The Jupiter DAO has secured a historic $860 million dollar airdrop approval through a community-driven vote. The airdrop, part of the ‘Jupuary’ protocol, aims to distribute tokens to users based on their interaction with the platform, while preventing mercenary airdrop farmers from receiving tokens.
The community group governing decisions on Solana-based decentralized exchange Jupiter passed a long-awaited vote to allow two incentives of $860 million (worth of tokens at current prices) each over two years.
Background
The proposal was part of the “Jupuary” vote #2, which was changed and refloated after the initial vote failed to gain community favor. Jupuary is the protocol’s name for an annual JUP token airdrop in January to users based on how they interacted with it in the preceding year.
Changes to Distribution
The revised vote changed how tokens would be distributed to users with additional checks to prevent tokens from going to mercenary airdrop farmers — who typically interact with any protocol only for rewards. According to the proposal, “Maximum effort has to be made to ensure that JUP goes to the right people who have a good chance to become long term members – not farmers or overly focused on minority set of users.”
Eligibility and Airdrop Details
A snapshot of eligibility was taken in November. A link to check eligibility will be available later in the month, while the actual airdrop is scheduled for the following month.
Impact on JUP Token Prices
JUP prices are down 7% in the past 24 hours amid a broader market decline.
Source
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Source URL: https://www.coindesk.com/markets/2024/12/09/jupiter-dao-passes-massive-860m-jupuary-airdrop-vote
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Author: Shaurya Malwa
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Published Date: 2024/12/09
- coindesk.com | Jupiter DAO Passes Massive $860M ‘Jupuary’ Airdrop Vote
- au.finance.yahoo.com | Jupiter DAO Passes Massive $860M Jupuary Airdrop Vote
