There is enough time left before the upcoming Jupuary to think about the next two topics.
1. As you know, there is no exact information on what the next Jupuary rewards will depend on.
This information is not disclosed so that sybils do not farm this drop. Now many people manually and with bots purposefully make volumes on the Jupiter site in the hope of a great reward At the same time, they make farms (several accounts).
I suggest allocating the main part of the Jupuary rewards to JUP stakers (MAXIMUM J4J!!!)
This will reward truly dedicated and active community members
This will reduce the rewards for sibyls
This will make more people think about JUP staking
The rewards will depend on:
The strength of the voice
Of the total steak time
On the number of participants in the voting
2. A large number of coins are put into circulation on Jupuary
In order to reduce the load on the token, you can make a linear vesting of the reward stamp for several weeks or months.
This will reduce the sales pressure Also, give people the opportunity to demand the entire reward of 100%, but then you will burn 30%, for example.
The main problem with your proposal is that you will be affecting all the new JUP’s users that only started using JUP on 2024 and according to some stats, just this week Solana hit the ATH active wallets, so it’d be safe to assume that Solana is hot right now and a lot of new users.
Also, need to remember that JUP is a DEX and not a DAO, so there is no sense to reward the members of the DAO instead of the members of the DEX. DAO members already receive rewards that are ASR.
You want to still create external pressure to onboard more people. Closing off the ecosystem to only reward the users who are rewarded the most isn’t inclusive. I say staking duration is a better indicator. How long has a wallet stacked for or how long as a wallet had a certain amount concurrently staked for
The CAT has already stated that JUPUARY is a gift and meant to distribute to both existing, new and potential users. Considering it was the only Solana airdrop (w/ almost a million wallets) to be considered successful, I’m certain they will adjust but not fix what isn’t broken.
I would think using the fee based products could be wise and obv staking $JUP (multipliers?)
Truth is nobody knows and meow said the discussion doesn’t really begin until after snap shot to deter “farmers” in-organic use.
Please fact check me if I’m incorrect, but I’m pretty confident I saw these sentiments communicated from meow this year.
Fully agree. Tiers are a well designed pattern since this a DAO and it wont happen like Sanctum where the top 1% has 70% of the tokens and they alone would decide the path of the DAO.
I think this can be simplified so that it’s not complicated at the end if the goal is truly to get Jup in the hands of those who believe in the project. Prior to the first Jupuary, my guess is that there wasn’t a DAO. Now that a DAO has been established, functioning for a while, linked to ASR model and there are data sets there that can be gathered easily to reward true believers in the project, why labour too much to go out of that setting to include a huge range of others. Yes there is definitely some independent contributing factors that can be considered to reward others outside the DAO which JUP team surely have access to the data and can decide but focusing on the core areas that data can be collected to reward Jup holders is the best for me. If these qualifying data sets are collected from these various sources that brings value Jup & can be vetted to reduce sybills etc, Jup will end in the hands of those who’ve earned it. Simple as that.
Goal is also to onboard and concentrating governance is not the way imo. Personally I’d like to see a little bonus lump sum or just the ASR rewards are fine. Then Stake the jup you get from using the platform and products so it’s the same thing in the end…Loads of staked $JUP!
100% agree with the goal to onboard new people into the Jupiter community. That’s why I said there are other mediums out of the Jupiter DAO such as social portals, wallets that have bought Jup but aren’t staking it, others who are engaging in all sort of ways with the ecosystem in different ways but can’t afford it etc. So exploring these other venues widens the net enough to onboard. For example, I never received any airdrop from the 1st Jupuary as I missed the snapshot period but jumped onboard straight after launch buying my bag from Jup exchange and staking all in the DAO later. It can be fair to argue that if you like Jup that much and believe in it like any other project, you can’t wait for an airdrop first to be part of the project or airdrop can’t be used as the main way to onboard new people into the Jup community. Many big crypto project haven’t broaden their ecosystems through free airdrops. This has been done in the first Jupuary to broaden the community but also a lot of work has been done after that to identify those who believe in the project in one way or another.
Jupiter has made a lot of investments with working groups, social media platforms etc to educate and inform people about this incredible ecosystem, its strength and unquestionable value. If you truly believe in it, you can at least invest in the ecosystem to start with e.g. buy and hold the tokens etc or contribute in other non financial ways. If you do the later, my hope is that Jupiter ecosystem can pick you up through some criteria to onboard you through airdrop rewards instead of some random distribution to those who haven’t earned it one way or another. Hence Jup still gets largely in the hands of those who want to see it achieve its ultimate place in the crypto industry.
Many have similar views around this topic but if that’s not expressed when someone takes their time to trigger the debate like you’ve done, the DAO doesn’t get a good feel of peoples’ thoughts & feelings about the issue.
JUP is a DEX and not a DAO on itself. Why should the tokens go to someone that votes on the DAO (only for rewards) but doesn’t use the products of the DEX? DAO members already receive rewards that are ASR and that received JUP as a incentive.
That way you are mixing the JUP’s DAO and JUP’s DEX
ASR is not rewards for staking, it’s to increase participation in voting, ASR is to have consistent and active DAO discussions on topics. As we receive ASR you suggest we should not get any JUP from January!
Do you suggest we unstake and trade with our bags instead of believing in JUP and staking with a 30 day unstake period. We’re the people with the most conviction, 30 days is a long time for price to move about.
$JUP is not only a DAO token, it is a token of the Jupiter DEX platform. The token is also used for voting power. In the future, as Meow said, JUP staker holders will receive a percentage of their earnings from trading DEX Jupiter. And that’s okay. Whoever invests money gets money. This is how the economy works
Nop, never said that. I think all voters and JUP holders should get a % of the airdrop but a very small one. Our main goal with this airdrop should be rewarding people who used the DEX and mostly welcome new users to the platform. Yeah give a small boost to the ones who are already here, but if they didn’t use the DEX, why should they get a big cut if they never use the main products?
There could be a criteria for both having used the DEX and being staked in order to be eligible. If someone has staked JUP, votes actively with it, but never used the platform I’d tend to lean to think that this is a sybil. Who else would like a certain product, put money in it, determine it’s faith, but doesn’t use it?
