Jupiter Co-founder: Will not grant more utility to JUP beyond governance for the sake of "pump."

ChainCatcher news, Jupiter co-founder Meow stated during an AMA in the Solana Reddit community yesterday that they will not give JUP more utility to "pump" the price; JUP is just the governance token of Jupiter.

Meow further expressed that they do not endorse the narrative of "token utility driving value." The rise of this narrative is merely due to project founders' eagerness to explain why their tokens are valuable, but in reality, most people do not care about utility; they only care about value. However, the endless focus on utility often leads to a multitude of wrong decisions, as projects endlessly study token economics, which may drive a short-term surge in token prices, but ultimately will fall back.