According to BlockBeats, on August 1, Jupiter announced the initiation of a vote on a proposal to reduce the supply of JUP tokens. The primary goal of this proposal is to provide greater certainty, consistency, and transparency for all JUP holders and the community.

The proposal, put forward by Meow and the core team, suggests a 30% reduction in the total supply, decreasing it from 10 billion to 7 billion. As part of this initiative, the team has voluntarily agreed to cut their designated allocation by 30%.