Jupiter's vote to "reduce net JUP releases to zero" has passed, and the Jupuary airdrop will be postponed indefinitely.

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According to Foresight News , Jupiter's vote on "reducing the net release of future tokens to zero" concluded today, with the community ultimately approving the proposal with 75% support. Previously, Jupiter initiated a new proposal to reduce the net release of JUP to zero in the foreseeable future. The proposal primarily targets the three current sources of JUP release—the Jupuary airdrop, team share unlocking, and Mercurial allocation unlocking—as follows: First, the Jupuary airdrop will be postponed indefinitely, with all 700 million JUP returned to the community's multisignature cold wallet for future use. Current usage and staking snapshots will be preserved. This matter will be renegotiated with the DAO when market conditions, token status, and market sentiment are more favorable. Second, the release of tokens to team members will be suspended indefinitely. Instead, team members will receive JUP in the form of Jupiter balance sheet debt—if any member wishes to sell their allocated tokens, Jupiter's balance sheet will directly purchase them. This move will further strengthen the JUP reserve and demonstrate the team's commitment to the future of the JUP token. Third, fully hedging against selling pressure from Mercurial stakeholders will accelerate its unlocking process and allow Jupiter to purchase an equivalent amount of tokens through its own balance sheet to absorb any shocks from potential token sales.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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