Huma Finance to launch presale on Jupiter, what information is worth noting?
TechFlow Selected TechFlow Selected
Huma Finance to launch presale on Jupiter, what information is worth noting?
The two co-founders are long-time close friends; in earlier years, meow had stayed at Erbil's place, but was "kicked out" because Erbil's girlfriend found him too annoying...
Navigating Web3 tides with focused insightsAuthor: Azuma (@azuma_eth)
On May 18, the Jupiter community launched a new governance vote. The proposal suggests that Huma Finance and Jupiter jointly build a DAO alliance, and Huma Finance will become the first project to launch on Jupiter’s new pre-sale platform.
About Huma Finance
A highly discussed project in recent market conversations, Huma Finance is positioned as a PayFi protocol focused on cross-border payment working capital use cases.
In February 2023 and September 2024, Huma Finance completed two funding rounds of $8.3 million and $38 million respectively, with participation from Distributed Global, ParaFi, Circle Ventures, Robot Ventures, Hashkey Capital, Folius Ventures, and others.
According to official data from the Huma Finance platform, it has achieved over $4.3 billion in total transaction volume, approximately $4.09 million in total revenue, distributed around 550 million Feather points, with about $104 million in active liquidity assets, $64.083 million in PayFi assets, and $39.908 million in liquidity assets.
Odaily note: For more details on Huma Finance's business logic, refer to "Is Huma, the Rising Star of PayFi, Actually P2P?"
Token Information and Pre-Sale Details
As part of this collaboration, Huma Finance disclosed key details about its token for the first time.
Although the final token name has not been confirmed, it is confirmed that Huma Finance’s total token supply will be 10 billion, with utilities including:
-
Sharing staking rewards;
-
Buybacks/burns funded by excess revenue;
-
Governance participation in incentives and fee distributions;
-
Priority access to protocol features.
The collaboration includes three specific components, including the pre-sale.
First, a pre-sale for JUP stakers: the pre-sale FDV is set at $75 million (a significant discount compared to the last funding round); allocation amounts to 1% of the total supply; larger staking amounts receive higher allocation shares; post-TGE, pre-sale allocations will be locked for three months.
Second, treasury reserve swap between Huma Finance and Jupiter: the swap size is $250,000, using the same $75 million FDV valuation; both parties will adhere to a one-year lock-up period after the swap.
Third, community collaboration: Huma Finance hopes the Jupiter community will provide strategic support for its token launch, accelerating dissemination through memes and content, injecting Jupiter’s momentum into Huma Finance’s token release.
Team Relationship
On the day the vote launched, Jupiter co-founder meow published a long post on X, revealing his personal relationship with Huma Finance co-founder Erbil Karaman.
In brief, meow and Erbil have known each other for over a decade, initially meeting on Quora—the American equivalent of Zhihu. They later became friends in the Web2 tech scene. At one point, meow even stayed at Erbil’s Bay Area apartment, where they worked together at a small shared workspace called Dogpatch Labs, occasionally hanging out at AngelList... This living arrangement ended abruptly when Erbil’s girlfriend (now wife) found meow too annoying—meow still doesn’t know exactly what he did wrong, only remembering Erbil’s awkward expression at the time...
Years later, when Erbil led growth initiatives at Facebook, meow collaborated with him to organize Facebook’s first internal Bitcoin lecture.
In subsequent years, as meow immersed himself in the Web3 space, their direct communication decreased—until Erbil entered the space via Huma Finance. To support Erbil, meow participated in Huma Finance’s Series A round at a $171 million valuation—nearly double the pre-sale valuation.
During Jupiter’s earlier Catstanbul event, Erbil helped organize a major event—burning a giant cat-themed statue to commemorate the burning of 3 billion JUP tokens. Erbil coordinated artists, engineers, laser and flame effects specialists, and handled logistics including hotels, transportation, and music.
In short, meow and Erbil share a long-standing personal friendship, making their deep collaboration unsurprising.
Pre-Sale Expectations
Returning to the pre-sale itself, one clear fact is that given historical funding valuations and current market热度, a $75 million FDV is undoubtedly an attractive price. However, the 1% total supply allocation is relatively small—many Jupiter community members have commented under the proposal requesting a higher allocation.
The current uncertainty lies in whether the snapshot for JUP staking status has already been taken—which directly determines who qualifies for the pre-sale and their specific allocation amount. As a reference, the current total staked JUP stands at 658,013,762, roughly 22.7% of the circulating supply; stakers can use this data to estimate their potential pre-sale allocation.
There are approximately two days and six hours remaining until the voting deadline for the proposal. Results are expected to be revealed Thursday evening, potentially disclosing further information.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
Odaily
