Jupiter has initiated a vote regarding the future of the 215 million JUP tokens that remain unclaimed from the project’s airdrop.
On September 27, the Jupiter (JUP) team revealed that the voting process for the disposition of these unclaimed tokens is now open. These tokens are part of the Jupuary airdrop from the Solana (SOL) decentralized exchange aggregator.
Proposal presents three alternatives
The voting initiative follows a proposal made by the lead developer and team of the DEX aggregator earlier this week. The proposal indicates that a total of 215,461,850.21 JUP from the project’s airdrop and farming remains unallocated, consisting of either unclaimed airdropped tokens or tokens from compromised wallets.
Within the proposal, the team has suggested a draft to gain approval for the allocation of the surplus JUP tokens into an active staking rewards program for the upcoming year.
Nevertheless, the community also has the opportunity to vote in favor of either burning the unclaimed Jupuary tokens or returning them to a community multisig wallet.
If the community vote opts for a token burn, 215 million JUP will be eliminated from the circulating supply, which currently totals 1.35 billion. This action is considered advantageous for the asset’s value.
JUP to support ASR
If the community endorses the allocation of 215 million JUP to the active staking rewards program, the initiative aims to incentivize JUP holders for their involvement in community and DAO voting.
Participants who contribute to the DEX’s governance receive JUP as a reward. Initially, Jupiter funded the ASR with 100 million JUP tokens, with half of this amount designated for DAO voters during the first three months.
The subsequent 50 million JUP is set to be distributed at the beginning of October 2024, targeting individuals who participate in Jupiter voting from July 1, 2024, to September 30, 2024.
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