Solana’s decentralized exchange Jupiter (DEX), will re-evaluate its airdrop program after the governance proposal failed to reach 70% of supermajority. This would have resulted in $1.6 billion JUP worth being distributed to its users across several waves.
This week, the Jupiter DAO proposal, authored by Meow (a pseudonymous Jupiter founder), was put up for vote. Voters could decide whether Jupiter airdropped $1.6 billion worth of JUP in two separate airdrops that were planned to take place next January.
This proposal received more than one response. JUP has a voting power of 364 millions. Voters only voted 58% for the distribution of tokens.
“Because we are looking for a 70% supermajority, we will be proceeding with a second vote,” Meow X said it Twitter is a social networking site. “While this uncertainty is definitely tiring, and weighing down on sentiment, it is also crucial to remember that if we do unify behind a plan—we will emerge far stronger.”
Meow and Jupiter are now going back to drawing boards, reviewing feedback and addressing concerns raised by dissenting votes in a revised proposal that is scheduled to be voted on next week.
“I think the idea to ‘Grow the Pie’ with Jupuary is great. I would blindly vote ‘yes’ if the quantity was different,” Say user Juanortuzar.sol Forum for proposals
The JUP quantity—1.4 billion tokens in total—and other factors may need to be modified for Meow and team to get the additional support they need to earn a passing proposal.
JUP, Jupiter’s native coin, has gained nearly 4% in the past day, trading for $1.15.
Andrew Hayward is the editor
