Solana decentralized exchange (DEX) Jupiter will modify its airdrop strategy after a governance proposition did not reach a 70% supermajority, which would have caused $1.6 billion worth JUP being airdropped to users of its platforms throughout numerous waves.
Previously today, a Jupiter DAO proposition penned by pseudonymous Jupiter co-founder Meow went live for ballot, letting token holders identify whether Jupiter would airdrop approximately $1.6 billion in JUP throughout 2 different airdrops obviously prepared for subsequent Januarys ahead.
The proposition, which got more than 364 million in JUP ballot power, just got 58% in votes in favor of paying out the tokens to users.
” Since we are trying to find a 70% supermajority, we will be continuing with a 2nd vote,” Meow stated on X (previously referred to as Twitter). “While this unpredictability is certainly strenuous, and weighing down on belief, it is likewise vital to bear in mind that if we do merge behind a strategy– we will emerge far more powerful.”
Now Meow and Jupiter will return to the drawing board, very first examining the feedback from dissenting citizens and after that resolving those issues in a brand-new proposition, which is anticipated to increase for vote next week.
” I believe the concept to ‘Grow the Pie’ with Jupuary is terrific. I would blindly vote ‘yes’ if the amount was various,” stated user Juanortuzar.sol on the proposition’s online forum.
The JUP amount– 1.4 billion tokens in overall– and other aspects might require to be customized for Meow and group to get the extra assistance they require to make a passing proposition.
JUP, the Jupiter community’s native token, is up almost 4% on the day and trading at $1.15.
Modified by Andrew Hayward
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