Jupiter Labs to Burn 30% of Its JUP Tokens Worth $3B at Its Catstanbul 2025 Conference
- Linda HamiltonOriginal
- 2024-11-09 06:58:23992browse
The beginning of Jupiter's three billion token burn worth over $3 billion at current prices is set to occur on the second day of Jupiter's conference in Istanbul
Decentralized exchange aggregator Jupiter is set to begin burning 30% of its total cryptocurrency supply, a move that will remove three billion JUP tokens from circulation.
The burning ceremony, which will be a part of Jupiter's first conference, is set to take place on Jan. 26 in Istanbul, Turkey. The conference, titled "Catstanbul 2025," will be the first event for Jupiter, which is the third-largest DeFi protocol on Solana by total value locked at nearly $1.8 billion.
“We’re [going to] have a ceremony to burn 30% of the tokens,” Jupiter co-founder Meow said before breaking out in laughter in a streaming broadcast called “J.U.P. Rally” on X. “We’re [going to] try to get a giant birdie cat, light it on fire as we all dance and chant around it,” Kash Dhanda, lead of the Uplink Working Group, said.
The burning ceremony will occur on the second day of Catstanbul, tentatively set for Jan. 26 as the team is still finalizing venues.
The burning of three billion JUP tokens, which will be worth over $3 billion at current prices, is set to begin on the second day of Jupiter's conference in Istanbul. The conference is tentatively scheduled for Jan. 25-26.
On Friday, Jupiter co-founder Meow and Uplink Working Group lead Kash Dhanda announced “Catstanbul 2025,” the first conference for Jupiter, the decentralized exchange aggregator that is the third-largest DeFi protocol on Solana by total value locked of nearly $1.8 billion.
“We’re [going to] have a ceremony to burn 30% of the tokens,” Meow said before breaking out in laughter in a streaming broadcast called “J.U.P. Rally” on X. “We’re [going to] try to get a giant birdie cat, light it on fire as we all dance and chant around it,” Dhanda said. The burning ceremony will occur on the second day of Catstanbul, tentatively set for Jan. 26 as the team is still finalizing venues.
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