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LINK $8.36 -1.24%
HYPE $58.84 -0.50%
AAVE $94.90 -0.62%
SUI $0.7168 -3.88%
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ZEC $494.56 -3.50%

Jupiter's performance on Reddit has fallen short of expectations, and the founder stated that most of the funds have been returned to the DAO

2024-08-23 13:52:36
Collection

ChainCatcher message, @RequiemSolana pointed out on social media that the JUP holders of the Jupiter platform voted in May this year to approve a "Reddit Working Group" proposal, which is dedicated to empowering the Jupiter community and conducting public relations operations for the platform on Reddit. The budget was $68,000 per quarter (equivalent to $272,000 per year). However, four months later, the subreddit operated by the working group has only 6 active users, including the administrators, with an average of 1 comment. This represents a customer acquisition cost of $11,000 per user, with extremely low engagement.

Jupiter founder Meow later replied that the working group has actually ceased operations and has refunded $45,000 of unused funds to the DAO (which will be officially announced soon). The working group did actually make many interesting and meaningful attempts.

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