To ensure transparency, Meow announced that an independent third-party firm, Fenwick & West, will conduct an investigation and publish a report. Meow also expressed support for Ben, the project lead of Meteora, while acknowledging that Ben's lack of judgment and care regarding certain project aspects was unacceptable. As a result, Ben has resigned, and Jupiter will seek new leadership for Meteora.
Meow highlighted Jupiter's commitment to token transparency, citing the project's gold standard for token accounting and auditing. Jupiter has also maintained a non-extractive business model, allowing users to swap tens of billions for free and partners to make hundreds of millions in fees with minimal take.
Hi, I’m meow from Jupiter, and I also cofounded Meteora.
— meow (🐱, 🐐) (@weremeow) February 18, 2025
Firstly, I’d like to reiterate my confidence that no one at Jupiter or Meteora committed any insider trading or financial wrongdoing, or received any tokens inappropriately.
Secondly, we are hiring an independent 3rd…
Meow acknowledged the recent stress caused to the team, community, and ecosystem, apologizing for not holding other projects to the same standard. This incident marks a watershed moment for the crypto industry, emphasizing the need for projects with token certainty, long-term alignment, and extreme transparency.
Meow outlined three main goals moving forward:
1. Making jup.ag the best decentralized platform
2. Building Jupnet as the network to connect everything
3. Driving certainty, alignment, and transparency standards for the industry
The statement concludes with Meow's acknowledgment of lessons learned and the intention to apply these lessons to define the next major phase of the crypto industry.
We stand with meow and the jup eco system
ReplyDeleteYes! I stand with the jupiverse
DeleteWhat hard time…..I stand with meow
ReplyDelete