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.

At the end of 2025, the Jupiter DAO voted to burn more than 134 million JUP accumulated through buybacks. A burn event subsequently destroyed those tokens.