Solana-based DeFi super-app Jupiter plans to end JUP token buyback.
In a social media post on January 2, Siong Ong, co-founder and CTO of Jupiter, said they did not see much impact from the program and considered it a “waste” of resources.
“We spent over $70 million on buybacks last year, and the price obviously hasn’t changed much. We can use that $70 million to provide growth incentives to existing and new users.”
Ong was following in the footsteps of Helium founder Amir Haleem, who said they would “stop wasting money on HNT buybacks” because the market is not concerned about the effort.
JUP Community Division
Jupiter launched JUP’s buyback program in mid-February 2025 and reportedly spent approximately $70 million. Additionally, Jupiter (JUP) rallied around 300% in the first month after the buyback was launched.
However, the token recorded new yearly lows in 2025, despite aggressive buybacks that were previously considered bullish. At press time, it was trading at $0.2, down from its high of $1.8 – an 88% price collapse.
Source: JUP/USDT, TradingView
However, the community was divided on whether to abandon the buyout program. A user propose share revenue with stakers to increase staking yield and increase price.
“With 753 million JUP staked, that’s almost $0.09 per JUP. For me personally, this would make for a very attractive passive income. This represents a dividend yield of 43%. Of course, the price would increase with such news.”
But Ong wondered how the product would grow if everything was allocated to staking rewards.
For his part, analyst Fabiano said that there is currently no reason to hold the token as it is not linked to the success of the protocol (not equity).
According to him, a short term solution would share its revenues with shareholders to reduce their quarterly dumping pressure.
“What if we redirected that $10 million into staking rewards, instead of buying JUP for the litter box? At current prices, that could result in around 25% APY? – which is incredibly attractive.”
Source:
What’s next for JUP?
Other critics pointed to Pump.fun’s (PUMP) moderate performance despite a massive buyback, adding that not all protocols should follow the trend.
However, repurchase programs have been successful for Hyperliquid (HYPE) and Aave (AAVE), particularly during periods of positive market sentiment.
At the time of writing, it was unclear which proposal and direction the team would focus on following several comments on the proposal.
Jupiter has evolved from a DEX aggregator to a super-app covering lending, prediction markets, and even perpetual trading. The ongoing development also helped increase cumulative revenue to $369 million.
Source: DeFiLlama
Final Thoughts
- The Jupiter team appeared disappointed with the limited impact of its buyout program despite a $70 million commitment.
- But the community was divided on the plan to stop the token buyback program.
