Jupiter Initiates Vote Process for JUP Token Holders on Major Proposal to Reduce Supply by 30%
Jupiter has initiated a major voting process for its token holders. The proposal in question would significantly reduce the supply of JUP tokens, potentially removing 3 billion from the total circulating supply. This bold move is part of a larger strategy to change tokenomics and strengthen its position in the competitive crypto space.
The primary goal of this supply reduction proposal is to increase Certainty, Alignment, and Transparency (CAT) for all JUP holders and the broader community. This move is part of a series of major announcements and changes for the ecosystem. Prior to this development, a pseudonymous co-founder known as Meow revealed plans to overhaul the tokenomics of JUP. The original proposal called for a 30% reduction in the total supply of JUP, which currently stands at 10 billion tokens. Additionally, it included a voluntary 30% reduction in the team’s token allocation and a corresponding 30% reduction in the “Jupuary” supply.
The current vote is the first of three planned J4J (Jupiter for Jupiter) votes, with upcoming votes to extend Jupuaries and ASR (Annual Staking Rewards). In this initial proposal, Meow and the core team are advocating for a reduction in the total supply from 10 billion to 7 billion JUP tokens. This vote is part of a larger strategy to create greater certainty and alignment within the JUP community and holder base.
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