There seems to be a lot of opposing thoughts about this upcoming jupuary. While I have my own opinion, it occurred to me the fair thing to do is have some sort of compromise where everyone wins in away.
What about some sort of halving for both jupuaries and asr every year? That reduces the inflation rate while still rewarding users farmers and stakers. Maybe this can be a third option to vote on instead of a yes/no?
Theoretically this can be a win/win situation. Everyone still receives rewards although only half however the token should be more valuable. The rewards may possibly be worth more this way.
Anyway, it’s just a thought that’s been resonating with me n I’m curious what others may think. Thanks for reading
my reply would be the same, would like to know your essense on this.
incentive is what keep everyone enagaged like ASR does on the first place, unlike staking that does not mark revenue for the product which is not beneficial for any project but claiming to keep the price stable knowing it wont decrease and its only up just because you were lucky enough to be part of jupuary 1 and now rebuilding the roadmap which was designed at first.
the only thing should be discussed how to proportionately be executed and keep this initiative more inclusive and expansive.
team is clueless what to do, if really wanted vote should be w/o interest, first provoked it and now relying on it for results which is as usual bias.
guess what halving seems fun too similarly adopting bitcoin strategy and lets push this narrative and see if drastically staking count drops during that period, everyone is loyal to its bag.
tbh im not biased, I belong both sides I have decent bag staked plus couple wallets with decent decadic volume, Idc about the outcome tho, im looking as a projects perspective. only the one who rely just on ASR and who doesn’t compell oneself not using or optimising the platform will be the one bias because hes clearly optimistic with substantially high APY. as long the numbers doubling everything seems fine, even I can assure the results. jup wont be jup anymore everything will look unrealistic and FUD starts this moment. leaches cant help himself. even there couldn’t be anymore burning program on top of 3B. the more eyes the more sustain the project can be.
I’m mostly just a staker and I use the platform for swaps. I’m an investor who likes to play the cycles, buy in bear market n sell during bull market hopefully holding over a year for long term capital gains. So I bought Jupiter earlier this year as an investment. I love the project and the solana ecosystem.
I knew about jupuary and the tokenomics but I figured Being the top dex on the most used layer 1 still seemed like a no-brainer. My thinking was that even if jup market cap did half of what uniswap did last cycle we can see a $5 Jup price with 2B in circulation.
6 months later: after participating in 1 full round of asr making every vote I received about 18% reward. Shocked and happy I started to realize how much dilution that was yoy by itself. I didn’t realize jupuary would also be up for a vote. Now that it is and there is discussion about it I believe the dilution is absurd and will be very difficult for any project to overcome.
Pros for jupuary:
1- It’s something the team has promised and people have planned for and looked forward to. Opting out may look bad.
2- it would get more eyes on the project and users.
3- more decentralization
Cons for jupuary:
1-dilution/inflation
2-a percentage of rewards will be dumped on open market causing sell pressure/ lower price
3- how many stakers will we lose due to this sell pressure hurting the TVL
4-since jupuary was known about, how many people manipulated the farming say by swapping in n out of stable coins to boost volume. What about people running bots to do the same?
I’m sure there’s more to both but I’m personally not seeing the dilution being worth the exposure. I understand wanting to reward users and stakers but we should want to reward them with value. I think token price should be paramount to the team because that’s why 99% of people are engaged with crypto. Look at meme coins with no use case becoming household names because of their token price. The people here who want to grow the community should think about that.
In closing, I’m not against jupuaries and asr but I think inflation should be under 20% per year in total and even less in the future. This would aide in a healthier more sustainable growth imo. If they keep adding 900M tokens to the supply per year we may see a 10 cent jup price in the next bear cycle. How do you think that will effect staking, TVL, decentralization? How much can a potential whale buy at 10 cents and sway every vote? Everyone will know about Jupiter and most people will still use Jupiter but how many people will want to own the token and be involved to n the community if it’s going to cost them money? What would be the incentive?
every products that enters the markets has its own pros and cons which benefits both platform and the users unlike staking racking up rewards as long its capable and providing then winding through air, as long jupuary is stretched then ASR follows the line knowing this the bag is now much fatter then before.
trust me jup is a dex not voting booth the day user screwed up and started FUD just because it spiked in user count and backing off will end up ditching the product and here staking wont impact its the platform that will suffer there plenty of alternatives are available still user choose over them should be respected in a particular manner.
indeed there would be a price impact which it has to offer and there also plenty of whos waiting to stack up with discounted price its not like every user will likely dump there are potential upside and dowside but yall just highlighting the downside to keep ur favors inclined and strong.
ASR sufficiently rewards for yield bearing and still this decision came up deciding the fate of rest of the users despite the fact someone else is paying the fee, indeed it would be interesting how this plays out. trust me there are plenty of protocol aligning up for opportunity to steal the crown from jup. here are some example. I could pile up more if i insist but its already the end of discussion here and feels like talking with wall, kudos to you and rest of all good luck.
Well said @aped. That’s the overall feeling among traders. I think the damage was done already: they’ve managed to split up the community.
I came from Binance and Mexc. My trading experience wasn’t the greatest on Jupiter but I’ve decided to stick with them for few reasons (including Jupuary).
I’ve seen some of Meow’s reactions to some comments on X and, he looks very confident in what he’s doing. I won’t be so sure.
Now, we are hours away from this vote. Let’s see how it goes. At this point in time, nothing else we can do.
I don’t know if this vote will pass but maybe he’ll listen to both sides of the community and meet on some middle ground. I think we can pass a vote before January. After all that’s the point to a DAO, let the people be heard
i think you diligently research more into when it comes to investment, this would be far better.
ASR itself is 18% per quarter, you didnt seems to rectify that claim.
meme coins striving, just look particularly all memecoins they have the largest marketcap comparatively with few under performing blockchains. which keeps crypto fun and entertaining.
1- I disagree about more supply. Less is better when investors look at a project
2- I wasnt aware I was supposed to have a white paper to solve the problem but I’ll give it a try. How about asr are reduced to 2% 4 times per year. Jupuary airdrop about 5-10% and reduced every year. That’s about 20% inflation the first year which is unsustainable as it is. BTW if anyone knows of a successful project with over 20% inflation yoy please let me know. I know some people want big rewards but would you rather be rewarded 10,000 tokens worth $1 or 2,000 tokens worth $10? (Just an example)
the purpose of quote was the numbers you mentioned is wrong thats 700m.
certainly even that’s big but every consequences has reflective action, not everyone be dumping like me id pile more on top if thers a heavy cut no doubt.
fun part be excluding all negatives, because you dont want.
One of the biased action is given stakers, voters and pushing decision making to daos is a mistakes, jupnuary for 4 years have already been discussed from onset but because of self centered whale, they want everything to be evolved around them “ASR”. Active Staking Reward distribution is being controlled by whales but it was initially states by team that they want community to come together and be making decisions together with the team… jupnuary can be schedule without taking it to Daos, the whale that stake thousands or million of jup does it on purpose. Just to accumulate more rewards to other if it was based on decisions making stake 10 to 100 jup can does the same things as staking thousands jup in terms of decision making. Jupiverse are base on decisions making not base on whale finalizing decisions because it doesn’t favour their predictions but accumulating more jup through ASR is not dilute right…
Let keep “incentives” decision making to team no one force to stake, ASR is a willing program.
Have seen some very interesting things being said on X, the most notable was that Jupuary would be like a listed business diluting their shareholders holdings value by giving new shares to the customers of the business for free, merely for the reason that they used the relevant business.
The outrage from shareholders would be from another planet, this is similar to current Jupiter token holders, more than 50% of the current circulating supply will be brought into circulation, current token holders will not get airdropped a 1:1 on their current holdings, avoiding any dilution to their tokens/holdings, this will reduce the value of their bag without doubt and is dis-respectful to the investors.
Jupiter token holders need to think like business owners, specifically, ROI, Jupuary is heavily negative ROI, if passed, we should expect a mass sell off from whales.
Furthermore, all previous ASR’s will be negated by the adding of 700 million tokens that would be brought into circulation.
as if you dont know jupuary was part of plan before staking coming into existence or couldnt make the best out of seeing the opportunity, tbh this is the place where everything is gamed expecting another drop, stakers staking for monad, TIA for DYM even some sort of influencers promoting this narrative. whats the meaning of ASR.
700m jupuary plus 4x 50m asr =900m total added to circulation each year. I’m concerned about overall dilution. Jupuary and asr are both less important to me
strange, someone is pointing ASR as dilution, which is here on the first place for active yield bearing no one opposing that every action has relative reward mechanism, as simple as it sounds.
STAKING → ASR
JUPUARY → EVERY USER
It really isn’t about being selfish. Stakers play an immense role in the Jupiter ecosystem especially with voting and shaping the future of jup so it is only fair than they are concerned.
Jupuary however is a gift for the community content writers, cadets, mod, working groups and of course users of jup products. The concern of sell pressure I don’t see so much if stakers are given a good spice because many will retain their positions and even increase their stake. ASR is fine and good but it isn’t gift, jupuary is. Every one is just lending their voice to highlight their role in Jupiter’s growth. This is healthy and good as it shows we have a vibe community that is involved.
I just want the vote to pass as I trust that the team will do what’s best for a united community.
Thanks for your insightful post. I however feel that there won’t be any need for a halving. The cat burn at catstanbul of 30% is in my books enough to show the team’s commitment to help boss the price of $jup. The sell pressure will be quickly eaten up after the conference because I know that alot of bullish updates will emerge and help rally the pumps.
I really like the fact that you likened it to a business. ASR was promised and have been distributed without fail for 2 quarters now. This was the promise made to everyone which was made public.
Jupuary was also promised but never to just holders or those that vote but all users. If there wasn’t ASR, I would understand the outrage honestly but to demand a larger piece of jupuary is absurd. Many of us haven’t used the products from Jupiter. Some holders don’t participate in the community except voting. Many are farmers who just made one bulk swap, bought $jup and staked to get rewards.
What about the average user that engages products everyday, that attends planetary calls, that helps put out educational content on x, Reddit, telegram and discord, that’s is involved in our LPs?
Jupuary is a generous way to tell community members thank you and increase the seat on the table. That’s true decentralisation.
Regarding the people who help onboard others, educate and generally promote Jupiter via Social Media, IMO, they are the ones who deserve the airdrop the most, they are the people who bring value to the business by giving their time and knowledge to others in helping them use Jupiter. They are a great asset to the business and should be rewarded as such.
Truly, I have a few ideas on some alternatives with the 700 million tokens, rewarding the people who help onboard/help/work socials for Jupiter must get rewarded for doing so.
I don’t believe people who use the Jupiter platform should receive any tokens. (I say this while having 5 different wallets, 3 with 6 figures and 2 with 7 figures of trading volume) I think all Jupiter token holders (staked or unstaked) should receive a small portion of the 700 million tokens, as those tokens are part ownership of the business that they already part own.
What I’d like to see, is the bulk of the 700 million tokens being used as a form of “capital” to buy into or outright other platforms that would compliment Jupiter’s business, possibly even producing some stream of revenue… (leading to on market buy-backs maybe?)
However, selling those tokens would put downward pressure on the tokens price, so perhaps an “X” amount of Jupiter tokens (locked for a year or two) to take a stake in another complimentory platform or outright ownership?
