Jupiter's 7-day LFG launchpad has ended, and 96 million jups will be removed from the DLMM pool immediately.
Jupiter founder meow tweeted that as of the time of publication, the Jupiter team’s launch pad liquidity position was approximately 96,164,550.29 JUP and 69,927,955.07 USDC.
According to the previous design, the 96M JUP tokens in the position will be removed and immediately sent to the cold multi-signature wallet.
The USDC portion will be removed in batches of $10 million starting today and will take several months. And meow assures users that the Jupiter team will gradually withdraw USDC’s liquidity in the long term. $JUP
Meow also announced the third key component of Jupiter, JupiterDAO.
1. The team plans to use the 100 million Jup fees collected in the jup launchpad as rewards for participating in JupiterDAO governance and distribute them within the first half to one year.
2. 75% of the US$8.2 million in rewards obtained from the DLMM pool will be used as DAO operating expenses.
3. The initial main role of the DAO is to evaluate and approve new launchpad projects and other matters (appropriations, etc.) governance voting.
4. In the future, the launchpad fees on Jupiter will also be distributed to the DAO managers.
5. The three options for launchpad are:
Sanctum of LST track
SharkyFi for NFT mortgage lending
Cross-chain project debridge
Jup’s token empowerment has begun to take shape. What is your prediction for the price of Jup?
