Jupuary Airdrop Confirmed: What’s Next?

Following the approval of a revised proposal, 700M $JUP tokens will be distributed to the Jupiter community in January.

Published: Dec 9, 2024 at 16:10

After the first Jupuary proposal was contentiously rejected, the Jupiter DAO has finally reached a consensus.

With over 189,000 wallets casting their vote, Jupiter DAO has approved the continuation of Jupuary, the yearly airdrop event that promises to distribute 700M $JUP tokens to the Jupiter community.

What were the terms of the proposal and what can the Jupiter community expect from here?

Jupiter Community Reaches Consensus with 87% Approval

When the Jupiter DAO rejected the first Jupuary proposal, the Jupiter team pored through thousands of feedback submissions to better understand the DAO’s desires and expectations.

Albeit vague, the revised proposal addressed the DAO’s biggest concerns, which centered around allocations for $JUP stakers and fears that token dilution would damage $JUP price.

The revised proposal offered 2 significant changes. First, a portion of the Jupuary allocation would be dedicated to incentivized holding, with any unclaimed $JUP being redirected to reinforce continued Active Staking Rewards (ASR). Second, $JUP stakers have been promised an explicit allocation, with bonuses rewarding historical consistency.

jup vote

Jupiter DAO’s reaction to the new proposal was overwhelmingly positive. The proposal passed with a staggering 86.94% of $JUP weighted votes approving the changes.

Only 8.47% of wallets voted against the proposal. Comparatively, the first Jupuary proposal saw 15.87% of wallets reject continued Jupuaries.

This turnaround suggests that $JUP whales and large holders are better aligned with Jupiter’s vision following adjustments to the proposal supporting stakers and token value.

With two more Jupuaries confirmed and 700M $JUP tokens expected to be distributed across the ecosystem next month, what can the Jupiter community expect next?

What Happens Next?

While the revised proposal succeeded in aligning over 86% of the Jupiter voting power, specific details on how these changes will be implemented are still lacking.

The proposal states a “portion of the allocation will go into incentivizing holding, buying and voting through the year”. Despite the first proposal adamantly declaring that no token lockups or vesting would be enforced, the revised suggestion implies that Jupuary recipients may not have access to their full allocation on airdrop day.

The Jupiter community now eagerly awaits the official Jupuary allocation checker, which will inform individual users on how many tokens they can expect to receive. The Jupiter team are yet to provide a formal timeline indicating when it will be available, but community members expect to see the checker sometime in December.

Airdrop recipients should also be prepared for dramatically smaller allocations than they may have received in the previous Jupuary. Solana DeFi has enjoyed a sensational year of growth, with tens of thousands of new users entering the ecosystem and trading on Jupiter.

meow

Jupiter co-founder Meow highlighted that the size of the initial drop could be reduced, with an undesignated number of tokens being reallocated to reinforce market stability. The Jupiter team has also teased significant announcements regarding future $JUP utility, which may bolster market support for the asset.