Overall, I am loving the vision outlined for Jupiter, I think the Litterbox has a lot of potential and I’m excited to here about new acquisitions that continue to expand Jupiter’s product breadth. That being said, I have a few questions that I would love to see discussed surrounding how this will actually take place. Sorry for the word wall!
Regarding “The Trust itself will operate to accumulate JUP for strategic purposes.” - What does this mean exactly? Is it a constant DCA? Is it at certain price points, i.e. single sided liquidity? And is that JUP going into the community wallet or is it categorized as it’s own thing (The Litterbox, which is a bit nebulous tbh)?
What justifies a 78.5% increase in JUP allocation for Meow over a 5 year period? If it’s gated by a price for JUP, that’s a little better, but I still don’t see the rationale for why team member acquisitions (specifically their incentives) are being paid for by the community. Isn’t that what the team wallet/fun for? Typically (and let’s maybe make a false equivalency here) when a company brings in new members and wants to incentivize them with equity (which seems to be the reward mechanism here), that equity is split between current members. What is the justification for community fronting the bonus here? Also what are the amounts being paid out to these new team members?
When Meow gets his 500M JUP in 2030, where is it coming from - 220M is highlighted as coming from the community wallet (which I don’t love), but the other 280M (his current personal allocation) will presumably have been used to “front” JUP allocations to new team members. Where is that 280M that will be paid back to him at the end of this 5 year period coming from? Team wallet? JUP purchases via the treasury (so the Litterbox?) This is unclear and in my opinion a VERY important part.
In summary, I think the incentives paid out to expand Jupiter should be split amongst community and team, but the way this is being handled with Meow saddling the entire front but receiving a HUGE payout for it is a little strange (just my opinion!). Again, if there’s caveats here, such as price, I would love to hear them, although I’m not sure that alone would sway my opinion here. Thanks for taking the time to read my input!
TL;DR: I love Jupiter’s vision and the potential of the Litterbox but have concerns about how JUP accumulation works, the justification for Meow’s 78.5% allocation increase, and where his 500M JUP payout in 2030 will come from—particularly why the community is funding team incentives instead of the team itself.
It could be used for multiple things-
Funding asr perhaps?
Forming WG’s?
Sponsorship? Maybe
I think he 100% deserves a bonus. There’s no doubt about that. My concern is
If 280m from his allocation is fronted to fund new acquisitions (such as sonar watch, moonshot and the 2 other ones we have behind the scenes) - how is he gonna get those tokens back?
He’s already given it to them? So how’s he getting it back?
Exactly my point!
I asked it on call and never got a clear answer so it left me confused.
I’m 100% voting option 1.
I don’t care about the increase in circulation. It is what it is.
How much is each project getting?
How many brands are joining forces with us?
Are these brands getting paid more than the community?
Do they deserved this much when they are already getting paid from revenue?
Blockquote I don’t care about the increase in circulation. It is what it is.
I completely agree, also wouldn’t there be an increase in circulation if new team members are paid with no vesting/cliff either way, regardless of where funds come from?
The only way there isn’t a total increase in JUP in circulation is if we consider Meow’s CURRENT JUP to be in circulation, which I don’t, because that wouldn’t align with his vision to HODL.
I don’t see the benefits of Meow fronting this at all to be honest. Personally, if we want (as a community) to incentivize a higher JUP price, that incentive should be split amongst the entire JUP team in a clear fashion - Meow is awesome, but he’s not the only one working on Jupiter.
another issue. (question) . do you agree to change the logo?
JUP logo is good enough, people are familiar with it. A new logo can cause confusion and may affect the current user familiarity. This is my opinion.
I strongly believe that the majority of current JUP tokens should enter circulation. Once these tokens are released, concerns over future unlocks will be eliminated, allowing the free market to determine JUP’s true value based on the quality of its products.
Additionally, we should avoid a scenario where in 2030 we find ourselves revisiting the same debate on how best to compensate Meow despite having the funds now to to use to execute the 2030 plan. For these reasons, I will be voting for Option 1.
Not only that the “circulating” tokens being added in are going to protocols like moonshot, sonar watch and the other 2 big players we have onboarded (that haven’t been announced). If they truely are for $JUP success they ain’t gonna dump their entire bag.
If they do, then what exactly are they working for?
Regarding the voting content for 2030, I personally think it’s not detailed enough. For example, how will the 220 million be allocated, what are the specific uses, and what’s the timeline? I’ve noticed that JUP’s past project proposals always seem a bit hasty and vague, with some details only revealed after they’ve been passed. I hope the JUP DAO can become more refined and mature over time!
Guys Meow and team are making dozens of millions per month, jup.ag is worth billions, meow also co owns Meteora, basically owns good chunk of defi space, he is probably worth hundred of millions. He will never touch the Jup because to cash out even 5% of it he would bring price down below 10 cents. Its all a game, whatever you vote its fine for him. I promise you.
I think there is something else here in play.
Probably something like that if JUP from his allocation would start to move around, he can explain it with this vote. Could be that purpose of vote is simply to provide explanation for future transfers from his wallet.
I would definitely be in favor to use those 220M somewhere more productive, to use for expansion, growth etc, as meow with 280M in 2023 will have a billion value anyways, so adding more won’t change his life, but 220M well invested could change everyone’s.
I also think they are really trying to get option 2 through, but paying 220M so that 280M $JUP gets delayed??? That doesnt make sense, with giving Meow extra we would in total unlock MORE $JUP but at a later timeframe, 780M total and with option 1 we would unlock 560M just a bit sooner… horrible, horrible deal. Definetly voting option 1.
Don´t be lost in options guys, the only thing that matters is this, whatever happens, any vote, includes this: they will take 200M JUP from somewhere and they will sell it and pay devs, they say future devs, but it can also be current devs in the future
(still learning from all of you)
