Really thoughtful proposal, and I appreciate the intent behind it — especially the desire to attract long-term capital and provide more legitimacy and backing to the JUP token through a BTC/SOL reserve.
That said, I think we may be looking at the wrong layer of the problem. The core issue is not that investors don’t feel “safe” because of lack of reserves. It’s that the JUP token lacks meaningful utility or integration within the ecosystem it’s meant to govern. A token backed by BTC might sound attractive from a market optics perspective, but it doesn’t solve the structural emptiness at the heart of JUP — the fact that holders can’t do much with it beyond governance… and even that is very limited.
If the goal is to attract capital and long-term engagement, we should focus on mechanisms that build real value around the token:
Protocol fee-sharing models for stakers
Access perks or benefits within Jupiter products
Builder or integration incentives for using JUP in new tools
Treasury yield programs that funnel returns back to stakers
Cross-DAO participation programs or governance token swaps with aligned protocols
In short: let’s build an economy around JUP, not just a vault behind it.
Also, and importantly — there’s currently no DAO structure tasked with reviewing proposals like this in any official or methodical way. Just posting on Jupresear.ch doesn’t create enough friction or structured debate. There’s no guarantee this idea will even be read by the right people, let alone considered for a vote.
That’s why we urgently need to form something like a DAO Council or a Core Governance Working Group. A body of committed, high-stake members who can gather proposals like this, refine them, stress-test them with the community, and help guide them into formal consideration. Without that, we’ll keep having good ideas floating in the void with no path forward.
Appreciate the work you put into this. Let’s keep iterating — but let’s also start building the foundation for a DAO that can act on ideas like this.