As mentioned in previous weeks, the #Airdrop🪂 of @Jupiter 🪐 (Jupuary) has been a topic that worried many users due to the changes that have occurred, however, the first final proposal has already been launched.
Starting today, Monday, September 25th, those who have their #tokens #JUP locked and are part of the #DAO of #jupiter can start voting on this important proposal, as it will have significant implications for the Jupiter ecosystem.
The Jupiter airdrop is a way for more people to enter the Solana and Jupiter ecosystem and learn more about the project. With the new products they are launching and the improvements being made, it demonstrates their commitment to users, seeking excellence. The unification of the community will be a relevant topic starting from this proposal.
What is the proposed initiative?
This new proposed initiative asks us if as a community we feel comfortable with 2 more Jupiter airdrop events, where 700 million JUP tokens will be distributed in each one. We only have 2 alternatives, to vote 'yes' or 'no'.
What considerations should be taken into account if we vote 'yes'?
As recently proposed, this airdrop will take place in January 2025. According to the co-founder CEO of Jupiter weremeow, this airdrop will be very inclusive, aimed at real humans and active Jupiter users. Other considerations we need to keep in mind are that there would not be any kind of lock (initially there was a vesting) and there would be strict control for detecting Sybil accounts (multiple accounts farming airdrops). Furthermore, they said that staking JUP does not necessarily make you eligible for the Jupiter airdrop.
What happens if we vote 'no'?
If the DAO chooses the 'no' option, this proposal will be dismissed. But it won't end here, as in the scenario that the proposal is rejected, they will conduct a feedback process based on what the community says and will propose a new proposal with new changes. It is most likely that the new proposal will be made as soon as possible since they are against time.
How will the process be to decide the outcome of this vote?
Since this is a very important vote, for the 'yes' proposal to be considered valid, the DAO will need to vote 'yes' with over 70%. This is an important change that has not been seen in previous votes, which would demonstrate that the majority of the community is aligned with the proposed initiative.
My decision
Personally, I voted 'no' to the proposal, but not because I disagree with the Jupiter airdrop, but because of the distribution mechanism of the airdrop, as I think it is not the right one. I felt that the initial proposal of vesting or lock with a penalty for immediate claim was good. This is because, as in every airdrop, there are people who tend to sell immediately, so the price of JUP would have to absorb that token sale. Additionally, this lock would also allow users to belong to the Jupiter DAO and participate in votes over time.
The issue of lock and vesting in airdrops is not something new, as this has been seen in previous airdrops like Sanctum, Drift, Zeta Markets, among others, where users chose the option they wanted. If they wanted their tokens immediately, they imposed a 50% penalty or if they waited the lock period, they would receive 100% of their tokens.
While it is true that the burning of 30% of the total supply of JUP tokens, which would take place in January, remains pending, this is a separate issue. What we will vote on now are the new JUP tokens in circulation in the market.
Remember that you have until Friday, November 29th to vote. Don't forget.
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