Grow The Pie Update #2: Jupiter Start
At Breakpoint, we presented 3 major initiatives to grow the Solana Pie: $JUP, Jupiter Start, and Jupiter Labs. Today, after extensive discussions with the ecosystem, we are delighted to elaborate more about Jupiter Start.
For a long time, we have been wondering how we can encourage traction and awareness for great new projects while not accidentally promoting scams or being biased one way or the other.
It is crucial for ecosystems to strike the balance - new projects and tokens are literally the lifeblood of ecosystems, but hyping the wrong projects is probably the biggest breaker of trust for retail investors.
If we hit that balance though, we will be able to help good projects get more traction and awareness while making trading and investing more fun, trustworthy, and rewarding for users.
If we achieve that, we will also in essence be encouraging the safe, effective decentralized trading of new tokens, while helping the Solana ecosystem build more trust and connectivity.
Jupiter Start will be our year-long initiative to do so, banking on close collaboration with the community and ecosystem to help vet, debate, understand, and highlight great new projects.
The 5 aspects of Jupiter Start are:
- Jup Community Introductions
- Jup Prelisting
- Jup Educate
- Jup Launchpad
- Jup Atlas
We will start piloting the first 3 as soon as next week, while the next 2 will be done next year, since they involve funds and will need to be more carefully designed. As with all pilots, we will be iterating and experimenting with the formats very frequently.
A. Jupiter Community Introductions
Jupiter Community Introductions are to let Jupiter community members and users learn more about new projects and tokens in the Solana ecosystem.
Each introduction will last about a week, in which the project will be featured on our Discord forum. Projects will share key information about their idea, tokenomics, and key details like origination transactions and distribution of ownership.
Our community members will be able to help vet, understand, and discuss these projects. If the responses are positive and no red flags are found, we can spread the word further by tweeting about it and probably featuring it on our homepage.
Community members that prove expertise and thoughtfulness over time to their peers will also be able to earn corresponding rewards and recognition.
To kick this off, our first set of community introductions will be @OvolsNFT and @MyroSOL!
B. Jupiter Pre-Listing
Jupiter Pre-Listing aims to allow new tokens to be safely traded on Jupiter by users.
The token will show up in the token selector earlier, and the users can set limit orders at the price they want, perform DCA, etc.
Given that these are new tokens and liquidity will be very thin at the start, there will be lots of UI reminders and prompts to make sure the user knows what they are doing.
To ensure that these are not scam tokens, projects must be sufficiently known by the ecosystem, or need to post in a pilot forum in our Discord with sufficient time for our community to vet. Things like credibility are subjective, and we will iterate along the way. Obviously, tokens with misleading names similar to prominent projects or persons, or overlapped with the strict list will not be approved.
If you have a new token coming up, and want to make trading on Jupiter as easy as possible the moment the token is launched, let us know today!
If you’re a member of the ecosystem with expertise in evaluating various aspects of an early project — token distributions, legitimacy, etc. — let us know!
Pre-listings are NOT an endorsement of the project by Jupiter, merely a way to encourage a vibrant trading ecosystem. DYOR is extremely critical when investing in new tokens, be careful!
C. Jupiter Educate
Jupiter Educate is to let qualified traders and users of Jupiter learn more about great projects in the Solana ecosystem. The project will be featured on our social media as well as a section on our site. Qualified users and traders will be able to earn points or tokens by reading materials and performing certain on-chain actions.
With this initiative, we aim to have a sustainable, ongoing engine to let users know about great new on-chain projects, while also providing awareness and qualified active users for exciting new projects.
This will be a highly selective and customized process, and we will poll our communities ahead of time, and only projects with clear community support and strong ecosystem support will be part of this.
Pending a community poll, our first Educate partner will be @ZetaMarkets, an awesome perps exchange platform and a great friend of Jupiter!
D. Launchpad and Atlas
Launchpad and Atlas are 2 funding-related initiatives to be launched next year. Launchpad will help projects get community and their token launched, Atlas to allow the community to partake in VC-style seed funding for early-stage projects. Whenever funding is involved, it obviously becomes a lot more complicated, so we will be taking our time with these, while also applying some of the lessons.
Community-Driven Approach
As with all our key initiaitives, we are committed to doing these in conjuction with the community and doing it in a way that greatly enhances the trust of users in the Solana ecosystem.
If you fall into any of the following categories:
- A user with strong interest in vetting projects and understanding tokenomics
- A project looking to launch a new token or idea
- A community leader looking to connect new projects with your community
Please get in touch with @benliewxyz, and we will try our best to involve you! By the way, due to the extremely high demand from projects to be featured or supported for Jupiter Start, we apologize if we cannot accommodate all.
The most challenging thing about this whole endeavor is defining what 'good' means and who gets to decide that.
As such, we are designing Jupiter Start in a way such that the team is not the only entity involved in the process – instead, the community will play a leading role in proposing, deciding, or vetoing these endeavors.
Let's make Solana and crypto a better place for both good new projects and users - our moms will be very proud if that happens!