After successfully launching a native token and an independent meme coin, the Solana-based decentralized exchange (DEX) aggregator, Jupiter, has unveiled plans to launch at least three more tokens via its launchpad in the near future. The three upcoming 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.
Meow, the pseudonymous founder of Jupiter, took to Twitter to announce these developments and outlined how these projects will introduce themselves to the Jupiter community through town hall meetings and social media initiatives over the next two weeks. The Jupiter community will then decide, through a JUP-backed vote in the Jupiter DAO, whether to allow these projects to launch tokens through the LFG Launchpad at a later date.
It is important to note that the approval process for the token launches will be controlled solely by the Jupiter community, and not by Jupiter’s leadership or internal team. Meow emphasized the community-led nature of the initiative, stating that the team should play no role in deciding the suitability of a project for launch.
However, it’s worth noting that the three projects chosen for this initial token launch vetting process appear to have been selected by Meow and the Jupiter team, rather than Jupiter community members. Decrypt reached out to Meow for clarification on this matter and whether the Jupiter community will be able to nominate projects for future token launches, but did not receive a response immediately.
This announcement comes in the wake of the release of the JUP token, which faced criticism regarding its allocation structure and implications of an initial token offering (ICO). Despite this, the launch liquidity pool for JUP closed as scheduled, leading to a 14% increase in the token’s value, settling at $0.55.
These developments reflect Jupiter’s commitment to community involvement and ongoing efforts to expand its ecosystem through innovative projects and offerings. Such initiatives are indicative of the evolving and dynamic nature of the crypto and NFT industry, providing unique opportunities for participation and investment.
