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TRX $0.3332 -0.08%
DOGE $0.0694 -0.68%
ADA $0.1809 -2.04%
BCH $205.07 -3.83%
LINK $8.80 +0.91%
HYPE $56.53 -1.71%
AAVE $86.88 -1.97%
SUI $0.6760 -1.67%
XLM $0.1588 -1.20%
ZEC $488.22 -0.88%

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

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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