JUP Proposal
Fee Reduction
04.26.2024
Participants:
Creator: @nocommander
Writer: @Solivigant
Members of the community have expressed the NEED for JUP to have more incentives to fuel the continued adoption of JUP and the utility of JUP on the Jupiter exchange.
Ultimately, JUP is a governance token that currently harnesses the power to vote through a staking period of 30 days, which reduces liquidity and therefore provides little to no value to holders who look to gain off of shorter time periods aside from short term price movements and long term potential.
Today we propose a reduction of DCA and Limit Order fees when using JUP, providing not only a use case, but the potential for increased adoption to Jupiter users over a long term.
Currently we pay a .1% platform fee for DCA and Limit Orders. Our proposal is that if the JUP token is used in these transactions, instead of USDT, USDC, and others, then this .1% would be reduced by 5% to .095%.
This minimal reduction in fees will benefit the community by:
1. Encouraging users to adoption of JUP,
2. increasing JUP volume and potential for long term growth,
3. all while providing a new use case to JUP.
With enough time and an early onset of additional utility, the community looks to empower the JUP token on the Jupiter platform, leading to energize the network effect with the aim that the JUP token would be widely used as a payment method, onboarding millions of users looking for a discount and the ability to gain off of potential future benefits.
With this proposal passed, we look to arm the JUP to have more incentives, fuelling the continued adoption
Additional notes:
I’d like to give a meow to @Solivigant for helping me with this proposal, as well as the cats who gave this idea 10 likes on the LFG2 round feedback thread. LET’S GIVE JUP SOME CATNIP and we’ll see you on the MOON!