My Fellow Cadets, the time has come to finally explore the dark side of the moon and explore some arguments against renewing Jupuary.
As a dedicated JUP holder and voter who has actively participated in every proposal, I want to take a moment to share my thoughts on the upcoming decision regarding the renewal of Jupuary. This year’s Jupuary was a wonderful celebration for our community, rewarding real users who engaged with our product without the expectation of an airdrop. It created excitement and liquidity in the Solana ecosystem, and while I didn’t receive JUP tokens directly, I truly appreciated the benefits it brought to the eco as a whole from memes to beneficial projects and everything in between.
However, as we approach the potential renewal of Jupuary, I believe it’s important to reflect on how things have changed since then. At the time of JUP’s Token Generation Event (TGE), we saw a peak in staking and farming activities as people rushed to participate. Many are now looking ahead to the next Jupuary in 2025, but we must ask ourselves if rewarding farmers is the direction we want to take.
One concern I have is the issue of diminishing returns. The excitement we felt during the TGE brought a wave of new holders and supporters to our community. However, each subsequent Jupuary may not generate the same level of interest or value. To put it simply, think of it like drinking water: the first glass quenches your thirst, the second is refreshing, but by the time you reach the fifth or sixth, it may start to feel overwhelming. This analogy reflects what we might experience with repeated Jupuary events. Instead of diluting our efforts, why not focus on initiatives that offer a better return on investment for our community?
I also want to emphasize the spirit of “No Cats Left Behind,” which I deeply appreciate about our group. I truly believe in JUP and invest 20% of my income each month to buy and stake more tokens. My family, like many others, is not wealthy, and we make sacrifices to support our investment in JUP. We’ve limited our outings this year to save money for this purpose. It’s concerning to think about the potential doubling of tokens in circulation, which could lead to devaluation of our holdings. I believe we should prioritize initiatives that uplift and reward those of us who are committed to the project, rather than catering primarily to airdrop farmers and casual participants.
Lastly, I feel it’s crucial to address the concern of transparency in this decision-making process. Voting to extend Jupuary feels akin to asking voters if they would support a significant increase in the supply of USD without knowing how it would affect their savings. We should have clarity on whether DAO voters, like ourselves, would receive any allocations from such a decision. It’s essential for our community to feel informed and involved in these discussions.
Hence, I am starting this topic to enable more discussions around the topic; including the arguments against Jupuary in general, or a very very very reduced amount as compared to the last time.
Sincerely,
A fellow Cadet! #J4J