Jupiter (JUP) announced a new buyback policy that will kick off on Monday, dedicating 50% of protocol fees to purchasing and locking JUP tokens for a period of three years. The exchange also plans to launch a dashboard next week and provide transparency into buyback activities.
The initiative aims to reduce the circulating supply of JUP tokens, with all purchased tokens being locked for three years.
Jupiter said in a statement on the subject: “Everything will be transparent, the dashboard is coming next week. Here is the harmony.”
The buyback policy was discussed at the recent Catbedsault Conference, where Jupiter outlined various platform developments and acquisition plans within the Solana ecosystem. This latest buyback follows a similar initiative in January, where Jupiter allocated 50% of its protocol fees to buyback and burn JUP tokens. This effort resulted in a 60% increase in the value of JUP, demonstrating the potential impact of strategic token buybacks on market dynamics. However, it remains unclear whether a similar impact will occur this time around.
*This is not investment advice.
