Jupiter opens vote on 215m unclaimed JUP tokens

Jupiter has initiated a vote on what will happen to the 215 million JUP tokens that were not claimed in the project’s airdrop.

On September 27, the Jupiter (JUP) team announced that the vote on how to destroy orphaned tokens was live. The tokens come from the Jupuary airdrop of the Solana (SOL) decentralized exchange aggregator.

The proposal outlines three options

The vote follows a proposal made by the DEX aggregator’s lead developer and his team earlier in the week. According to the proposal, a total of 215,461,850.21 JUP was not allocated from the airdrop and farming of the project. These tokens are either unclaimed airdrops or come from compromised wallets.

In the proposal, the team outlined a draft seeking approval to put excess JUP tokens into an active staking rewards program for the next year.

However, the community also has the option to vote to burn unclaimed Jupuary tokens or return these tokens to the community multisig wallet.

If the community vote supports the token burn, then 215 million JUP will be removed from the circulating supply, which is currently 1.35 billion. Such a measure appears to be beneficial to the value of the asset.

JUP will finance ASR

If the community approves the use of 215 million JUP in the active staking rewards program, a mechanism intended to reward JUP holders for their participation in the community and voting on the DAO.

Those who actively contribute to the management of the DEX receive JUP. Jupiter initially launched ASR with 100 million JUP tokens, 50% of which were allocated to DAO voters within the first three months.

The next 50 million are scheduled to be distributed in early October 2024. This allocation will go to participants who participate in the Jupiter vote between July 1, 2024 and September 30, 2024.