TL;DR
The co-founder of Jupiter, Meow, simply posted a proposal about altering the tokenomics of JUP by decreasing the full 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 the event you thought that sentence meant one thing about an interplanetary cat with cash, we bought 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 a substitute of getting a complete provide of 10 Billion JUP tokens, the full provide ought to be diminished by 30%, right down to 7 Billion JUP tokens.
(There have been a number of different concepts within the proposal as properly however let’s dig into this one).
Why would anybody wish to cut back the full provide of tokens?
You understand how the Fed retains printing cash? Making the worth of every US Greenback value only a tiny bit much less with each greenback that will get printed?
That is like the other of that.
JUP already has a set provide (which is one step forward of every fiat forex that exists at this time) however the concept right here is to scale back the full mounted provide by 30%, finally making every JUP token value a bit extra.
However are you able to simply try this? You possibly can simply change the ‘10’ to a ‘7’?
Properly the proposal nonetheless has to go to a vote – and that vote is occurring in July – but when it will get accredited by the group (the JUP token holders who vote), then sure, with approval, the Jupiter workforce can change the full provide from 10B to 7B.
Simply one other cool idea, solely in crypto.
