Odaily Planet Daily reports that Jupiter’s vote on “Reducing the future token net release to zero” officially ended today at 19:00, with the community ultimately approving the proposal with a 75% support rate.
Previously, Jupiter initiated a new proposal to reduce the net release of JUP to zero in the foreseeable future. The proposal mainly targets the current three major sources of JUP release — the Jupuary airdrop, team vesting, and Mercurial quota unlocking, as follows:
First, indefinitely postpone the Jupuary airdrop, returning all 700 million JUP to the community multisig cold wallet for future use. The current usage and staking snapshot will be preserved. When market conditions, token status, and market sentiment are more suitable, this matter will be renegotiated with the DAO.
Second, indefinitely suspend token releases to team members. As an alternative, team members will receive JUP in the form of claims on Jupiter’s balance sheet — if any member wishes to sell their allocated tokens, Jupiter’s balance sheet will directly buy them. This move will further strengthen JUP reserves and demonstrate the team’s commitment to the future of the JUP token.
Third, fully hedge against selling pressure from Mercurial stakeholders, accelerate their unlocking process, and purchase an equivalent amount of tokens using Jupiter’s own assets to absorb any potential impact from token sales.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Solana Foundation Partners Triton One to Redesign Onchain Data Layer as SOL Gains 3%
The Solana Foundation is collaborating with Triton One to enhance its on-chain data access layer, improving scalability and data retrieval. The redesign features two core modules: Accounts for adaptive indexing and Ledger for efficient historical data management. SOL is currently trading around $84.
GateNews16m ago
Tether Launches Self-Custodial Wallet with Readable Addresses and No Gas Token Requirement
Tether has launched tether.wallet, a user-friendly self-custodial digital wallet that simplifies transactions with readable identifiers and eliminates the need for separate network tokens for gas fees. Initially supporting USDT, XAU₮, and Bitcoin, the wallet aims to enhance accessibility for users.
GateNews36m ago
Cardano Founder Says Crypto Parties Won’t Boost ADA Price – Here’s Why
Charles Hoskinson just dropped a reality check on the Cardano community. His message is simple. Crypto parties and big conference events are not going to move the ADA price. Instead, he wants to take the funds that would have been spent on flashy gatherings and put them into permanent global co
CaptainAltcoin39m ago
GMX Launches 24/7 Gold and Silver Trading on Arbitrum, Surpasses $10M Volume on Day One
GMX has launched 24/7 gold and silver perpetual markets on Arbitrum, achieving over $10 million in trading volume on day one. Utilizing Chainlink Data Streams for secure pricing, GMX aims to expand into real-world asset derivatives. This move highlights the trend of decentralizing commodity trading.
GateNews2h ago
X Product Chief Hints at Crypto Feature Launch as Platform Cleans Up Bot Activity
Nikita Bier from Elon Musk's X hinted at a possible crypto-related product launch amid Bitcoin's recovery, stimulating discussions on potential payment and trading features. X Money, a peer-to-peer service, is set for early public access but lacks confirmed crypto features.
GateNews3h ago
B.AI LLM Services Surpasses 1 Million Users, Scaling Privacy-First AI Infrastructure
B.AI LLM Services has exceeded 1 million users, showcasing its ability to manage high throughput with a privacy-first routing architecture, as it develops infrastructure for an autonomous agent economy.
GateNews5h ago
