Jupiter · JUP
DeFi on Solana — swap routing, perps, lending and staking in one app
How we judge every coin · tap▾
You want coins with the best chance to rise. Three forces decide it: inflation (fewer new coins = less selling pressure), narrative (a strong story pulls buyers in), business model (is the token actually needed, and used). Full method →
JUP · nothing new can be minted, yet the float still edges up — the quarterly rewards payout is bigger than the buyback.
JUP is the token of Jupiter, a Solana swap router that took $18.4M of trading fees in 30 days — ~3,320M circulating out of 6,862M, mint authority renounced.
Sell pressure. 48.09M JUP over 90 days. There is no mint and the Feb 2026 vote ended the unlock schedule — but the community wallet paid 50.00M of quarterly staking rewards, and stakers claimed nearly all.
Buy pressure. Half of protocol revenue bought 32.79M JUP on the open market and parked it in a trust locked three years. The trust holds 165.5M and has never sold.
- Next quarterly staking-rewards payout opens~48.09M JUPOct 8 2026 · released from the community wallet to stakers — the same size as the last two rounds
JUP has no mint function left — the mint authority reads null on-chain, so not one new JUP can ever be created by anyone. Every figure on the sell side is therefore a move of coins that already exist, never new supply.
The net-zero governance vote closed Feb 22 2026 and ended the schedule outright: the last team unlock was Jan 27 2026, the founding-stakeholder pool was settled with a final accelerated tranche on Feb 25 2026, and the postponed airdrop allocations were cancelled into custody with no release date. Trackers now read JUP as fully unlocked, and no cliff falls in this window or the next. Some listings still republish a retired monthly tranche against fresh dates; it is dead.
Jupiter's community wallet paid out its staking rewards for the quarter: 50.00M JUP left it on Jul 7 2026 and Jul 16 2026 into the two claim contracts, 1.91M came back from the previous round, and both contracts have since emptied out to stakers — only 0.49M was ever clawed back. The same payout ran on Apr 8 2026 and Jul 8 2026, so the next one lands around Oct 8 2026. Separately, 90.00M JUP moved between Jupiter's own team vaults inside this window and every receiving wallet still holds it, so that is a change of custody rather than coins reaching the market. About 3,542M JUP sits outside the float in three wallets that did not move at all, and the buyback trust holds a further 165.5M inside the float.
Jupiter has no bankruptcy estate and no trustee distribution. The one long-dated lock is the buyback trust itself, and its three-year term runs well past this window.
Half of Jupiter's protocol revenue buys JUP on the open market and locks it in a trust for three years. Read straight off the chain, that trust went from 132.73M JUP on Jun 7 2026 to 165.52M JUP on Sep 5 2026, rising at every checkpoint in between and never once falling. The coins are parked, not destroyed — which is why the same 165.5M also shows up on the sell side as a tracked overhang.
There is no running burn. Holders voted once, in Nov 2025, to destroy about 134M JUP sitting in the trust, and both surfaces that could show a burn were read at each end of this window: the unspendable address holds effectively nothing, and total supply has not moved. Today's buyback parks coins instead of destroying them.
No public evidence of release in window — monitored. No discretionary open-market buying is disclosed anywhere outside the revenue buyback already counted above.
The trust's three-year lock is already inside the buyback row and is not counted twice. Governance staking can be exited by the holder after a cooldown, so it is not treated as a long-term lock.
My research. My portfolio. Free.
Deep research weekly. My real holdings monthly.