Second Jupuary proposal may pass this week, setting up two major airdrops

The second Jupuary airdrop proposal by Jupiter DEX aggregator seems likely to pass. The voting quickly hit its required minimum, with more supporters in favor of the new proposal.

The second Jupuary proposal for Jupiter DEX has a chance of passing, after addressing concerns about the role of long-term holders and stakers. The proposal is still open for voting until December 8, but there are early signs that this version may pass.

Voting in favor is so far above 88%, based on JUP deposited for a ‘yes’ vote. If the trend persists, the proposal may pass during the weekend. The previous proposal was declined with a 42% vote against, making the supporters insufficient to achieve a supermajority of at least 70%.

Jupuary to favor stakers and real users

With two Jupuary events, the Jupiter DEX aggregator will extend the airdrop trend. The new proposal tries to balance the interest of early holders and stakers, while also onboarding new users. To prevent aggressive farming and Sybill attacks, Jupiter will also put in anti-bot protection.

The vote puts older whales with significant JUP holdings against potential airdrop farmers. However, the proposal splits the new JUP airdrop with shares for both new community participants, and stakers.

Jupiter’s lead developer, @weremeow, also noted the airdrop will target real users, tracking holdings, participation and consistency, to avoid deliberate farming. One of the concerns is that farmers would sell their JUP quickly, depressing the market price.

The big change is that the new JUP airdrop will set aside a portion specifically for stakers. In each Jupuary event, the project will airdrop 700M JUP. Some of the allocated tokens will incentivize buying, holding, voting with JUP throughout the year. Unclaimed JUP from this portion will go toward Active Staking Rewards. Stakers will receive a special allocation, with a bonus for a longer history and consistency.

The entire proposal is expected to wrap up before January 25, when Jupiter DEX aggregator holds its meeting in Istanbul. The two events aim to speed-run the process for Jupiter DEX, as part of the Checkpoint 2027 roadmap.

Jupiter aims to become an everything app with Web3 and trading features, setting up additional milestones for its tech stack and the JUP token. For that reason, @weremeow was keen on organizing two Jupuaries, to avoid delaying additional milestones.

Jupiter DEX aggregator will announce new token utilities after the Istanbul event, Catstanbul. The coming years will hold a token audit and a burn, in addition to community discussions on the startup’s usage.

JUP expects breakout to a new price level

Jupiter is among the few projects with a significant team allocation, which has not behaved as a VC-backed token. Instead, the team and @weremeow are still building up a community of holders, in addition to encouraging content, regular votes, and engagement. At the same time, Jupiter is key for almost all Solana activities, as a tool to find the best DEX trading routes.

In the weeks leading up to the Jupuary votes, the JUP token also reawakened. JUP rallied from its usual range around $1 up to $1.30. The token may revisit levels close to its all-time high of $1.85, though others expect a breakout into a new price discovery range.

JUP is limited by selling from the DLMM pool, which ensures some price stability on the downside. Once the development pool has completed its goals, the price of JUP may enter a price discovery.

In the past, the Jupuary events have been bullish for JUP, due to increasing the project’s popularity. The previous airdrop put JUP into 639,161 addresses, with more than 966M JUP claimed. Nearly 67% of all Jupiter users were eligible to claim the airdrop.

Historically, only 7.7% of recipients held their JUP, while the rest retained no balance. The tendency to sell an airdrop remains a concern, though the next two Jupuaries may have a better long-term holding balance.

The Jupiter DEX already aggregates its own liquidity near an all-time high of $2.4B. The aggregator also facilitated peak numbers of swaps in the past two months.

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