Who Is Siong Ong? Co-Founder of Solana's Jupiter

Siong Ong is a co-founder of the Solana aggregator Jupiter who floated ending its JUP buybacks in early January 2026, yet Jupiter's buyback trust held 176.6 million JUP at the mid-October 2026 close. He also co-founded Meteora and is a Y Combinator alum. The trust added a net 744,500 JUP in the five days to that close.

Ong's January idea is easy to test, because Jupiter publishes the wallet of the trust that does the buying. Over the five days to the mid-October close, that wallet's JUP account logged 687 transactions without a single failure. Jupiter's own forum records the debate he started, and the chain shows the trust still accumulating more than nine months later.

Siong Ong at a Glance

Who Is Siong Ong?

Siong Ong is one of the builders of Jupiter, the Solana trading aggregator behind the JUP token. A speaker page for Malaysia's SCxSC Fintech Summit 2024 lists him under a two-word title, "Co-founder Jupiter."

In May 2024 the staff of Jupiter's governance forum billed a Discord town hall as "Jupiter Product Feedback with Siong," a session with Ong on the requests users had posted about Jupiter's products.

The token of the project Ong co-founded has its own explainer, what Jupiter (JUP) is and why it matters, which covers the coin itself. This page stays on Ong and on the buyback he put up for debate.

Siong Ong's Career: Jupiter, Meteora and Y Combinator

The SCxSC speaker page sums up Ong's career in one sentence. It reads "Co-founder of Jupiter and Meteora, YCombinator alum, Envoy alum."

That line makes Siong Ong a co-founder of two projects. Jupiter is the aggregator, and Meteora is the second one the bio names. Meteora's own blog carries a case study of the JUP launch, and Jupiter's transparency page lists it among the token's key resources.

Jupiter grew out of an earlier venture. Its February 2026 Net-Zero Emissions proposal calls Mercurial "the project Jupiter spun out of" and says 5% of JUP's total supply went to Mercurial's token holders and investors.

Ong's role in Jupiter's DAO is narrower than his title suggests. In June 2025 Meow, the project's pseudonymous co-founder, wrote on Jupiter's forum that he and Siong do not and will not vote with their own tokens. Meow added that the pledge holds even after their tokens vest. The February 2026 proposal says the founders locked their tokens, with Meow's locked until 2030.

Did Jupiter Stop Its JUP Buybacks?

Jupiter hadn't stopped its JUP buybacks by the mid-October 2026 close, more than nine months after Siong Ong floated ending them in an early January post.

Ong's post landed badly with part of the community, and an angry thread on Jupiter's governance forum followed in early January. The team's February 2026 Net-Zero Emissions proposal still described the program in the present tense, saying "we send 50% of our onchain revenues to buybacks on the open market." Replying to it, a forum member wrote that since Ong's post the team hadn't confirmed "if buybacks will continue."

Jupiter's transparency page explains how the money moves. The Litterbox Trust has been active since February 2025 and receives 50% of all on-chain Jupiter revenue, which it spends on JUP through automated purchases on the open market. The other half of on-chain revenue joins off-chain revenue in the team's operating budget.

Jupiter has no equity entity, so the transparency page says all value its products generate accrues to the JUP token and the protocol.

The chain shows the program Ong questioned still running at the mid-October close. The trust's JUP account held 176.6 million JUP, up a net 744,500 JUP over the five days before it. In late October 2026 it held 176.8 million JUP, or 2.576% of the 6.861 billion JUP in existence.

Each of those five daily changes was a gain, and the largest came last. The first day added 105,300 JUP and the second 122,400. The third brought 159,300 before the fourth slowed to 128,200. The fifth added 229,300 JUP across 176 transactions, the busiest day of the five. Spread evenly, the trust took in about 148,900 JUP a day.

These are net changes, so an outflow such as a token burn would be netted out of them. JUP's supply also can't grow, because the token's mint authority is set to none.

Aave put an automated engine behind buybacks of its own token in June 2026, and Aave's new automated buyback engine explains how it was designed to spend protocol revenue.

Method: the balances come from Solana's public JSON-RPC, reading every finalized transaction on the trust's JUP account and taking the last balance of each calendar day as its close.

Check: one transaction read by hand on the third of the five days was a swap through Jupiter's own routing program, and it added 134.9 JUP to the trust. A second RPC provider returned the same owner and balance as the first.

Who Is the Founder of Jupiter Exchange?

Jupiter Exchange, as many searchers call the Solana aggregator, has more than one founder. Siong Ong is one, and another goes by Meow, a pseudonym used on Jupiter's forum.

Meow's June 2025 forum post calls a third team member "one of the core cofounders, along with me & siong" without naming him. The Jupiter pages cited here identify Meow only by that pseudonym.

So the short answer to "who is the Jupiter founder" is a group, and Ong is the only member of it named in full on the pages cited here. How their token has fared against Raydium's is the subject of our Jupiter vs Raydium token comparison.

How to Trade JUP on Phemex

The token of Ong's project has traded on Phemex since February 2024 as the JUP/USDT perpetual and the JUP/USDT spot pair, and both are open for trading. JUPUSDT closed mid-October at 0.315 USDT, up 7% on the day.

The perpetual offers leverage of up to 50x. Futures use leverage, and a leveraged position is closed automatically if losses reach its margin.

1. Create a Phemex account and fund it with USDT.

2. For spot, search JUP and open the JUP/USDT pair.

3. For futures, open the JUP/USDT perpetual, choose your margin mode and set leverage before you place an order.

Frequently Asked Questions

Who is Meow in Jupiter?

Meow is a pseudonymous co-founder of Jupiter who posts under that name on its governance forum. Jupiter's February 2026 proposal says Meow's tokens are locked until 2030. The Jupiter pages cited here give no other name.

Who founded Jupiter crypto?

Jupiter's co-founders include Siong Ong and the pseudonymous Meow, and Meow wrote in June 2025 that a third team member is also a core co-founder. Jupiter says it spun out of an earlier project called Mercurial.

Did Jupiter stop its JUP buybacks?

Not by the mid-October 2026 close. The Litterbox Trust, funded by half of Jupiter's on-chain revenue, gained JUP on each of the five days before that close and finished with 176.6 million tokens.

What is Siong Ong's background?

His SCxSC Fintech Summit 2024 bio calls him a Y Combinator alum and an Envoy alum. The same line names him a co-founder of Meteora as well as Jupiter.

Is JUP on Phemex?

Yes. Phemex lists a JUP/USDT perpetual with leverage of up to 50x and a JUP/USDT spot pair, and both have traded since February 2024.

Disclaimer: This article is for informational purposes only and is not financial advice. Cryptocurrency trading involves substantial risk. Always do your own research before making investment decisions.