What to know:
- The proposal was part of the “Jupuary” vote #2, which was changed and refloated after the initial vote failed to gain community favor.
- A link to check eligibility will be available later in the month, while the actual airdrop is scheduled for the following month.
- “We will be hyper focused on including as many real users as possible, using key parameters like actual holdings, participation in the ecosystem, and consistency/place of usage,” Jupiter founder meow said.
As a seasoned crypto investor with a knack for spotting potential and navigating the ever-changing landscape of digital currencies, I find myself intrigued by the recent developments at Jupiter Exchange. Having been through several market cycles and witnessing numerous projects come and go, I must admit that it’s refreshing to see a DAO like JupDAO truly listening to its community’s concerns.
As an analyst, I’m excited to report that on Sunday, the decision-making body within the Solana-based decentralized exchange, Jupiter, finally approved a long-anticipated vote. This vote will enable the distribution of two incentives, each valued at approximately $860 million (in terms of tokens at present market prices), over a two-year period. This move is set to significantly reshape the underlying fundamentals of the JUP token.
The proposal was originally presented during the second vote of “Jupuary,” but was modified and reintroduced following the initial vote’s failure to receive support from the community. “Jupuary” refers to an annual airdrop of JUP tokens, distributed to users in January based on their interactions with it throughout the previous year.
Without a doubt, both @weremeow and @JupiterExchange have achieved something significant: transforming a community approval rating from a modest 58% to a striking 87%. To put it simply, they’ve managed to rally their communities in an impressive way.
— Marino (@marinonchain) December 8, 2024
The revised vote changed how tokens would be distributed to users with additional checks to prevent tokens from going to mercenary airdrop farmers — who typically interact with any protocol only for rewards.
In a proposal from November, ‘meow’, the founder, emphasized that every possible effort should be made to direct JUP towards individuals who are likely to remain long-term members for an extended period, excluding farmers or those overly concentrated on a specific niche of users. A part of the allocation will also be utilized to motivate holding, purchasing, and voting consistently throughout the year.
In other words, we aim to involve a wide range of genuine users by considering factors such as their assets, involvement within our system, and regularity/frequency of use. It’s worth noting that, unlike the initial Jupuary event, automated accounts (bots) will not be included in this process.
As an analyst, I’d like to inform you that we captured your eligibility status in November. Towards the end of this month, you’ll receive a link to verify your eligibility. The anticipated airdrop event is planned for the following month.
JUP prices are down 7% in the past 24 hours amid a broader market decline.
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2024-12-09 17:31