Let’s be proactive and see if we can address concerns. This is hands down the best team and we all have a bright future ahead of us!
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I think few serious stakers want it all. But some kind of protection from inflation. Lets say 25-30% of Jupanary and the rest of inflation can be overcome via participation in ASR. Does not feel unrealistic?
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I agree currently that the supply shock is going to be too big. I understand meow’s stance on short term PA, but the damage could be worse than just short term PA. I don’t know what the solution is…but I think it needs to be discussed.
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I don’t know my friend. Who am I to say what’s realistic or not. The team has much more info than all of us. Imo, they should’ve decide the criteria and move on.
This was not a smart move at all, to take the stakers out of Jupuary2 and after that to ask them to vote for it.
I have a decent amount of volume on perps too, not top wallets but decent.
Do you think if I would’ve only had some Jup staked, I would’ve vote for the proposal? Probably not…
I don’t know what’s fair to be honest. Maybe they should’ve had a points system were every type of platform usage should’ve been counted for. I don’t know. For this kind of debate you need time to align most of the people.
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I agree there should be an airdrop but 700m tokens is over 50% of circulating supply at once. I know they’re not all going to be sold but it just seems excessive along with asr. I think Jupiter is already well established for a newer project on the most active blockchain. You think people will stop using it without rewards? If so that’s a big problem. Perhaps the token needs more utility rather than just a governance token? I’d vote for a reduction in rewards across the board.
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We really have to read between the lines on some of the points you’ve brought up. I’ve watched the rally 3 times and dunno how many times I’ve read the essay. From what I gather, the team cares and is pragmatic. Meow adamantly stated that he heard us… They can’t have staking as criteria for Jupuary because it will alienate too many people who interact with Jupiter who aren’t stakers. The point of Jupuary is to grow the community and only rewarding stakers won’t do that. Stakers were hurt from the perception of being excluded via previous comments. Stakers are a large part of the community but aren’t the entire community. I believe there will be some sort of bonus for stakers, but Meow will not release criteria because everyone will just vote for their self interest. Also, they don’t want this to be farmed, but that is unrealistic. They announced 4 years of drops so there will be farmers and this reality needs to be accepted. This is a test for the community and we all need to communicate our thoughts and frustrations so that we can get this vote passed so that the team can focus on their vision for the next 2 years.
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Also how would it attract new users if the people getting rewards are the ones who are already using it?
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I disagree, lots of people came to Jupiter because it’s a good product built on the most active blockchain. Rewarding people is good idea but dropping 700M tokens or over 50% of circulating supply is ridiculous. They need to lower the overall amount of dilution including staking rewards. Having actual utility or generating more revenue would help too
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I agree with an airdrop and rewarding people but not over 50% of the circulating supply. You can’t massively dilute like that and expect price stability and people to continually hold through it. Jupiter is already well established and well known, we don’t need to give gifts to gain exposure. We should prob reduce asr as well because 15-20% rewards 4 times per year is excessive as well. Learn from the atom token, high staking rewards coupled with no real use case. We need actual utility for this token if we’re going to survive dilution
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Voting against as well. And voting against for any next proposal for jupuary that comes right after that one.
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The main issue is the amount of jup being dropped. There needs to be a big reduction before I can approve
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The buzz from the airdrop alone will bring in new users. 2025 will see a lot of new people being on-boarded to crypto.
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Take a screenshot.
Nobody cares about ASR rewards now. Most of the stakers will unstake after Jupuary. This is the last leg of the bull cycle. No decent stakers will be watching their bags going down 70-80% in the bear cycle. They will collect, eventual rewards from Jupuary, unstake and sell their bags.
The ASR rewards are nothing now.
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One thing which is good to keep in mind is that the success of most other crypto projects did not come from airdrops. What I want to say by this, is that jupuary #2 is not requirement for success. We should not think that if we will not have another Jupuary, we fail. Maybe it helps to mitigate some of the anxiety which we all must have.
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This is prolly the optimal way to go (and buy back in later on), but from the experience, most people fail doing it. People hold too long due to greed and inexperience in crypto market and end up round tripping their bags, or eventually get bored getting rekt month after month, and sell at the bottom.
That being said, being loyal doesn’t mean you have to sacrifice your personal finance. You can support and contribute even without holding anything. Bear markets are great to focus on building and improving fundamentals.
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Well my friend, that’s exactly what brought me here… first Jupuary. This is how I found out about Jupiter.
I was doing all my trading on Binance and Mexc. After Jupuary I bought some Jup tokens, stacked the tokens and did 95% of my trades on Jupiter.
I don’t know how to call that if not success for Jupiter exchange. Do you think we (many traders) moved here because Jup perps trading is so much better than other exchanges? Sometimes I had nightmares trading on Jup, but I stuck with them because I saw an opportunity and I did like the future of the platform.
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Of course not. I totally agree. But let’s stop bragging about how the stakers are the most loyal users and how they will never sell. Everybody is loyal to his wallet. That’s the reality.
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This is also how I got here, maybe I miscommunicated my thoughts. Jupuary #1 was great success and there is no denying on that. It was the initial launch of JUP token and a clever way to establish a true community around Jupiter product.
Uniswap also did the same few years back and was very successful with it. Unfortunately the UNI token became just one of the “useless” governance tokens so there is no incentives to buy or hold it for most. A big reason these two airdrops were successful was because no one expected them.
I bought JUP because I saw Jupiter team adding value to it by introducing ASR and LFG, on top of having a say in form of governance. I personally think that at this point lots of crypto people are already aware of Jupiter and JUP and in my opinion the best way to go forward is adding more value for JUP and thus making it desirable.
While I understand the vision of @meow and him wanting to have JUP as a tool to further expand Jupiter community, I think there are better ways to do that than hosting more Jupuaries, which makes JUP less desirable to hold. At least with the current info.
I don’t have a plan B for the 700M JUP (+ future jupuary allocations), but I’m sure the team, with the community, will find a way to use JUP for the purpose of growth - without the negatives, which may occure by running more jupuaries with conditions (unknowns) introduced in the past 2 weeks.
I’ve been talking and working with tens of founders, thousands of token holders and involved in almost 10 different projects in the past 6-7 years. And I’ve also been part of many crypto communities as just a community member, like I’m here with Jupiter. While there are several ways of growing the community and bringing new people to a project, one of the most effective tool is to make the token desirable to buy and hold. I don’t mean the typical building the hype out of thin air and the “fake it till you make it” -attitude, which is very common in this space. But rather truly focusing on adding more value for the token. We are in the money business and people go where they see the money can be made.
And just to be clear, the previous statement doesn’t mean it needs to be the only focus.
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I agree and I personally try to be very open in this regards, even if some people prolly don’t like it.
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I agree 100% this token needs more value and incentive to hold. Airdrops and asr rewards are way too high. Even without jupuary airdrop the asr yield is way too high. Great team, tech n fundamentals but tokenomics have to change drastically to attract new investors. I’ve spoken to a lot of serious investors who love the project n the fact that it’s built on solana but the tokenomics turn them all off. Look at Raydium for a direct comparison and Jupiter does it better.
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