Token

Jupiter

when

Rewards

As the week began on October 21, the much anticipated second instalment of Jupiter’s (<a href="https://yellow.com/asset/jup">JUP</a>) Active Staking Rewards (ASR), where 17% of the <a href="https://solanafloor.com/news/why-have-54-jupiter-asr-recipients-claimed-less-than-10">token remained unclaimed</a> causing a dip in its value. 
For the Solana ecosystem, Jupiter ASR is a major quarterly liquidity event as it promises to supply tokens to stakers. In this quarter, the ASR was slated to distribute 50 million JUP and 7.5 million<a href="https://yellow.com/asset/cloud"> CLOUD </a>tokens to stakers who were participating in the governance. 
Crypto traders have claimed $43 million JUP tokens within two days of the Jupiter ASR event. An analysis of these stakers' analytics revealed that 36% of the staking happened from unique wallets. 
All through the year, JupiterDAO worked to be the most engaged and largest community in the crypto world. They found out that 424.9 million JUP tokens were staked to the governance protocol by more than 605,000 unique wallets. 
Although this is the biggest DAO in the crypto space, not many have claimed their ASR. Only 36% of the total crypto wallets staked claim. So, 218,414 wallets came forward to claim their allocation. 
The JUP token's only use is protocol governance as stakers vote on proposals to be eligible for a proportional share of ASR rewards. To ensure voters are aligned with Jupiter’s growth long-term, all staked JUP is subject to a 30-day unlock period. 
This makes it surprising that more than 390,000 crypto wallets haven't claimed their ASR rewards yet. Analysts see no reason why these wallets will stake JUP but not join in governance to reap the rewards. Also, it looks like most claimants have got small allocations when it is compared to the total claim volume. 
Those voters who are claiming $1,000-$10,000 worth of ASR rewards only constitute 30.9% of the total volume of the claimed assets. The most important part is that the number of crypto wallets that have claimed less than $10 is far more than other group sizes. This indicates that a majority of voters have less than 100 JUP staked. 
About 86.72% of the voters claimed Jupiter tokens worth less than $100. This number is higher than the 79% seen in the first ASR claim. This happened despite new criteria to Jupiter governance which mandated voters have to stake over 10 JUP to be considered eligible. 
All these statistics point towards smaller wallets controlling the majority of the staked JUP. However, this can be also due to Jupiter stakers dividing their holdings into multiple wallets to get favourable allocations in airdrops. 
Along with JUP, CLOUD also went down 7% because of the ASR. However, CLOUD had a higher claim rate as 99% of the 7.5 million allocated tokens have been claimed. This might be because of the immediate availability of CLOUD as it is directly added to the staker’s wallet instead of the 30-day unstaking period of JUP. 
Unfortunately, CLOUD holders experienced sell pressure after the ASR event as the token slid from $0.39 to $0.36, registering a 7.6% decrease. 
As of October 24 evening, <a href="https://coinmarketcap.com/currencies/jupiter-ag/">JUP is trading</a> at $1.02, up by 1.28 in the last 24 hours while <a href="https://coinmarketcap.com/currencies/sanctum-cloud/">CLOUD is at </a>$0.3793 up by 5.57%. The market cap and the trading volume of Jupiter have also increased in the last 24 hours by 1.2% and 10.82% to reach $1.37 billion and $262.18 million respectively. While Clouds’ market capitalization remains unchanged at $66.91 million, its trading volume has increased by nearly 60% in the last 24 hours to reach $4.32 million.

Holders Divide Jupiter Token To Smaller Wallets, Most ASR Claims Less Than $10

Yellow News

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