Proposal: Expand ASR $JUP Pool by 10% to 55M JUP per Quarter

Proposals
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TL;DR - Once the current ASR pool is exhausted (“last” quarter is Sep 2025), utilize the combination of leftover JUP from Jupuary 1 and Jupuary 2 to extend ASR for three more quarters (“last” quarter June 2026) and increase the amount of JUP in the ASR pool per quarter by 10% to 55mm.

Introduction

After Jupuary 1, there was approx. 215mm JUP unclaimed. As part of this proposal, 200mm of the JUP went to extending ASR for 1 more year, through Sep 2025, at 50mm JUP per quarter, with the remainder (~15mm) sent to the Community Hot Multisig wallet. This was covered in the second community audit:

As part of the revised Jupuary 2 proposal, it was mentioned that unclaimed JUP from this Jupuary would similarly go to ASR. See below:

According to this Dune query, approx. 329.5mm has been claimed of the 500mm portion of the airdrop that was/is instantly available (NOTE: There is another 200mm set aside for Carrots and Good Cats that is yet to be distributed).
Assuming the Dune query is correct, and limited additional claims, this would leave approx. 170mm JUP unclaimed to potentially go towards ASR. Since the overwhelming majority of JUP was similarly claimed last Jupuary in the first two months, I think it is fairly conservative to assume that at least 150mm JUP will go unclaimed.

Proposal:

Accordingly, my proposal would be for the community to use 150mm JUP from Jupuary 2, assuming at least that much goes unclaimed, and the balance of 15mm JUP from Jupuary 1 to extend and expand ASR for three more quarters, increasing the amount per quarter by 10% from 50mm to 55mm.

The suggested increase in the amount of JUP in the ASR pool per quarter reflects the significant increase in amount of JUP staked. Please see below chart from https://catalytics.pro/jupiter/governance, highlighting the increase in staked JUP from around 380mm before Jupuary to over 600mm now:

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Although the 10% increase in JUP in the ASR pool per quarter does not keep pace with the approximately 60% increase in staked JUP, it should help further incentivize DAO participation. Notably, the increase in staked JUP has occurred with the lesser 50mm JUP per quarter planned for each quarter through Sep 2025.

Counterpoint:

Some may suggest that it would be preferable to extend ASR for two quarters, instead of three, which would allow for a much more meaningful expansion in the level of rewards (e.g. 80mm JUP per quarter). However, I personally would be against such a dramatic increase in rewards, even if more commensurate with the increase in staked JUP, since the shortened extension would have meaningful consequences, in my view, and such a dramatic increase would be unsustainable. Please see below thoughts on this.

Extending for Two Quarters (80mm per quarter)

Pros:

  • Higher short-term incentive: A larger per-quarter reward could drive even more participation in the near term.
  • Faster distribution: The remaining JUP are used up more quickly, which may appeal to stakeholders who want immediate disbursements for actively participating.
  • Stronger short-term engagement: Since the incentive is larger, people may be more motivated to participate intensely in DAO voting during the two quarters.

Cons:

  • Unsustainable growth expectations: A 60% increase in rewards could set an expectation that higher rewards are needed for continued engagement.
  • Condensed timeline: Jupiter proposals and products often take time to develop and materialize, and if rewards run out after two quarters, engagement in the third quarter may decline meaningfully during an important time for the DAO.
  • Potential inefficiency: If 50mm has already been effective in incentivizing DAO participation, increasing to 80mm might be unnecessary and lead to diminishing returns.
  • Risk of lower retention after incentives end: Once the rewards stop abruptly, participation could drop sharply.

Extending for Three Quarters (55mm per quarter)

Pros:

  • Sustained engagement: A longer reward period encourages steady participation and prevents a sudden drop-off in rewards and potentially DAO participation.
  • Better alignment with Jupiverse expansion planning: Since Jupiter proposals and products take time to develop, having rewards spread over three quarters helps to ensure continued motivation for DAO participation for longer; one quarter may not seem like much, but it is a 50% increase in duration relative to just two quarters.
  • More controlled incentive growth: 55mm is a more modest increase from 50mm, hopefully avoiding excessive inflation of expectations going forward.
  • Allows for data gathering: Extending over three quarters provides a longer window to assess participation trends and adjust future incentives (e.g. from JUP leftover from Jupuary 3).

Cons:

  • Lower per-quarter incentive: While 55mm is still an increase from 50mm, it may not generate as much excitement as 80mm.
  • Slower exhaustion of JUP supply: If there is pressure to use up the JUP pool faster, this approach of 55mm JUP may be seen as too conservative.
  • Risk of declining interest in later quarters: If participation grows very quickly, 55mm per quarter may eventually be seen as too little compared to the increasing locked JUP amounts.

Final Thoughts

Extending for three quarters at 55mm per quarter seems like the better option because:

  • It ensures a more gradual extension and expansion rather than a sharp increase in rewards and cutoff after two quarters.
  • It aligns better with the long term vision of the Jupiverse.
  • It hopefully helps avoid setting unsustainable expectations for future incentives.

If participation continues to rise rapidly, we as a DAO can always reevaluate and make slight adjustments. However, locking into an aggressive 80mm per quarter risks burning through incentives too fast while potentially leading to a sharp engagement drop when the rewards end.

I finally note that some may argue to leave the level at 50mm, since, as mentioned above, it is already attracting more staked JUP and DAO participation at that level. While I do appreciate this point, there have been several proposals and quite a few comments in the Discord reflecting a concern of diminishing ASR relative to staked JUP, which I think is a valid concern, and hopefully this proposal would help address.

Thank you for taking the time to read all of this! Hopefully, as a DAO, we can decide on the best path forward.

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Thank you for putting a lot of thought into it and for looking at the matter from several angles. In my opinion the proposal certainly deserves a substantial community discussion.

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Interesting idea WTP

I wrote a similar thread on X

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Great proposal @WTP! Love to see other people taking the ASR baton and running with it. We need as much support as possible. Investors’ voices need to be heard.

We don’t mind price going down as long as ASR is given the attention it deserves.

It spurs MASSIVE engagement with the DAO which is why other projects are copying ASR.

Only thing I disagree with in this proposal is the 10% increase.

ASR should be doubled for at least the current period (Q1 2025).

Jupiter should make a statement that captures people’s imagination.

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Thank you, Lochie. Interesting ideas from you, as well. I would note that Q4 2025 (October - December) ASRs are not set yet, unless I missed an announcement. I believe the current ASR pool of JUP rewards is set to be depleted in Q3 2025 (July - September).
I think I highlighted above some of the concerns about expanding the JUP in the ASR pool dramatically as opposed to more gradually, but I do understand the appeal of doing so, and the potential short term benefits, which could turn into long term benefits if we are lucky and we get someone to come and join the community with a great idea who otherwise would not have. It’s definitely a tradeoff, and I’m not sure how we get a perfect sense of the community preference.
One other big outstanding question is how the team is currently contemplating distributing the carrots, since it is difficult to compare your suggestion, of using a chunk of the carrots piece to bolster ASR, to the alternative (since we don’t have full details on the alternative haha).

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Yes you’re right, I over estimated

Either way it could easily be tweaked to include a 4

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Yeah good point

At first I like the idea of carrots - particularly the stake n vote carrot (now amended)

However since we are now in march and there is no carrots so far, I wouldn’t oppose to ditching the idea.

ASR is my main concern rn

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55M won’t even be enough to keep up with the initial ASR rates. I’d personally prefer keeping the amount the same and extending ASR for a longer period instead

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So you’d be unhappy if ASR were doubled tomorrow?

I can’t wrap my head around why any dao member would want less ASR rewards than more

Genuinely curious to know your reasoning @JUPTurkey

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I think the concern is the short vs long term tradeoffs. Using the doubling example, that means literally one less quarter of incentives than if we had used that 50mm to extend ASR for one quarter instead of expand/double it. Either meow or Julz or both mentioned that a lot of cooking has been going on, but not as much shipping. I think some of the major initiatives like jup.net and jup.com are going to take some time to materialize/ship. There are therefore very likely to be some very important votes down the road on products and initiatives, and trading extra time for those to develop with an incentivized DAO, for less time, but a more incentivized DAO, seems like a risky trade off. Appreciate others have differing views.

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The reason I said double it is because crypto is ultimately an attention game.

When markets are weak it’s a good opportunity to double down and show your strength relative to other investments.

Jupiter’s buyback system is working at a rate that could cover ASR rewards quite easily, so there’s no worry about sustainability.

The question ultimately comes down to how ambitious does the team want to be with regards to ASR and keeping the DAO exciting for newcomers while also rewarding loyal holders.

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