Cryptocurrency exchange OKX announced that it will list the Zeus Network (ZEUS) token and open the ZEUS/USDT trading pair. This marks the first project of Jupiter LFG Launchpad.
Jupiter, a decentralized exchange (DEX) aggregator on the Solana blockchain, came to the fore with the JUP airdrop it recently organized.
Unlike centralized cryptocurrency exchanges' selection of Launchpad projects, which are controlled by the exchange, JUP determines new Launchpad projects in a decentralized manner, with the votes of its owners.
However, the launch of the JUP token has been mired in controversy, particularly regarding the use of the token launch pool. One major issue raised by observers centers around the Jupiter team's method of launching JUP on the open market, which they see as a capital raising strategy. According to critics, this detail was not clearly communicated to participants, leading to debate about the level of transparency and the extent to which buyers made informed decisions.
ZEUS, which is also listed on Kucoin, is trading at $0.85 at the time of writing and has a market value of approximately $140 million. The price of the altcoin climbed to $0.95 after it started trading today.
*This is not investment advice.