Nice one.
I’ll attach it to the post. Have to listen it again tomorrow. It was hard trying to understand different accents while reading the chat and taking notes. God did not bless me with multitasking brain.
I do have a meaningful suggestion about the introduction of the tokens (this suggestion is made assuming we would indeed start at 75% reduction for day 1 claim and making it last ~ 1 year before it’s 0% reduction).
My suggestion is to have daily reductions of 0.2% for 375 days (starting at 75% and ending at 0%). You can read the full idea explanation below.
Agree not to mention testing out limit orders. Lost some capital to that
Nice overview man! Concise, not too fancy and what would everyone need for a quick update. Thank you!
IMO Sanctum’s earnestness vesting is a good example. They did 6 months, but I’m definitely ok with 1 year instead!
So who is claiming on day 1 so they give back 75% to the DAO? Feels like handing a gift back but could also be a nice thing as well, like a donation to the DAO
Yea Jupiter founder Meow suggested 1 year starting at 75% reduction, going to 0%. So I wrote a proposal for an effective application of his idea.
I completed writing out the full proposal, which you can view through the link below.
You can check the 18:40 - 20:20 mark where Meow talks about Jupuary
https://x.com/i/broadcasts/1djxXrMZlDvGZ
- There’s no perfect way to exclude all farmers
- Most wallets won’t get anything [ due to wallet eligibility criteria ]
- Important that each eligible wallet get a substantial gift
- Excluding inactive wallets from the airdrop
- We have to exclude most people
- It will include people who were more active and more consistent over the year
- You will be able to use the staked tokens to vote on proposals and earn Active Staking Rewards (ASR)
[ Comment: ASR would still be 17.5%+ APY at 1.14B JUP Staked]
From around the 1:03:50 mark he says something else about Jupuary:
- This year would still be [ similar ] like last year around without too many allocation categories around specific platform adoption, but this would be a focus from next year (this is paraphrased, not directly quoted)
They mentioned my Jupuary proposal around 1:20 - 1:22 and afterwards:
- Meow confirmed: There will probably be allocations for different categories
- ‘‘There’s definitely going to be some kind of transaction rhythm’’
- ‘‘And there’s definitely going to be different categories as well’’
Post updated with @Slorg tweet about Jupuary.
I dont fully understand how that works… if you dont claim them they get burned, but if you claim 75% is held? I jave never sold a single token all staked jup stays staked all rewards stay staked… id like these to be claimed and staked without losing 75%
- You don’t claim for 6 months (if it’s like last time), the unclaimed will go back to community. The previous unclaimed 215M JUP was used to fund another year of ASR.
- You decide to claim everything you can, you get 25% of your allocation and 75% will go back to community pool and will be used one way or another for community.
- You decide you are ok to commit long term, if you keep them the whole year, you’ll get 100% of your allocation. During the year, you can use that 100% to vote on proposals and receive ASR. The tokens are just locked for up to a year. The team will share more details about this later on.
Great thread by @Slorg, summarizing what’s been accomplished, where we stand, and what lies ahead on the hottest topic in the Jupiverse right now. It’s fair to say that most perspectives—both for and against—as well as the qualifications and distribution criteria, have been thoroughly debated here. At this point, I’m simply waiting to see what our capable Jup team will present for the community’s consideration.
Post updated with some alpha from Discord.
Thanks for the updates
This is getting crazy and I already feel the tickling in my stomach, only the final vote remains!! We are getting closer and closer. Congratulations to all those who had a hard daily work within the community, it seems that more of it will be focused on that. thank you
Interesting from @meow, since the votes from the DAO where a big discussion here to decide the allocation for the members that voted!!
Does this mean stakers and votes won’t get considered but a potential bonus is. Did I read that correctly. Does that mean stakers with large capital will continue to benefit from the unclaimed tokens and early un staking? Plus appreciation of Jup token?
We don’t have more details regarding this. The first draft proposal will be out soon. From what I’ve followed Meow talking, it seems his opinion for now is that ASR is what it is and while it gets diluted due to jupuary, and some people may leave, the market will find equilibrium.
But as said, the first draft proposal will be out soon so it’s not very useful to speculate what may be coming. We will find out very soon.
I’ll second what @miuq said here
We don’t have more details regarding this. The first draft proposal will be out soon
Therefore, most of the conversations are is simply speculations. Just want to have that said!
Haha yeah that’s what happens when you have a space like crypto. We are all speculating by nature.