Introduction
Following the conclusion of the claim period for ASR Session 1 on July 31st, 2024, approximately 4 million JUP tokens remain unclaimed by ASR participants. This proposal aims to proportionally redistribute these roughly 4 million unclaimed JUP tokens to all participants who successfully claimed their tokens during ASR Session 1. This redistribution would result in an estimated 8-9% bonus for those who completed their claims.
Rationale
The ASR initiative has been a resounding success, drawing significant attention to our ecosystem and encouraging active participation. However, participation should not cease once a vote is cast. The ongoing circulation of JUP within the Solana ecosystem is essential for extending its reach and impact.
Proposal
The DAO should entrust these unclaimed tokens to individuals who have demonstrated their commitment through staking, voting, and claiming. The procedure to redeem the tokens will or should be as similar to the initial claiming process as possible. A brief additional claim period (31 days, perhaps) will be established, allowing eligible participants to claim their proportional share of the unclaimed JUP tokens within two weeks (or as soon as technically feasible) after this proposalâs approval. These recipients may then choose to distribute the tokens to new participants, utilize them in other Solana projects, or keep them staked them to further support the ecosystem.
Conclusion
Those who claimed their tokens have fulfilled the final step of their ASR journey and, in doing so, have contributed to our collective progress. The DAO can acknowledge their dedication by redistributing the roughly 4 million unclaimed JUP tokens to these committed community members, who have shown their willingness to engage fully in the process. The ASR program, as the first of its kind, has proven immensely successful, and this proposal seeks to reinforce that success by rewarding and empowering its earliest participants with the unclaimed tokens.
TLDR; This proposal aims to proportionally redistribute roughly 4 million unclaimed JUP tokens to all participants who successfully claimed their tokens during ASR Session 1. This redistribution would result in an estimated 8-9% bonus for those who completed their claims.
Fully on board with this suggestion, I hope it goes to a vote as its only fair that season 1 ASR claimers receive the allocations left over by those who didnât
Thank you for taking the time to post this proposal. I think it is a very good potential use of the unclaimed JUP, for the reasons you described. However, I personally think using the combination of this JUP, the unclaimed Jupuary JUP, and future unclaimed ASR and Jupuary JUP tokens to extend ASR for as long as possible would be a slightly better use, since it would hopefully ensure voters continue to be incentivized to be involved and participate in the Jupiter ecosystem for longer. I say all of this sincerely, since I would personally stand to benefit from the 8-9% bonus, as well, having voted in every proposal last quarter. I just genuinely believe extending ASR is slightly better than enlarging ASR.
Those are excellent points, and I agree that ASR longevity is going to be crucial as well for the DAO. What the issue for me, is that after every ASR claim period, if we do not incentivize ACTUALLY claiming your JUP, there could be some larger amounts left over (which intrinsically is not good).
I address this as being the reason why I feel its important to have those JUP available earlier rather than later.
The ongoing circulation of JUP within the Solana ecosystem is essential for extending its reach and impact.
I would personally rather see other methods of âfundingâ for more long term ASR rewards, and do agree that longevity of ASR is imperative for the longevity of JUP and the DAO.
Yes i agree, but we shouldnt simply give it back to people who claimed their ASR round 1, but each round there would constantly be unclaimed asr.
I think the best thing to do (presuming ASR votes pass in future) is whatever is unclaimed goes to the next. theoretically ASR rewards could be bigger each round causing more people to lock up their JUP and vote!
I think limiting redistribution to only those who claimed Q1 asr, is a difficult vote to pass. For instance, I wouldnât vote âYesâ if I did not claim.
I think unclaimed JUP should be added to the next ASR for all voters on the Q2 proposals.
If we carry rewards over, previous voters are earning less when they should be rewarded more. Seems unfair for 1st claimers not to at least get a chance to receive the full allocation. Maybe give a small period once the claim period is over, a week maybe, for 1st time claimers to claim the left over ASR before they are finally rolled over into the next ASR programme. I do like the idea of incentivizing further voting this way.
In the very basic logic if there are 4 mil JUP unclaimed from ASR and this gets added to the future distro giving an exta boost of 8-9% this should be a good enough reason for all those that did not stake their JUP yet, just do that and net a 20-30%+ interest on your funds for a period of 3 months.
I think that many back-off from staking due to 30 days unstaking window, but i do agree that this was built for those that want to keep being around the ecosystem for a more longer timeframe + minimize token dumping.
In the other scenario those 4 mil JUP can as well be burned, as reducing
supply will always increase value over time, until the demand is there.
Your reply is kind of a paradox. You are saying it will be difficult to pass, but this vote affects 91-92% of the voting base that actually completes claiming. Meaning that 91-92% of active voters would seek to benefit from this proposal. If anything it should be easier. If you were among the 8-9% that did not claim, then voting âNOâ would still leave you in a minority.
The idea is to incentivize the actual claiming so that as little JUP is left over after each ASR, AND we can further JUPâs reach within the ecosystem as explained in the RATIOINALE secion.
How does what you are suggesting incentivize people to actually claim their JUP and utilize it in the ecosystem or keep it staked? I am suggesting rewarding early contributors as well; people who really want to participate in the growth of JUP.
as outlined in the CONCLUSION section;
It is about the message that we take care of our own, and want to encourage growth by incentivizing claiming.
I like the idea, seems fair.
I will add a lock/vest period. Encouraging to claim on a scheduled boosted multiplier? Would be fun and healthy to see people waiting and strategizing their claim.
Allocation will be added to their voting power.
But people that donât claim the ASR in 30 days claiming period
I donât think most of them will be able to claim even if after another 30 days is set to those that claim
There will still likely be people that will still come back after the new 30 days is introduced to claim that they donât know another claiming window is opened