This point needs to be discussed further, and we need to give it more visibility.
I want to highlight that team members are the vote creators, and if they hold such a large amount of $JUP tokens and are allowed to vote, they can easily sway the outcome in their favor. This is completely wrong and unacceptable. Honestly, I’m shocked that there are team wallets holding such a massive amount of $JUP with voting rights.
Should we bring up the example of the last vote again , where many were concerned about the $JUP & JUICE allocations compared to the results? And surprise: the vote passed. People were actively changing their votes from “for” to “against,” and from “abstain” to “against.” So how did it still pass? I think we all know how that happened.
I believe the Jupiter Team is acting irresponsibly here. The argument that “team members are holders too” shouldn’t even be on the table. Siong’s replies under that post come across as dismissive and tone-deaf to the real issue, but I’m sure he understands. This feels like a monopoly. If votes can be manipulated, this is not a DAO.
You should seriously consider introducing reasonable voting power limits. Also, think about other ways to reward $JUP holders above that limit so people are still incentivized to hold more without compromising the fairness of the voting process.
I hope this will change.