Solana-based DEX Jupiter Plans to Launch More Tokens on Its Launchpad
After successfully launching its native token and a meme coin, decentralized exchange aggregator Jupiter has announced plans to release at least three more tokens through its launchpad. The founder of Jupiter, known as Meow, revealed the three “OG” Solana projects that will potentially launch their own tokens with the help of Jupiter’s LFG Launchpad. These projects include Sanctum, a liquid staking service; Sharky, a platform for NFT-backed loans; and deBridge, an infrastructure provider for cross-chain digital asset trading.
Over the next two weeks, the projects will introduce themselves to the Jupiter community through town hall meetings and social media outreach. The Jupiter community will then decide via a JUP-backed vote in the Jupiter DAO whether to allow these projects to launch tokens through the LFG Launchpad.
Jupiter Community Empowered to Approve Token Launches
Jupiter’s founder Meow emphasized that the approval process for these token launches will be in the hands of the Jupiter community, not the internal team. Meow stated that the team should not have any role in deciding if a project is suitable for launch. However, it is worth noting that Meow and the Jupiter team selected these three projects for the initial token launch vetting process, rather than allowing nominations from community members.
Controversy Surrounding JUP Token Allocation
Last week, during the launch of the JUP token, concerns arose regarding the power held by Jupiter’s internal team in the project’s ecosystem. Critics argued that the allocation structure disproportionately benefited the team and resembled an implicit ICO. Despite this controversy, JUP’s launch liquidity pool closed as scheduled and saw a positive impact on the token’s price. JUP reached $0.59 this morning, a 14% increase from the previous day.
Hot Take: Jupiter Expands Token Offerings, Empowering Its Community
Jupiter’s announcement of launching additional tokens through its launchpad demonstrates the platform’s commitment to expanding its ecosystem and empowering its community. By allowing the community to decide on token launches through a voting mechanism, Jupiter aims to ensure transparency and decentralization. However, concerns regarding the initial token allocation structure highlight the need for further scrutiny and fairness in future launches. As Jupiter continues to evolve, it will be interesting to see how the community’s influence shapes the platform’s growth and governance.
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