Jupiter launches new proposal to reduce future net token release to zero
According to Odaily, Jupiter COO Kash has initiated a proposal on the governance forum to reduce the net release of JUP to zero for the foreseeable future. The proposal mainly targets the three current sources of JUP release — Jupuary airdrop, team allocation unlocking, and Mercurial quota unlocking. The specific strategies are as follows.
First, indefinitely postpone the Jupuary airdrop, returning all 700 million JUP to the community multi-signature cold wallet for future use. The usage and staking snapshot at the current time will be preserved. When the market environment, token status, and market sentiment become more suitable, this matter will be renegotiated with the DAO.
Second, indefinitely suspend the release of tokens to team members. As an alternative, team members will receive JUP in the form of claims on the Jupiter balance sheet — if any member wishes to sell their allocated tokens, Jupiter's balance sheet will directly purchase them. This move will further strengthen JUP reserves and demonstrate the team's commitment to the future of the JUP token.
Third, fully hedge the selling pressure from Mercurial stakeholders by accelerating its unlocking process and purchasing an equivalent amount of tokens through Jupiter's own balance sheet to absorb any impact from potential token sales.
The related proposal will be discussed by the community on February 16, with voting starting on February 17.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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