Studying Time: 2 minutes
- Jupiter’s founder Meow has criticized crypto influencers, claiming they most efficient care about “aquire/promote” dynamics
- Amid criticism over the JUP airdrop, Meow insisted that his critics misunderstand his intentions
- Meow known as the criticism “FUD” and said other folks might maybe well well continuously promote up within the occasion that they weren’t contented
Jupiter’s pseudonymous founder Meow has criticized crypto influencers, announcing that they “most efficient realize aquire/promote.” Meow has attracted a stunning amount of criticism in fresh days over the actions of the Jupiter crew for the period of the hugely standard JUP airdrop on Solana, and has insisted that his critics catch misunderstood his intentions. Speaking on Rug Radio’s “FOMO Hour” reside tell, Meow complained that a broad many folks within the home “don’t realize anything” and labeled the criticism as “FUD.”
Jupiter Making Headlines
Jupiter, a decentralized substitute aggregator on Solana, made headlines this week by launching a truly mighty airdrop of 2024, distributing a staggering 1 billion JUP tokens, valued at over $700 million at its top. With regards to half a million wallets claimed their part, and the value of the token hasty rocketed to $2 on exchanges.
However, the airdrop stirred controversy as critics, including those prominent within the crypto home, characterised it as a veiled preliminary coin offering (ICO), a perception which stemmed from the establishment of a 250 million JUP initiate liquidity pool by Jupiter’s founders, funded with tokens extracted from the crew’s part of the 10 billion JUP supply.
Meow responded to the criticism by calling it mere “FUD”, emphasizing the motive of the initiate pool and the fate of the tokens post-pool closure; per Meow, the 250 million JUP within the initiate liquidity pool might maybe well well be open for trading for seven days, after which the tokens (JUP and USDC) might maybe well well be either returned to the crew’s treasury or utilized to bolster varied liquidity swimming pools.
The founder also emphasised that every and every particular person relevant data used to be accessible to doable investors sooner than the initiate, urging them to learn and understand it beforehand, complaining that every and every particular person anybody used to be attracted to used to be making a transient profit. Clearly, he hasn’t been spherical for long.
Don’t Esteem It? Then Promote
Defending Jupiter’s capacity, Meow also explained that the initiate liquidity pool, combined with the wide airdrop, aimed to benefit JUP holders; if the crew demonstrated the token’s value, and the pool’s tokens liked over the seven-day period, this might maybe tell a stunning consequence.
Meow used to be also blunt in his assessment of the alternate choices open to critics:
Hate all you need to catch for six days. You might maybe well well also continuously promote at this designate, with out reference to how [big of a] dump it is. There’s continuously this pool willing so that you can dump into actual now.
JUP is right now valued at $0.6 per CoinGecko.
