Jupiter Exchange will burn 30% of JUP tokens over six months for better transparency.
Jupiter’s lower fees make it a strong competitor to Binance in perpetual trading.
In a tweet, SolanaFloor announced that Jupiter Exchange’s proposal to burn 30% of the JUP team tokens received overwhelming support, with 95% of the vote in favor. This huge action will see 3 billion JUP tokens, worth more than $2.37 billion, burned over a six-month period.
The primary goal of this supply reduction proposal is to provide confidence, alignment, and transparency (CAT) for all JUP token holders and the larger community.
BREAKING: @JupiterExchange’s proposal to burn 30% of the $JUP team tokens has passed with 95% of votes in favor.
(3 billion $JUP, worth over $2.37 billion, will be burned over a 6 month period) pic.twitter.com/tjOXW8TvT3
— SolanaFloor (@SolanaFloor) August 4, 2024
Jupiter Exchange Challenges Binance with Competitive Fees and Strong Market Performance
In addition to this significant
