Jupiter, a decentralized exchange (DEX) built on the Solana blockchain, will revise its proposed airdrop plan after a governance vote failed to secure the necessary support.
Jupiter, a decentralized exchange (DEX) built on the Solana blockchain, will revise its proposed airdrop plan after a governance vote failed to secure the necessary support.
The proposal aimed to distribute up to $1.6 billion worth of JUP tokens across two separate airdrops scheduled for future dates. However, the plan did not achieve the required 70% supermajority, garnering only 58% approval from voters.
The governance proposal, initiated by Jupiter co-founder Meow, attracted significant interest, with over 364 million JUP tokens participating in the vote. Despite the high level of engagement, 42% of voters expressed opposition, indicating a lack of consensus on the airdrop's scale and structure.
In light of the vote's outcome, Meow announced on social media platform X (formerly Twitter) that a second vote would be organized.
He emphasized the importance of addressing the concerns raised by dissenting voters, stating, “While this uncertainty is definitely tiring… it is also crucial to remember that if we do unify behind a plan—we will emerge far stronger.”
Feedback from the voting community revealed that while many supported the concept of the airdrop, concerns about the quantity of tokens proposed were prevalent.
User comments reflected a desire to adjust the distribution plan, with suggestions for a revised token quantity likely to be considered in the next proposal.
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