Jupiter's 2025 JUP Burn Removed 32.7 Million Circulating Tokens

Jupiter burned three billion Jupiter (JUP) governance tokens on Jan. 26, 2025, cutting its original total supply by 30% while removing 32.7 million JUP from circulating supply. The other 2.9673 billion tokens came from noncirculating supply. That distinction limits what the 30% figure says about the burn's effect on circulating supply. JUP is the governance token for Jupiter, a Solana-based platform that offers swaps, lending, borrowing and perpetual trading. Jupiter also uses 50% of its on-chain revenue for a token buyback program. It has repurchased more than 250 million JUP since February 2025.