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LFG: Jupiter Indicates Which Tokens on Solana It May Launch Next

KryptoLenz - Kaeshi
KryptoLenz - Kaeshi

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For the cat lovers 💕!!

Jupiter, a Solana-based decentralized exchange (DEX) aggregator, revealed on Wednesday that it would soon provide at least three more tokens through its launchpad, following the introduction of a native token and a stand-alone meme currency.

Jupiter's founder, Meow, went over three "OG" Solana projects that want to use Jupiter's "LFG Launchpad" to launch their own tokens in a very long tweet.

These initiatives include the NFT-backed loan platform Sharky, the liquid staking service Sanctum, and the cross-chain digital asset trading infrastructure provider deBridge.

Meow stated,

That those three projects will present themselves to the Jupiter community over the course of the following two weeks through town hall meetings and various social media outreach programs. The Jupiter community will then determine, by a vote supported by JUP in the Jupiter DAO, whether to permit any of those projects to launch tokens through the LFG Launchpad at a later date.

Meow highlighted that the Jupiter community, not the organization's leadership or internal team, will have complete authority over this approval process.

Meow remarked, "It is imperative to keep in mind that LFG is a community initiative." "The team should not be involved in determining whether a project is ready for launch."

However, Meow and the Jupiter team seem to have personally selected the three projects for this first token launch screening procedure rather than members of the Jupiter community.

Meow was contacted by Decrypt to inquire about this issue and whether the Jupiter community would be able to submit projects for token launches in the future. However, Meow did not respond right away.

Tensions in the cryptocurrency community erupted last week during the eagerly awaited introduction of the JUP coin, with regards to the authority Jupiter's internal staff possesses within the project's new environment.

Even while JUP's launch was a huge success overall, there were concerns raised at the time about the token's allocation structure, which some claimed unfairly favored the Jupiter team and amounted to an implied initial token offering (ICO).

The Jupiter team's creation of a 250 million JUP launch liquidity pool, which took tokens from the team's half of the 10 billion JUP total supply, was the main focus of the debate, which Meow loudly ignored.

That launch liquidity pool closed today exactly on time, and it seems that this has only strengthened the token. According to CoinGecko, JUP reached $0.59 this morning, a 14% increase from yesterday. Since then, it has leveled off at $0.55, up 5% from the previous day.

I meow you to the moon & back.


KryptoLenz - Kaeshi

Passionate about the transformative potential of blockchain technology and cryptocurrencies, KryptoLenz is a dedicated content creator specializing in simplifying complex concepts in the crypto space.