[Jupiter Co-Founder Considers Halting JUP Buybacks, Community Suggests Staking and Protocol Asset Rewards for Long-Term Holders] BlockBeats News, January 4: Jupiter co-founder SIONG posted on X discussing whether to "halt JUP buybacks," stating that over $70 million was spent on JUP buybacks last year, but the price has not changed significantly. He suggested that the $70 million could be used to provide growth incentives for existing and new users. Regarding the discussion on "whether to buy back," Solana co-founder Anatoly Yakovenko suggested that it would be better to store profits in the form of "protocol assets that can be claimed in the future." Users could lock and stake for a year to earn token rewards, and as the balance sheet grows, stakers could receive greater returns. Multicoin co-founder Kyle Samani agreed with the core spirit of Anatoly Yakovenko's idea but noted that the mechanism needs further optimization. Traditional stocks do not effectively reward long-term holders. Crypto teams should find ways to allocate a disproportionate share of value to long-term holders. Selini Capital founder Jordi Alexander stated, "Adjusting the buyback amount based on price is a good approach. If the price is low, as much as possible should be bought back, as this can significantly reduce supply. When the market overheats, the pace should slow down. Some founders are more accustomed to traditional stock buyback decisions made by CEOs/management, allowing for ad hoc buybacks. However, if transparency, predictability, or legal issues are the primary concerns, a more decentralized protocol can achieve this programmatically. A simple method is to use a calculated price-to-earnings ratio (P/E ratio), and each protocol can design its P/E ratio for buybacks based on its specific circumstances." Fabiano.sol, a KOL in the Solana ecosystem, commented, "The reason JUP buybacks are ineffective is that people currently have no reason to hold JUP. I believe the correct process should be: first, give people a reason to hold the token, and then proceed with buybacks. Buybacks and burns remain one of the best deflationary mechanisms, but they take time. Currently, 50 million JUP (approximately $10 million) is distributed quarterly as staking rewards. Jupiter could use 50% of its revenue to buy back JUP and place it in Litterbox, repurchasing $10–20 million worth of JUP quarterly. A potential alternative is to use this $10 million for staking rewards instead of buying back JUP. At the current price, this could generate an APY of approximately 25%, which is very attractive. While this is not a direct deflationary mechanism, I believe it would be more beneficial to the token price than simple buybacks.