For reducing friction for new/non native users, allow for dao staking to be in any token including usdc with a jup swap happening behind the scenes. Not sure how price fluctuations can be dealt with but it would cut the number of steps of participation in half.
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Actually not a bad idea
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Sounds interesting although I think it’s already easy enough. Usually it’s okay or even preferable to leave some friction in the system (e.g., it fosters stickyness / acts as a filter).
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I think defi overestimates how eager people are to manage their own tokens. We clearly have the degen gambler already onboarded. They love to swap. Constantly. But closer to the middle of the curve, people dont care and just want to hold a few of the tokens they bought into or even just usdc. Jup can take care of the rest. You get your meal without seeing how the sausage gets made. If everyone tries to be sticky, users end up not choosing. Be smooth. They will come.
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Im not a dev and fairly new to altcoins, but definitely find myself not wanting to stake with projects because they require me to buy a new token (not jup, of course)
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That’s a great idea. The vision of J.U.P is to involve as many people as possible. Thus the massive Jupuary airdrops. They are invitations for the broader ecosystem to get involved with J.U.P.
If people could hold any token, whether USDC, SOL, WIF, whatever it is and “stake” it and participate, it would increase participation. And truly drive the decentralized meta forward. Likely being the first DAO to implement something like that.
The other “staked” tokens like SOL could be given voting power equivalent to their economic value. With $JUP serving as the base currency.
Although implementing something like this may decrease the perceived utility of $JUP, I think the increased DAO activity would offset any negative effects.
Decentralization has always been about getting as many people involved in ownership as possible. So if we took the approach of letting any token stake, it would be less like we’re saying “only if you buy our token can you participate”. To a more open approach.
J.U.P aims to be the forefront of the decentralized meta. And I’m not sure if gatekeeping participation in the DAO to only $JUP holders is the best approach. With meta acceleration approaching, including Global Unified Markets, and Global Decentralized Stock Exchange. Does it really seem fair to gate-keep DAO participation to $JUP token holders?
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@kill @0xSoju Right?! This is a fantasy i have, and i dont know enough to be able to tell how much is possible or science fiction:
If its developed enough to be used outside of just the dow, wouldnt everyone do this? Again, im sure this is technically pretty complicated, but you would have people staking btc without even knowing jup tokens exist. Meanwhile jup becomes a translator for staking across the entire defi ecosystem. Ive seen estimates for daily total staking across the cryptoverse to reach $4.5 billion DAILY by 2026. If jup handles 5% of this in swaps, thats $82m extra per year in just the .1% fees, not to mention $225m of flows each day that will strengthen the token, of course. And for sure if it caught on, that $4.5b would grow and include the $3.2t crypto market that doesn’t have staking and can only offer synthetic staking through jup. Theres growing demand for yield. Jup could translate staking so people earn usdc yield for example. How many of us would just stake through winter if we knew we could earn usdc yield on our btc through jup? This kind of smoothing is the exact thing that the best liquidity aggregator on the fastest cheapest chain can offer!
Sure jup doesnt gain visibility, but it could be even more ubiquitous than a meme… it could be the oxygen for passing through different worlds.
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Cool idea, has this been actioned at all?
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