Jupiter’s ‘Catstanbul 2025’ Event

Solana-based DEX aggregator Jupiter concluded its inaugural ‘Catstanbul 2025’ event with a keynote by its pseudonymous founder, “Meow,” who enthusiastically shared upcoming changes to the platform’s native governance token, JUP.

Key Announcements

Meow expressed his ambition to transform JUP into the “most GOATed (greatest of all time) token,” crediting Jupiter’s committed team and community for their efforts. He reminded attendees of the planned burning of 3 billion JUP tokens, initiated by the burning of a large metal cat sculpture, currently valued at $3.6 billion, aiming to “reduce emissions, increase certainty, and reduce FDV (fully diluted valuation).”

> “We want to really connect the entire world…and it’s not going to be easy,” Meow stated. “We need a lot of incentives, we need a lot of capital, we need a lot of funds…the goal is simple, we need JUP to be that firepower.”

Meow also unveiled that the platform would allocate 50% of its protocol fee revenue to buy back JUP tokens for the “long-term litterbox,” while utilizing the remaining 50% for “growth, future strategy, and full operational stability.”

> “I strongly believe that the value of a token is not anchored in buybacks, despite what [Crypto Twitter] might tell you… the value of a token is anchored in community… remember, every coin is a memecoin,” Meow remarked.

Following the announcement, the price of JUP surged approximately 40%, rising from around $0.90 to about $1.27 before slightly retreating, as reported by The Block.

> “I don’t want to ever f—ing sell JUP for operational reasons,” Meow emphasized. “Why? Because JUP is not for expenses, JUP is for alignment.” He noted that Jupiter might sell JUP to forge long-term partnerships with aligned partners.

Additional Initiatives

The event also highlighted Jupiter’s significant developments in the AI and memecoin sectors, including:
– Acquiring a majority stake in memecoin launchpad rival Moonshot.
– Launching the new ‘Jupnet’ omnichain network currently in beta.
– Debuting a V2 upgrade for the platform.
– Introducing a $10 million AI fund in partnership with Eliza Labs.