Jupiter Exchange, a major Solana-based DEX aggregator, is rethinking its JUP token buyback plan after spending over $70 million with little effect on price, as JUP still trades 89% below its all-time high.
At the same time, the platform has reduced its JUP airdrop from $700 million to $200 million to ease pressure.
Jupiter Exchange Plan To End JUP Buyback
In a recent post, Siong, a core member of the Jupiter Exchange team, asked the community if stopping the JUP buyback could be better for the project. He shared that Jupiter spent over $70 million on buybacks last year, but the token price barely moved.
This raised a simple question, instead of buying tokens, should the money be used to build and grow the platform?
Siong says that the JUP team suggested using the funds for user rewards, new features, and better incentives.
Joining the discussion on X, Amir Haleem, founder of Helium (HNT), responded with his experience. According to Haleem, markets no longer reward token buybacks as they once did.
He said that Helium and Helium Mobile generated $3.4 million in revenue in October alone, and the team has decided to use that money to grow real users, expand its network, and build partnerships, rather than buying tokens.
JUP Buybacks Show Limited Price Impact
Earlier reports and governance talks show that Jupiter spent a large share of its revenue on JUP buybacks over the past year. The exchange had promised to use 50% of its protocol fees to buy back JUP and lock the tokens for three years to reduce supply and support long-term value.
Despite these efforts, the JUP token price is still down about 89% from its all-time high of $1.83.
The token is now trading near $0.205, close to multi-month lows, and has underperformed many other Solana-based tokens, even though Jupiter’s platform continues to grow strongly.
JUP Airdrop Size Reduced to Cut Selling Pressure
Along with the buyback talk, Jupiter also shared big changes to its JUP airdrop. The total airdrop has been cut from 700 million JUP to 200 million JUP. This move aims to reduce selling pressure once tokens are distributed.
Out of these, 175 million JUP will go to active community users, while 25 million JUP are set aside for people who stake JUP.
In addition, 200 million JUP are reserved only for stakers. Another 300 million JUP will stay locked to support JupNet’s long-term growth, and 300 million more will be used for ecosystem rewards, with no near-term selling.
The final snapshot for the airdrop is set for January 30, 2026, with $0.20 marked as the last entry price.
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