According to TechFlow, Jupiter passed a proposal called "Supply Reduction Proposal", which plans to cut the token supply by 30%.

According to the proposal, the team will voluntarily cut 30% of its allocation share, the Jupuary airdrop will also be reduced by 30%, and the remaining reduction will come from LP and strategic reserves. After this cut, the total amount of Jupiter tokens (JUP) will be reduced from 10 billion to 7 billion, while the community allocation share will remain unchanged.

Earlier news, Jupiter co-founder Meow previously stated that if the proposal is passed, the token destruction process may take 6 months to complete.