Solana DEX Aggregator Jupiter Identifies Potential Tokens for Launchpad
Solana decentralized exchange (DEX) aggregator Jupiter has selected three original Solana projects as potential candidates for its LFG launchpad. The projects include liquid staking service Sanctum, NFT collateralization platform Sharky, and cross-chain interoperability protocol deBridge. Jupiter recently launched its native governance token, JUP, and airdropped it to nearly one million Solana wallets. However, the final decision on which tokens will be launched on the LFG platform will be determined by a community governance vote.
Jupiter Prepares for Jupiter DAO
In addition to identifying potential launchpad projects, Jupiter plans to initiate the Jupiter DAO this month. The DAO will focus on evaluating and approving launchpad projects, granting funds, and supporting community initiatives. All fees earned from the JUP token launch will be allocated to governance participants as incentives over the first year.
Closing the Jupiter Token Launch Pool
After facing controversy regarding its token launch pool, Jupiter has decided to close it as planned. The pool allowed airdrop recipients and early buyers to sell their tokens but hindered price discovery. With the closure of the pool, JUP is expected to regain price discovery. Currently, JUP is trading at $0.54 according to The Block’s data dashboard.
Hot Take: Solana DEX Aggregator Jupiter Aims for Community-Driven Launchpad
Jupiter’s LFG launchpad aims to empower the Solana community by allowing them to decide which tokens are suitable for launch. By identifying potential projects and initiating the Jupiter DAO, Jupiter is fostering decentralized governance and incentivizing community participation. Although controversies surrounding its token launch pool arose, Jupiter took steps to address concerns and ensure transparency. With the closure of the pool, JUP can now focus on price discovery and further development within the Solana ecosystem.
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