Jupiter @Jupiter 🪐 #jup
Part 2
Even in the first year, starting with LFG - we will see the DAO participate in a number of voting activities that will be broadly beneficial to the ecosystem, and with the advent of grants, we would like to see more ways for the ecosystem to find ideas that are leverage Jupiter to push the meta forward.
Strong Operational Funding
The DAO will be well capitalized with at least $8M in USDC and 100M in JUP for the first 2 years of funding for the purposes of workgroup budgets and grants. The USDC will serve as an operational budget while the JUP serves as incentives and long term alignment.
This budget allows J.U.P to attract networks of the very best community talent who can execute on initiatives and ideas that grow the value of Jupiter far more than any single organization can.
The team will look into different mechanisms, including DLMM fees from the launchpad to make sure the DAO is funded sustainably over time.
JUP FOR JUP
Starting with the JUP launchpad fees from the JUP launch, we want to get JUP into the hands of those who are the most actively involved and participate actively in the Jupiter ecosystem as voters.
As a result, we developed a mechanism called ASR (Active Staking Rewards), which does not reward passive staking, but rather stakers have to actively participate, and most importantly, engage.
If the first 6 months are successful, we will replenish the ASR rewards every 6 months on an ongoing basis as part of the JUP FOR JUP - getting JUP into the hands of those actively engaged, especially in this early part of the Jupiter.
Jupiter is a decades long endeavor - and having the early stakeholders are soooooo important as foundation.
Part of J.U.P
End of the day, the DAO is but one part, albeit a crucial part of a well-functioning community ecosystem. If the JUP DAO becomes the best DAO, it is because it lives within the best community of catdets, users, work groups.
Therefore, it is crucial that the DAO never resorts to short termed narrow thinking mindsets.
🩷
Meow
