Jupiter, a Solana-based decentralized exchange (DEX), will rework its airdrop strategy after a governance proposal to distribute $1.6 billion in JUP tokens failed to secure the required 70% supermajority.
The proposal, introduced by pseudonymous co-founder Meow, sought to airdrop 1.4 billion JUP tokens to platform users in two waves, potentially starting in January. However, despite receiving 364 million JUP in voting power, only 58% of participants voted in favor.
In response to the outcome, Meow announced on X (formerly Twitter) that a second vote would be conducted after addressing feedback from dissenting participants. Meow acknowledged the process’s challenges, saying, “If we unify behind a plan—we will emerge far stronger.”
Some voters voiced support for the initiative but suggested adjustments. One user, Juanortuzar.sol, commented, “I think the idea to ‘Grow the Pie’ with Jupuary is great. I would blindly vote ‘yes’ if the quantity was different.”
The Jupiter team plans to consider these perspectives and modify the proposal to garner broader support. A revised version is expected to be submitted for voting next week.
Meanwhile, JUP, Jupiter’s native token, has risen nearly 4% today, trading at $1.15, as the community awaits the next steps in the governance process.
