Jupiter Co-Founder Questions Continuing $70M+ JUP Buyback Program
Jupiter co-founder Siong Ong has publicly questioned whether the Solana DEX should keep running its JUP token buyback program after spending in excess of $70 million with minimal effect on the token’s market price. Ong’s remarks signal a reassessment of whether continued buybacks are an effective use of treasury capital, particularly when they fail to substantially reduce sell pressure or improve liquidity.
A pause or end to the program would reshape how Jupiter allocates funds: it could free resources for product development, liquidity incentives, or ecosystem grants, but it might also remove an explicit price-support mechanism and weigh on short-term sentiment. Token holders and governance participants will be watching for a clear alternative plan, since the decision will affect confidence in Jupiter’s tokenomics and the DEX’s long-term growth strategy.