LFG: Jupiter Reveals Which Tokens It Could Launch Next on Solana

After launching a native token and an independent meme coin, Solana-based decentralized exchange (DEX) aggregator Jupiter announced Wednesday that it may launch at least three other tokens via its launchpad in the near future.

In a characteristically extensive Twitter post, Jupiter’s pseudonymous founder Meow outlined three “OG” Solana projects that seek to launch their own tokens with the aid of Jupiter’s “LFG Launchpad.” 

Those projects include Sanctum, a liquid staking service; Sharky, a platform for NFT-backed loans; and deBridge, an infrastructure provider for cross-chain digital asset trading.  

Over the next two weeks, Meow said, those three projects will introduce themselves to the Jupiter community through town hall meetings and a variety of social media outreach initiatives. At an unspecified future date, the Jupiter community will then decide—via a JUP-backed vote in the Jupiter DAO—whether to allow any of those projects to launch tokens through the LFG Launchpad.

Meow emphasized that control over this approval process will be solely in the hands of the Jupiter community, not Jupiter’s leadership or internal team. 

“It is… crucial to remember that LFG is a community initiative,” Meow wrote. “The team should play NO ROLE in deciding if a project is suitable to be launched.”

But the three projects chosen for this inaugural token launch vetting process appear to have been handpicked by Meow and the Jupiter team, not Jupiter community members.

(Video by Rug Radio Creator AshleyDCan. Disclosure: Ashley holds ETH, SOL, and JUP.)

Decrypt reached out to Meow for clarification on that matter, and as to whether the Jupiter community will be able to nominate projects for token launches in the future, but did not immediately receive a response. 

Last week, during the much-anticipated launch of the JUP token, tensions flared in the crypto industry regarding the power wielded by Jupiter’s internal team in the project’s new ecosystem. 

While JUP’s launch was in many regards a resounding success, the token’s debut was marred by criticism that its allocation structure disproportionately benefited the Jupiter team, and constituted an implicit initial token offering (ICO).

Jupiter Founder Brushes Off Airdrop Backlash: 'People Don’t Understand Anything'

Jupiter’s pseudonymous founder Meow has heard the complaints about yesterday’s massive JUP airdrop on Solana, and he insists the critics have got it all wrong. “You know what I realized, guys? How many people don’t understand anything,” Meow said today on Rug Radio’s live “FOMO Hour” about crypto influencers pushing back on the drop. “They only understand buy/sell.” Solana decentralized exchange (DEX) aggregator Jupiter launched the biggest airdrop so far in 2024 on Wednesday, serving up 1 bill...

The controversy—which was vocally dismissed by Meow—mainly centered around a 250 million JUP launch liquidity pool created by the Jupiter team, that pulled tokens from the team’s half of the total 10 billion JUP supply. 

Today, that launch liquidity pool closed right on schedule, in a process that appears to have only boosted the token. JUP touched $0.59 this morning according to CoinGecko, a 14% jump from yesterday. It has since settled down to $0.55, a 5% increase compared to a day ago.

Edited by Andrew Hayward