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Jupiter Opens Vote on 215 Million Unclaimed JUP Tokens

by Chiwuike Owunwa
Sep 28, 2024 - 3:24 pm
in Blockchain
Jupiter DEX logo with DAO governance paused until 2026 to focus on DeFi growth

New Darlings: A Review of External Futures

On September 27, the Jupiter team announced that voting on the fate of 215 million unclaimed JUP tokens is now live. These tokens are ponied up from the airdrop of the Solana headquartered DEX exchange aggregator and are either not claimed or belong to hacked wallets.

There are three options offered to the community in the proposal

Allocate Tokens to Staking Rewards

The team indicates that the surplus JUP tokens can be added to the already active staking rewards (ASR) for one more year. This will help to encourage the community towards active participation and engagement in governance.

Burn the Tokens: Another suggestion is to burn the unclaimed JUP tokens which will in turn less the total supply of the total 1.35 billion tokens in effect. This can result in the appreciation of the rest of the tokens.

Return to Community Wallet

The last suggestion is to put the tokens back in the community owned multisig wallet until further funds allocation decisions are made.

Concept Error Fixed

When Will Depreciation Burn Value Retain Inside a JUP
In the situation community allows waning of 215 million unclaimed tokens, the said tokens will be taken out of the already in circulation supply. This is also such that it will be good for the token value because the fewer the tokens the more the demand.

As of now the circulating supply of the jup’s ceiling is fixed at 1.35 billion. A deduction of 215 million tokens will clearly show a quite a large cut back, which in turn raises the price of the commodity.

Financing Active Stake Rewards (ASR)

The active staking rewards (ASR) program intends to reward those who will contribute to the DEX’s governance by holding tokens. The figure of 100 million JUP has already been set aside from Jupiter’s treasury to jumpstart the programme and half of those tokens are for DAO voters during the first quarter.

The further 50 million JUP is expected to be disbursed beginning O

Tags: BlockchainDeFiWeb3
Chiwuike Owunwa

Chiwuike Owunwa

Chiwuike is a frontend programmer and writer with 3 years experience in the Web3. He's meticulous researcher, enthusiastic about Blockchain and the future of crypto, DeFi, and the Metaverse.

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