Jupiter Exchange

October 2021

Jupiter Exchange founded on Solana by Meow and Siong Ong as a DEX aggregator routing trades across Solana liquidity venues.

November 2022

FTX collapses. Mercurial Finance, co-founded by Meow, is revealed to have had token IEO and market-making relationships with FTX and Alameda Research.

23 December 2022

Mercurial Finance announces relaunch as Meteora; team pivots focus to Jupiter and Meteora going forward.

31 January 2024

Jupiter launches JUP governance token via first Jupuary airdrop; approximately 1 billion JUP distributed to 955,000 wallets, valued at roughly $700 million at time of distribution.

March 2024

Jupiter DAO backlash over $7 million team salary proposal and Meow's proposal to exchange personal vested tokens for a community reserve bonus for new hires.

July 2024

Jupiter's meme coin CAT framework draws criticism after debut partnership with Irene Zhao, whom ZachXBT alleged had previously acted against investor interests in prior projects.

30 November 2024

Co-founder Meow posts racial slur on X in response to a memecoin verification inquiry; initially refuses to apologize, citing intent. JUP drops approximately 7.7% in 24 hours. Meow subsequently issues formal apology.

22 January 2025

Second Jupuary airdrop (Jupuary 2025) distributes 700 million JUP to approximately 2 million eligible wallets, valued at approximately $616 million.

27 January 2025

At Catstanbul conference, Jupiter announces majority stake acquisition in Moonshot and acquisition of SonarWatch portfolio tracker, alongside 3 billion JUP token burn and 50% fee buyback program. CoinDesk reports community concerns about Solana ecosystem monopolization.

6 February 2025

Jupiter's official X account is hacked; attackers promote fake memecoins $MEOW and $DCOIN. $MEOW surpasses $20 million market cap before liquidity is drained. JUP drops 12%. Jupiter regains account control within hours and confirms treasury funds secure.

14 February 2025

Argentine President Javier Milei endorses $LIBRA memecoin on X; token collapses in alleged $251 million rug pull. Jupiter discloses it had advance knowledge of the launch from Kelsier Ventures but found no evidence of employee sniping.

17 February 2025

Jupiter commences JUP token buyback program, using 50% of protocol fees to repurchase and lock tokens for three years.

20 June 2025

Jupiter formally pauses all DAO governance voting through end of 2025, citing 'breakdown in trust' and unsustainable governance dynamics driven by team voting power concentration.

August 2025

Jupiter Lend launches; reaches $1 billion in supplied assets within eight days, the fastest TVL growth of any Solana lending protocol.

December 2025

Jupiter Lend's 'zero contagion risk' marketing claims are revealed to be inaccurate; COO Kash Dhanda acknowledges the claim was 'not 100% correct,' confirming the protocol uses rehypothecation. Jupiter deletes original posts and amends disclosures. Competitor Kamino Finance blocks Jupiter's migration tool.

2026

Jupiter's Q4 2025 ASR reward claim process requires users to import seed phrases into Jupiter's native wallet, drawing community backlash over security risks and self-custody violations. Jupiter announces an alternative claim method will be developed.

February 2026

Jupiter DAO passes 'Net-Zero Emissions' proposal with approximately 75% support, indefinitely postponing the Jupuary 2026 airdrop and halting new JUP emissions, while team vesting from Mercurial agreements continues.