Jupiter opens vote on 215m unclaimed JUP tokens

Jupiter has opened voting on what occurs to the 215 million JUP tokens unclaimed from the mission’s airdrop.

On Sept. 27, the Jupiter (JUP) crew announced that the vote on tips on how to get rid of unclaimed tokens is reside. The tokens are from the Solana (SOL) decentralized trade aggregator’s Jupuary airdrop.

Proposal outlines three choices

The vote follows the proposal by the DEX aggregator’s lead developer and crew earlier within the week. In accordance with the proposal, a complete of 215,461,850.21 JUP from the mission’s airdrop and farming are unallocated. These tokens are both unclaimed airdrops or are from compromised wallets.

Within the proposal, the crew outlined a draft in search of approval to place the surplus JUP tokens into an lively staking rewards program for the following one yr.

Nonetheless, the group additionally has the choice to vote for the burning of the unclaimed Jupuary tokens, or to return these tokens to a group multisig pockets.

If the group vote favors a token burn, then the 215 million JUP might be faraway from the circulating provide, at the moment at 1.35 billion. Such a measure is seen as useful to the worth of the asset.

JUP to fund ASR

If the group approves use of the 215 million JUP within the lively staking rewards program, which is a mechanism geared toward rewarding JUP holders for his or her collaborating in group and DAO voting.

Holders who actively contribute to the DEX’s governance get JUP. Jupiter initially bootstrapped the ASR with 100 million JUP tokens, with 50% of those allotted to DAO voters throughout the first three months.

The following 50 million is scheduled for distribution at the start of October 2024. This allocation will go to individuals in Jupiter voting between July 1, 2024 and September 30, 2024.