Kash Dhanda

I think the most surprising thing is how much divergence there is between Salana's usage and Salana's price as a token. Two billion transactions in February. Salana made like $26 million in network revenue. The market is currently pricing the asset based on macro fear and past cycle biases, ignoring its transition into a cash-flowing, high-utility infrastructure layer. Once global macro headwinds clear, the valuation will re-rate to reflect its fundamental revenue and stablecoin dominance. LONG because the fundamental business metrics are growing rapidly while the token price remains artificially depressed by external macro factors. A prolonged global macro downturn or escalating war could keep all risk assets depressed regardless of strong on-chain fundamentals.

If the economy starts to go bad then the Fed has to print, then monetary policy has to loosen which actually means more capital flowing to risk on assets like crypto. Geopolitical conflict and economic instability act as a forcing function for central bank liquidity injections. This fiat debasement directly benefits hard, capped-supply assets as investors seek hedges against inflation and currency devaluation. LONG as a macro play on inevitable central bank easing and global liquidity expansion. The Fed could choose to keep rates elevated if the war causes a severe spike in oil prices, reigniting inflation and delaying rate cuts.

We are one of the very few tokens that does not have any kind of net new emissions coming to market for the foreseeable future. 50% of our revenues, our onchain revenues go to buybacks right now. Crypto tokens typically suffer from constant downward price pressure due to VC unlocks and airdrop emissions. By eliminating new emissions and using actual protocol revenue to aggressively buy back tokens, Jupiter is creating a deflationary supply shock that will drive the price up as retail demand returns. LONG due to a massive structural shift in tokenomics, combining high protocol revenue with aggressive buybacks and zero new supply. The complexity of adding too many products to their super-app model could alienate users, reducing overall platform volume and buyback revenue.