Thoughts about Jupuary vote

I’ve seen a lot of discussion about future Jupuary’s and the vote, here’s my take on it

Jupuary is not for stakers
This was really suprising when i first saw it. If you decide to exclude stakers/voters completely from the airdrop you’re basically asking the voters (people in power) to choose to dilute their own bags or not? → Clear answer would be to vote no since you’re giving away more $JUP to people that are not currently stakers and voters so they can just dump it all and move on → There’s no alligned incentives at all

This is the BIG issue here, the ones in power don’t get rewarded from the Jupuary by holding/staking/voting. One of the most important decisions about the exact coin you’re staking and actively voting on.

But stakers have ASR Yeah sure stakers have ASR which is great. That doesn’t exclude the fact that this is a huge decision to make and the ones that are staking are also doing so because they want to have a say in what happens in the DAO and what happens to their JUP. If you’re holding a coin you’d most likely vote for others to not get it for free so they can dump it on you and other holders that have been the ones driving up the price and supporting it.

But stakers are also users of the platform Yeah for sure but again that does not mean that it’s beneficial for them to vote yes. Let’s say you’re not a huge trader so you don’t have a lot of volume on Jupiter, however you do have a lot of staked $JUP. You’d probably be better off with you getting no $JUP at all. Since the amount of $JUP you would receive compared to other non stakers is not worth it, expecting non stakers to dump their allocation. This is an assumption but ask yourself this: If they would not dump their allocation why wouldn’t they be holders already from previous Jupuary or buy $JUP from the market?

Meow mentioned it’s not about individual advantage
Well, it is in fact about individual advantage. Everyone will vote for what they think is best for their bags, could you expect people tovote based on something else?

However it could be the case that the criteria of the proposal make it so that there’s so much potential and additional value that will come from Jupuary that there’s in fact enough reasons to vote for another Jupuary. This can only be achieved if you make the proposal so that it gives an individual advatage to the stakers/voters (or at least make them feel like they have the idividual advantage and are therefore making the best decision)

Meow mentions that the community shouldn’t vote on self interest but decide on the ‘gift’
This again goes back to the previous poins, people in crypto care about their bags and only their bags. Well, there could be some minor amount of people that will care about Jupiter despite the impact it has on their $JUP holdings, but for 99% of the people they won’t care for a community if it’s not making them any money which in this case comes down to buy pressure on $JUP.

Surely we can all agree on that, everyone is here to make money at the end of the day.

Potential penalty for taking the allocation immediately
Ideas floating around of the initial claim only being 25-40% so that people claiming and dumping will have less price impact. Nevertheless there will be people that are planning to just wait for the time being to claim when it goes higher. People that want to sell will sell, just the way it is.

The idea of these unclaimed amounts then being used to fund further ASR rewards is appealing though for stakers, that’s one incentive that could push stakers to vote for yes

Last notes

I want to say I really appreciate and respect Meow and the entire Jupiter team. That’s also the reason I wrote this entire piece to provide another perspective on the situation. Please align the incentives as much as possible throughout Jupuary and the entire DAO since it makes it so much easier to make the right decisions. I can see the vision for Jupiter to grow and why Jupuary can help achieve this vision and growth. BUT at the same time you need to make it so the current $JUP holders and supporters see this as more significant than the inevitable sell pressure that Jupuary will bring as this directly effects them (especially short term) If Jupuary were to take place, which can be great if executed correctly, we should also consider that we don’t want current stakers/voters to leave the community because they feel like it’s not worth to hold this while others will dump on them and their voices are not being heard throughout this voting process. It would be a shame to lose a portion of your current supporters in order potentially bring in new supporters without any guarantees

Original Tweet: x.com

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I already wrote a long answer but let’s just wait for the draft proposal. Hope it’s fair.

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Should hopefully come out soon! Exciting times

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This will only be lucrative if enough people take the 25% jup penalty and exit. But what if most people decide not to sell immediately and lock for 1 year, then the ASR rewards wont increase much which will again be a loss for current stakers.

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Very interesting and you have some legit concerns. However I think there will be again unclaimed tokens. Additionally many will take the 25%. Am sure many will claim before 80%. Those that hold over a year will probably get a lot more free tokens than someone claiming after 40%. Plus the price of Jup might go as high as 10$. Alt season has not even started yet. Except for some of the memes. I remember getting the uniswap tokens $1.5. They went to like $24 by the end if I am not mistaken. Plenty of insensitive. What’s the alternative buy memes? Plus if the vote doesn’t pass you might as well unstake now as Jupiter won’t grow and get a bad rep. Many people naturally started using the exchange because of the “promise” for airdrops. I think all tokens not claimed or early unstaked tokens should go to all stakers. This would be best done by a daily distribution and an increase % wise the longer you stake.

I completely agree with your take, Ultimately, my argument is that staking should be recognized as a form of interaction with JUP products. Stakers are not just holding tokens, they are actively supporting and securing the ecosystem, and that contribution should be acknowledged. Moreover not everyone is a trader, some people may have bought some JUP staked it and Voted on every proposal, all that is interacting, one could even argue it is one of the most important interactions.

If you are interested in more of my points they are outlined here.

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It feels quite bad, actually. We’re essentially giving a gift to people who can then dump on us. We’ve committed our funds with a 50-day lock, and then someone comes along, gets a gift for swapping, and potentially dumps on the project we’re trying to secure. I don’t think it’s wise to exclude stakers. The team should include and reward them for their loyalty to the project, not exclude them with the mentality of “oh, they’re already here, we want new blood.” It’s shortsighted to think that way.
I know the stakers never sell their allocation, they will stake more. Jupuary is negative at this point. I respect the team a lot and trust them, but they should listen to the community. After all, we are here to make some money. I staked in the first place because of Jupuary. The team mentioned that staking shouldn’t be just to get gifts. I don’t have the time to make meaningless swaps or use DCA when I don’t need it. I prefer to invest my money in projects I trust to generate returns.
The 10k JUP I have staked was not acquired as an airdrop; I bought them from the market and staked them because I saw the potential in the project. Excluding us will just make us feel that our judgment was wrong.

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Jupuary is and was always a gift, many bought and myself so to earn ASR which cost minimal interaction and by that as per 45% APY 10k would significantly propose 4.5k more on top of it so u mean that aint fulfilling? thats literally passive income, jup is not limited to votes, DAO is organised to encourage users to participate in governance and significantly ASR jumps in to incentivize every proposal no matter the outcome.

ur mad just because u couldnt use jup products thats ur perspective not like remaining ones so thats not fair for others. Jup offers wide range of products which eventually marks revenue to the protocol which is more beneficial in long term creativity and sustainability of platform to make it more reliable.

teams do care about price impact thats what immediate claimers are taxed so to furthermore incentivize ASR more prominently.

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I mean… you’re not wrong in a lot of this.

This is a great point people haven’t raised/

We press a button , we get an awesome amount of jup back. And people expect more?

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Your observation and points are valid. We will however get a bit of clarity in the coming days. I’d say we are patient as we continue to consider all options

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Tomorrow is not far. Let’s chill out guys. We’ve literally broken the record for discussions in the DAO on this topic. That drafted proposal & looooooooooog essay by Meow & team will be out for all to finally see what the team thinks!

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Looks like the new proposal covered most of these issues, i dont think every product should be rewarded the same, holding jup vs staking jup are vastly different and should reflect that in rewards.

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