TL;DR
The co-founder of Jupiter, Meow, simply posted a proposal about altering the tokenomics of JUP by lowering the whole provide from 10B to 7B JUP tokens.
Full Story
The co-founder of Jupiter, Meow, simply posted a proposal about altering the tokenomics of JUP.
👆 In case you thought that sentence meant one thing about an interplanetary cat with cash, we obtained you (though it’s not that removed from the reality).
Right here’s what it means:
JUP is the token that powers the Solana-based decentralized change aggregator, Jupiter.
Meow, Jupiter’s co-founder, simply proposed that: as an alternative of getting a complete provide of 10 Billion JUP tokens, the whole provide needs to be decreased by 30%, right down to 7 Billion JUP tokens.
(There have been just a few different concepts within the proposal as effectively however let’s dig into this one).
Why would anybody wish to cut back the whole provide of tokens?
You know the way the Fed retains printing cash? Making the worth of every US Greenback price only a tiny bit much less with each greenback that will get printed?
That is like the alternative of that.
JUP already has a set provide (which is one step forward of every fiat foreign money that exists immediately) however the concept right here is to cut back the whole mounted provide by 30%, in the end making every JUP token price a bit extra.
However are you able to simply do this? You possibly can simply change the ‘10’ to a ‘7’?
Nicely the proposal nonetheless has to go to a vote – and that vote is going on in July – but when it will get accredited by the group (the JUP token holders who vote), then sure, with approval, the Jupiter staff can change the whole provide from 10B to 7B.
Simply one other cool idea, solely in crypto.
