Very nice proposal and thoughtfully written
5 Likes
I think so long as incentives meet the user threshold as they have previously, that would be enough to promote restaking
4 Likes
The proposal is okay, it will encourage long time holder and rewards daos members.
7 Likes
Good proposition ! Not very sure about the increase of the unstaking period, but otherwise I think it could be a good thing to, find an utilitie of the unclaimed jup and incentive the gouvernance
3 Likes
I disagree with several aspects of this proposal
1.On paper increasing ASR rewards per quarter might seem appealing and promoting that more staking and earning opportunities ,but this approach ignores the long-term consequences of such generous distributions
2.By allocating 55 million $JUP per quarter, we are incentivizing short-term voters who will likely sell off their rewards as soon as they unstaked them ,This results in massive sell pressure at the end of each quarter, which has a negative impact on jup price
3.While I support the ASR mechanism in principle, especially since it promotes active staking and governance,also adjusting our strategy to prevent inflationary effects.I propose reducing the current allocation of ASR rewards from 50 million jup to 40 million or less per quarter. This will still encourage participation without the risk of over-inflating the token supply.
4.We should instead shift our focus toward increasing the percentage of rewards coming from LFG project launches, diversifying rewards
5.more sustainable way to enhance the value of jup would be to burn 50% of the unclaimed tokens as Currently jup does not have a burn mechanism in place, with a governance vote to establish a burn process during each Jupuary event could significantly lower FDV
6.The proposal to extend the unstaking period from 30 to 45 days will likely discourage staking participation rather than encourage it,a 30day unstaking period is already reasonable and strikes a good balance between commitment and flexibility
I got some more points but I would suggest my current points to improve the current system
7 Likes
Such a great suggestion but reducing from 50 to 40 million will still discourage some members because them may end up receiving little allocations after the ASR program. Too me 50 million still okay because when more people join the Daos it may affect the distribution and also give room for whales to manipulate the ASR program.
5 Likes
From my understanding, there are approximately 7 billion Jup tokens after the recent vote to reduce the supply by 30%. Itâs also clear that all airdrops, ASR rewards, and similar incentives come directly from this 7 billion or are recycled from unclaimed portions of previous programs. Therefore, whether we like it or not, these tokens will eventually be released, and we cannot fully control how the market will respond, despite any safeguards we implement to prevent mass selling or dumping. The best way to mitigate this is by focusing on building Jup into the top DEX aggregator, staying committed to achieving our roadmap and beyond.
In my view, once these tokens are released as planned, the market will adjust naturally, and we should move forward. Weâre not creating an additional 10 billion tokens; we are simply minting the agreed-upon supply. So, why are we overly concerned when the release is inevitable and part of the agreed supply? Can you suggest any other ways these tokens can be distributed within the ecosystem without affecting the price fluctuations and without restricting too much on the rights of those whoâve earned it? By shifting our effort on increasing LFG tokens from LFG projects to Jup holders are we not indirectly causing the same negative effects you are worried about to those other projects that you are trying to avoid with Jupiter & doesnât that in some ways go against our PPP values?
4 Likes
Good write upđ¤, one of the factors I think will help the price fluctuations is the 30% burn proposal meanwhile the amount that will burn is not related with price bullish, the jupnuary that âmayâ later happen, all the token allocated will not hit market immediately the way the last airdrop doesnât hit market immediately, the total circulating supply doesnât even reach one billion presently, because the next last jupnuary over 2 hundred million was not claim, if jupnuary happen again the same action will still repeat itself. More bullish new we still come when jup announced mobile app and GUM program. Team working everyday to onboard new users ,new jup holders. The community is growing everyday, the way more people join Jupiter the higher the jup token holder.
Tell your friends, colleagues about Jupiter it will increase the community and helps to maintain price stability and the PPP factors is for the long time holders not instant price even team are locking their own token till over two years as stated by meow.
Jup is for the future!
7 Likes
Thatâs right @NightOwlđđż thanks for your feedback as well.
3 Likes
I would suggest you go back and read what youâre saying because youâre unnecessarily throwing around terms like âPPPâ and âvaluesâ without fully addressing the core issue. Yes, those tokens will eventually be released, but the way they are distributed matters greatly. Distributing such a large amount of tokens in a short period to short-term holders or airdrop hunters will inevitably lead to market dumps.Weâre not trying to avoid releasing the tokens,weâre trying to protect the market and the community from excessive selling pressure that would crash the token price
Weâre here to build for the long term, itâs about doing it in a way that keeps the project strong and the community engaged for the future
Which is a true âPPPâ
0.75% of the supply from LFG LAUNCHES is not a significant amount in the grand scheme of things. Weâre talking about a relatively small portion of the overall supply, which is much more manageable and less likely to cause a drastic market reaction or dump
2 Likes
If the goal was just to attract short-term holders and airdrop hunters, we wouldnât be spending so much time debating proposal after proposal on how to proceed. Iâm not sure if youâve been keeping up with what @meow has repeatedly emphasised, but itâs important to note that the first airdrop was designed primarily to reward those who engaged with the Jup ecosystem one way or another before the DAO was created, among other objectives. However, @meow has made it very clear that no subsequent airdrop will take place without a DAO vote, ensuring the community agrees with it. After the vote, there will be thorough debates to gather feedback on the criteria for the next airdrop. We can be in here debating each day but there are many traders out there who spend tons of cash trading Jup each day and we canât decide what they do with their tokens. There is always going to be dumping risks even from long term holders especially in the middle of a bull market. Most the team can do from my point of view is try as much as possible to ensure much of the criteria considered leads Jup to the hands of those who have proven to care much about the project by holding, staking etc their tokens or contributing towards growth of the ecosystem one way or another. But another vision of the airdrop is to bring more people into the Jup ecosystem. Whatever criteria is used to reward those new people canât guarantee for certain they will receive their airdrop and get locked into the system and you canât put a lot of restrictions in place for the sole purpose of locking them in. There must be a balance.
You may assume many participants will be short-term users, but remember, similar assumptions were made about you. Yet, you stayed because you recognised the long-term value in this ecosystem and chose to be part of the larger vision. Why assume others wonât see that same value after receiving the airdrop and learning more about the Jup ecosystem?
Itâs also crucial to consider that imposing too many restrictions on how people claim or use their tokens can negatively impact the ecosystem. While token price is important, it shouldnât be the top priority at this early stage. Our focus should be on building value and growing the community, which will naturally reflect in the tokenâs value over time.
Lastly, if we expect others to contribute more tokens through the LFG launch, we also need to consider the fairness toward other projects involved. There are many reasons why they would raise concerns and thatâs a valid point we cannot overlook.
6 Likes
Great writeup I did have a question were we going to vote on continuing ASR before the unclaimed JUP? Or was the plan always to extend it with the unclaimed. Or is this an addition to the proposed ASR? I apologize for the confusion just trying to understand if this is taking the place of funding the ASR or in addition?
5 Likes
The plan is whether the ASR vote approved or denied by daos the next ASR will take place by first week of Oct or second week, the ASR for second quarter have been scheduled already stated by @meow yesterday on platenary call yesterday. For the unclaimed jup Will be decide by daos to extend the program or burn the token, definitely it may use to extend the event of ASR every year maybe for two more years.
6 Likes
I know the next one is planned. I guess my question was if the following ASRâs were only ever planned utilizing unclaimed JUP or if the plan was in place before the unclaimed JUP was known?
3 Likes
Because there has been a lot of proposals around what to do with the unclaimed Jupuary Jup with somewhat a sizeable majority suggesting it gets redistributed to the community in some form, @meow proposed in one of the recent planetary calls that the 220M Jup be used to fund future ASR but this will only happen after a vote & if the vote FOR this proposal is successful. This vote is planned for next week. Surely after that vote or in the proposal itself, there will be clear guidelines on how this will be divided towards future ASR. But @lochie2001 had a brilliant proposal on how this 220M Jup can be allocated towards the next 4quarters following the October ASR if Meowâs proposal passes.
3 Likes
ASR vote is next week confirm my @meow.
It seems like the only questions we are voting on is
A) fund next ASRâs (4 I believe)
B) BURN THOSE FUCKERS AHAHAH
I think the asr will be an easy vote.
After the gore next QRT asr starts
3 Likes
Tysm! Iâm very proud that the team make reference to my posts in here and are ACTUALLY READING and TAKING OUR SUGGESTIONS.
I love what meow and the team are doing. It makes me humbled to talk to such great people.
5 Likes
I agree with all and would vote with both hands, for the only exception of the 45 day period. I think that becomes way too long of a period
2 Likes
I dont think so. most people are saying that bc they wan to unstake quicker. i feel if we are gonns reward more, the unlocking should be increased.
5 Likes
Exactly. There needs to be a balance. The longer you stake the more you get. As I mentioned earlier, it would be cool if there was some sort of ladder where people can choose metrics like unstaking timer and are rewarded accordingly. The more one is willing to risk the more one should be rewarded and vice versa.
5 Likes