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📌 Jupiter’s pseudonymous founder “Meow” caused token prices to skyrocket when he announced that the platform would burn $3 billion in JUP tokens and begin using 50% of the fees to buy back tokens.

Jupiter founder Meow announced that the platform would burn $3 billion in JUP tokens, with 50% of the fees going towards token redemption. Jup

– Jupiter founder Meow announced that the platform would burn $3 billion in JUP tokens, with 50% of the fees going towards token redemption.

The announcement was made at the end of Jupiter’s inaugural “Catstanbul 2025” event, where the platform also announced the acquisition of a majority stake in mimcoin startup Moonshot and the launch of an artificial intelligence fund, among other important developments.

The platform also announced the acquisition of a majority stake in mymcoin startup Moonshot, the launch of an artificial intelligence fund and other important developments.

Solana-based DEX aggregator Jupiter concluded the Catstanbul 2025 event with a speech by its founder Meow. At the “Catstanbul 2025” event, he excitedly announced the upcoming changes to JUP, the platform’s native management token. Mr. Nya expressed his intention to make JUP “the most GOATed token ever”

and recognized the platform’s dedicated team and community. Mr. Nha reminded the audience of the plan to burn 3 billion JUP tokens, currently valued at $3.6 billion (initiated by burning a large metal cat sculpture), to “reduce issuance, increase certainty and reduce FDV.

“We really want to connect the world. It’s not an easy task. It requires a lot of incentives, a lot of capital and a lot of funding. The goal is simple: to make JUP become that firepower.

Yi Nya made another important announcement. The platform will start using 50% of the revenue from protocol fees to redeem JUP tokens. The tokens will be stored in

long-term holding, and the remaining 50% will be used for

growth, future strategy and full operational stability. I am convinced that the value of tokens is not dependent on buybacks.

The value of a token depends on the community. Remember that all coins are meme coins.

After this announcement, the price of JUP rose about 40% from a low of about $0.90 to $1.27 before retreating slightly (from the JUP price page on The Block website).

: We don’t want to sell JUP for operational reasons,

, meow. Why? Because JUP is not for usage, it’s for alignment Selling JUP could establish a long-term partnership with a partner that really aligns with us, Meow said.

This announcement comes at a time when Jupiter has been working on artificial intelligence coins and memes on its platform. This wraps up the platform’s event, which also saw major developments in the field. The company acquired a majority stake in meme coin startup and Pump.fun competitor Moonshot, announced a new omnichannel network called Jupnet that is currently in beta testing, showcased updates to its V2 platform, and launched a $10 million fund in partnership with Eliza Labs. Zach Abrams is a writer and editor based in Brooklyn, New York, and prior to joining The Block, he was the head writer at Coinage, a large-article media outlet on Web3. His article on Do Kwong won SABEW’s Best Business Journalism 2022 award. Other projects include an in-depth investigation into the SBF defense based on exclusive documents and uncovering the identity of the hackers behind the biggest crypto hack of 2023 – so far. Contact X @zackdabrams or email zabrams@theblock.co.

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