At the Catstanbul conference, Jupiter's founder, Meow, announced plans for a $3 billion token burn, reducing the total supply of $JUP from 10 billion to 7 billion.
Token Burn and Buyback
This decision is part of a strategy to boost the value of $JUP and strengthen its market position. Besides the token burn, Meow shared that 50% of platform fees will be used to buy back $JUP tokens. This move aims to enhance token value for holders and demonstrate Jupiter's commitment to maintaining its circulation.
New Features
The platform is undergoing significant updates to improve user experience. Meow mentioned new features that will soon be available on both web and mobile platforms, including Ultra Mode, Organic Scoring, Jupiter Shield, and RTSE, making the platform more user-friendly and cost-effective.
Expansion and Partnerships
Jupiter recently acquired Sonar Watch, an on-chain portfolio tracker, and integrated it into the Jupiter protocol. The platform is also launching Jupnet, an omnichain network designed to aggregate all cryptocurrencies into a single decentralized ledger.
Jupiter aims to strengthen its position in the DeFi market through token burning, feature enhancements, and new acquisitions. These moves underline the platform's commitment to improving services and expanding capabilities.
