3 Billion $JUP Tokens To Be Burned Over 6 Months
The proposal passed with an impressive 95% of votes in favor. Over the next six months, 3 billion $JUP tokens, valued at more than $2.37 billion, will be burned.
Tackling Supply Issues
The initiative to burn $JUP team tokens is designed to tackle supply issues and increase the value of the remaining tokens. By eliminating these tokens regarding the circulation, the intention is to reduce supply and potentially enhance the value of the remaining ones. With fewer $JUP tokens available, Jupiter Exchange aims to increase the scarcity of the token and thereby its value.
The $JUP team tokens, initially allocated to the team, will now be systematically burned. This action demonstrates the dedication by the project toward aligning its tokenomics with the interests of the wider community. This decision, influenced by feedback by $JUP holders, reflects a broader trend within the cryptocurrency sector and aims to improve transparency and accountability.
Key Details
The gradual nature of the burn will allow the market to adjust to the reduced supply smoothly, minimizing potential disruptions. Throughout this period, the Jupiter Exchange team will provide regular updates on the progress.
The success of the proposal, supported by 95% of the votes, highlights strong community backing for the token burn strategy and reflects the trust given by the community in Jupiter Exchange and its overall commitment to enhancing the value of $JUP.
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