Solana-based DEX Jupiter burns 3 billion JUP native tokens worth $3,6 billion

What’s new? The team of the decentralized exchange (DEX) aggregator Jupiter on the Solana network announced on January 26 during the Catstanbul 2025 in-person conference that 50% of the protocol’s commission revenue will be used to buy back JUP native tokens. Against this backdrop, the asset’s exchange rate jumped by 40% and reached its highest since December 9 at $1,26, before falling to $1,06 at the time of writing amid a general market correction.

Source: X.com

What else is known? On the same day, developers conducted a burn of 3 billion JUP worth $3,6 billion (at the time).

Source: X.com

Cryptocurrency burning is the process of removing a certain number of tokens from circulation, after which they become permanently inaccessible. Often burning is carried out in order to increase the rate of an asset or prevent it from inflation. Burning can be done by sending tokens to a wallet without a private key, by conducting a hard fork, using special software or algorithms that destroy part of the transaction fees.

A day earlier at the same conference, the team announced the launch of the Jupnet omnichain network. It is currently in the early stages of testing, and the first public beta will be released “in the next couple of months.”

According to the developers, Jupnet is designed to unify all cryptocurrencies into one decentralized registry for maximum ease of use by users and developers.

The goal of Jupnet is to launch decentralized and independent validators that would create a single source of validity for multiple blockchains at once but could also perform transactions on separate networks.

Source: X.com

In addition, the Jupiter team announced the purchase of a majority stake in meme token launchpad Moonshot (a Pump.fun competitor) and portfolio tracker SonarWatch. Transaction amounts were not disclosed. SonarWatch’s on-chain analytics tools are already built into the web version of Jupiter and will soon be available in the mobile app.

Source: X.com

Source: X.com

In addition to this, the company plans to launch a product that will allow users to make deposits in Jupiter Liquidity Providers (JLP) tokens and borrow in USDC stablecoins from Circle. According to the developers, this will increase returns for JLP holders.

Source: X.com

Earlier, Jupiter distributed $600 million worth of JUP tokens to users as part of the second season of airdrop.