Jupiter opens vote on 215m unclaimed JUP tokens

Jupiter has opened voting on what happens to the 215 million JUP tokens unclaimed from the project’s airdrop.

On Sept. 27, the Jupiter (JUP) team announced that the vote on how to dispose of unclaimed tokens is live. The tokens are from the Solana (SOL) decentralized exchange aggregator’s Jupuary airdrop.

Proposal outlines three options

The vote follows the proposal by the DEX aggregator’s lead developer and team earlier in the week. According to the proposal, a total of 215,461,850.21 JUP from the project’s airdrop and farming are unallocated. These tokens are either unclaimed airdrops or are from compromised wallets.

In the proposal, the team outlined a draft seeking approval to put the excess JUP tokens into an active staking rewards program for the next one year.

However, the community also has the option to vote for the burning of the unclaimed Jupuary tokens, or to return these tokens to a community multisig wallet.

If the community vote favors a token burn, then the 215 million JUP will be removed from the circulating supply, currently at 1.35 billion. Such a measure is seen as beneficial to the value of the asset.

JUP to fund ASR

If the community approves use of the 215 million JUP in the active staking rewards program, which is a mechanism aimed at rewarding JUP holders for their participating in community and DAO voting.

Holders who actively contribute to the DEX’s governance get JUP. Jupiter initially bootstrapped the ASR with 100 million JUP tokens, with 50% of these allocated to DAO voters within the first three months.

The next 50 million is scheduled for distribution at the beginning of October 2024. This allocation will go to participants in Jupiter voting between July 1, 2024 and September 30, 2024.