I. Introduction
• Proposed changes to streamline the voting process and enhance community participation.
II. Objectives
• Improving transparency and fairness in project selection.
• Increasing community engagement and support for listed projects.
• Providing opportunities for small-funded projects with growth potential.
• Equal opportunity on every projects.
III. Proposed Changes
• Focus on One Project per Voting Round:
This change will streamline the voting process and provide greater focus on each project.
• Simplified Voting Question: Introduction of a binary voting question: “Do you want to deploy this project on the Jupiter Exchange?” with options for “Yes” or “No”.
• Community Participation in Hype: Token holders who lock their tokens and vote will participate in hyping the winning project.
• Simple Tasks for Voters: Tasks that voters will be asked to complete to support the winning project.
IV. Criteria for Project Selection
• Projects must meet some criterias to be eligible for consideration in the voting process.
• Examples of criteria could include project viability, alignment with exchange values, and potential impact on the community.
V. Transparency and Accountability
Measures to ensure transparency and accountability throughout the voting process, such as:
• Public disclosure of voting results.
• Establishment of an independent oversight committee.
• Mechanisms for addressing concerns or disputes.
VI. Community Engagement
Strategies for fostering ongoing community engagement, including:
• Hosting AMA sessions with project founders.
• Organizing community events or challenges related to listed projects.
• Providing open communication channels for feedback and suggestions.
VII. Incentives for Participation
• There’s an increased level of community involvement and effort required for supporting listed projects.
• Value of community contributions in hyping and promoting projects, leading to increased visibility and success on the exchange.
• Higher incentives are warranted to adequately compensate token holders for their active engagement and contribution to the ecosystem.
VIII. Educational Resources
• Provision of educational resources to help token holders make informed decisions during the voting process.
• Examples could include tutorials, explanations of key terms, and access to expert analysis.
IX. Promotion and Outreach
• Comprehensive strategy for promoting the Jupiter LFG program and attracting participation from a diverse range of token holders.
X. Feedback Mechanisms
• Establishment of feedback mechanisms to gather input from token holders and project founders on the effectiveness of the voting process.
PROCESS OF THE PROPOSAL:
Phase 1 - Expression of Interest: Reaching out to the Jupiter Team to express interest in participating is a solid starting point. It sets the groundwork for collaboration and demonstrates initiative.
Phase 1.1 - Criteria for Project Selection: It’s essential to have clear criteria for project selection to ensure that projects align with the values and goals of the exchange. Project viability, alignment with exchange values, and potential impact on the platform and community are all crucial factors to consider.
Phase 2 - Hosting AMA Session: Hosting AMA sessions with project founders/teams is a great way to foster transparency and provide educational resources to token holders. This helps them make informed decisions during the voting process and encourages community engagement.
Phase 3 - Simplified Voting: Simplifying the voting process with a binary question streamlines the process and provides greater focus on each project. It makes it easier for token holders to participate and express their preferences clearly.
“Do you want to deploy this project on the Jupiter Exchange?” with options for “Yes” or “No
Phase 4 & 4.1 - Project Winning and Losing: Listing the winning project on the exchange and encouraging community participation in hyping it, along with providing simple tasks for voters, strengthens community involvement and supports the success of listed projects. Encouraging resubmission for projects that didn’t win, with a minimum three-month period before resubmission, promotes continuous improvement and adaptation to community feedback.
Phase 5 - Incentives for Participation: Increasing incentives for participation acknowledges the increased level of community involvement and effort required for supporting listed projects. Adequate compensation for token holders encourages active engagement and contributes to the overall health of the ecosystem.
Phase 6 - Distribution: The distribution phase can remain the same as before or be adjusted based on any changes in the project selection process or community dynamics.
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