Jupiter (JUP) is making waves in the DeFi landscape with its innovative Supply Reduction Proposal, which is now live and ready for community voting. This proposal marks a significant milestone in Jupiter’s evolution, aiming to enhance certainty, alignment, and transparency (CAT) for all JUP holders and the broader community.
At the heart of this initiative is a strategic decision to reduce the total supply of JUP by 30%, from 10 billion to 7 billion tokens.
Jupiter stated, “This is the first of 3 J4J votes, with upcoming votes for extending Jupuaries and ASRs.”
The Core Team, led by Meow, has pledged to cut 30% from their token allocation, reflecting a dedication to the project’s long-term success and a shared vision with the community.
Jupiter’s new direction is built on the success of its first Jupuary and the ASR, funded by the LFG fee, alongside achievements from the initial workgroups. This momentum sets the stage for an exciting future, but it hinges on community support for upcoming votes to extend the Jupuary and ASR programs for two additional seasons.
If the community decides against these extensions, future initiatives will be paused, although the core functionality of the product will remain unaffected. This strategy highlights Jupiter’s belief that its product should drive engagement, and vice versa.
Central to this proposal is the “Community Eats First” (CEF) initiative. Key team members, including founder Siong, are staking their tokens, including a full year’s cliff, for an additional two years to avoid any supply shock.
Jupiter has ambitious plans to create a Grand Unified Market (GUM) and develop a comprehensive global exchange.
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