BTC
98,015.23
-1.88%
ETH
3,852.03
-3.57%
USDT
0.99983749
-0.07%
XRP
2.40
-6.50%
SOL
225.11
-4.55%
BNB
722.19
-2.59%
DOGE
0.43710377
-6.09%
USDC
1.00
+0.01%
ADA
1.13
-5.46%
STETH
3,850.34
-3.56%
TRX
0.29531871
-6.87%
AVAX
49.48
-5.14%
SHIB
0.0₄30210
-6.14%
TON
6.46
-3.94%
LINK
24.12
-6.50%
XLM
0.45637807
-6.39%
WBTC
97,840.85
-1.74%
SUI
4.10
-2.15%
BCH
603.80
-3.31%
PEPE
0.0₄27680
+5.52%
The revised vote changed how tokens would be distributed to users with additional checks to prevent tokens from going to mercenary airdrop farmers.
By Shaurya Malwa|Edited by Oliver Knight
Dec 9, 2024, 2:22 p.m. UTC
What to know:
- The proposal was part of the “Jupuary” vote #2, which was changed and refloated after the initial vote failed to gain community favor.
- A link to check eligibility will be available later in the month, while the actual airdrop is scheduled for the following month.
- “We will be hyper focused on including as many real users as possible, using key parameters like actual holdings, participation in the ecosystem, and consistency/place of usage,” Jupiter founder meow said.
The community group governing decisions on Solana-based decentralized exchange Jupiter on Sunday passed a long-awaited vote to allow two incentives of $860 million (worth of tokens at current prices) each over two years, shifting the related JUP token’s fundamentals.
The proposal was part of the “Jupuary” vote #2, which was changed and refloated after the initial vote failed to gain community favor. Jupuary is the protocol’s name for an annual JUP token airdrop in January to users based on how they interacted with it in the preceding year.
Story continues below
The revised vote changed how tokens would be distributed to users with additional checks to prevent tokens from going to mercenary airdrop farmers — who typically interact with any protocol only for rewards.
“Maximum effort has to be made to ensure that JUP goes to the right people who have a good chance to become long term members – not farmers or overly focused on minority set of users,” founder “meow” wrote in a November proposal. “Portion of the allocation will go into incentivizing holding, buying and voting through the year.”
“We will be hyper focused on including as many real users as possible, using key parameters like actual holdings, participation in the ecosystem, and consistency/place of usage. Notably, unlike the first Jupuary, bots will be explicitly excluded,” meow added at the time.
A snapshot of eligibility was taken in November. A link to check eligibility will be available later in the month, while the actual airdrop is scheduled for the following month.
JUP prices are down 7% in the past 24 hours amid a broader market decline.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM,
BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
