Jupiter, a decentralized exchange (DEX) aggregator on Solana, concluded its first event, ‘Catstanbul 2025,’ with a keynote from its founder, known as ‘Meow.’ He shared exciting updates about the platform’s governance token, JUP, which saw a price increase of 10.86%.
Meow expressed his ambition to make JUP the “most GOATed” token, highlighting the commitment of the team and community. He announced a significant plan to burn 3 billion JUP tokens, valued at $3.6 billion, to reduce emissions and enhance token stability. This burning will be symbolically initiated by a large metal cat sculpture.
Meow emphasized the need for global connectivity and the resources required to achieve this goal. He stated that JUP should serve as the driving force behind these efforts. Additionally, he revealed that 50% of the platform’s protocol fee revenue would be used to buy back JUP tokens for long-term holding, while the other half would support growth and operational stability.
He stressed that the value of a token is rooted in its community rather than buybacks, stating, “every coin is a memecoin.” Following these announcements, JUP’s price surged from around $0.90 to approximately $1.27 before slightly declining.
Meow also clarified that he does not intend to sell JUP for operational costs, as it is meant for alignment with partners. However, he mentioned that selling JUP might occur to form long-term partnerships with aligned entities.
The event also highlighted Jupiter’s advancements in the AI and memecoin sectors. The platform acquired a majority stake in Moonshot, a competitor in the memecoin launchpad space, introduced a new omnichain network called ‘Jupnet’ in beta, launched a V2 upgrade, and initiated a $10 million AI fund.
