Cool no negativity from me at all. Sorry if I upset you.
Iām not upset for my own sakeā¦ we are all at different stages of our journey and I know there are a lot of people who are new to the space who are being influenced by what they consume hereā¦ We all have different reasons why we trust this team, how informed we are with their announcements, etcā¦ For new people it could be information overload if we arenāt focussing on the task at hand and it could detract them from whatās important. We can see this DAO is special with how we are proceeding with this second vote, how the team listened to the community and addressed concernsā¦ I believe we need to major in majors and not minorsā¦ There is a time and place for everything and we canāt help each other if weāre fudding or distracting each other. Whales got to be whales cuz they KNOW how the space worksā¦ we are lucky enough to be able to learn from them and they are more than willing to engage and share their point of view. We all see enough garbage on Xā¦ just want this forum to be a special place where people can get informed and focus on whatās important.
1 Like
I understand your perspectiveā¦
Who decides though on whatās important. I think having a voting system that is not biased is more important to get right, before voting on subjects like jupuary. Just simple logic.
I believe this is a valuable topic to put out there with already some good contributions. It is frictional I understand. I donāt think it is harmful. People arenāt stupid right, by not addressing the elephant in the room it creates mistrust.
Itās nothing special about Jup DAO, except the size of the DAO. The DAO is so big because of ASR and Jupuary. Just for staking everybody was hoping to get a piece of the pie.
The only way you can keep this DAO so big is with this staking ponzi scheme. Itās going to work? For a while, for sure. However, the pie is that big. Some day, like it or not, youāll have to tell the stakers āthe pie is goneā. Whatās after that?
I challenge you to watch the numbers that really matters for an exchange. Keep an eye on these numbers if you care so much about the future.
Iām an average staker and a decent perps trader. Theyāve lost me on the first proposal. Not because of what Iām going to get, if Iām going to get anything. Theyāve lost me because of their cockiness and because they took me for granted.
At this point in time, I donāt give a shit whatās in the bag for me. As soon as I get my ASR and, eventually the rewards from Jupuary, Iām so fucking gone.
You guys will, eventually, dump on each other. This is the only outcome for a token distributed between few hundreds of wallets. There is no other way.
So good to see people change their votes
That is evidence that they care !
3 Likes
There are a lot of people who care. Thatās true. Some others felt left out even though they got rewarded already quite a lot. I think most of the drop needs to go towards new users though as this means more participants will get more voting power. Ultimately the team will need to re-evaluate the entire mechanism though. Good it got so much support finally but in a way itās only because some people couldnāt live with stepping backwards and giving this gift to others.
You are at your 40s with few millions invested. Then there are 9 collage kids who donāt have the same financial skills yet. They have 100 each invested. Now we vote about a financial decision. 9 collage kids think similarly but a guy with few millions and more experience thinks differently. Should we let these kids decide what happens with everyones money?
Iām all good each person having 1 vote when we decide about a background of a jup mobile app, whatās the best animal or choosing the next LFG project, but when itās really a financial decision, then let people with more invested have more say.
3 Likes
One should definitely respect success. But then those successful people should not have a much bigger vote in a situation where it becomes more about them than whatās best for the ecosystem. Logically whatās best for the ecosystem is you would want to onboard new users by giving them a meaningful airdrop that can then be staked. If you reward existing stakers the pie gets too small. Especially when they already are getting rewards. This was so obvious in these two last votes. I wonder how many of those successful people are in reality simply people who benefited from the first airdrop. Having a lot of money doesnāt always equate to being wise.
1 Like
I agree, I donāt personally connect the words money and success. To me success in life is so many other things than money. I know lots of jerks with lots of money and lots of great people with very little money. There certainly are risks that people start abusing power, I think itās actually natural that people who have power will abuse it one way or another. Itās in human nature.
In Jupiters case, the team still has the ultimate power as they decide what goes to voting so we sort of have to trust them not to put votes which could be abused.
I can also understand why the current vote could be seen as one, however the ultimate power is still within the team. The team did not talk anything about the numbers going to stakers. They could in theory allocate very little to stakers/voters and that way push +90% of the 700M for traders for example.
Itās now all about trust, the team promised something for bigger stakers and the bigger stakers decided to trust the team to give them enough for them being comfortable. If the team decides to ābetrayā the big stakers by giving just like half percent of jupuary for them, the bigger stakers would just leave, which would mean the price of JUP would perform poorly due to excess sell pressure and I think that would dissapoint pretty much everyone.
I see the situation now that the bigger stakers are happy and trust the team, they are willing to keep staking and supporting. I expect team to give good chunk of the jupuary for growth purposes too and as we find a happy balance between every section of the community, big majority will be happy and bullish and JUP will perform the way it deserves to perform. I strongly believe there will be lots of happy people during this bull market when it comes to JUP.
Also to be clear, if for what ever reason the team would have proposed that everything goes to stakers, I would have absolutely voted no for that because I understand that as many people as possible has to be happy with jupuary so we all get the most benefits from it. Be it personal benefits or project related long term benefits.
3 Likes
I like your take. Makes a lot of sense.
3 Likes
well i oppose this claim iāve seen you pretty much leaning towards opposite, you already had your intention marked like many others (including simp, jazy and habibi) but unfortunately it wouldnt workout knowing somehow which goes against teams interest and jups ethos, you got aligned.
im sure if i dig more ill find tons of with similar corresponding interest. anyway just my thoughts good luck and after all rapacity is part of human nature kudos.
If the team would propose that everything would go to stakers, it would make big majority in this community unhappy. It would cause FUD and lots of people would leave Jupiter. The stakers in this scenario would be left with huge bags of JUP but those bags would become worth much less compared to if we manage to make the big majority happy.
Simplified example, I will rather have 1000 JUP holdings and fully aligned & bullish community than 10k JUP with everyone leaving the project and selling their JUP.
I definitely want personal benefits but me and everyone else gets the best benefits when everyone (or the big majority) is happy.
2 Likes