Aug 27, 2024 2 min read jlp

Jupiter - Not a scam

Reality

Jupiter has been one of the best airdrops of 2024. Destroyed traders in the bear market came to life by receiving 85,000 USD worth of JUPS which might or might not have dumped to market.

Jupiter proved it self to be one of the greatest communities and airdrops, MEOW seems to be a great leader, basically, Jupiter is a great CULT coin, meaning it has a vibrant community around it.

💡

Meow is basically the brilliant mind behind jupiter, you can find his bio here

With the latest announcements about burning, locking the team tokens.. it does show an alignment from the jupiter team with its communities. One could say that Jupiter is truly not a scam such as wormhole or other solana HUGE FDV coins.

Jupiter Perps is one of the biggest on-chain derivatives.

💡

Don't believe me, check defillama on this fact

JLP token is a great store of value, at least, in traditional finance lenses but most people in crypto are degenerates looking for fast riches. JLP token relies mostly on the value of the assets its hold (index like properties) plus the fees from its Jupiter Perpetual exchange. Note that JUP perps are actually quite competitive for people trading above 2.5 MM for BTC/ETH/SOL perps.

💡

Jupiter community is actually alive -> https://www.jupresear.ch/; note this is a nice fact when compared to Yearn Finance forums which are literally dead

Problems

1 - If volume decreases from Jupiter PERPS the JLP token value offering is not that much

2 - Staking Jupiter to get more Jupiter and having 30 days to unlock is a meme of the past, governance is cool but nobody gives a fuck to be honest. Just check out wormhole staking which then proceeded to decrease ~60% of its value after it launched

3 - No value from fees is actually used to do anything for JUPITER token?

4 - No one really cares about utility anymore

Conclusion

Jupiter is one of the greatest product in crypto, their aggregator is a tool that its indispensable in the solana ecosystem, Jupiter team is capable and not some VC leeches like TIA or DYM who are looking to take your money to another dimension where you no longer control it. Monitor the community, accumulate on the dips but for now, no coin is safe.

Jupiter has truly outperformed most of the airdrops from 2024, engage with their community if you are into that but for God sakes do not fall into the staking meme, its never what it seems to be.

My quant says that the market can stay Retardio longer than you can stay Profitable