Solana’s decentralized exchange (DEX), Jupiter, is ushering in a new age with its Jupiter DAO, which has received a remarkable $137 million in startup financing. Jupiter contributes $10 million in USDC and $127 million in its native JCP token to fuel Jupiter DAO’s initiatives, with a focus on ecosystem expansion and contributor rewards.
The DAO’s budget prioritizes long-term alignment to ensure ongoing growth and community involvement. Contributions will be refilled annually to fund ongoing efforts.
The initial money are housed in a DAO multisig wallet, with intentions to increase access to additional custodians. This measure increases openness and community participation in the ecosystem.
Jupiter is one of Solana’s main DEX platforms, with $381.49 million in total value locked (TVL), which contributes significantly to the vibrant ecosystem.
Solana has grown rapidly, becoming one of the major cryptocurrencycurrencies by market capitalization. The recent establishment of the Jupiter DAO strengthens Solana’s status as a blockchain pioneer.
