Jupiter DAO, the community governing group of the Jupiter exchange, has green-flagged two multi-million dollar ‘Jupuary’ airdrops.
Background
- The long-awaited decision sanctions two airdrops [presumed to be worth around $860 million each] over two years
- The latest proposal was part of “Jupuary” Vote 2
- The initial proposal was not approved by the community
- It was amended, re-proposed, and managed to garner appeal this time
- The official time and date for the airdrop has not yet been announced
- However, in the revised proposal, it was indicated that the Jupuary token drop will “wrap up by Catstanbul”
- Catstanbul, in turn, is a two-day Jupiter ecosystem event that’s going to be held in Istanbul, Turkey on January 25-26, 2025
Why should you pay attention?
- The key changes in the second proposal centered around the distribution of tokens to real users based on their participation in the ecosystem, with the focus revolving around how to prevent tokens from getting into the hands of airdrop farming bots
- Calls for an allocation for JUP stakers have also been heard
- According to the proposal, the size of the initial drop “will be lower,” but there will be a “compelling reason to get recipients to hold on to their drop (carrot, not stick)”
Who said what?
- In the proposal, Meow, the pseudonymous co-founder of Jupiter clarified,
“I am asking for 2 Jupuaries, not one, because no one wants to do one more Jupuary vote next year, and the impact of the next one will be much less as a portion of circulating”
- He added,
“Maximum effort has to be made to ensure that JUP goes to the right people who have a good chance to become long term members - not farmers or overly focused on minority set of users”
- The final JUP token amounts were not added in the second proposal. Meow said,
“This is a grow the pie vote, not a split the pie vote. That means we will not debate the exact numbers here (that will be the team's burden to bear), but we will agree on a high level plan for the Jupiverse”
Zooming out
- The eligibility snapshot was taken in November
- A link to check eligibility will go live later in December
- The first airdrop is scheduled for January 2025
