As a seasoned crypto investor with a keen eye for opportunity, I find myself intrigued by Jupiter’s recent proposal to dispose of unclaimed JUP tokens. Having navigated numerous market cycles and witnessed the rise and fall of various projects, I can appreciate the importance of proper token management in maintaining the health and stability of a project.
Voting on the fate of the 215 million JUP tokens, which were not claimed during the project’s airdrop, is now open on Jupiter.
Starting on September 27th, the Jupiter team has made it known that the live voting process for deciding the fate of unclaimed tokens has commenced. These tokens were distributed during the Jupuary airdrop from the Solana decentralized exchange aggregator.
Proposal outlines three options
The decision on voting is based on a proposal put forth earlier in the week by the leading developer and team of the DEX aggregator. This proposition suggests that a sum totaling 215,461,850.21 JUP tokens, which were initially distributed through the project’s airdrop and farming, remain unassigned. These particular tokens are either unclaimed airdrops or originate from wallets that have been compromised.
In the plan they presented, the team suggested a preliminary idea that, if approved, would involve using surplus JUP tokens in a staking rewards system over the course of the next year.
Alternatively, the community can choose to burn the unused Jupuary tokens through voting, or opt to transfer them into a communal multi-signature wallet instead.
Should the community’s vote support token burning, it means that approximately 215 million JUP tokens will no longer be in circulation, which currently stands at 1.35 billion. This action is generally viewed as advantageous for the value of the asset.
JUP to fund ASR
If the community agrees to employ the 215 million JUP within the current staking rewards system, this system would serve as an incentive for JUP owners who participate in community and DAO decision-making processes.
Contributors actively participating in the management of the Decentralized Exchange (DEX) are awarded JUP tokens. At its inception, Jupiter pre-allocated 100 million JUP tokens, with half of these being distributed to DAO voters during the initial three months.
In the realm of crypto, here’s what I’ve got lined up: The anticipated distribution of approximately 50 million units is set for early October 2024. This allocation will be bestowed upon those who partake in Jupiter’s voting process between July 1, 2024 and September 30, 2024.
Read More
- The True Story of The Troubles in Hulu’s ‘Say Nothing,’ Explained
- Cat’s Mouse Jam lets you drive little mice on catbuses across a charming puzzler, now open for pre-registration
- Paramount+ U.K. Releases First Look at Adaptation ‘The Crow Girl’ With Eve Myles, Katherine Kelly
- Amy Adams Recalls Singing Karaoke With Taylor Swift — And Why It Didn’t Go Well
- Brian Cox Wished He Was In The Lord Of The Rings Movies, And He Dropped An F-Bomb When Telling Me How He Felt During Their Production
- Jaeheon Lee Embraces Haunting Beauty in ‘Ghosts in the Garden’
- Netflix’s Action Thriller Hit ‘Rebel Ridge’ Included on Coveted Best of 2024 List
- LEGO Taps Into ’80s Nostalgia with Blacktron Renegade Set
- Imtiaz Ali opens up about cases of casting couch in Bollywood; says ‘If a woman or girl cannot say no…’
- The 35 Saddest Movies of All Time
2024-09-27 21:18