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Jupiter Exchange has announced a significant proposal to reduce the total supply of its JUP token by 30%. The reduction will come from both the team's allocation and future emissions. This move, which includes burning 3 billion JUP tokens, is aimed at creating value for the community. The team will also stake 100% of their year-1 cliff for an additional two years. This proposal has led to a 7% rise in the JUP token's value. The community-driven initiative seeks to ensure no supply shock and maintain long-term stability. Additionally, the proposal includes plans for future Jupuary and ASR seasons.
Meow speaks on a Proposal to BURN 30% of the total $JUP token supply https://t.co/tvG3Gd5exy
everyone is excited about $JUP supply reduction, but there is much more behind it the Jupiter team will be staking 100% of the 1st year cliff for 2 more years to ensure no supply shock many people in the team are committing to locking all tokens vested till June 2026, well… https://t.co/psdWFnR5PT
.@JupiterExchange’s JUP token rose 7% on a proposed tokenomics change. Pseudonymous co-founder @weremeow shared a draft of a governance proposal to reduce both JUP’s 10 billion total token supply and the team’s cut by 30%. @httpsageyd reports. https://t.co/blWBVlLtZ3