Jupiter, a decentralized exchange (DEX) operating on the Solana network, has decided to reorganize its airdrop plan due to the failure to reach a 70 percent super majority in the community governance vote.
The proposed plan envisaged distributing a total of $1.6 billion worth of JUP tokens to platform users in different waves.
The first vote was insufficient
This week, a proposal by pseudonymous Jupiter co-founder Meow was put to a community vote on the Jupiter DAO, aiming to distribute a total of $1.6 billion worth of JUP tokens in two separate airdrops in January.
In the vote, which took place with a JUP vote strength of 364 million, 58 percent of the votes were in favor of the distribution. However, this rate fell short of the required 70 percent super majority.
“We will be holding a second vote as we are looking for a 70% super majority. This uncertainty is exhausting and affects community sentiment. But if we unite around a plan, we will move forward much stronger,” Meow said on the X (formerly Twitter) platform.
The plan will be revised
Before the second vote, Meow and his team will review the feedback from users who opposed the first vote and prepare a new proposal accordingly. The new proposal is expected to be put to a vote again next week.
“I think the idea of ‘making the pie bigger’ with Jupiter is great. If the amount is different, I will vote ‘yes’ without hesitation,” Juanortuzar.sol, a user from the Jupiter community, wrote in a suggestion forum.
The total JUP amount of the proposal—1.4 billion tokens—and some other details may need to change to gain community support.
Stay tuned.