tl;dr
A new Jupiter DAO governance proposal by Meow, co-founder of the Solana DEX and token launchpad, aims for a 70% "yes" vote to airdrop 700 million JUP tokens to the community in January, followed by another 700 million later. Voting is open until November 29, and staking JUP tokens via Jupiter allows...
Jupiter DAO, a Solana decentralized exchange aggregator, has proposed two airdrops totaling nearly $1.5 billion worth of JUP tokens, contingent on a 70% approval from staked token holders. However, eligibility for the airdrops remains unclear, with potential considerations for trading volume, inclusivity, increased eligibility thresholds, and sybil detection.
Meow, co-founder of Solana DEX, highlights the potential of the airdrops to accelerate community growth and ecosystem development. With JUP currently trading at $1.07, the collective value of the airdrops amounts to $1.48 billion. Jupiter, boasting over $2.6 billion in total value locked, aims to utilize the airdrops to expand and enhance its ecosystem.
The new Jupiter DAO governance proposal, pushed by Meow, requires a 70% "yes" vote to airdrop 700 million JUP tokens to the community in January, followed by another 700 million later. Voting is open until November 29, and staking JUP tokens via Jupiter allows eligibility to vote.
If the vote fails, an amendment based on community feedback will be made. The proposal stresses rewarding "real humans and active users" and cites potential eligibility considerations for a "Jupuary 2025" event, aiming to increase eligibility thresholds and implement sybil detection.
JUP's current price of $1.07 values the airdrops collectively at $1.48 billion. Additionally, Jupiter ranks #16 among on-chain protocols, holding over $2.6 billion in total value locked.
Meow emphasizes that the first JUP airdrop in January of this year was one of the best executed and widely distributed in crypto. The team plans to increase minimum eligibility thresholds and invest more in sybil detection for the upcoming airdrops, aiming to drive community growth strategically.
After its first airdrop early this year, JUP traded around $0.50, rising to over $1.75 by March, according to CoinGecko. Currently trading at $1.07, JUP is up 7% this month. With JUP experiencing a 40% decline from its highs, the airdrops would collectively be valued at $1.48 billion at the current price. Jupiter, a Solana DEX aggregator, ranks #16 among all on-chain protocols with over $2.6 billion in total value locked.