Jupiter, a decentralized exchange built on Solana, has announced the suspension of its decentralized autonomous organization (DAO) voting to improve its structure and accelerate growth.
Suspension of DAO Voting
Kash Dhanda, the chief operating officer of Jupiter, stated that DAO voting will be paused until 2026. He mentioned that the DAO structure is not functioning properly and requires deep reevaluation. "The window to define the future of DeFi is open, but it won't stay open for long," he noted.
New Strategy for Jupiter
Dhanda emphasized the importance of focusing on growth and operational efficiency. The suspension of voting will allow the Jupiter team to concentrate on execution, speed, and growth while they rethink their governance approach. "This is not an end to governance but rather a pause," he added.
Trends in DAO Governance
This decision follows backlash against traditional DAO governance, notably Yuga Labs pushing for a new model for ApeCoin governance, highlighting the impracticalities of conventional DAO structures. Dhanda noted that suspending voting will not affect existing staking rewards.
Jupiter anticipates that the pause in voting will lead to a more productive and unified governance model that better meets community and industry needs.
