Solana-based decentralized exchange (DEX) aggregator Jupiter (JUP) is up 40% following a major announcement from pseudonymous founder Meow at the platform’s launch event “Catstanbul 2025.”
Jupiter (JUP) Soars 40% After Founder Announces 50% Fee Rollback
In his keynote, Meow declared his ambition to make JUP the “most GOATed” token and reaffirmed a previously announced plan to burn 3 billion JUP tokens, currently worth $3.6 billion.
The symbolic token burn was initiated by burning a large metal cat statue, reinforcing the platform’s goal of reducing emissions, increasing certainty, and lowering fully diluted valuation (FDV).
Alongside the burn, Meow announced that 50% of all protocol fee revenues will now be used to buy back JUP tokens, which will be held in a “long-term bin” reserve. The remaining 50% of fees will be allocated for “growth, future strategy, and operational stability.”
“I firmly believe that the value of a token is not dependent on buybacks,” Meow said, contradicting the common narrative in crypto investing. “The value of a token is dependent on the community… every coin is a memecoin.”
This announcement triggered an immediate market reaction, sending the price of JUP from $0.90 to $1.27 before pulling back slightly.
Jupiter Expands AI and Memecoin Investments
Beyond the buyback plan, Jupiter announced a number of significant ecosystem developments, including:
- Acquiring a majority stake in Moonshot, a memecoin launchpad that rivals Pump.fun.
- Introducing Jupnet, an omnichain network currently in beta testing.
- The release of Jupiter V2, an upgrade to the platform's DEX aggregation services.
- Launching a $10 million AI fund in collaboration with Eliza Labs.
*This is not investment advice.
