VENGE

@Balls_Onchain 500k is very cheap too 🤫

We have a goal to meet.

@mic_on_studio Indeed it is ! Balls gonna rock this and we will remember these times :D

So, Studio is sitting on one of the most easily crimeable assets on Solana chain over half the supply essentially locked forever by a top 10 revenue generating defi platform across all of crypto. Product leads? Founders? All own 1%+ and its sitting at 180k just saying

At the start of 2025, Jupiter was Solana's largest trading venue. By the end of 2025, Jupiter became the most comprehensive onchain financial platform in all of crypto. In 12 months, we shipped 10 new product lines. Lend became the fastest-growing platform in Solana history to hit $1B in Total Supply. Perps generated over $250B in annual volume. Mobile installs grew by nearly 300%. The Developer Platform launched 7 new APIs. Across it all, Jupiter processed $1T in total volume on just a single chain. But what defined 2025 wasn't only what we shipped. It was the choices we made along the way. We burned 30% of the total JUP supply at Catstanbul. We committed 50% of our revenues towards accumulating JUP, and then actioned the DAO vote to burn the holdings. Companies across the ecosystem and across chains plugged into our world-class trading engine. Robinhood, Coinbase, Uniswap, MetaMask, and most recently SushiSwap announced an integration. Over the last year, Jupiter became the default infrastructure layer for Solana, and as an extension, for crypto itself. This full recap covers everything: a product-by-product breakdown with key numbers. Business metrics showing revenue generated across the entire product suite. The state of JUP. And a taste of what's to come. Read the full 2025 Year in Review here: jup.ag/update/2025-re… Onwards and upwards, The Jupiter Team

@mic_on_studio @jup_VRFD @JupiterExchange I've been part of Jupiter for over two years and I've seen lots of changes but I can say very clearly that this is one of the most well-deserved positions I've ever seen ! You Mic, you rock this ! Congratulations and good luck 👏

Incredibly grateful to have joined @jup_VRFD @JupiterExchange has been a major part of my life for the past 4 years, from LFG to the DAO to Studio. It’s great to finally be able to contribute directly in some way 🫶 The more time i spend with VRFD, the more i see just how much potential need it has as crypto begins to grow into the broader normiesphere, especially when it comes to API integrations with trading apps. Information is so widespread across hundred and thousands of social accounts, it’s nearly impossible for anyone new to the space to actually keep up, and incredibly time consuming for even the veterans. Being able to look at an asset and immediately have up to date news from wider industry news down the tiny tokenomics updates will be a vital part of providing traders with the best opportunities and everything they need to make informed decisions about opportunities. I think VRFD grows a LOT from here, and is another big example of a service Jupiter provides for the general good of ecosystem growth.

@jup_academy One and only right way to start Hello, world !

The beginning you were supposed to have.

Some thoughts on the latest Jupiter proposal, Jupiter's tokenomics and emissions in general. Starting in reverse order, let's break down as a matter of first principles what emissions are. I think of emissions as a tax on the existing tokenholder base via inflation. When a token is emitted to a user as rewards, a project is essentially asking all existing tokenholders to subsidize the reward to the user. Similarly, when a token is emitted to a team member or an investor, you are socializing the cost of that team member or investor on the general tokenholder base. Now it is not always unreasonable for tokenholders to bear these inflationary costs. Tokenholders economic interests are served when the demand for the token outstrips the supply and there are scenarios where introducing more tokens into the market via inflation may create net demand (e.g. team is building a better product, more people use the product, more people want the token etc). The question is who should have the right to decide whether these inflationary taxes are worth paying? In this industry, it has always been the team. The team is the ultimate arbiter of the emissions schedule, of how many tokens hit the market and under what conditions. It is set (in most cases) at the TGE, and you just have to live with it if you want to participate. If you are a libertarian, one might consider this taxation without representation. Lets revisit this shortly after we consider Jupiter's tokenomics. Now onto Jupiter's tokenomics which has been the source of great discussion amongst the tokenholder base. I cannot profess to be an expert on it given I was an ETH maxi at the time Jupiter was launched, and only got into Jupiter after @weremeow shared with me his vision of the future and Jupiter's place in it. But here is my understanding of it - a lot of which is public information that is not commonly distilled, understood and circulated. On TGE, Jupiter allocated about half of the tokens to the DAO. The DAO subsequently approved 'Jupuary' a series of airdrops to be conducted in January of each year. The intention was to 'grow the pie' and get tokens into the hands of more users. 1.7 billion has been distributed and if Jupuary goes through, an additional 700m will be distributed, through an airdrop and various other incentives this year. The other half of the tokens were allocated largely to the discretion of the team, with emissions primarily going to team members / core contributors and Mercurial investors (the predecessor project from which Jupiter was created). The headline numbers are about 39m JUP a month to 'team' and about 14.5m a month to MER. Annualized, this is about 650m tokens to team members and to MER investors over 2026. This means that the net emission over the course of 2026 (assuming max Jupuary + team / MER) is 1.35 bn tokens - about 30 percent of the circulating market cap. Include ASR (200m) and we are looking at 1.55bn tokens. In January, the @litterboxtrust repurchased 25m tokens. Annualized, this equates to about 300m tokens (obviously this will increase / decrease based on revenue and token price). Let's call a spade a spade and address it head on. Jupiter's products are best in class but its tokenomics make it incredibly difficult for investors to gain exposure to its product suite. There is no equity - so the only thing you can do is buy tokens. But the only way you can buy tokens is to stand in front of a freight train of unlocks - over a billion net tokens in 2026 - from what looks like price insensitive sellers (they sell regardless of price). Thats your airdrop farmers and most of your MER investors. Without making JUP an investable asset (and this includes both supply and demand side), JUP will only bleed out with emissions. And who pays for it? Going back to the first principles of emissions - the holders. The people with the highest conviction in Jupiter are paying for the inflationary taxes in a bleeding market environment. The team is aware. Its why we have ASR and why we continue with ASR. The inflationary taxes are being somewhat offset by the highest conviction persons staking JUP to receive some level of staking rewards. The irony of course is that we are addressing inflation via more inflation. If we keep inflating, we end up in a negative flywheel situation bc we have to airdrop more to make it meaningful, allocate more JUP to team to make incentives meaningful then allocate even more JUP to stakers to offset their inflation. So now onto the proposal that fixes the broken tokenomics once and for all. Firstly, the team is fully aware that they need to be the highest conviction holders of JUP. Repeating this for the millionth time, there is no equity outcome for Jupiter employees. The founders have sold a total of zero tokens. The OG team (the earliest members with highest allocations) have sold a total of zero tokens. But as the Jupiter team has grown, there are necessarily tokens put in the hands of less convicted individuals, stakeholders of acquired companies etc. While it is our view that our allocations to employees and other stakeholders are in the grand scheme of things net value accretive to Jupiter, we need to put our money where our mouth is, in a universe where there is generally low trust in project teams. And so Jupiter is willing to backstop it with its own balance sheet. Secondly, the team is aware that emissions, especially out of the community treasury, should be a stakers' decision because as per above, the stakers are paying for these emissions. Jupuary was a highly optimistic plan approved in very different market conditions, devised by the most optimistic visionary I know. This is where I color this with my own strong personal views. It is no secret that I think protocols and Jupiter itself should be thought of as a nation. The first Jupuary created the Jupiter Nation. A group of aligned individuals in the success of Jupiter through JUP. Yet the massive success of Jupiter (and economic value of JUP) invited immigration, as successful nations do. Immigrants who do not assimilate undoubtedly fuck with a nations culture. And the second Jupuary (the largest 'second' airdrop as a % of the first) created a wave of 'immigration' with tokens being dropped in the hands of new valuable citizens - but also a ton of mercenary farmers interested in nothing but economic value. As meow says, it fragmented the community. People started looking for scapegoats - the new entrants, the old stakers, MER investors, DAO workgroups, the team, the founders themselves etc. What was formerly a strong nation became divided by anger and hatred. And now we are on the cusp of the third. The net result is that any citizens, old or new, which I broadly define as people actually feeling some sense of loyalty to Jupiter and tying their medium-long term economic fates to Jupiter and its vision paying the price. I caveat this as my strong personal view because the team, even at the leadership level, is consistently torn between the interests of users, team and stakers. To use the analogy I used at Cat Lumpur of Jupiter as a trading port nation - the interests of the traders (people who pay fees), government (people who build the nation) and the citizens (people who pay taxes) overlap but do not always align. My view is that there is no nation without citizens, and citizens should have a say in the use of their taxes. So the way I see this vote is not us asking JUP stakers (should I emit or not emit to users) - the way I see it is 'Should we seriously rethink our fiscal policies?' If the answer is 'no' - then we will respect the mandate of the people and proceed as per status quo, where the game theory is heavily in favor of selling, with every believer feeling increasingly silly every day. Then we rebuild in 2027. if the answer is 'yes' - then lets turn JUP to net zero emissions with a view to making it deflationary, because JUP being valuable not only increases the wealth of stakers and the team, but also provides a valuable lever we can use for the future. A decision we will again make together. I am not naive, I know that if the vote passes, the most mercenary users might move to other (inferior) platforms because they have no loyalty to anything. I'd be surprised if most of the people hurling the vilest insults have not already moved to other platforms after the snapshot closed so honestly, no loss there. But who matters at the end of the day are the people who are long-term aligned with Jupiter. The tax payers. And the heaviest taxpayers have been the stakers because of the invisible inflationary tax. And so they should decide. Finally, the team and long-term holders are aligned that JUP needs to be an investable asset. This is why we are agreeing to backstop the MER stakeholders as well from our own balance sheet. No more emissions and suddenly its clear skies for the protocol token of one of the most aggressively shipping teams in all of DeFi on the most retail-friendly chain - in an era where DeFi has the chance to become the default in the coming years. This vote is only the starting point. If Option 2 passes, it fixes the supply dynamics for good. Indefinitely. But it does not yet fix the demand side. The litterbox trust is presently a stop gap in creating demand (think of it as effectively as all onchain fee-payers pay fees 50% in JUP). More work will almost certainly come here as we commit, as Kash has said, to treating JUP as a product. These are my views only and do not represent the broader views of the Jupiter team or the leadership. There is no 'party whip' on this and team members are encouraged to express their views freely given this change also affects them.

early this year, i posted a question on whether we should continue the buyback and early this week i posted an update on how the Jupuary timeline would look like. both tweets got a lot of attention. reading the comments and feedback from users has been eye-opening. now, for this proposal and option 2 (if it passes), here’s what it addresses in my mind: first, team emissions. there’s been a persistent narrative about team selling. with this vote, there’s a real path to stopping all team on-chain emissions entirely. if there is any selling, it comes from the treasury fully visible, fully on-chain. transparency over speculation. second, Mercurial stakeholder vesting. the buyout structure is designed to create a counter buy pressure against any selling, ideally creating a net neutral effect on JUP. it’s a clean solution to a structural issue. third, ASR will continue to reward stakers for staking. this will be something that will reward long-term stakers. also, with January letterbox buyback standing at almost 28m JUP (annualised 336m JUP), the buyback maybe more than the emitting staking reward, obviously, price may fluctuate and market will move. fourth, JUP token utility within products. there are things already happening across our products and there are plans to push more forward. i don’t want to guarantee a timeline but it’s actively being worked on. lastly, something personal. running a public protocol with a token creates real pressure to balance product building with token health. building great products is necessary but not sufficient, the token itself needs to be managed thoughtfully. this proposal is about resetting the fundamentals: products that users love and token economics that are clean and simple. anyway good thing about this proposal is it really resets the energy. for me, that means great products and a token structure that’s easy for anyone to understand and believe in.

@jup_academy Creation of community games✅ Initiative experience✅ Teaching purposes ✅ Community moderation ✅ Creation of engagement platform✅ I am ready to contribute to the Academy with my 2 years of experience with Jupiter Count me in and i would love to speak with someone for more 🫡

Last week at Catlumpurr 😼, we announced the upcoming release of Jupiter Academy This is a new opportunity to get into DeFi and discover all the Jupiter products through a fun and gamified experience including: ~ xp earnings ~ achievements ~ quizzes Wanna contribute? We're building Academy for and with the community, more informations soon.

@jup_dao Legendary account is back 🥳

A new DAO proposal is now LIVE! This is a crucial vote that impacts all token holders. High leverage decisions about $JUP are exactly what the DAO is built for, and so this must be decided collectively. The vote comes down to 2 options regarding the emissions schedule for 2026: Option 1: Proceed with Jupuary Jupuary will continue as planned, with the airdrop checker released ~1 week after the conclusion of the vote. In the event that option 1 passes, Jupuary emissions, Team emissions, and Mercurial emissions will proceed as per their regular vesting schedules. Option 2: Pause Emissions - Jupuary will be postponed, with tokens returned to the Community Cold Multisig - Tokens will not be emitted from the team reserve for the foreseeable future, and Jupiter will absorb any team token sales - Mercurial stakeholders will be airdropped their remaining tokens and an equivalent number will be purchased by Jupiter The vote begins on Tuesday the 17th @ 11am UTC and will run to Saturday to give people enough time to consider each option. You can read the full proposal and contribute your feedback here: discuss.jup.ag/t/draft-propos… PS: Stakers will be eligible for ASR regardless of their participation in this vote.

New DAO Proposal: Bring Net Emissions To Zero (Jupiter Goes Green) Today, we shared one of the most important @jup_dao proposals so far. The objective: take $JUP net emissions to effectively zero. To be clear, we are not unilaterally deciding on this plan. This is exactly the kind of high-leverage decision that affects all token holders, and as such ought to go to a DAO vote. If the vote doesn’t pass, we will continue with Jupuary. The airdrop checker will be released ~Feb 28th and the actual airdrop will take place on ~March 7th. But if this vote passes, it will address a key point of concern from token holders, build a powerful narrative, and demonstrate a ridiculously high level of conviction in the long-term importance of $JUP. The proposal itself is live right now on the Jupiter Research Forums (discuss dot jup dot ag). We welcome comments over the coming 4 days. The vote will begin on Tuesday and go through Saturday (5 total days). Excited to see what folks think - I’m sure there will be many opinions, and me and the rest of the team will try to respond as much as possible.

@wassielawyer This post means a lot, thanks Wassielawyer 👏

Shitposting aside, some real talk. When I joined Jupiter - I bought about 1.2 million tokens. Like open market buy with my own money, spending about USD 700k which is a not insubstantial portion of my networth. So when price down I feel it too. I think to date I'm down about USD 500k. Been asked why, esp since I would receive JUP as part of my comp package (literally zero vested so far and none vesting in the near term). Well the short answer is mainly that I'm retarded. But the longer answer is that if I am not willing to buy the token of the project I'm about to spend significant amounts of time working with, how can I expect others to do the same? Without being sanctimonious to other team members or anyone working for token-based comp, it is far easier when your skin-in-the-game has zero dollar cost basis (apart from your time). So I put my money where my mouth is. I'm fairly comfortable holding and shitposting because I know that the founders, for all their autism and lack of PR training, have their hearts in the right places (they have literally never cashed out via selling tokens, salary or bonuses) and they are fully aligned with the view that as founders, they are the last ones out. All that to say, yeah you can be angry or upset about the token price being down or whatever. That's cool. I'd much prefer to be half a mil richer too (ideally a lot more). But there is literally nobody more aligned in fixing the JUP token price than the founders and the leadership team.

@alexmccurryo @Balls_Onchain @0xanmol @SushiSwap @JupiterExchange @solana Balls community is real

@Balls_Onchain @0xanmol @SushiSwap @JupiterExchange @solana If balls community cooks on this tweet I'll buy it on Sushi.com when we go live

Excited to announce that @SushiSwap is partnering with @JupiterExchange on our @Solana launch happening in 2 days. One step closer to building the ultimate multichain trading app. Solana trading + cross-chain swaps for Sol-> EVM goes live Feb 9. Sushi will win.🍣

@DK3443_ @coinkritik Neyi aradığınıza bağlı. Ultra mod hacminizi mobil'de trade bölümünde sol üstte "fees saved" yazan yere tıklayarak görebilirsiniz Trading card etkinliğinde ise hacminiz görünmez sadece ilerleme durumunuz ve hakettiğiniz kart sayısı görünür, eligible coin tablosuna dikkat ediniz

@coinkritik Hocam ben hacim yapiyorum ama hicbir sey gorunmuyor ne yaptigim hacim ne odul vs jup mobile ilk basta kendi phantom cuzdanimi import etmistim ondan dolayi mi acaba ?

Son 13 Saat #Jupiter'de swap yapanlara dağıtılan 1. sezon ödülleri için son 13 saat 2. sezon başladı 31 mart'a kadar devam edecek. Jupiter'de swap yaptıysanız önce linkten girin linkle girenler %10 bonus veriyor o yüzden linke girin 👇 jup.ag/?ref=tfodnitn9… Sonra görseldeki sayfaya ulaşmak için Rewards kısmına tıklayın burada 3 ödül var baştakı ASR ödülleri $JUP staker'ları için ortadaki sezon 2 sondaki sezon 1 swap ödülleri daha önce swap yaptıysanız açmadığınız kartlar olabilir burada. 👇 jup.ag/rewards

@bilecikli_soll @FabianoSolana If it is not majorly sol, lst or stable swap i think the real paid amount can be around 9-10k $, not 900. But lets wait for checker and see what it is

@FabianoSolana I have 9M $ swap volume. I paid 900$ fee 😂

I will get ~13,800 $JUP (≈ $2,800) If I stake it for a full year I’ll receive 2x the amount in 2027 With JUP being down bad this is actually not too stupid: - If $JUP at $0.20 → $5,600 - If $JUP at $0.50 → $13,800 - If $JUP at $0.75 → $20,700 - If $JUP at $1.00 → $27,600

ballers follow ballers show your $balls in the replies

@vengemod your balls look good 😏

With 3 days until migration, some important reminders: • If you are providing LP to $kirby, remove your pools on the 20th January • If you have open limit orders on $kirby, remove them on the 20th January As long as your $kirby is in your wallet, you’re set (🥎,🥎)

@JUPANDJUICE @0xanmol Wishing the best of luck and success

THE “SCREW” MINDSET: HOW A “CAREFREE KID” BUILT HIS WAY INTO JUPITER @0xanmol went from flipping custom tees in school to running a dev shop at 17, to shipping Jupiter’s developer platform. time stamps : 00:00 The Intro 00:45 Who is Anmol really 03:37 That moment it’s clicked (hustle) 05:30 Biggest early challenge 06:15 Fake it till you make it 08:32 Advice to younger builders 10:00 Getting hired at Jupiter 11:20 Being ignored doesn’t matter 15:15 Developer platform 17:20 DEV stereotype 19:20 what’s vibe code mean to you 21:00 Anmols position on AI coding 26:14 good dev / great engineer 29:15 3 reasons to build with Jupiter DP 31:55 Jupiter’s infrastructure mindset 35:06 Communication lessons APIs 38:50 Catlumpur CTA: “hit me up 24/7” 40:44 Mission: make Jupiter the most 42:35 Closing vibes and final reflections