๐ช Jupiter (JUP) changes its tokenomics and attracts institutional investment
The community of the Jupiter project, one of the main DEX aggregators in the Solana ecosystem, recently approved an important proposal to change the economics of the JUP token. The vote had more than 75% support and aims to reduce net token emissions to zero to avoid inflation and selling pressure in the market.
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๐ The most important news
New net releases of JUP are suspended, which could reduce the circulating supply.
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The "Jupuary" airdrop of up to 700 million tokens has been postponed indefinitely and those tokens have returned to the community treasury.
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The project also received a strategic investment of 35 million dollars from ParaFi Capital, showing institutional interest.
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The goal is to stabilize the price and create token scarcity in the long term.
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๐ Current price situation
Currently, JUP is around $0.16, with the market somewhat weak and short-term downward pressure, although the expected range in the coming days would be between $0.148 and $0.176.
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๐ก What it means for investors:
If the token issuance is really reduced and the use of the Jupiter exchange in Solana increases, the lower supply could benefit the price in the long term.