Jupiter

JupiterDAO’s Voting For Supply Burn Nears Deadline With High Participation

Date: Sun, August 04, 2024, 05:14 AM GMT

JupiterDAO has issued a final reminder on the X platform, informing users that there are only 12 hours left to participate in the ongoing proposal vote. The proposal in question seeks to decide whether to burn 30% of the JUP supply.

For this first vote, JupiterDAO aims to reduce the token supply from 10 billion to 7 billion. The reductions will come from the following sources:

  • The team will voluntarily cut 30% from their assigned allocation.
  • A corresponding 30% reduction in January emissions.
  • The rest of the reductions will come from previously assigned allocations such as LP (Liquidity Provider) and strategic reserves.
Jupiter Vote Proposal
Source: Jupiter

So far, over 250 million votes have been cast, marking the highest level of participation in the DAO’s history.

The significant involvement from the community highlights the importance of this decision and the commitment of JUP holders to shaping the future of the project. As the deadline approaches, all eyes are on the final tally, eagerly awaiting the outcome that could bring a new era for JupiterDAO.

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