A Discussion Regarding the 220M unclaimed $JUP

Jupiter DAO $JUP
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An exploratory post discussing what should be done with the 220M unclaimed

Link to original X Article

The following proposals are in no particular order, each one as important as the other. I encourage you to discuss and suggest the following ideas in the comments below and with each other.

Enjoy!

Idea 1: Burn

At the start of August, the JUP DAO approved a proposal to burn 30% of the initial 10B supply.

Seeing as 95% of voters approved of the supply reduction, which is a substantial majority, it is worth considering as an option this time too.

However, with the 220M tokens representing only 2.2% of the original 10B supply, or 3.14% of the new 7B supply, some voters may regard this amount as insignificant.

To counter this idea of insignificance, I would point out that it ‘adds up’.

Pick up enough pennies and eventually you’ll have a pound.

Idea 2: Airdrop

My second suggestion is another airdrop, with those who qualified for the first distribution eligible.

In essence, blacklist the addresses of those who didn’t claim, and reward those who chose to claim their Jupuary allocation.

This could be a popular idea among early supporters, given that it further rewards their initial contributions to Jupiter.

On the other hand, one could argue that such a proposal isn’t ‘forward looking’, and may leave a sour taste in the mouths of new users.

After all, haven’t the ‘OG’ supporters been rewarded enough?

Idea 3: Fund Micro-Grants

A third idea could involve using some or all of the funds to facilitate further community engagement, through content creation, small events and even solo dev-work.

SuperTeam has been particularly effective at building a strong community by deploying similar strategies.

For e.g. creators like myself could be eligible for a $250 micro-grant in order to create Jupiter focused content, such as this post.

At $0.70, 220M tokens could fund 616,000 microgrants of this size - which is mind-boggling.

In Web3, content is king. If successful, such a proposal could bolster and take the Jupiter ecosystem to new heights.

A similar idea was voted through by the DAO in mid August, again with a large majority of 86%. Could this idea be as popular?

Idea 4: Product Development

As you’ll be aware, the cryptosphere spins much faster than the Earth, and due to this, Web3 companies should remain vigilant.

To retain the crown as one of, if not THE premier application on Solana, Jupiter must continue to innovate.

That said, I cannot fault the team thus far on their efforts, given that they are constantly shipping new updates.

This proposal suggests that some of the funds should be used to further Jupiter’s lead, ensuring that the future lies in its hands.

Surely additional utility and revenue streams will benefit $JUP
holders more in the long-term than a small airdrop / burn?

Idea 5: Bolster Active Staking Rewards

For those unfamiliar, ASR aim to encourage greater DAO participation by rewarding voters with $JUP and other launchpad tokens every quarter.

So far, only one distribution has occurred, with the next scheduled at the end of Q3.

At current standings, provided that every staked $JUP has been used to vote, each staker will earn an additional 0.14 $JUP per $JUP staked.

E.g. 10,000 $JUP staked = 1,400 additional $JUP

Such a proposal could be beneficial to the DAO, ensuring that participation continues, and that the community continues to stay on board with the vision.

On the contrary, at what point will ASR cease to exist?

A functioning democracy shouldn’t require rewards to vote, but maybe it’s important given the age of the JUP DAO.

Kudos to Lochie for this suggestion:

Thank-you for reading!

I hope you enjoyed this and found it informative.

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Why should they be blacklist just because they don’t claim their jup allocations? Some don’t even aware that they qualify for jup allocation.:person_shrugging:

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I think his referring to only exclude them since those are probably inactive wallets and would lead to the same issue. But I guess that with airdrops we will always have unclaimed allocation.

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I get your point, no research or dashboard shows that they are inactive wallet because they mis out this season doesn’t meaning they will not show up next time. The proposal is okay not just agreed with some point. :clap:

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Thanks for responding to my topic! you raised some great ideas. I think the team are leaning towards funding more ASR, but i tell you what wouldnt be the worst idea? A 3 Month ASR post jupuary to incentivise staking!

i.e. Jupuary drop happens = to prevent dump we bolster ASR

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I did consider this, but if those wallets didn’t claim the first time - then you end up with the same problem, provided they don’t claim of course.

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Since @meow mentioned it as an option in todays JUP planetary call, i would really be in-favour of “Idea 1: Burn”. It was unclaimed anyway.

Above all the whole project is still in experimentation phase as he calls it and there is more JUP still to be issued and eventually we might not even need 7 Billion, but this is more related to a question for another day addressing how scalable JUP really is and how much of the token will you really need.

Don’t get me wrong all ideas in your post have a good use case, just think that we have more JUP that we actually need. :ringer_planet:

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Alright. no matter what it’s unclaimed jup we still be occur, I know the team have the best plans for it. Increasing ASR we make more sense.

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I love the vote. It just settles ideas from the debate, we all accept the outcome and move on. Bring on the vote next weekđŸ’Ș🏿

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Has the burn for the 30% reduction started?

I’m not a huge fan of the burn tbh. I feel it should be kept in the hand of the dao and community

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Vote is pass already, the decision of being burn can’t be overrun. I think the perfect decision is keeping it at the hand of Doas but I think they also have perfect options for daos as well. We’re here for long time ppp.

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If the 220 million is already allocated out isn’t that calculated into the circulating supply? Is the fear that people will automatically dump the JUP. once it is allocated? Burning it not a bad idea reallocating it for ASR not a bad idea. Which is the best that is tricky. My only queston is if this 220m ASR vote does not pass will ASR cease to exist? I thought the idea was to fund ASR before we knew about the unclaimed JUP. Also if it is voted agaisnt how will we incentivise DAO voting? Or are we not wanting to anymore. Hoping we get the LFG launchpad going here soon that was a beautiful part of owning JUP. I know not all the projects are doing well but if we switch to permiissionless and still collect fees for the DAO it could be like a lottery ticket some will do good some will not.

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The 220 million JUP is part of the circulating supply, there was a plan for ASR program for 4 quarter already. When the unclaimed jup occur it was proposed to extend the previous plan of ASR program by more quarters. If previous quarters was planned for 4 quarter, it can be extend to 6 to 8 quarters of ASR program.
200 Millon jup was previously planned for 4 quarter, now if the unclaimed jup was added to the program it can be extend to 8 quarters.
If I actually get it right @0xSoju

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Ok yea that’s the clarification I was trying to get. Hopefully he responds just to clarify. The way the proposal reads now is using the unclaimed JUP to fund the next 4 ASR events not an additional.

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I Hope, I think is to fund new not additional to previous planned. :white_check_mark:

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Yea the way it’s talked about now is that is the new way to fund the ASR going forwards so stopping at 4.

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Yea that’s a good idea staking is more or less an important part of central structure of the jup eco and rewards always makes new or old supporters want to support more be active more on proposals too. Also help with price action keep from dumping.

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Even funding the next 4 ASR’s is a key indication of sustainability.

Why? Well, if Jupuary vote passes there will be ofc left over tokens again. We could utilise the same strat.

Therefore we could be funding 4 ASR’s a year with left over Jupuary funds.

2 years of ASR from JUP makes me EXTREMELY bullish. And I think a lot of people will keep staking and increasing their staking power

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Yeah you’re right, I hope daos are able to maintain the sustainability in the bear market, by able to maintain the solid Staking process in bear market. Jupiter Exchange was made in the bear I’m sure it will always sustain in every market conditions.

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Agree and let’s not forget that ASR is core reward system to encourage & stimulate a vibrant Jup DAO and not an ecosystem token airdrop. It’s actually incredible if it’s possible to sustain this by recycling unused funds from unclaimed Jupuary airdrops and even unclaimed ASR.

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