On September 27, the Jupiter team announced the start of voting on the fate of 215 million unclaimed JUP tokens.

Proposal Outline

The voting follows a proposal by the lead developer and team to actively utilize the surplus JUP tokens. The total number of unclaimed tokens is 215,461,850.21 JUP, unclaimed from airdrops or in compromised wallets. The proposal outlines several options for these tokens: use in an active staking rewards (ASR) program for the next year, token burning, or returning them to a community multisig wallet.

JUP for ASR

If the community approves the use of unallocated JUP tokens in the ASR program, it will reward JUP holders for participating in community and DAO voting. Jupiter initially allocated 100 million JUP for ASR, planning to distribute 50% within the first three months. The next 50 million JUP are scheduled for distribution in October 2024 to participants voting between July 1 and September 30, 2024.

Possible Impacts

If the community chooses to burn the unallocated tokens, 215 million JUP will be removed from circulation, potentially increasing the asset's value. Alternatively, returning the tokens to a multisig community wallet will provide additional opportunities for future initiatives.

The voting outcome will determine the future of the unallocated JUP tokens and their impact on the Jupiter ecosystem.