Overview
- Co-founder Siong said Jupiter spent more than $70 million on JUP repurchases over the past year with little price impact and asked the community whether to halt the program.
- The team is considering reallocating funds to user rewards, product development, and activity-based incentives instead of continued buybacks.
- Jupiter cut its planned airdrop from 700 million to 200 million JUP, with 175 million for active users and 25 million for stakers, plus additional reserved and locked pools to limit near-term selling.
- JUP trades around $0.205, roughly 89% below its $1.83 all-time high, despite prior commitments to direct about half of protocol fees into three-year-locked buybacks.
- Debate within the Solana community remains unresolved before the January 30 snapshot, with Helium founder Amir Haleem publicly supporting a pivot toward growth over buybacks.