Jupiter Exchange Debuts $WEN On New Token Launchpad – Crypto News – Crypto News
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Jupiter Exchange Debuts $WEN On New Token Launchpad – Crypto News

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On Jan. 25, the anonymous founder of Solana DeFi project Jupiter Exchange, known as weremeow, announced the launch of $WEN, a meme token that will reward users of its app over the past six months.

The token will also reward “active Jupiter users from the last six months, several top NFT collection holders, Ovols holders, and Genesis Saga holders,” weremeow said in a post on X.

The Solana-based $WEN, of which weremeow says 70 percent will be distributed to over a million wallets, has some novel characteristics. Its trillion tokens are fractionalized pieces of weremeow’s first NFT—a poetic homage to the people in Jupiter’s discord who constantly ask, “wen token.”

Weremeow explained the token’s origins in his thorough announcement. “Last month, as a tribute to all the WEN bois in my discord, DMs and my face asking about wen airdrop and wen free token and wen I will do something, I did the only thing a rational, highly stressed founder would do and wrote a love letter to all of them,” he said.

This love letter came in the form of a light-hearted poem by weremeow. Its message is that the constant clamor for a token is a sign of a team doing the right thing. “Wen means you are wanted,” one line reads.

“Last month, as a tribute to all the WEN bois in my discord, DMs and my face asking about wen airdrop and wen free token and wen I will do something, I did the only thing a rational, highly stressed founder would do and wrote a love letter to all of them.”

jupiter exchange founder weremeow

The poem was delightfully received by the community of Jupiter Exchange users gathered in its Discord server.

This gave weremeow an idea: the constant call of “wen” is a crucial part of the crypto market. “The many, many positive public and private responses I got for this actually made me realize one thing – that far beyond a moonboi phenomena, WEN is actually an extremely integral part about how crypto operates,” he explained.

Weremeow decided to embed the ethos of his poem in Jupiter’s much-anticipated token by fractionalizing an NFT of his poetry. With the help of Ovols, a team that operates a protocol that tokenizes NFTs for DeFi, Jupiter has released $WEN under a new token standard that enables anyone to fractionalize NFTs as a fungible token.

Even though $WEN is a fractionalized NFT and confers part ownership in weremeow’s poem, it will also operate and trade like other fungible tokens on Solana. Eligible users can claim their $WEN from 10 am ET on Jan. 26.

The token is the first official launch on Jupiter’s LFG Launchpad. Announced on Jan. 22, the platform, now in beta, promises a user-friendly way to launch and promote a token on Solana directly to Jupiter Exchange users.

$WEN debuts amidst anticipation for the $JUP airdrop for Solana users. This token, which will also drop on LFG Launchpad, is scheduled for a Jan. 31 launch.

The post Jupiter Exchange Debuts $WEN On New Token Launchpad appeared first on nft now.

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