Odaily Planet Daily reports: The vote on Jupiter’s proposal to reduce the net future token release to zero officially concluded today at 19:00, with the community approving the proposal by a 75% majority.
Previously, Jupiter proposed a new initiative to reduce JUP's net release to zero in the foreseeable future. The proposal primarily targets the three current sources of JUP release: the Jupuary airdrop, team token vesting, and Mercurial allocation unlocking, as follows:
First, indefinitely postpone the Jupuary airdrop and return all 700 million JUP tokens to the community multisig cold wallet for future use. The current usage and staking snapshots will be preserved. This matter will be revisited with the DAO when market conditions, token dynamics, and sentiment are more favorable.
Second, indefinitely suspend the release of tokens to team members. Instead, team members will receive JUP as a claim on Jupiter’s balance sheet—should any member wish to sell their allocated tokens, Jupiter’s balance sheet will purchase them directly. This move will further strengthen JUP reserves while demonstrating the team’s commitment to JUP’s future.
Third, fully hedging the selling pressure from Mercurial stakeholders will accelerate their unlock process, with an equal amount of tokens purchased via Jupiter’s own balance sheet to absorb any potential impact from token sales.