Currently, Jupiter ASR is funded with the leftover allocations from Jupuary. This seems likely to continue throughout this year. However, I have a different proposal:
Through the Jupiter Buyback program, 10 million JUP has been purchased and stored in LitterBox. The buyback program has only been active for 9 days. With a simple calculation, if 10 million JUP is bought back in 10 days, this amounts to 30 million JUP per month and 90 million JUP in 3 months. From this, at least 50 million JUP can easily be allocated for ASR funding.
My proposal is as follows:
DAO ASR funding should continue via LitterBox (after the current allocations are exhausted, meaning after the Q3 rewards).
The remaining amount from this year’s Jupuary should be burned (7B FDV is still too high, so this is necessary).
What will we gain from this?
Jupiter will start rewarding its own users using its own revenue.
Instead of giving away non-circulating JUP as ASR rewards, inflationary pressure will be reduced.
The film concerns a deranged German surgeon who kidnaps three tourists and conjoins them surgically, mouth to anus, forming the eponymous “human centipede”
We need to stop thinking in terms of “Money” or “JUP” in terms of something you get and it has value.
JUP is abstraction, that only has value, if people perform 2 actions
Swap USDC to JUP or
Swap SOL to JUP
Problem we have in community is you have 100+ people “on take” that get Free JUP through Grants, Work Groups, Rewards.
You have 700.000 people that get free JUP through ASR.
But very very very small number of people actually ever buy JUP.
Even @meow and many community leaders ( all “on take” ) believe that things magically gain value, if they are doing great job and adding value to Jup products, and products are becoming better and users are growing.
This has nothing to do with price of Jup, it does…in way… same as if… economy grows… or people get better jobs… but not in a direct way.
We must, find, a , way, to ENTICE everyone to buy JUP.
Here is a better proposal to ENTICE people to do that.
ASR will be funded from buybacks eventually. I agree that using the current circulating supply is better than increasing emissions. Emissions should be done when the community grows.
I disagree with the burning aspect of this. As JUP grows, JUP will be going into the hands of new users and holders. Eventually JUP will become very valuable as our products become better, and the user base and community grows
Stop being obsessed with FDV. Tokenomics determines if the FDV is problematic. Jupiter has a good and transparent tokenomics. The FDV is not a problem. The buybacks will control the supply. Currently, the buybacks will be more impactful than a dividend. Many do not see or understand why but buying JUP now is far better than buying it later when the Jupiverse is much larger.