Proposal: Net-Zero Emissions

[Kash]

TL;DR

$JUP is the shared alignment engine across the team, the community, and the token holders. When it succeeds, we all succeed. In order to reduce emissions and change the narrative around $JUP, this proposal would result in no net-new emissions for the foreseeable future.

---

1. The State of $JUP

Everyone knows that nobody ships like Jupiter.

But not enough people are aware that nobody cares about their token like Jupiter.

Already, Jupiter has taken dramatic and repeated action to support the token. We burned 3B tokens (including 30% of the team’s original allocation as well as strategic reserve). The team locked their first cliff. The founders locked their tokens, including Meow locking his token to 2030. We send 50% of our onchain revenues to buybacks on the open market. The team’s economics and the community’s economics are inextricably linked together with one currency - $JUP.

Today we are presenting another decisive proposal to the community to further support $JUP.

After listening to token-holder feedback, it’s clear many are concerned about emissions affecting $JUP in these market conditions.

And it’s clear that if we act as a united front across the team, the token holders, and the community, we can make massive progress towards reducing this concern.

This proposal, if approved, would drive $JUP emissions to roughly zero for the foreseeable future. If it is not approved, Jupuary will take place as planned in the 1-2 weeks following the vote’s conclusion.

2. Sources of Emissions

There are currently 3 key sources of emissions that are driving much of the current discourse:

1. Jupuary - the annual airdrop, designed to deliver more governance power to the most loyal users/stakers.

2. Team Vesting - tokens delivered to team members, designed to align incentives and motivate the team to grow the Jupiter ecosystem.

3. Mercurial Stakeholders Vesting - 5% of the total supply given to token holders and investors of Mercurial, the project Jupiter spun out of.

3. Going Green (Stopping Emissions)

Today, we are bringing forward a proposal to address all three sources of emissions.

First is to postpone Jupuary for the foreseeable future, returning all 700M tokens to the Community Cold Multisig to be used at a future date. The snapshot of usage and stake at this point in time would be kept. We will revisit it with the DAO at a point in time when the market conditions, token conditions and sentiment are more appropriate.

Second is to stop emissions to team members for the foreseeable future. Instead, team members will receive JUP as a credit against the Jupiter balance sheet - if any of them want to sell their token allocation, the Jupiter balance sheet will buy the tokens directly. This will further strengthen our $JUP reserves, while simultaneously demonstrating our commitment to the $JUP token.

Third is to offset all sell pressure from Mercurial stakeholders. We will accelerate their vesting and absorb any impact from potential token sales by buying an equivalent amount of tokens for Jupiter’s own balance sheet. We will then track their wallets for the rest of the year and buy the exact amount of tokens they sell on-chain or move to a CEX. Any such sales or movements will trigger Jupiter buying an equivalent amount of tokens on market in order to offset the market impact.

Taken together, these three actions would negate all major forms of emissions.

These actions will be most effective when done as a package, reassuring the market both of the supply schedule for $JUP and demonstrating enormous conviction in the value of the $JUP.

But this topic is too large to be decided unilaterally. High-leverage decisions about $JUP are exactly what the DAO is built to handle, and so this must go to a DAO vote. The team will abide by whatever decision the DAO makes.

4. Proposal Logistics

The vote will be structured with two simple options:

• Option 1: Continue with Jupuary

  • If this option receives a majority of votes, the Jupuary airdrop checker will be released ~1 week after the vote’s conclusion, and the airdrop will commence ~2 weeks after, starting with the distribution of 200M $JUP. The bonus pool (200M) and Jupnet incentives (300M) will roll out as originally planned.

• Option 2: Postpone Jupuary, pause Team Reserve emissions indefinitely, and offset Mercurial Investors.

  • If this option receives a majority of the vote, the Jupuary tokens will be returned to the Community Cold Mutisig, tokens will not be emitted from the Team Reserve for the foreseeable future, Jupiter will absorb any team members’ tokens for sale, and Mercurial stakeholders will be airdropped their tokens and an equivalent number of tokens will be purchased by Jupiter’s balance sheet and added to the Team treasury.

The vote will take place from Feb 17th - Feb 21st to give ample time for any token holders to be able to cast their vote.

Stakers will be eligible for ASR regardless of whether they participate in this vote or not (though we do hope every staker participates!)

5. A Final Note

We know that the process of comms to get here has not been ideal. And we know that even putting this proposal out risks angering some users who built their plans around Jupuary.

We acknowledge that this proposal is a bold new direction, and that for some it will feel painful.

To those people, we can offer only an argument: the best way to reward Jupiter’s users and $JUP holders long-term is to protect the value of the project across all dimensions.

It would have been ideal to have this conversation months ago. But given where we are, we must have the conversation now, even if it is painful.

If the Net-Zero Emissions option passes, your record of usage will be maintained, and the tokens will remain available in the Community Cold Multisig, to be released at a future point upon a future DAO vote.

And to be clear, this proposal is not a silver bullet. There is still much work to be done. But this could be an important first step.

This week may be turbulent, and surely much of Crypto Twitter will have an opinion. We encourage all community members to keep the discussion constructive, and make your case for whatever you believe is best for the long-term health of Jupiter.

6. FAQs

Why are we proposing for Jupuary to be postponed? I want that airdrop.

If you were looking forward to Jupuary, we understand the frustration. This airdrop was proposed as part of a series of votes in 2024 because we believe in it as a genuinely beautiful and very defi way to reward real users for just using the product. The first Jupuary dropped a billion $JUP (worth $700M to $2B at prices then) and created the foundation for the original community.

That was over 15 months ago. The market has changed. Bitcoin is down nearly 50% from its peak, Solana is down 65%, and $JUP is at its lowest levels. The feedback from token holders has changed and they are understandably concerned about dropping 700M tokens into this environment.

And the DAO itself has changed.

Less than 29% of current stakers cast a vote for this Jupuary back in 2024. When the electorate has changed this much, over such a long period of time, in a drastically different environment than when the vote took place, it makes sense to us to ask the question:

“Do you still consent to this?”

Why bundle the community airdrop with Team/Mercurial emissions in option 2? Can we let Jupuary proceed and stop emissions after?

Because half measures don’t move markets. The whole point of this proposal is to send one decisive signal: zero net new emissions in 2026.

We’ve always done things 50/50 with the community. From our original distribution where 50% went to the team and 50% to community, to our joint burning of 30% of the supply. This proposal is no different.

The market does not distinguish between sources of emissions. Whether tokens come from Jupuary, team vesting, or Mercurial unlocks, they all create the same sell pressure on

$JUP. If we do Jupuary first and address emissions after, the damage is already done.

We are putting massive amounts of team capital behind this, actively buying tokens from Mercurial and team sales. We are asking the DAO to consider postponing Jupuary alongside those actions because together, they fundamentally reshape the outlook for $JUP. Separately, none of these moves are enough.

For details, see “How will Mercurial Offset work” and “How will Team Emissions work” below.

How will the returned Jupuary tokens be used in the future?

If option 2 passes, the 700M tokens go into the Community Cold Multisig, not the team treasury. They cannot be moved or used without a future DAO vote. Your snapshot is preserved. When the time is right, the community decides what happens next.

What is the net emissions impact if this proposal passes?

Net new emissions go from ~1.2B $JUP to effectively zero.

Will this actually reduce dilution and support long-term value?

This proposal results in zero net-new emissions for the foreseeable future. On top of that, the team is using its own balance sheet to buy any team and Mercurial investor sales of vested tokens. Combined with the ongoing Litterbox buybacks from 50% of onchain revenue, $JUP will have one of the cleanest emission profiles in defi.

We can’t make promises about price, but we can make sure the fundamentals are strong.

How will the Mercurial Offset work?

Over 99% of $JUP allocated to Mercurial stakeholders are held in under 300 wallets. Each of those 300 wallets are known and will be tracked by us. When these wallets sell $JUP or move it to an exchange, we will buy an equivalent amount of $JUP to offset the sales.

How will the Team Emissions work?

Anyone receiving team emissions will receive a ‘credit’ against Jupiter’s $JUP balance sheet in the future, instead of receiving $JUP onchain. When they want to sell, Jupiter is the counterparty and absorbs the sale directly.

This speaks to the strength of both our commitment to $JUP and our balance sheet. It also means that we have even more skin in the game, knowing ultimately that we backstop our team ourselves instead of the market.

Do we still get ASR?

Yes. ASR remains unchanged and continues at 50M per quarter. These come from circulating tokens from previously unclaimed Jupuary, so there are no new emissions

Will ParaFi Vote on This Proposal?

No. They purchased $35m of $JUP tokens, but those tokens are locked an unavailable to be used in governance at this time.

[kicking]

Hi, Can we have the checker only, then go for option2, so that we know how much we are getting

[lordmichaelde]

@Kash

1. The State of $JUP

Everyone knows that nobody ships like Jupiter.

But not enough people are aware that nobody cares about their token like Jupiter.

Already, Jupiter has taken dramatic and repeated action to support the token. We burned 3B tokens (including 30% of the team’s original allocation as well as strategic reserve). The team locked their first cliff. The founders locked their tokens, including Meow locking his token to 2030. We send 50% of our onchain revenues to buybacks on the open market. The team’s economics and the community’s economics are inextricably linked together with one currency - $JUP.

Today we are presenting another decisive proposal to the community to further support $JUP.

After listening to token-holder feedback, it’s clear many are concerned about emissions affecting $JUP in these market conditions.

This proposal, if approved, would drive $JUP emissions to roughly zero for the foreseeable future.

2. Sources of Emissions

There are currently 3 key sources of emissions that are driving much of the current discourse:

1. Jupuary - the annual airdrop, designed to deliver more governance power to the most loyal users/stakers.
2. Team Vesting - tokens delivered to team members, designed to align incentives and motivate the team to grow the Jupiter ecosystem.
3. Mercurial Stakeholders Vesting - 5% of the total supply given to token holders and investors of Mercurial, the project Jupiter spun out of.

3. Going Green (Stopping Emissions)

Today, we are bringing forward a proposal to address all three sources of emissions.

First is to postpone Jupuary for the foreseeable future, returning all 700M tokens to the Community Cold Multisig to be used at a future date. The snapshot of usage and stake at this point in time would be kept. We will revisit it with the DAO at a point in time when the market conditions, token conditions and sentiment are more appropriate.

Second is to stop emissions to team members for the foreseeable future. Instead, team members will receive JUP as a credit against the Jupiter balance sheet - if any of them want to sell their token allocation, the Jupiter balance sheet will buy the tokens directly. This will further strengthen our $JUP reserves, while simultaneously demonstrating our commitment to the $JUP token.

Third is to offset all sell pressure from Mercurial stakeholders. We will accelerate their vesting and absorb any impact from potential token sales by buying an equivalent amount of tokens for Jupiter’s own balance sheet. We will then track their wallets for the rest of the year and buy the exact amount of tokens they sell on-chain or move to a CEX. Any such sales or movements will trigger Jupiter buying an equivalent amount of tokens on market in order to offset the market impact.

Taken together, these three actions would negate all major forms of emissions in 2026.

These actions will be most effective when done as a package, reassuring the market both of the supply schedule for $JUP and demonstrating enormous conviction in the value of the $JUP.

But this topic is too large to be decided unilaterally. High-leverage decisions about $JUP are exactly what the DAO is built to handle, and so this must go to a DAO vote. The team will abide by whatever decision the DAO makes.

4. Proposal Logistics

The vote will be structured with two simple options:

• Option 1: Continue with Jupuary
  • If this option receives a majority of votes, the Jupuary airdrop checker will be released ~1 week after the vote’s conclusion, and the airdrop will commence ~2 weeks after, starting with the distribution of 200M $JUP. The bonus pool (200M) and Jupnet incentives (300M) will roll out as originally planned.
• Option 2: Postpone Jupuary, pause Team Reserve emissions indefinitely, and offset Mercurial Investors.
  • If this option receives a majority of the vote, the Jupuary tokens will be returned to the Community Cold Mutisig, tokens will not be emitted from the Team Reserve for the foreseeable future, Jupiter will absorb any team members’ tokens for sale, and Mercurial stakeholders will be airdropped their tokens and an equivalent number of tokens will be purchased by Jupiter’s balance sheet and added to the Team treasury.

The period for public comment will begin now until Tuesday morning SGT. The actual vote will take place from Tuesday morning through Saturday morning to give ample time for any token holders to be able to cast their vote.

Stakers will be eligible for ASR regardless of whether they participate in this vote or not (though we do hope every staker participates!)

5. A Final Note

We know that the process of comms to get here has not been ideal. And we know that even putting this proposal out risks angering some users who built their plans around Jupuary.

We acknowledge that this proposal is a bold new direction, and that for some it will feel painful.

To those people, we can offer only an argument: the best way to reward Jupiter’s users and $JUP holders long-term is to protect the value of the project across all dimensions. Even when it is painful to have the conversation, have the conversation we must.

Subject to the vote passing, your record of usage will be maintained, and the tokens will remain available in the Community Cold Multisig, to be released at a future point upon a future DAO vote.

And to be clear, this proposal is not a silver bullet. There is still much work to be done. But this is an important first step.

The next week will be turbulent, and surely much of Crypto Twitter will have an opinion. To those long-term believers, we suggest only this: ignore the noise, make your case in the community, and let’s do what is best for the long-term health of Jupiter.

The “Illusion of Choice” and Governance Fraud

"Your ‘State of $JUP’ post is a masterpiece of gaslighting. You are attempting to rebrand a broken promise as a ‘decisive proposal’ for token health. Let’s address the reality behind these corporate euphemisms:

1. Retroactive Rule Changes are Fraud: You claim that ‘nobody cares about their token like Jupiter,’ yet you are unilaterally trying to cancel a distribution (Jupuary) that was already ratified by the DAO. Users staked their capital and used your products for a year based on a fixed governance agreement. Altering the terms after the work has been performed is not ‘listening to feedback’—it is a breach of an implied contract and equitable estoppel.

2. The Jurisdiction of the Victim: To the team member who smugly asked ‘enforce in which jurisdiction?’: Consumer protection laws follow the harm. If you solicit stakes from users in the US, EU, or Singapore based on specific rewards and then rug-pull those rewards via a ‘new vote,’ you are liable in those jurisdictions. Courts are increasingly piercing the ‘DAO veil’ and treating core contributors as a General Partnership, meaning your personal assets and residency (be it Singapore, UAE, or elsewhere) are very much within reach of a class-action discovery process.

3. Engineering a ‘Yes’ Vote: By bundling the cancellation of Jupuary with ‘stopping team emissions,’ you are holding the community hostage. This is governance manipulation. You are forcing users to choose between a reward they already earned and the ‘inflation’ you created. If you actually cared about the token, you would honor Jupuary as promised and burn the team’s allocation separately, without making the community’s rewards the sacrificial lamb.

4. The ‘Balance Sheet’ Myth: Your proposal to buy team tokens from the ‘Jupiter balance sheet’ is just moving money from one pocket to another while reducing transparency. It’s an exit liquidity plan for the team, funded by the protocol, while the community is told to ‘postpone’ their rewards indefinitely.

Conclusion: A DAO is a tool for decentralized governance, not a ‘get out of jail free’ card for failing to honor financial commitments. We have documented every original promise and the subsequent staking activity. If this proposal is used to bypass the original Jupuary commitment, we will proceed with filing formal complaints with financial conduct authorities and pursuing a collective lawsuit against the core contributors personally.

Governance is not a game of ‘moving the goalposts’ whenever it suits your treasury. See you in the forums, and if necessary, in court.

[acello]

@Kash

TL;DR

$JUP is the shared alignment engine across the team, the community, and the token holders. When it succeeds, we all succeed. In order to reduce emissions and change the narrative around $JUP, this proposal would result in no net-new emissions for the rest of the year.

---

1. The State of $JUP

Everyone knows that nobody ships like Jupiter.

But not enough people are aware that nobody cares about their token like Jupiter.

Already, Jupiter has taken dramatic and repeated action to support the token. We burned 3B tokens (including 30% of the team’s original allocation as well as strategic reserve). The team locked their first cliff. The founders locked their tokens, including Meow locking his token to 2030. We send 50% of our onchain revenues to buybacks on the open market. The team’s economics and the community’s economics are inextricably linked together with one currency - $JUP.

Today we are presenting another decisive proposal to the community to further support $JUP.

After listening to token-holder feedback, it’s clear many are concerned about emissions affecting $JUP in these market conditions.

This proposal, if approved, would drive $JUP emissions to roughly zero for the foreseeable future.

2. Sources of Emissions

There are currently 3 key sources of emissions that are driving much of the current discourse:

1. Jupuary - the annual airdrop, designed to deliver more governance power to the most loyal users/stakers.
2. Team Vesting - tokens delivered to team members, designed to align incentives and motivate the team to grow the Jupiter ecosystem.
3. Mercurial Stakeholders Vesting - 5% of the total supply given to token holders and investors of Mercurial, the project Jupiter spun out of.

3. Going Green (Stopping Emissions)

Today, we are bringing forward a proposal to address all three sources of emissions.

First is to postpone Jupuary for the foreseeable future, returning all 700M tokens to the Community Cold Multisig to be used at a future date. The snapshot of usage and stake at this point in time would be kept. We will revisit it with the DAO at a point in time when the market conditions, token conditions and sentiment are more appropriate.

Second is to stop emissions to team members for the foreseeable future. Instead, team members will receive JUP as a credit against the Jupiter balance sheet - if any of them want to sell their token allocation, the Jupiter balance sheet will buy the tokens directly. This will further strengthen our $JUP reserves, while simultaneously demonstrating our commitment to the $JUP token.

Third is to offset all sell pressure from Mercurial stakeholders. We will accelerate their vesting and absorb any impact from potential token sales by buying an equivalent amount of tokens for Jupiter’s own balance sheet. We will then track their wallets for the rest of the year and buy the exact amount of tokens they sell on-chain or move to a CEX. Any such sales or movements will trigger Jupiter buying an equivalent amount of tokens on market in order to offset the market impact.

Taken together, these three actions would negate all major forms of emissions in 2026.

These actions will be most effective when done as a package, reassuring the market both of the supply schedule for $JUP and demonstrating enormous conviction in the value of the $JUP.

But this topic is too large to be decided unilaterally. High-leverage decisions about $JUP are exactly what the DAO is built to handle, and so this must go to a DAO vote. The team will abide by whatever decision the DAO makes.

4. Proposal Logistics

The vote will be structured with two simple options:

• Option 1: Continue with Jupuary
  • If this option receives a majority of votes, the Jupuary airdrop checker will be released ~1 week after the vote’s conclusion, and the airdrop will commence ~2 weeks after, starting with the distribution of 200M $JUP. The bonus pool (200M) and Jupnet incentives (300M) will roll out as originally planned.
• Option 2: Postpone Jupuary, pause Team Reserve emissions indefinitely, and offset Mercurial Investors.
  • If this option receives a majority of the vote, the Jupuary tokens will be returned to the Community Cold Mutisig, tokens will not be emitted from the Team Reserve for the foreseeable future, Jupiter will absorb any team members’ tokens for sale, and Mercurial stakeholders will be airdropped their tokens and an equivalent number of tokens will be purchased by Jupiter’s balance sheet and added to the Team treasury.

The period for public comment will begin now until Tuesday morning SGT. The actual vote will take place from Tuesday morning through Saturday morning to give ample time for any token holders to be able to cast their vote.

Stakers will be eligible for ASR regardless of whether they participate in this vote or not (though we do hope every staker participates!)

5. A Final Note

We know that the process of comms to get here has not been ideal. And we know that even putting this proposal out risks angering some users who built their plans around Jupuary.

We acknowledge that this proposal is a bold new direction, and that for some it will feel painful.

To those people, we can offer only an argument: the best way to reward Jupiter’s users and $JUP holders long-term is to protect the value of the project across all dimensions. Even when it is painful to have the conversation, have the conversation we must.

Subject to the vote passing, your record of usage will be maintained, and the tokens will remain available in the Community Cold Multisig, to be released at a future point upon a future DAO vote.

And to be clear, this proposal is not a silver bullet. There is still much work to be done. But this is an important first step.

The next week will be turbulent, and surely much of Crypto Twitter will have an opinion. To those long-term believers, we suggest only this: ignore the noise, make your case in the community, and let’s do what is best for the long-term health of Jupiter.

Option #2 is clearly the best move here.

[solking]

Everything is a complete mess. First off, where are the ‘carrots’ (incentives) from before? How are you going to handle this? Stop leaving these bearish factors hanging over our heads—who would dare to buy in this state?! If the airdrop doesn’t happen, it’s a total breach of trust. If you’re going to do it, do it now; the price is already tanking anyway. Delaying it again is just burying a time bomb for the future.

[chris24]

3. Engineering a ‘Yes’ Vote: By bundling the cancellation of Jupuary with ‘stopping team emissions,’ you are holding the community hostage. This is governance manipulation. You are forcing users to choose between a reward they already earned and the ‘inflation’ you created. If you actually cared about the token, you would honor Jupuary as promised and burn the team’s allocation separately, without making the community’s rewards the sacrificial lamb.

Just a thought! If Jupuary is postponed till the Team & Merc are exhausted/doneawaywith, and then Jupuary is Deployed, the tokens received should hold more value! I think that was the intended effects that are scoped… obviously, one could be wrong…

[maxedoutjuicer]

l

@Kash

Mercurial stakeholders will be airdropped their tokens and an equivalent number of tokens will be purchased by Jupiter’s balance sheet and added to the Team treasury.

love option 2, but~
still unsure how the actual selling buying event occurs/plays out,and for how long,will it be a one time buy of all the mercurial airdrop? or a wallet sniper that absorbs their sell? will it happen on open market? (really confused, apologies a lillte titled rn KEKW)

[Aamini]

There is a compromise. Give everyone their jupuary rewards they were promised but have the tokens vest monthly (equally) over 12 months. This way you can honor the prior vote of giving Jupuary rewards and it’s no longer “indefinite” and at the same time all the tokens don’t hit the market at once to help you get closer to net neutrality.

[Matador]

Why wasn’t clear $JUP token roadmap for full year released on how the token will be handled, instead of 2 years of spontaneous decisions.
In November there were same problems but it was said that it was voted on so no cancellation and people were given snapshot date so they can “farm” until end of January.
So why is it that we get this kind of vote only after the fees are collected from users and farmers.

Who is really winning in this vote???

Users will probably go towards Jupuary option since they used products
Holders/Stakers will go towards cancellation of jupuary and other emissions since they will want to see some value in $JUP token

So how is this not a lose lose vote in which DAO will be a “decision taker” when this already could have been decided by the team. If you had a clear roadmap for token and plan like 555 plan then you would know if its best to stop emissions early or wait another year, but you don’t cause this is all spontaneous and DAO needs to do the “cleanup” so that all the blame is on the DAO.

Same thing was with carrots one day you needed to stake and not unstake for a year to get a bonus, and year later nothing. If the token was important as the products are to Jupiter then all the decisions would have been planned.

Jupiter is successful and its getting better day by day, but the token isn’t even close to that and the further time goes its starting to look like the Jupiter is pivoting away from the token

[Tru3god]

I’m all for option 2 (Bring net emissions to zero).

My only reservation are;

1.) Community members were asked to use fee paying products in anticipation for an airdrop. This though informal is a promise made and not keeping to it doesn’t look good and will probably usher in another round of controversies. On the other hand there are people out there who used our fee paying products (perp dex and prediction markets included) for the first time and became avid members of the community because of this promise. Some might’ve even lost money in the process. Not all of them are holders and stakers and therefore can’t have a say in this vote, this makes them completely sidelined. And like I said earlier, it’s not a great look.

2.) Is net emission truly zero if these emissions especially the Jupuary are postponed and not put to a complete stop.

Postponement only gives room for speculations and assumptions on what will eventually happen to these tokens and that is unhealthy for holders and community imho.

I do rather the Jupuary allocations be burned than have it hanging over our head not knowing when it will eventually come into circulation again.

If net emissions will be zero, then let it truly be ZERO.

Or at least let there be a fixed time when such topic will be revisited again to avoid unnecessary speculations and controversy.

Thank you.

[Tenebros]

Wouldn’t this be better to also release jupuary ? So all non believer sell now and there would be only the ASR emission left. You let the 1year cliff, or postpone the 100% bonus so that it stay the same but all the non believer exit the project.

[Tee9]

Is there an option 3 to release Jupuary, team’s & mercurial’s allocations all at once and be done with it ?

Option 2 is still going to delay the uncertainty (what they’re going to do with these tokens?) discussion later

And nothing is going green in a bear market regardless

Im going with option 1 as we voted on before

[Uchenna]

If all those tokens aren’t getting burnt right away then option 2 is a total waste of time for me i would personally go with option 1 because team is only trying to manipulate the stakers against the users then can actually fix their own emissions if they really care about the project give the 200m jup for jupuary 2026 and burn everything else have a terrible day guys

[Shawaeb]

proceed with the airdrop.

[mariusz]

Im for free market. Option 1 and market do their job. If Mercurials or team want sell at these prices let them sell. Whoever want sell, let them. Price will dump but later no more sell preasure and only true belivers will be rewarded. Btw. what is Jupiter Balance Sheet? What is in this Balance? Option 2 give only uncertainity and insiders will be rewarded from mysterious balance shit. DAO Vote is nothingburger, everybody know who have POWER in this DAO….

[Jaam]

I think the best path forward is a hybrid approach between these two options.

We should move forward with Jupuary as originally planned and get it out of the way, rather than delaying it indefinitely. The built in long term incentive already does most of the heavy lifting: doubling rewards if held for a year. Many recipients will choose to hold simply because the reward is strong, and those who do not will likely sell into depressed prices over the following couple of weeks, creating an opportunity for committed holders to accumulate.

At the same time, I do agree with the core point of this proposal that ongoing emissions should be reduced or paused wherever possible. Continuing to suppress unnecessary emissions after Jupuary would still support the long term “net zero” narrative and help stabilize supply expectations.

If the goal is to reduce long term sell pressure and support price recovery, I think we can enhance the outcome by adding an additional staking incentive after Jupuary.

For example: any JUP staked in the 2 to 3 weeks following Jupuary 2026, excluding the user’s own airdropped allocation (meaning only excess JUP purchased on the open market), could receive a 10% DAO match, provided it remains staked until Jupuary 2027.

This would encourage immediate post airdrop buy pressure, reinforce long term alignment, and reduce the downside impact of short term sellers, while still honoring the original Jupuary plan.

In my opinion, this approach would drive the strongest recovery while still preserving the spirit of the Net Zero Emissions objective.

[dazai]

I understand the intention behind protecting $JUP and reducing emissions.

However, I have three concerns:

Why are voters (stakers) deciding on a reward that was earned by users? Not all users are stakers.

Why was this not communicated before the snapshot? Expectations were set.

Many of us used Jupiter expecting Jupuary incentives. We could have used other aggregators, but we chose Jupiter.

Changing the framework after the snapshot risks long-term trust more than short term emissions risk.?

I suggest:

40-50% of Jupuary is distributed now.

The remainder is:

Locked for 6-12 months

Or Linear vesting

Or Boosted only for stakers

This way:

The user gets their due

The market doesn’t experience immediate selling pressure

The team demonstrates balance and not a sharp pivot

Or

Option B: Claimable but Locked

The user sees their allocation

They can claim it

But the token is locked for 6 months

This maintains:

Trust

And fairness

And reduces selling pressure

[BranchM]

It’s so thoroughly disgusting and repulsive that this was ever proposed. What a slap in the face.

All year long, it has been, “Use Perps! Use Lend! We are making it very clear that if you use our high fee products, then you are going to benefit much more from Jupuary!” So, at least when I got liquidated on your platform after paying more than $10,000 in fees alone to Jupiter during Q4 ‘25, I could smile and say, “well, I knew the risks of what I was getting into, and I also know what has been promised time & time again by the leaders of Jupiter in no uncertain terms, so I can smile knowing that at least a portion of that will come back to me in the form of a customer-appreciation rebate.”

Well, it turns out that you do not appreciate your customers at all. Without your customers, you are nothing. Without people using your high-fee products, you are nothing. This is a very sad day for cryptocurrency.