PANews, February 22: Jupiter’s vote on “reducing the net token release to zero” officially concluded today, with the community approving the proposal by a 75% majority. According to prior reports, the proposal aims to reduce JUP’s net token release to zero for the foreseeable future, through measures including: postponing the Jupuary airdrop and returning 700 million tokens to a community cold wallet multisig address while preserving the original airdrop snapshot; pausing team token vesting, with any liquidity needs directly covered by Jupiter’s balance sheet; accelerating Mercurial token unlocking and offsetting sell pressure by purchasing an equivalent amount of $JUP.
Jupiter's Proposal to Reduce JUP Net Release to Zero Passes with 75% Support
PANewsShare
Summary
Jupiter’s proposal to reduce the future net release of JUP tokens to zero passed with 75% support. The plan delays the Jupuary airdrop, returns 700 million tokens to a community cold wallet multisig, pauses team vesting, and accelerates Mercurial unlocks. The move aims to strengthen support for JUP by offsetting sell pressure through token buybacks. With such strong voter backing, Jupiter remains a top altcoin to watch in the market.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.