In an exciting announcement, Jupiter and WEN developers detail their future strategies by allocating 0.75% of WEN tokens to the JUP DAO.
In Brief
As reported by Jupiter's team, they allocated 1% of all WEN tokens to their development crew, with 0.75% specifically for Jupiter DAO.
Memecoins on the Solana blockchain continue to spark conversations among crypto enthusiasts. Following the meteoric success of BONK In late December, a new meme token called WEN made waves shortly after its launch on January 26, with trading volumes skyrocketing to nearly $200 million within just a few days. according to CoinMarketCap data .
According to a recent statement by @weremeow The creator of Jupiter and Meteora revealed that a significant goal of the WEN launch was to conduct a robust stress test on the new LFG launchpad. This launchpad is envisioned as a comprehensive support framework to help on-chain projects gain traction while protecting users.
Stay informed about cryptocurrency allocations through our platform. Airdrops Calendar .
In connection with recent token-related decisions, @weremeow highlighted that the Jupiter development team received 1% of all WEN tokens as part of the LFG Launchpad, with an additional 0.75% going to Jupiter DAO.
The team has introduced a Constant Product Market Maker (CPMM) liquidity pool, supported by a risk-free loan of $250,000 worth of WEN tokens. This means if the token's price sees a drastic decrease, the team will cover this loan themselves.
These recent updates came after the burn of all unclaimed tokens—roughly 27% of WEN’s initial supply of 1 trillion—on January 29. Contrary to what many token holders anticipated, this led to a significant price drop, raising concerns within parts of the community.
The development team recognizes that the token burn, along with the uncertainties surrounding its allocation, has resulted in some negative sentiment among community members. Nevertheless, they remain optimistic about the future of WEN, having learned from past errors. They assured that these insights would be applied to the forthcoming airdrop of the platform’s governing token, JUP. scheduled for January 31 .
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