Jupiter reveals a major token burn strategy and new features to improve user experience on its platform.
Token Burn to Increase Value
Jupiter's founder, Meow, has announced a $3 billion token burn, reducing the total supply of $JUP from 10 billion to 7 billion tokens. This decision is part of a strategy to increase the token's value and enhance its market position. Meow also shared that 50% of the platform's fees will be used to buy back $JUP tokens.
New Features and Platform Enhancements
Jupiter is focused on improving user experience with new features such as Ultra Mode, Organic Scoring, Jupiter Shield, and RTSE. These updates will make the platform more user-friendly and cost-efficient. Ultra Mode offers real-time slippage estimation, and Organic Scoring provides accurate token ratings. Initially available on the web, these features will soon be integrated into the mobile platform.
Expansion through Acquisitions and Partnerships
Jupiter recently acquired Sonar Watch, allowing users to track their portfolios directly on the platform. Additionally, Jupiter is developing Jupnet, an omnichain network aimed at providing seamless access to all cryptocurrencies from a single account. This initiative could strengthen Jupiter's position in the DeFi sector.
Jupiter's focus on strengthening tokenomics and enhancing user experience, along with active expansion through new technologies and partnerships, underscores its ambitious strategy in the DeFi space.
