAO will initially focus on startup project evaluation and approval, grant approval, and ongoing community and ecosystem initiatives. The focus will be on budget disclosure; all fees generated from the JUP token launch (about 100 million JUPs worth $54 million) will be distributed to operational participants in the first year as incentives, Nia said.

The launch of JUP has been controversial. Some users complained that the token launch pool was being used by the team to sell tokens to the public. In response, Meow said it transparently explains how the pool works.

Yesterday, Meow confirmed that the pool closed on schedule seven days after launch, with 96 million JUP tokens ($52 million) withdrawn to a cold multisig wallet and nearly $70 million to be withdrawn in $10 million increments over the next few months.

The pool was created to stabilize volatile price swings and to allow airdrop recipients and early buyers to sell into the pool at will. But the pool is not conducive to price discovery because of the barriers to selling and buying,” Miau said, adding that closing the pool will allow JUP to restore price discovery.”

According to The Block, JUP is currently trading at US$0.54.

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