Helium and Jupiter have announced the suspension of their token buyback programs, citing minimal impact on token prices. Helium founder Amir Haleem stated that the market showed little interest in buybacks, prompting the decision to halt the initiative and focus on expanding Helium Mobile's user base and network. Helium had planned to use a portion of its revenue for buybacks, but the declining price of its HNT token led to a reevaluation of priorities.
Similarly, Jupiter, a leading DEX aggregator in the Solana ecosystem, spent over $70 million on JUP token buybacks last year, yet saw no significant price improvement. Co-founder Siong Ong questioned the effectiveness of buybacks and suggested reallocating funds to growth incentives. Despite carefully designed buyback rules, JUP's price has continued to decline, prompting a reconsideration of the strategy.
The decisions by Helium and Jupiter have sparked industry debate on the efficacy of buybacks, with some experts advocating for alternative strategies to incentivize long-term holders and enhance project value.
Helium and Jupiter Cease Token Buybacks Amid Market Ineffectiveness
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