The Jupiter Team focuses on product development and is accountable to users. The rights and work of the Jupiter Team will not be elaborated on here.
JUP DAO focuses on the development of the JUP token and is accountable to the community.
A JUP DAO sovereign fund and foundation are established, with the fund’s assets initially consisting mainly of repurchased JUP and JUP staked by the community. Foundation members are initially nominated by the Jupiter Team and elected through community voting, with their salaries initially covered by the Jupiter Team.
Main responsibilities of the foundation:
1.Assist JUP DAO in achieving revenue growth and enhancing JUP token value/utility by distributing revenue/profits to JUP holders.
2. Develop and maintain the Jupiter community.
3.Build a talent pool for the Jupiter Team to prevent major internal disruptions within the team.
Thinking about the following three points:
How does JUP DAO generate revenue?
- Lending Protocol: Utilizing the sovereign fund (initially composed of repurchased JUP and community-staked JUP), JUP DAO can offer lending services for JUP and JLP, generating profits.
- Transaction Fees or Ecosystem Revenue: If the Jupiter ecosystem continues to grow, with subsequent products like LFG2.0 and JUPNET achieving great success, JUP DAO can take a share of the transaction fees or revenue generated within the ecosystem and redirect it back to the DAO.
- Partnerships and Grants: JUP DAO can collaborate with other blockchain projects or entities to secure partnerships or funding, such as integrating services or technologies in exchange for financial support.
How to develop the JUP community?
- Enhance Community Participation: Encourage active involvement in JUP DAO’s decision-making and development through governance voting, proposal mechanisms, and reward programs (e.g., staking rewards or airdrops).
- Education and Outreach: Host online or offline events (e.g., workshops, AMAs) to educate the community about the Jupiter ecosystem’s features and the value of the JUP token, increasing user awareness and loyalty.
- Transparency and Communication: Regularly publish financial reports, token audit results, and project progress updates to build community trust and attract more users to join and support the JUP ecosystem.
How to develop talent for the team?
- Training and Reserve Program: Establish a talent training program to provide community members or external candidates with training in blockchain technology, product development, or operational management, creating a reserve of talent for the Jupiter Team.
- Community Talent Discovery: Identify individuals with technical or managerial skills within the community through reward mechanisms or competitions (e.g., development challenges, current working groups) and integrate them into the foundation or team.
- Salary Support and Transition: Initially, the Jupiter Team covers the salaries of foundation members, gradually transitioning to independent funding by JUP DAO, while establishing long-term incentive mechanisms (e.g., token rewards) to attract and retain top talent.