✨ Countdown to Jupuary 2025: Info & Discussions

Jupiter DAO
1

04.12.2024 - Let’s Jupking GO! :tada: :black_cat: :rocket:

:point_right: Follow the voting results HERE

:exclamation: Please note that some of the information in this post is not valid anymore. I’ve kept even the old information visible so you can see the progress.

29.11.2024

The current vote will probably not pass as 20 hours before closing about 42% of the voting power is against it. The team will read community feedback and come up with a new proposal. They will push really hard to make it such proposal which +70% of the voting power is happy with.

Find voting statistics here.

:point_right: JUP Rally ( view ) - 19.11.2024
:point_right: Meow’s essay ( view ) - 19.11.2024

  • This vote will have a threshold of 70% compared to the simple majority needed by most votes.
  • Additionally, if the vote fails — it will be reiterated until it has enough community support to pass with this higher threshold.
  • In order to garner more certainty, the vote will be for 2 Jupuary events with 700 M tokens each. And based on community feedback there will be 3 high-level design goals in mind.
  1. Making every key segment feel included
  2. While volume will be a consideration, it will not be the main point. Instead the goal will be to include ethos-aligned users.
  3. There will be no locking or vesting.
  • It’s important that real human’s are rewarded. Therefore there will be heavy sybil detection, higher minimum thresholds enforced, and proof of humanity requested prior to claiming.
  • The team will be deciding the exact breakdown.

This previous summary is copied from @Slorg tweet.

:point_right: Meow tweeted ( view ) - 14.11.2024

"I will release essay on monday with outline for the jupuary vote, followed by a j.u.p rally the same day. Proposal will look very different from what was discussed previously, taking into account all the key points of view being shared over the last few days.

Timeline for vote is unchanged, we will still aim to execute it around nov 25th.

I understand that the ongoing debate and occasional strife is causing a lot of community stress and market uncertainty, and i apologise for that.

At the same time, this is a crucial test for our community to take on, and it’s my sincere hope that we will emerge from this not divided and weak, but far stronger and united.

If we prove that we can do that, there really is no cap for the jupiverse. Let’s see what we are made of!"

:point_right: Great summary from @Slorg on X ( view ) - 12.11.2024

  • Although staking won’t be a criteria, stakers can be included if they used the platform.
  • Additionally the penalty for taking the immediate allocation isn’t fixed at 75%.In fact the team is floating other numbers, including a 60% penalty instead.
  • The vote date? They are aiming for November 25th, which is 2 Monday’s from now.
  • Also this vote will include 2 Jupuaries instead of 1. Not just that, but the idea is to reduce the total number of new ones from 3 years ==> 2.
  • When asked where the penalty amount would go during a Townhall, Meow replied: “I think it would go to the community, the question is where. Right now I’m thinking it would go back to the community pool and we’d decide later.”

Jupuary is for all users. Including stakers.

Screenshot 2024-11-11 at 23.47.54
Screenshot 2024-11-11 at 23.47.54892×304 36.1 KB

Some alpha from Discord

img
img1080×1350 78.8 KB

Slorg tweeted 11.11.2024 ( show tweet )

Although the community will need to decide, the team has proposed a commitment in the form of a choice: Either people will receive the tokens immediately at a cost, or vest for the entire amount.

The ultimate marshmallow test.

  • The airdrop checker which will go live in December.
  • And the vote will occur later this month.

Updates from the Townhall - 09.11.2024 ( full recording )

  • The snapshot has been taken 2nd of November.
  • The draft proposal will be out most likely next week.
  • 75% of the “penalty” goes back to community pool, it can also go to the ASR pool but it’s not decided at this point.
  • You will be able to use the staked tokens to vote on proposals and earn Active Staking Rewards (ASR)

Here is a sum up from JUP rally - 08.11.2024 ( full video ).

These are only very preliminary thoughts. Please wait for more details with the official full proposal. It should come out by end of this month with all the details.

I also may have misheard and thus misunderstood some words but this is what I got from it. Please feel free to correct me in the comments and I’ll edit the post.

There will be a vote, so wheather or not we will have another Jupuary, will be decided by the DAO. This is because Jupuary comes from the community allocation and effects token holders. If Jupuary happens, it is a gift from the community.

Due to the massive amounts of wallets, the focus will be on the most active users. Thus something similar to last Jupuary can’t be done. Set your expectations right, not everyone who interacted with Jupiter will be eligible.

Most of the Jupuary will be going to most active users and DAO. There were no discussions of specific allocations. This time there will very likely be a vesting program to encourage long term DAO participation. If you claim your airdrop right away, you may get something like 75% deduction and the rest will go back to community in some form. To get the max, the vesting will be up to a whole year. The vested JUP can be used to vote on proposals. We want the best Jupiter users to become part of the process.

31 Likes
2

A very good summary! Quick notes:

  • 75% reduction if claimed right away (not 70%).
  • Would just maybe add “Absolutely NO other thoughts at this time. These are the ONLY and very preliminary thoughts. Please wait for more details with the eventual proposal.”
9 Likes
3

Cheers, edited the post.

4 Likes
4

I’m extremely excited for the future of our community. I really got the sense that ‘growing our community’ is at the forefront of meow’s thoughts (as always). I think the 75% deduction is evidence of this. He wants to put JUP in more hands but is implementing a safety mechanism to ensure new members are legitimate.

All in all, this rally just emphasized what Jupiter has always been about.

7 Likes
5

Legend! Thank you for summarizing for those who could not join the rally - it was a special and historic one! LFG!

4 Likes
6

Zero expectations more alignment, more pie goes to active daos members. Three straight years of staking and active daos participants.

5 Likes
7

Miuq, great summary and you saved me some time here by being first (:

Like you mentioned, they indeed shared a few main points about Jupuary, which are:

  1. The team wants to do Jupuary and is working on a proposal to bring up for a vote; Meow again highlighted the growth mindset of the community but that the DAO will vote on it
  2. Not every wallet would get an airdrop; there will be eligibility criteria (as expected by us all)
  3. The allocation will be staked with voting power. They will propose a 75% reduction for direct claiming (eg. unstaking) at the start. Someone claiming on day 1 would get 25% of the allocation. This is becoming less until it is 0% reduction (100% of the allocation) after 1 year.

The Jupuary allocation would essentially go to DAO by automatically adding new members to the DAO who are voting and staking their JUP by default. It’s a opt-out system instead of an opt-in system. This is very smart and great for onboarding the next group of people into the DAO. It’s a brilliant idea to grow community participation, voting and decentralisation.

Considering that new people will experience the exciting DAO and Active Staking Rewards for the first time, we can expect many will continue to stake their allocations beyond the 1 year holding period after a positive experience.

I do have one thing I noticed, since I listened and re-listened very carefully to everything:

They did not say anything specifically about allocation going to any particular group (also not active users and the DAO). We could assume something like it based on ‘eligibility criteria’.

They did say (like you mentioned) that not every one of the 15.5 Million wallets will get an airdrop, and there will be some type of eligibility criteria in place to exclude a great number of wallets.

This was very much expected and is very much in line with what we discussed as a community, and there has actually not been one single person who suggested that all 15.5M wallets should get an airdrop. Not many specifics have been mentioned and we’ll have to wait a bit longer.

Some more context

Team member Soju did say on this other video call that they have around 7 key Jupiter team members working very hard on the proposal, and that ‘Meow has also some ideas’. I believe Meow shared these idea’s but the rest of the team are working out all the specifics.

Soju was also the one who shared that he read every single proposal on Jupresear.ch and mentioned that there were some ‘‘really great ones’’. He also said they are looking at all the data. A lot of work has gone into it already and they’re still working on it. So be assured your voice has been heard. Also join the Townhall on Nov 9th 3:30 UTC to hear / discuss more.

I expect we might see the initial proposal to come out any time in the coming 2 weeks, followed by either a round of feedback and then a DAO vote, or followed by a DAO vote straight away.

6 Likes
8

this makes me bullish bc its the true homies i see showing up each day who will win ! PPP babyyyy

9 Likes
9

So far all sounds reasonable, albeit not many specifics.

The vesting idea seems positive.

Focus on the most active users also very positive in my opinion, even if that means slightly stricter criteria. As long as it isn’t linear and uncapped broadly, very much in favour of this.

7 Likes
10

i did said boastful attitude will get disappointed, after all teams know what approach fits best for long term vision, indeed will reduce price difference that is has to offer and many will get to participate in innovative votes DAO performs.

4 Likes
11

Thanks for the additions. :+1: No talking about specific allocations as you said.

4 Likes
12

Great summary from both @miuq and @JUPWhale

I think that when Miuq said that the drop will be focused on the drop he relied on the fact that since it will be long-term dao vested then it might actually be skewed towards voters. However, team didn’t say it and it remains only to our imagination to guess where the focus would be.

5 Likes
13

75% déduction seems so well though. Amazing for jup stakers and believe to not have a huge sell pressure when we have the next emission release.

Jupuary is a gift for amazing cats and to onboard new users, no place for farmers.

Huge green flag ! meow

5 Likes
14

Some points I catched during the townhall :

  • the snapshot has been taken 2nd of November
  • the draft proposal will be out most likely next week
  • 75% of the “penalty” goes back to community pool, it can also go to the ASR pool but it’s not decided at this point
10 Likes
16

Thanks for this short and on point summary @miuq for folks like us who couldn’t make it.

5 Likes
17

Is the townhall going to be uploaded somewhere?

4 Likes
18

credit to me, i asked the question for snapshot!! lol j4j

10 Likes
19

Love the lock period it allows a focus on inviting new users too even if they are not big fish ultimately everyone who engaged in a real way will become a staker with a decent voting power if they wish. Plus it addresses concerns of long term stakers. They will get not only unclaimed tokens but also tokens that early claimers didn’t want. Plus a big airdrop on the day I would imagine. I think it’s a good community with a very special ethos after watching the video I think it’s going to be great.

3 Likes
20

It is true that those who stake believe in the project so it is right to reward them, but I also believe that Jup is a fantastic platform that has been and must be continuously tested, therefore those who have produced volume must be rewarded, risking their capital in the lost when you were at the dawn of the application and not everything always works correctly, or with the swaps that were not accepted but that still charged you the fees.
If today Jup is a great project even more than a year ago we owe it also and perhaps above all to those who tested the product.

2 Likes
21

Was wondering the same and found the townhal recording here on x.com :wink:

4 Likes