The post Jupiter to hold vote on JUP tokens from earlier airdrop appeared on BitcoinEthereumNews.com.

Jupiter, the leading DEX aggregator on Solana, will vote on an excess of 215M JUP tokens. The assets from a previous airdrop make up around 6% of the circulating JUP supply and raise the question of pressuring the market.  Jupiter DEX is preparing to vote on the usage of the additional JUP tokens left after this year’s airdrop event. After the Jupuary farming session and airdrop, the project had upward of 215K JUP tokens in its reserves.  An exact amount of 215,461,850.21 JUP allocations remained unclaimed, due to compromised wallets or skipped claims during the airdrop window. Jupiter will hold a vote as part of its approach to include the community in key decisions.  JUP active staking boosts community engagement Earlier, the project’s lead developer, @weremeow, suggested the excess tokens may be used for Active Staking Rewards. That way, the tokens would still be distributed, but over a longer time. ASR tokens will also initially decrease the JUP in circulation, by encouraging more staking. Active staking is the main voting mechanism for the project.  The ASR program is efficient in distributing JUP, so far spreading more than 361M tokens. Using the JUP tokens as ASR will distribute the amount over the course of a year.  The goal of ASR is to encourage not only holding JUP but to boost discussions. Jupiter has held more than 12 votes on various issues over the course of six months. The Jupiter team has also stated ASR is the preferred usage for the excess tokens as a tool for community engagement. Jupiter puts out a vote for multiple products and developments, which gives the JUP token additional utility. The current initial proposal also includes the option to immediately burn the tokens, causing some deflation. The third possibility is to return them to the community…

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Filed under: News - @ September 24, 2024 9:24 pm