Jupiter has launched an important voting initiative for its token holders, focusing on a major reduction in JUP token supply.
CAT Deep Dive: Enhance certainty for JUP community via a token supply reduction vote https://t.co/3ybcm1hCvP
— Jupiter
(@JupiterExchange) August 1, 2024
The proposal seeks to cut 3 billion JUP tokens from circulation as part of a strategic effort to refine its tokenomics and enhance its competitive stance in the crypto market.
The vote centers on a significant reduction in the total JUP supply, aiming to lower it from 10 billion to 7 billion tokens.
This move is intended to increase certainty, alignment, and transparency within the JUP community.
Previously, the co-founder Meow outlined plans for a 30% cut in both the total supply and team allocations, along with a 30% decrease in “Jupuary” emissions.
This vote is the first of three planned under the J4J (Jupiter for Jupiter) initiative, with future votes addressing Jupuary extensions and Annual Staking Rewards (ASRs).
The proposed reductions will include a 30% cut from team allocations and Jupuary emissions, with additional reductions from liquidity provider and strategic reserve allocations.
Jupiter aims to provide clearer insight into its future plans and strengthen community alignment through this supply reduction. The completion of an audit and the release of a strategic ethos essay are expected to further clarify the company’s goals.
In addition to these changes, Jupiter has announced new strategic partnerships to bolster its perpetual marketplace. Co-founder Meow emphasized the importance of sustainable growth and ongoing engagement from traders and liquidity providers.
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