Jupiter DEX Airdrop Proposal: Aiming for Balance Between Stakers and New Users

Looks like the second Jupuary airdrop proposal from the Jupiter DEX aggregator is about to get a thumbs up! It seems that the voting is flying fast, and we’ve reached the needed minimum in no time, so more people seem to be backing it. This proposal aims to tackle the worries regarding the long-term holders and stakers. It will be open for voting until December 8, so there’s still time to weigh in. The early indicators suggest that this version could actually win.

Support on the Upward Trend

Currently, the vote support is above 88%, based on JUP that has been deposited for a ‘yes’ vote. If this keeps up, we might see it passing over the weekend. The last proposal was declined with a 42% no vote, so definitely not a supermajority that would get it through.

Rewarding Stakers and Real Users

The deal here is two Jupuary events, which Jupiter DEX aggregator is hoping will keep the good ole airdrop vibe alive. The updated proposal does seek a middle ground for the initial holders and stakers while also letting in new users. To keep things fair and in check, Jupiter will put anti-farming and anti-Sybil attack measures in place.

It's basically a battle of the older whales with big JUP bags against the potential airdrop farmers. However, they have split the new JUP airdrop in favor of both new community members and the stakers.

Jupiter’s main developer, @weremeow, is all about targeting actual users with the airdrop. They’re doing this by tracking holdings, participation, and consistency to make sure no deliberate farming occurs. There’s a concern that the farmers might just dump their JUP right away, hurting the market price.

The Stakers' Incentives

One big thing is that the new JUP airdrop has started to work its way toward stakers. Each Jupuary event, they're saying it’ll be 700M JUP that gets airdropped. Some of that allocation will be for incentivizing buying, holding, and voting with JUP throughout the year. Any unclaimed JUP from this part will go into Active Staking Rewards. The stakers are getting a specific allocation, with more for them if they have a longer history of holding and being consistent.

This entire proposal is expected to finish before January 25, when Jupiter DEX aggregator is hosting a meeting in Istanbul. The two events are meant to help Jupiter DEX speed up its pace as part of the Checkpoint 2027 roadmap.

Plans for the Future and Token Uses

Jupiter aims to be the all-in-one app with Web3 and trading features, and they have more milestones lined up for their tech stack and JUP token. So, @weremeow was determined to organize two Jupuaries to avoid delaying future milestones.

They’ll also be revealing new token utilities after the Istanbul event, called Catstanbul. The next few years will see a token burn and an audit, along with community discussions about how the startup should be used.

JUP on the Price Rise

It’s interesting to note that Jupiter is among the few projects with a significant team allocation that hasn’t acted like a VC-backed token. Instead, the team and @weremeow have been focused on building a community of holders, encouraging content, regular votes, and engagement. JUP is vital for nearly all Solana activities, serving as a go-to for finding the best DEX trading routes.

In the weeks leading to the Jupuary votes, the JUP token has also made its presence felt. JUP surged from its standard $1 range to $1.30. Now, some think it might even touch the levels it hit before, around $1.85, but others are bracing for it to break into a new price range.

JUP is somewhat restricted by selling from the DLMM pool, which does provide a little bit of stability on the downside. Once the development pool checks off its goals, the price of JUP could start to explore a new range.

The Airdrop's Historical Context

In the past, the Jupuary events have been bullish for JUP, boosting the project’s profile. The previous airdrop landed JUP into 639,161 addresses, with over 966M JUP claimed. About 67% of all Jupiter users were eligible to claim the airdrop.

Historically, only 7.7% of recipients held onto their JUP, while the majority did hold nothing. The likelihood of selling an airdrop still remains a concern, but the next two Jupuaries may have a better balance for long-term holding.

The Jupiter DEX was already aggregating its own liquidity near an all-time high of $2.4B. The aggregator also saw peak numbers of swaps in the last couple of months.

Wrapping Up

The second Jupuary airdrop proposal from Jupiter DEX aggregator is a significant step toward balancing rewards for stakers and new users. By implementing anti-bot measures and ensuring fair token distribution, Jupiter aims to maintain community trust and prevent the centralization of rewards. As the proposal nears its final voting phase, the potential for a successful airdrop event looks promising, setting the stage for Jupiter's growth and innovation in the decentralized cryptocurrency space.