Meow’s 2030 Lock-in

Jupiter DAO
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The 2030 Lock-In Vote Begins: Let’s Go!

Today, I would like to kick off a vote that’s deeply personal and important for me. I am asking for the community’s help to stay fully locked in for 5 more years while sending a powerful signal that we are here to build Jupiter for the long term, regardless of all ups and downs.

Long Term Orientation

First off, Jupiter has always aimed to be the one of the most long term projects in the space - focused on the highest quality products, deepest community and most meaningful technology.

We build our strategic operations around the same long term ethos, whether it is in reinvesting the treasury on growth initiatives, setting fees in a way that balances out project needs/ecosystem sustainability, performing a major supply/team allocation burn, team cliff lock, community eats first principles and most recently, sending half of revs to the litterbox trust.

Community First

In addition, we have executed 2 Jupuaries so far totaling 1.7B JUP, representing more than 1B in present value to the community, which was all done way before a single team member received a single JUP.

These 2 Jupuaries, the very consistent community building approaches we adopted all throughout the first year of JUP, the G.O.A.T principles of the $JUP token, ASR, and an amazing Catstanbul event laid the groundwork for one of the best and vibrant communities in the space.

Team Growth

On the team side, we have grown from 15 people during the JUP launch to about 80 strong today, with new core skills across the entire stack - from deep blockchain tech, cryptography, mobile, distributed systems, community growth, liquidity systems, etc.

These new people are now driving areas that are critical for the next 10x expansion of Jupiter, driving our journey from a defi protocol into hopefully one of the most important projects in the world in the future.

There are 3 main areas for Jupiter:

  1. Jupiter: The best liquidity platform for trading, launch metas, mobile
  2. Jupiverse: A global movement to drive education, ideas and platforms
  3. Jupnet: Aggregate everything

A lot of these efforts are obviously just recently announced at Catstanbul and very new. That said, I have been working with them over the past few months, and while it took us quite a while to organize internally and set the appropriate priorities, I am extremely confident that the output will be apparent in the immediate months/year to come.

This new set of team members come from various strategic acquisitions (including 2 unannounced) and also recruiting the very best people we can find from the ecosystem. As the main cat/person (weremeow, geddit?) responsible for this expansion in scope and team, i will be directly accountable for the success or failure of these core initiatives.

Comp For New Team Members

The cash components of all acquisitions, team salaries and bonuses are all paid out via the team treasury. Additionally, these new team members have been allocated approximately 280M JUP (with a 3-4 year vesting schedule) for long term alignment.

Idea

Initially, the plan was to release the required JUP from the team strategic reserve (see audits and essays for details on the reserve), but right before Catstanbul, i had an idea.

What if I front the tokens using my full JUP allocation (283M after the 30% cut) and take the chance to secure a strong mandate from the DAO and community to lock-in for another 5 years, and in return for this commitment, ask for a 220M JUP bonus in 2030?

There are a lot of questions about this proposal, so let’s dive in:

Why front it from your personal allocation?

I strongly believe in the quality of the team we have assembled, the importance of the work we are embarking on, and the potential of this work to return strong value to the jupiverse.

As mentioned, I am the main one who started this expansion, so it is appropriate for me to have my full skin in the game.

Why 5 years?

First off, signaling. In a world of extreme short term gains and daily meme metas, i would like to signal to the ecosystem, market and team that we are very, very committed to taking the long term approach to 10xing Jupiter from where we are now.

It is also an extremely strong signal to the team, partners and community that we are here to ride through all ups and downs, bears and bulls, joys and despair, a critically important attribute if we aim to get anywhere near our lofty goals.

Lastly, it would be nice to just simply focus 100% on one singular, fully aligned, zero distraction goal for next 5 years - maximize the fuck out of jupiter n JUP. I really, really want to make it, you know?

Why Vote?

The most obvious reason is that I am requesting a bonus from the community reserve, so it needs to be voted on.

Next, I previously committed to not touching my tokens till June 2026, so if i want to use my allocation for this purpose, i need to get this buy-in.

Lastly, I think there are some really important questions that concern the entire crypto ecosystem around founder motivation, team comp, community involvement in projects, talent recruitment that are very, very much under discussed, so this is a good way to spark the conversation.

Why Bonus? Why not do it for free?

There are so many reasons, let me iterate it here.

First off, i am not a saint, i would like a clear reward for showing this kind of strong commitment.

Secondly, given that it does in fact bite into the community reserve, this means the community is giving me a clear mandate to lock in and focus. If there was nothing, it will not be a very meaningful vote, would it?

Thirdly, I want more ownership in the protocol i started and built from scratch. 220M JUP bonus from the community reserve, plus the 280M JUP i will have a solid 500M JUP in 2030. This represents 7% of total supply currently.

Given that I started Jupiter from scratch, rode through countless waves over 4+ years to bring it to where it is today, committing 5 years of lock in, i don’t think 7% is a lot if Jupiter continues to do well over this period.

Vote:

There will be 3 options for the vote.

  1. Yes, meow fronts the 280M JUP and locks in until 2030 in return for a 220M JUP bonus.
  2. No, the 280M JUP comes from the team’s strategic reserve and meow’s JUP unlocks in June 2026 as planned.
  3. Abstain

If option 1 is passed, if the community feels it is not deserved, it can be vetoed upon and the bonus can be adjusted or removed.

Also, I briefly proposed a 3rd option yesterday, but was convinced by many members of the community that there was too much overlap with option 1 and will distract from the spirit.

Summary:

  1. I believe in the future of crypto, and therefore I embarked on a major expansion over the past year to secure the necessary team to build out the platforms for it
  2. I believe in the new team we have very strongly, and am willing to use my full personal allocation for the JUP needed for their alignment
  3. I believe in the future of Jupiter, therefore i want to double down, lock in and stand by the strategies and decisions i make
  4. I believe I deserve 7% of Jupiter if i commit fully now AND we do well over the few years
  5. I believe it would be way more fun to do it together with the jupiverse

5 years is an eternity in crypto, but i am betting it will fly by with friends around :wink:

In a very real sense, this is my own degen long term leverage play.

I want to believe, lock in, ride it and shoot not for the moon, but for Jupiter.

Help me!

meow

46 Likes
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I am in for yes… for the bright future of jup …

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This is absolutely crazy, and this is the one we should vote about. 65 new team members get 4.3 million JUP each, for what???
Total craziness!
It seems to me that JUP is spread here and there freely…

I voted Abstain.

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How many new team members are there and on average how much are they being paid per year? I feel like these are important piece of info for a vote like this…

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Yes, it works out to an average of 4.3M each but I imagine it will be more for some and less for others depending on their level of contribution.

As to “for what???”, it is meant to be a long-term incentive. These tokens will be vested over 3-4 years meaning that these individuals will have to prove themselves over many years before receiving their “pot of gold” at the end of the rainbow. I don’t see this as “crazy” at all. It would be a well-deserved and acceptable reward should Jupiter reach the heights that everyone hopes, dare I even say expects, it will.

Also, with respect to Option 1, meow has framed the 220M JUP as a “bonus” but I tend to see it more as interest. Should Option 1 pass, meow will lend his 280M JUP for five years and will receive an additional 220M on the back end. This works out to ~12.3% compounded annually.

7 Likes
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There are approx. 65 new team members. I imagine their annual salaries are commensurate with the rest of the crypto space for the work they are performing.

Beyond that, it’s largely irrelevant to the proposal up for consideration.

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Abstain.

There is a point of “no return” of every token, and it is usually 80% from ATH

I believe for JUP that is 0.35$ and if you do not touch it because of this 200M when they hit the market in next few months, people will swap it to SOL, ASR is less than 10% this year ( 3% a month), Solana is always growing at 2x versus JUP, there is nothing to incentivize this people to hold JUP.

You will touch this 0.35$ in 2026 during bear.

You have very limited time, next few months to recover above 1$

This time in history should be used to ride Solana added to strategic reserve at least at rate 1:2 if not able to peg 1:1 ( JUP was always underperforming versus Solana for full 12 months )

If you miss this leg up, that is coming next week, next month which by all accounts you are currently missing this leg.

When your legacy old developer team start to cash out at end of their vesting period they will run JUP below 0.10 once they start. at that point you need 1000% to regain 1$.

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I love you man, but this is insanity sorry :smile: 100.000JUP per person per month… Insane, average holder of Jup has 1000 JUP maybe… that’s community that you need to take care of 1000 JUP holders.

You should not do this before strategic reserve, at 0.60$, you will show entire world that will be looking charts on every website that JUP is red and everything else is green.

People do not forget that.

11 Likes
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Further, whether it’s now or later, the 280M JUP for these incentives comes from the “Team” side of the token pool. That’s why the DAO is not voting on this. It is not within the DAO’s purview.

The 220M “bonus”, however, will come from the “Community” side of the token pool. Hence, why we are voting on those.

1 Like
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I love you @meow but I’m gonna have to vote no.

If we are sticking to 50-50 rule we need that community reserve to be used for community needs
:white_check_mark:asr continuation or boost?
:white_check_mark:fund more WG’s
:white_check_mark:other dao building initiative

It’s not that I don’t want you to get a bonus, it’s that I don’t want it to be at community growths expense

14 Likes
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100% agree. unlock! And leave

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I’m gonna be honest. No. I’m too deep into the :leafy_green: to keep myself. But there are definitely reasons. Just too many rewrites :person_shrugging:t2:

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A very interesting proposal indeed. I have been grateful for all the JUP airdrop since last year. The founders’ activeness and passionate pursuit in growing JUP has led me to think seriously of leaving a portion to keep staking until next cycle, despite everyone in my circle told me that was extreme foolishness. This vote is probably what I need to be convinced to leave an allocation since it shows great commitment. Honestly, I wish I can decide this at later time this year so I could weigh in all my profits from other investments into consideration… Thank you though will continue to think about this in the next few days. Good luck Cats!

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Approving this proposal would grant Meow an outsized allocation of 7% of the total JUP supply, which could concentrate too much power in a single individual. This could pose a centralisation risk and reduce overall community influence over governance and decision-making.

Additionally, under the “No” option, the 280M JUP would come from the team’s strategic reserve rather than being fronted by Meow, ensuring that community-owned funds are used as originally planned rather than rewarding a single contributor/founder with a 220M JUP bonus. Allowing Meow’s allocation to unlock as scheduled in 2026 maintains the original alignment without introducing additional long-term risks or incentives that could become problematic later.

In short, I love Meow a lot but I will be voting No to preserve decentralisation, avoid excessive individual control, and uphold the initial token distribution plan.

14 Likes
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@meow can you please explain the following. Where does the 280m jup come from you “get back” in 2030?
It can’t be your original allocated jup because it is already given to the new team members, right? Our am i missing something?

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The 280M will be returned to meow from the Team’s Strategic Reserve in 2030.

Basically, it boils down to this:

A.) Use meow’s 280M tokens (already in circulation) as long-term incentive for the new team members and then re-pay meow in 2030 from the Strategic Reserve

or

B.) Put 280M new tokens into circulation from the Strategic Reserve over the next 3-4 years (or whatever the vesting period will be).

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@meow please hire me in product :smiley:

Initially, I wanted to go with @lochie2001 and vote “No”, however, after looking at the numbers I am with @leinmi on this one.

Definitely for Meow getting the bonus, dude built this thing, but we need clearer acceptance criteria for “success”, and many other changes with more time to think.

I am going to go with “Abstain” to express my dissent. We prosper in peace, and for that we need proper alignment here, IMO.

3 Likes
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The 3rd option should be ‘‘Abstain and disagree’’. I abstain since no stronger language is available.

Anyone can divide 280 million by 65 (btw, 65 staffers must include a lot of rather inexpensive ‘‘social media PR types’’, theses are not all expensive software devs). So how much is the ‘‘top brass’’ taking in JUP salaries? Must be a lot. I could pay salaries too, if I can recoup 80% as my own salary… And pocket 500mio??? JUP down the road.

Greed is good; but this is just too much and you must know it, deep down… sorry meow.

I think a lot of us would want to discuss further and find transparent middle ground. But in this vote, nothing of the sort was offered.

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thanks for take your time to explain your analyzes, it’s helpful. I was waiting to read post from leaders and members from our Jupiverse… regards!

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Voting No. And one can see you did not ask for a super majority for this vote to pass ;), not surprising.

You want us to give you a fat bonus in 2030, when ZERO KPI has been discussed, what will be achieved, targets, etc… It’s all again about trust me bro, I will deliver.

If you were the CEO of a public listed company, I think the shareholders would host you out, just look at the price of the token.

I will repeat myself, a world class building team will not necessary be the best at launching a token.

And so far, anyone with logic would see that ASR diminishing returns, token being one of the worst performer in the entire Solana ecosystem, bad comms, constant delays, yes men army, etc…

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How do you vote ‘‘no’’? Option 2, or abstain?

1 Like