The recent vote on the Solana-based decentralized exchange Jupiter introduced significant changes to the way tokens will be distributed, including additional safeguards to prevent airdrop tokens from ending up in the hands of mercenary farmers who exploit rewards without genuine engagement.
On Sunday, the community group overseeing Jupiter’s decisions passed an eagerly anticipated vote to approve two incentive distributions totaling $860 million worth of tokens over two years. This decision is set to reshape the fundamentals of the JUP token.
The vote was part of the second round of the “Jupuary” initiative, a yearly airdrop of JUP tokens to users based on their interactions with the protocol over the past year. The proposal was revised after the initial version failed to gain sufficient community support. The updated vote modified how tokens would be distributed, implementing stricter controls to ensure that they go to legitimate, long-term users rather than mercenary airdrop hunters who only engage with protocols for the rewards.
“Efforts must be maximized to ensure JUP goes to the right people, those who are likely to be long-term participants, rather than those focused solely on rewards or a small minority of users,” explained Jupiter founder “meow” in a November proposal. “A portion of the allocation will be dedicated to incentivizing users to hold, buy, and vote throughout the year.”
“We will be focusing on real users, using key factors such as actual holdings, participation in the ecosystem, and consistency of usage. Unlike the first Jupuary, bots will be explicitly excluded,” meow added.
A snapshot to determine eligibility was taken in November, with a link to check eligibility set to be released later this month. The actual airdrop is scheduled for next month.
Meanwhile, JUP prices have fallen by 7% in the past 24 hours, reflecting a broader market decline.
