Solana

Jupiter

DeFi

Jupiter, the Solana DEX and trading aggregator, is preparing for two more Jupuary events. The token distributions were key to the exposure of the JUP token and the engagement of the community.&nbsp; 
Jupiter is starting a vote on two more token distribution events, modeled after the first Jupuary in early 2024. This time, a super-majority vote will determine the distribution of 700M JUP for each event.&nbsp; 
The continuation of the Jupuary events will sway the token holding structure of Jupiter. The project aims for an equal share of rewards for the team and the community and is one of the few widely used Solana-based apps sharing its earnings. 
The first Jupuary happened during peak airdrop seasons and was one of the high-profile events that built up Jupiter’s influence. The platform aims to repeat that success, expanding beyond merely a Solana DEX and DeFi protocol. 
For that reason, the chief developer of Jupiter has called for a super-majority vote with a minimum of 70% ‘yes’ to launch another Jupuary with a community-building airdrop. 
The vote will check whether the community is comfortable with two more Jupuary events and the potential incentives to hold the newly dropped JUP. The votes will replace a team-led decision, though with significant guidance and communication from the team.&nbsp; 
The lead developer of Jupiter, Weremeow, announced the first round of voting for Jupuary, which started on Monday and will run until November 29. The final conditions of the Jupuary event are not set in stone, and the lead developer @weremeow can propose other votes with altered conditions.&nbsp; 
The Jupiter community is among the most active in crypto, and the consensus may be a model of governance while dealing with Sybill attacks.&nbsp; 
<h3 id="span-style-font-weight-400-new-jup-tokens-to-be-awarded-without-locking-span">New JUP tokens to be awarded without locking</h3> 
Jupuary will distribute more JUP tokens with no intention to lock or vest. The risk is that some of the recipients could sell their assets, diminishing the value of all remaining JUP. The Jupuary event will incentivize a wider circle of users, distributing tokens to additional traders. 
For the past year, some of the Juputer users have also used low-grade activity just in case they are eligible for additional airdrops. 
The Jupuary event will aim to reward real users from all segments of the community. Jupiter has called for community alignment, instead of vesting, as the team expects the JUP tokens to be held and used for active votes in the future. JUP tokens can also be eligible for simple staking, to share in the protocol’s revenues.&nbsp; 
Part of the new Jupuary token allocation will also be used to drive protocol activity and expand the community. One possibility for the Jupuary event would be to ‘grow the pie’ and invite more users. The community has also shown readiness to absorb some selling on the side of recipients.&nbsp; 
If Jupuary happens in 2025 and 2026, it will extend the big valuable airdrop season, setting a model for incentives.&nbsp; 
For others, JUP should remain a governance token instead of an actively traded asset. There are those in favor of rewarding more JUP for active staking instead of arranging a community-wide airdrop. Others have proposed limiting new JUP drops to Jupiter DAO instead of a wider community.&nbsp; 
<h3 id="span-style-font-weight-400-jupuary-event-may-add-new-members-to-community-span">Jupuary event may add new members to community </h3> 
JUP already has <a href="https://solscan.io/token/JUPyiwrYJFskUPiHa7hkeR8VUtAeFoSYbKedZNsDvCN" rel="nofollow noopener" target="_blank">812,978</a> holders, with most tokens still concentrated in the team, community wallets, and a handful of exchanges. Small-scale users are not a significant part of the JUP token structure. 
The Jupiter DEX locks in $2.31B in value, recently reaching an all-time peak. Jupiter was instrumental in the growth of <a href="https://www.cryptopolitan.com/solanas-monthly-dex-volume-surpasses-100-b/">DEX trading</a> on Solana in the past two months, mostly due to demand for meme tokens trades with optimized routing.&nbsp; 
JUP tokens have traded in a range mostly between $1 and $1.75 for the past year. Following the original Jupuary, the asset only had a brief price drop before rallying. After a recent drawdown, JUP still retained the $0.99 level.&nbsp; 
The JUP in circulation is just around 1.35B tokens, and two more events may add to the available assets for direct sales on the market. For now, there are signs @weremeow and parts of the community are ready to absorb the price pressure in exchange for a potential price rally during Jupuary and additional popularization of the project. 
From Zero to Web3 Pro: Your 90-Day <a href="https://www.cryptopolitan.com/crypto-career-launchpad-waitlist/?utm_source=cryptopolitan&amp;utm_medium=banner&amp;utm_campaign=ccl-waitlist-3" target="_blank">Career Launch Plan</a>

Jupiter puts two more Jupuary events to community vote, with 1.4M JUP up for redistribution

Table of Contents

Cryptopolitan_News

Other articles published on Nov 26, 2024

Plena Crypto Super App with 1M+ Users Launches $PLENA token

Best Meme Coins to Buy in December 2024: BTFD Coin Presale Makes Waves Amid Bullish Trends for Po...

Justin Sun joins World Liberty Financial as advisor

Trump’s Pet Pepe (TRUMPEPE) Solana Memecoin Will Rally 18,000% Before Exchange Listings, While Sh...

Mercado Bitcoin Launches MBRL Stablecoin Pegged to Brazilian Real on the TRON Blockchain

Feeling Left Out of Ethereum Success? Qubetics Presale Might Be Your Answer

Join our free newsletter for daily crypto updates!