Personally I think the 70% threshold was a horrible idea and indisputably undemocratic.
30% of voting power, basically 200 whales decides which way the vote goes.
This is after a promise by the team to continue Jupuary.
For me, the no vote so far, the decision for 70% minimum threshold on a vote and seeing how many came out against this makes me question the collective intelligence of the DAO.
Look at Hyperliquid, positive community engagement translates to token price. If you can’t see that, then you deserve to rot and see your money whither away while you turn this into a stake ponzi.
The Jupiary 3 and 4 was promise to the Comunity long time ago before Stakers came on Jupiter after Behind all this proposals are the Stakers.They came on Jupiter because of the ASR…The ASR is coming from the traders fees and activity.Now the Stakers put the eye on Jupiary…All this mess is happening’s because of Stakers…NOW they want the Jupiary ffor themselfs like hungry greedy WOLFS
90 percent of participants in DAO voted Yes less then 10 percent which is Whales stalkers voted No because they want to manipulate the Jupiarry.Why it didn’t pass then???
I voted no, because we are in the middle of the end of the bull market and seeing your investment dilute a 14% it is not pretty comfortable. maybe you will need to specify when you will put all these tokens in circulation. maybe 7% in february, and 7% in may. So people can know when they need sell or buy, maybe things goes nuclear and we can tank the diluition.
Jupiter is a Trading Dex!!traders are the core and the heart of the community !!They are millions!!they don’t need this staking!But the decisions is taken buy the stakers whales from DAO which is not in favor of traders!!I think the DAO doesn’t fulfil the interest of the community!!Just the interests of a few stakers!!Look around-Hyperliquid don’t have this whales!!The traders up there trade and flourish !!and the HYPe coin goings up!!!
Imagine a situation where the whales migrate elsewhere. A perfect condition might be created for those whose created it to take advantage and short the coin. So everybody is important for checks and balances as well as stability of the project- both the whales and the traders
Those who voted no are the same guys that move their money where the money goes and they pretend that they care for the future of Jupiter, but the future of Jupiter are all of the catdets together and all of them should be fed.
Again, look at Hyperliquid for a recent example of a user based, community approach for allocation.
Token price performed incredibly well
Meanwhile a few stakers would like to convince the world that the Scroll approach of linear allocation and insiders is optimal
Whales want to to drain as much as possible as quickly as possible, theyll say as much when they advocate for Jupuary being essentially a stakers ASR 2.0, or cancelling it entirely and allocating more to ASR
Once they’ve collected the lions share of the yield, they will leave.
In my opinion the DAO should be changed.we need to cancel the system of voting points.For the future of Jupiter !!I propose that all the voting power to come not from staking but from Trading Volume!!Users with bigger volume to have more voting power !!Like this the DAO wil serve the trading community of million of traders!!and the traders will not suffer from the ambitions of a few hundred whales!!
agree, people like him making me click on NO again kekw
“The best thing to do is to understand the rules of the game and find a way to win. Yes the game is rigged. Yes the richer always get richer. Yes the poor always gonna struggle. And that’s the way the game is set up. So you still need to find the best move on the chess board. There’s no point sitting there saying I wanna play a different game cause that’s never gonna happen.”
