The Jupiter project operations team recently sent a signal on social media, claiming that the $70 million invested in token buybacks last year had limited effects, and proposing a shift towards user acquisition and incentive mechanisms. This statement has sparked widespread discussion within the community.

On the surface, shifting from buybacks to growth incentives seems like a logical choice to optimize fund allocation. But upon deeper reflection, the issue becomes more complex.

The large token unlock pressure in 2026 has already become a sword hanging over the project. Without buyback funds as a buffer, can purely relying on incentives absorb this wave of selling pressure? Many projects in history have faced liquidity crises during similar unlock periods.

More importantly, the way the operations team is testing the community’s bottom line—using the "growth first" excuse to downplay the commitment to buybacks—appears somewhat passive. The gap between promises and execution often determines investors’ long-term confidence in the project.