Wow great, thanks for sharing your experience! Love how we all ended up here (:
JUP Stakers actually already get 200M JUP form ASR and in my airdrop proposal 70M JUP additionally bringing it to 45% ASR + 15.9% Airdrop = 60.9%, so the point of @MrCricas is that stakers don’t need the extra allocation, and my point is that it’s not needed to allocate more than 10% of the airdrop (70M) since they would already be generously awarded with 60.9%.
It doesn’t make sense to see ASR as percentage of circulating supply.
Only makes sense to look at ASR as % of total JUP staked. ASR is currently 200 Million per year (50M per quarter) with 440 Million JUP Staked. That’s 45% APY if you ask me (or if you ask anyone else).
Sure if the amount staked doubles to 880M it will be 22.5% APY, but that’s still great!
Also you can get a significantly higher APY by not missing any votes, because the share of people missing votes goes to you.
I don’t have anything against stakers. I am staking myself. Staking and DAO is very important.
The ‘‘supply increase inflation’’ topic is a non-issue and stakers don’t need for example a 500 JUP airdrop on 1000 JUP worth of tokens, as some staking whales are suggesting.
That having said, JUP Stakers actually already get 200M JUP form ASR and in my airdrop proposal 70M JUP additionally bringing it to 45% ASR + 15.9% Airdrop = 60.9%.
That is up to 609 JUP earned in a year for each 1000 JUP held!
My opinion is that it’s not needed to allocate stakers than 10% of the airdrop (70M) since stakers would already be generously awarded with 60.9% (45% APY + 15.9% in my 70M proposal).
And my point of this post is that the team might want to be careful with letting to much of the Jupuary vote in the hands of stakers, since there is an inherent conflict of interest (nothing personal, that’s just the way it works if you vote about your own rewards).
" joined 1 day ago "
And crying becouse of stakers hahahah
Another coincidence I guess…
I just recently joined given I just started diving deeper into the Solana space. Personally don’t care as much as some of the others in the thread about Jupuary but as a new user what do you think the common view point would be?
Many people are claiming their existing stake is going to be devalued but what are the incentives for new users to join now and stake before Jupuary? Many people are just focused on their own personal profits…
I just found something really interesting which really drives down the point of this topic.
As we can see in this dashboard about the ASR vote below, everyone in the top 17 voted exactly the same! Which was to ‘‘Fund 1 more year of ASR with 50 Million JUP per quarter’’.
And the personal benefit of this vote passing for these 17 voters was between $457,740 USD for voter #17 and $4,606,684 USD for the #1 biggest voter.
The calculation for the above statement is: 200M ASR with 440M JUP staked equals 450 JUP ASR per 1000 JUP staked or 45% additional tokens ASR on top of the staked JUP.
I think my point about rewarding DAO voters in a non linear manner allowing smaller stakers the ability to catch up to larger holders is a good way to stop concentrating voting power in the hands of the largest whales. I am surprised you don’t agree with that aspect of my proposal tbh
Your calculations are wrong, APY is 20-25% for the upcoming year. Your calculations are assuming the numers remain the same for 12 months, which obviously isn’t the case. Receiving jupuary doesn’t require people to lock their JUP for 12 months while receiving ASR (which APY is 20-25%, not 40-45%) does.
1, Your math is incorrect.
2. ASR is not related to jupuary and is not meant to cover any negative effects of 50% supply increase. Should we also start taxing winning traders using swap because they made money using one of the jupuary criteria (as per your proposal)?
3. If we lock jupuary airdrop to everyone for 30 days and they receive 100% of it only if they keep it locked for 12 months + 30 days unlock timer, we can then state that DAO voters are receiving 20-25% + 15,9% = 35,9 - 40,9% (as per your proposal). Currently DAO voters would be receiving 15,9% and the ASR is not related, especially with wrong APY.
Not sure where you’re getting the 20%-25% APY from. Right now it’s 45%.
The math is really simple:
As the amount staked increases, the yield will slowly get less. For example:
Also if in a year it would grow from 450M to 650M staked, the average would be ~ 550M staked and the APY for that past year would still be 36.4% instead of 30,8%.
I also found something interesting. 211M out of 307M voted to fund the ASR for 1 more year. All these voted that it is totally cool that the top 17 wallets receive ASR with the exact same ratio as the rest hundreds of thousands of wallets.
My post of ASR math is waiting for approval, better not to paste it here but we can discuss about it there once its approved. 
I’ll later edit my comment and link the post there too.
I can’t wait to see it because it looks interesting! For the time being the stack amount will increase so it’s normal for the APY to decrease…
Yes it is completely normal, I was thinking its gonna go down closer to 3-5% as the current numbers are not sustainable. After doing the calculations, it will most likely end up somewhere there.
@JUPWhale is right with the APY right now but voters won’t receive the full year ASR right now. Therefore it’s a false claim that DAO voters are receiving 45% + 15,9%.
To be honest, I think he is doing it in purpose because he obv isn’t stupid.
Doesn’t it strike you that from the 17 largest holders, nobody voted for a burn? But still the total vote percentage for the burn ended up 27%? That means that at the lower limits more than 27% of people voted for the burn.
Anyways, like I said many times, it is important to fund ASR. I think ASR is great and we should extend it. I’m also a proponent of linear distribution. It makes sense.
I only pointed out a conflict of interest when it comes to voting on your own rewards. Now I’m being scolded for saying something here can be looked into and maybe improved.
And I’m saying 10% of the 700M JUP in Jupuary for stakers is fair, since stakers with $50+ staked represent around 7.7% of the total Jupiter user base of 3,885,443 users with $100+ volume. That’s why allocating 10% of Jupuary towards stakers is appropriate.
It’s totally normal to talk about APY in that way. Theoretically the amount of stakers could also decrease, you don’t know that it won’t. They likely will continue to increase, but none of us know at which rate.
When you to JLP earn it also shows the APY on a weekly updated basis. Although the reward source is not fixed like it is with ASR, it’s also not talking about JLP holders and pool increases and APY decreases etc.
To be honest I was surprised. I was personally about to vote for the burn but just before locking my vote I thought this is one of those votes which result is obvious and I changed my vote for the ASR extension (which I considered the obvious winner). I actually thought whales would be the ones voting against it more than smaller players.
tbh here your ratioing yourself, perps cost fees that generates revenue to the product, nvm if intentions states ‘farming’ meow has already mentioned there would be more rounds of jupuary thats the sole reason to attract more users and sustainability of JUP.
Look, this is not a game of morale. Although it’s morally wrong to “abuse” the system by farming, it is not illegal and as long as there is a way for someone to make money with it, someone will do it. I’m here for the money too, like the rest of us and I’m very open about my biases so no one has to guess.
I wish him all the best. Though it was quite funny as someone found his twitter post.
Despite the conflict of interest in the vote I think ASR is great and deserves a lot of support and resources. I would even go so far as to say the following:
There is 2.1 Billion JUP left to be allocated. Meow said he would like to have two more rounds of Jupuary.
Instead of using 1.05B for round #2 and 1.05B for round #3, we can just use 700M for round #2 and 700M for round #3. Like Meow said, we have to cut the fat and I’m sure we can all live with 700M instead of 1.05B.
That would leave the community fund with 700M JUP extra which could fund 14 more quarters or 3.5 more years of ASR!
With the extra 700M JUP we can easily extend ASR with 200,000,000 active staking reward per year / 50,000,000 JUP per quarter until mid-2028!
Together with remaining locked community funds, it could go on even much longer than that.
