Jupiter has opened a community vote on the fate of 215M unclaimed JUP tokens
Jupiter community voting on the fate of 215M unclaimed JUP tokens is now live. Options include funding rewards, burning tokens, or multi-sig returns. Transparency and alignment among JUP owners Decision as part of J4J initiative.
Solana-based decentralized exchange aggregator Jupiter has opened a community vote to decide the fate of 215 million unclaimed JUP tokens.
These tokens, originally part of the platform's “Jupuri” airdrop, and awarded prizes were either unclaimed or obtained from compromised wallets.
J4J initiative ideas
The vote, which opened on September 27, follows a proposal by the Jupiter team as part of the J4J initiative led by developer Werme, which aims to promote certainty, alignment and transparency among Jupiter owners.
This proposal is the second in the J4J initiative. The first J4J proposal approved after a vote in early August trimmed any fat in Tokinomics first and helped everyone in JUP understand the token gaps, setting the stage for two more votes.
The current voting proposal seeks to improve the issue of how to use the surplus tokens left over from the previous Jupuri. According to the proposal, Jupiter token holders will vote whether the user can use the tokens to fund the Active Staking Rewards (ASR) program for another year, or burn the tokens or return them to a community-managed multisig wallet.
Extending the Jupiter ASR program
This option refers to tokens used to extend the ASR program, which rewards those involved in Jupiter's management. This encourages active participation in decentralized autonomous organization (DAO) and community voting processes.
ASR was initially funded with 100 million JUP, 50% of which were submitted to voters in the first three months.
If approved, 215 million tokens will further increase the rewards for the coming year.
Burning JUP tokens
Alternatively, the community can choose to burn the tokens, reducing the circulating supply by 13%.
This move could increase the value of the remaining JUP tokens by making them scarcer.
Saving the tokens to a multisig wallet
Finally, returning the tokens to the MultiSig wallet allows the community to decide on the future use of the unclaimed assets.
Voting is now live and can be accessed at vote.jup.ag. Part of the ongoing J4J initiative, this vote aims to involve the Jupiter community in key governance decisions and foster transparency and alignment among stakeholders.
