First DAO Funding

We have officially funded 10M USDC and 100M JUP into a DAO wallet.

This operational budget provides the DAO the capability to fund the ideas with USDC and have the JUP allocation for long term incentive alignment with J.U.P Catributors.

Besides LFG selection, the DAO will also be responsible for funding key initiatives including Working Groups, public goods and community efforts.

To ensure that the DAO will be able to execute on these crucial things over the long term, we will aim to top up the same budget on a yearly basis.

(E.G: if the DAO ends the year with 1.5M USDC and 50M JUP, the team will replenish 8.5M USDC from revenues and an additional 50M JUP will be transferred from the community cold wallets)

These funds are stored in a DAO multisig consisting of 3 members from the team and C2yptic from the Core Working Group.

Over the next few weeks, we will expand the multisig to include additional signers – ideally one nominated catdet and an ecosystem leader, and an additional key provided to a professional custodian.

We are looking very forward to discussing with the Catdets to pick a Catdet Leader to be part of this crucial multisig! We also intend to add additional signers, such as an ecosystem signer and a professional custodian.

It has been a long journey in getting to this point, and we cannot be more excited to kickstart this new phase with the entire Jupiverse!

DAO Wallet: Solscan

41 Likes

Love the idea of the yearly top up, can’t wait to see how the funds will be used!

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Should ideas be posted here, or can they also be posted on Discord? How will ideas be chosen?

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Love what you do guys. I’m not going anywhere.

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Im seeing zeus wants us to complete a mission to get the airdrop? (I did vote in the LFG) Im trying to figure it out and it just sends me to some galxe thing i try to log in and then nothing…i cant even connect phantom wallet… anyone have any clue what a newb can do?

Love the thoughts Kemosabe said, teach the cats to fish… hoping to see more action plans with the team. Rooting for you guys! Strike while the iron is hot! :muscle:

We love to support this initiative and are excited for the amazing developments that lie ahead for JUPDAO.