Jupiter Protocol Allocates $50 Million for JUP Token Buyback to Drive Long-Term Growth
Aiming to foster long-term value for its native token, $JUP, Jupiter Protocol has made a strategic announcement: 50% of the protocol's fee income will go toward repurchasing $JUP tokens. Given the protocol's substantial revenue growth forecast for 2024, this buyback plan signals a near- and long-term commitment to improving the token's market dynamics and its standing in the Solana ecosystem. Exceptional Revenue Growth in 2024 Over the last year, Jupiter Protocol has grown tremendously, racking up $102 million in total revenue for 2024. That achievement has given it the 7th place spot among decentralized applications (DApps) on the Solana blockchain when it comes to income. Most of that revenue comes from Jupiter Perps, the protocol's perpetual futures platform, which boasts an impressive 84% market share among perpetual decentralized exchanges (PerpDEX) on Solana. One of the most striking aspects of 2024 […]