Jupiter Opens Voting on Fate of 215M Unclaimed JUP Tokens From Project's Airdrop

The vote follows the proposal by the DEX aggregator's lead developer and team earlier in the week.

Solana (SOL) decentralized exchange (DEX) aggregator Jupiter (JUP) has commenced voting on the fate of 215 million unclaimed JUP tokens from the project’s airdrop.

The vote, which began on Sept. 27, will determine whether the tokens will be burned, used to fund the Active Staking Rewards (ASR) program or be returned to a community multisig wallet.

The tokens are part of the unallocated 215,461,850.21 JUP from the project’s airdrop and farming, which were either unclaimed or belong to compromised wallets.

According to the proposal by the DEX aggregator’s lead developer and team, the excess JUP tokens will be put into an active staking rewards program for the next one year.

However, the community can also choose to burn the unclaimed Jupuary tokens or have them returned to a community multisig wallet.

Burning the tokens would remove the 215 million JUP from the circulating supply, which currently stands at 1.35 billion. This move is typically seen as beneficial to the asset’s value.

On the other hand, if the community votes in favor of using the 215 million JUP in the ASR program, the tokens will be used to reward JUP holders for their participation in community and DAO voting.

Holders who actively contribute to the DEX’s governance get JUP. Jupiter initially bootstrapped the ASR with 100 million JUP tokens, with 50% of these allocated to DAO voters within the first three months.

The next 50 million is scheduled for distribution at the beginning of October 2024. This allocation will go to participants in Jupiter voting between July 1, 2024 and September 30, 2024.