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.
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