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Jupiter to Lower JUP Staking Lockup to 7-Days Amid Major DAO Changes

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Popular Solana-based decentralized exchange, Jupiter, is making massive changes to its decentralized autonomous organization (DAO). In an update shared with the community this week, core Jupiter Team member Kash shared three major improvements being made to the JUP DAO. These changes, according to the Jupiter personnel, incorporate ideas from the Jupiter community and will collectively ensure that the JUP token gets the attention it deserves.

Jupiter Makes Changes to DAO to Meet JUP Holder Expectations

First of the changes coming to Jupiter is a scaling back of the DAO. Before now, Jupiter operated with a structure where community members voted on proposals designed to shape the future of Jupiter. While some proposals were major, others were minor and inevitably created an unfavorable political atmosphere in the Jupiter realm.

Going forward, Jupiter is scaling back to DAO to ensure that the community only participates in “high-impact voting” proposals revolving around tokenomics and treasury stewardship. This change means fewer votes, without compromising on Jupiter’s core promise of giving JUP holders a voice in its future growth.

The second change connects to the unstaking period for JUP tokens locked for voting. Previously, users had to wait 30 days to regain access to JUP, which was locked for voting. However, Jupiter will now reduce the staking period to seven days, with that change to roll out in the coming weeks, according to Kash.

Lastly, Jupiter will allow the community to decide the future of around 121 million JUP tokens ($43 million) kept in the JUP Litterbox. Jupiter uses 50% of its revenue to buy back JUP tokens kept in the litterbox. The community has often called for the team to burn these tokens, and the latest update suggests that the project would follow that path. Nonetheless, Jupiter will soon open community discussions, and a future vote will decide what happens in the end.

Will Jupiter (JUP) Bounce Back?

Despite being tied to one of the largest DeFi protocols on the thriving Solana ecosystem, JUP’s price performance has failed to meet investor expectations. The token is currently trading at 82% off its all-time high of $2.04, with a market cap of $1.15 billion at the time of writing.

The Jupiter Community hopes that the latest changes will reignite public interest in JUP and attract larger investors, many of whom may have been put off by the lengthy unstaking period and politically driven nature of its investor base. However, like most things in the industry, only time would reveal if these changes drive a Jupiter renaissance or send the token crashing even lower.

The post Jupiter to Lower JUP Staking Lockup to 7-Days Amid Major DAO Changes appeared first on CoinTab News.

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