Looks like there is some good news for Jupiter. The plan to buy back some tokens and some burning as well, so this strategy still works and despite the market have been so bloody today, it still made some good rise.
- Jupiter plans to burn 3 billion tokens, boosting scarcity and reducing its fully diluted valuation.
- Half of Jupiter’s protocol fee revenue will fund token buybacks, stabilizing its value long term.
- Rising open interest and a positive funding rate signal heightened bullish momentum for JUP.
It's already burned. I wonder whether this is the biggest burning ever. It's worth 3,6 billion $ burned. The price is getting appreciated a bit, but not as significant as people predicted it.
I rarely saw a developer who burned more than 3 billions worth of money. It shows how trusted they are. I remember they're also allocating 50% of fees generated by the jupiter dex to buy back its token. It's such a massive movement.