Jupiter and Helium Review Token Buyback Policies, Focusing on Growth

Recently, Jupiter's co-founder, known as @sssionggg, reached out to the community with a proposal to suspend JUP token buybacks. According to him, over $70 million was spent on this last year, but the coin's price has barely changed. Instead, these funds could be redirected toward incentives for the growth of existing and new users.

"What do you think if we stop the JUP buyback? We spent >$70M on buybacks last year, and the price obviously hasn't budged. We could use that $70M for growth incentives for existing and new users. Should we?", he wrote in his post on X.

This statement emerged amid a similar decision from Helium's founder, Amir Haleem (@amirhaleem). He announced the halt of HNT token buybacks due to the market's weak response.

"The market doesn't seem to value projects buying back their tokens off the market so we're going to stop spending money for now under current conditions," Haleem noted.

According to his data, Helium and Helium Mobile generated $3.4 million in October alone, and these funds are better allocated to business growth, including increasing Helium Mobile subscribers, expanding the Helium network, and utilizing carrier offload. Meanwhile, data credits burning for carrier offload will continue as usual.

These announcements reflect a broader trend in the crypto industry, where projects are increasingly shifting from financial manipulations to genuine ecosystem growth. Jupiter's co-founder even referenced Haleem's post, thanking him for taking the "first step."

Recently, we wrote about Jupiter Mobile V3, where we covered updates to the platform's mobile version aimed at enhancing user experience and integrating new features. These changes could become part of the growth strategy mentioned by the Jupiter team.

Stay tuned for updates, as the community is actively debating these proposals, and potential votes or decisions could impact the future of these projects.