The aim of this proposal is to explore the feasibility and potential benefits of integrating a real-time counter on the JUP platform that tracks the fees collected from the LFG Launchpad and channels them into JUP staking rewards. This initiative seeks to enhance transparency and accountability, providing stakeholders with instant visibility into how funds are being allocated and utilized within the ecosystem.
Objectives:
Enhance Transparency: By implementing a counter, users and stakeholders will have real-time access to data on the fees collected from the LFG Launchpad. This transparency is expected to increase trust and engagement within the JUP community.
Increase User Engagement: Knowing how fees contribute directly to staking rewards could incentivize more users to participate in both the LFG Launchpad and JUP staking activities.
Data-Driven Decision Making: Real-time data will allow users to make more informed decisions about when to participate in staking based on the incoming rewards influenced by LFG Launchpad activities.
Technical Considerations:
The counter would need to integrate with the existing JUP blockchain infrastructure to track transactions and fees accurately.
Security measures will be crucial to prevent any manipulation of the fee data displayed by the counter.
Regular updates and maintenance of the counter software to ensure it remains accurate with updates to the platform’s infrastructure.
Conclusion:
The introduction of a fee counter for the LFG Launchpad to JUP staking rewards can significantly contribute to the platform’s usability and the community’s understanding of reward dynamics. This proposal requests the community’s feedback and technical insights on how best to implement this feature to achieve the outlined objectives.
I like the transparency as well. Also, if I understand this correctly, this seems to be a counter that shows all fees collected by the Launchpad for all users. I would also suggest a counter that provides a count of transactions for the connected wallet and the total fees paid for swaps, DCA’s & Limit orders from the connected wallet of the individual. Some are creating a lot of volume on the launchpad hoping for an airdrop later. If you want to drive even more usage, let folks see how many times they made transactions and where they stand in comparison to others. Perhaps a leaderboard or at least a mention that they have more transactions than 53% of all other users for example. Seeing the numbers may motivate others to create more volume and engage the community even more.
Thank you for the great suggestion! Adding a personal transaction counter for each user’s connected wallet is a fantastic idea to boost engagement. It could motivate users by showing their activity level compared to others. We should consider integrating this feature in a second phase after establishing the main fee counter, taking into account privacy and technical feasibility. Let’s keep discussing how we can enhance user experience together!
I qualify my comment just because I don’t want this to turn into something that is rigid, then displays inaccurate information, resulting in bad actors posting it on twitter with a bunch of undue whining/engagement farming.
Love it or hate it, I have to give Kudos to BNB and how they manage their launchpads. Whenever a new project launches, they allow BNB stakers to “farm” the launchpool for e.g. 72 days, locking their coins in the process. They then all get farmed project coins - what a fantastic use case and incentive to hold on to your BNB! I hope we can do the same with $JUP!
This is great, while I cannot contribute to the technicals, as a user being able to see the rewards count increases my confidence in the protocol. Less technical users of Jupiter will def appreciate this !
As active DAO stakers and voters, we deserve to know the return we’re receiving for our participation. I think once people see the rewards we’re going to receive, more people are going to buy & stake, effectively reducing the circulating supply and driving up the value of JUP.
Just doing rough napkin math on what’s on the vote page, the 50M in JUP that will be returned to voters is roughly 25% of the votes so far. That means we’ll be getting 1 JUP for every 4 we’ve voted with, plus the fees earned on the other launches as well. I think providing transparency to the rewards will be a boon for JUP.
Very few people do this napkin math, actually. And this can be seen by observing the number of the votes and the staked JUP. There is around 20% of the staked JUP that is not used for voting. I assume there are people that think that staking is enough and they do not read the forums or Discord. So there will be some histeria after the first round of rewards are been distributed.
And I expect the first 3 months returns to be extremely huge especially because of this napkin math. On top you have the WEN fees, which are also a significant amount - something like 150-200% APY depending on how the launched projects perform.
So for the second 3 months there will be much more people staking and a huge increase of the price of JUP (this is my assumption) and will happen especially when all the YouTube start making videos of 200% APY by staking JUP and voting. And then we will see what will happen. For the second 3 months. I assume that this is exactly the reason that Jupiter team split the promissed 100M JUP for 6 months in to 2 quarters by 50M each. Because 99.9% of the people cannot do the napkin math and as soon as they realise what they have missed and it will be late. And with 2 quarters there will be still some time to join the party before it ends.
I’m there with you, my friend. We must buy the same napkins.
And to add a little bit more to the chain reaction of events that is going to transpire after the first disbursement of rewards… Not only will the price pump due to the hysteria from the size of the rewards and Youtubers, with more stakers/voters coming on board, it’s going to take a lot of JUP out of circulation. The reduced supply will drive the price up that much more.
