Jupuary is about "making a bigger cake" rather than "dividing the cake".

Author: Meow, Founder of Jupiter

Compiled by Luffy, Foresight News

An open and diverse mindset has taught me one thing: figuring out what I want is the hardest and possibly the most important thing. Without this clarity, I can easily fall into endless pain and uncertainty with the people I care about the most.

Similarly, I believe that the lack of clarity in Jupuary (note: Jupiter's Airdrop campaign) and Jupiter's broader goals may lead to many conflicts among the stakeholders I care most about (i.e., the community, users, and of course, the team).

Jupuary is an unprecedented event that requires voters to work together to "make the cake bigger". If we don't have good communication about this, we will encounter big problems.

This article aims to explain in detail what we hope Jupiter, Jupuary, and JUP will achieve, and to propose a clear process for us to understand what each person wants.

But first, let's briefly introduce Jupiter.

Fundamentals of Jupiter

Let's start with a simple statement that may have been overshadowed by the recent debate and confusion surrounding Jupiter: Jupiter is in very good shape.

Over the past three years, we have invested heavily to ensure a solid foundation in all key areas, including team, capital, Token, community, and creativity.

In terms of team, we have demonstrated the ability to continuously provide a world-class platform: building a top aggregator in the Crypto Assets field, one of the largest Decentralization exchanges (with a volume of less than 12 billion USD in less than 12 months), and pioneering a Token launch platform based on a new Liquidity model. We are also constantly trying new products, such as Jup Mobile and ApePro, which have gained wide recognition within just one month of their launch.

Apart from being able to launch high-quality products, I firmly believe that we have one of the most united and trustworthy teams in the encryption field. Here is a short story:

When I realized that the community was concerned about our high FDV, I suggested to the team to burn 30% of the total supply of JUP. I was deeply moved to see that they unanimously agreed to burn a large portion of their own shares (600 million tokens), while also agreeing to lock their initial cliff and not sell most of the vested tokens.

You may find that there are many teams willing to do so in the encryption field, but our team agreed without hesitation, because they really want to assure the community and each other that we will continue to build here.

Secondly, Jupiter has a very strong financial foundation. Currently, we have approximately $150 million worth of assets in our treasury, which come from our initial startup capital pool and a positive cash flow business composed of multiple revenue streams.

We strictly control costs, which means we do not need to sell any JUP to fund operations. A strong financial foundation allows us to think, act, and build the future proactively. This mindset is more like a rapidly growing startup than a typical encryption project, the focus of which is to lay the best possible foundation for the long journey ahead, rather than exhausting potential in the early stages.

Thirdly, JUP Token is one of the most interesting experiments in governance. We give it real power to decide the direction of Jupiverse, not just symbolic power. The upcoming Jupuary vote is a typical example. We want to establish long-term trust in the market for the Token, and we must earn it, which is why we do things like transparency audits and C.A.T contracts. The whole process is organic, unlike the 99.9999% nonsense you see elsewhere, it's really what you see is what you get.

Fourth, we have one of the most active communities in the Cryptocurrency field. We are the largest DAO in the world with over 260,000 independent voters. More importantly, we are the most engaged DAO in the world, with every vote sparking community discussions and bringing our community closer together. We have also pioneered an innovative distributed strategy execution model within our decentralized working groups. Each working group operates transparently, benefiting the community, and assumes full responsibility for the DAO. They play a key role alongside the team in expanding and enriching Jupiverse.

Finally, it is also crucial that our community is united in supporting the key ideas and spirit of how to make the encryption ecosystem, and even the world, better: PPP (player pump player) has been adopted by dozens of communities globally as a battle cry to improve the encryption experience. CAT (certainty, alignment, transparency) focuses the entire industry on public construction instead of private construction. J4J (Jup for Jup) has become a battle cry, gathering community members together to contribute their time and talent in exchange for ownership of the protocol.

These five fundamentals - a talented and responsible team, strong financials, widely distributed governance tokens, a vibrant and thriving community, and the best ideas - put us in a unique position to build the world we want to see.

What is the next step?

We don't want to be another Decentralized Finance protocol, nor do we want to follow the conventional script on how encryption projects should develop. We are also not interested in various arguments about fat Wallets, fat protocols, fat layers, and traditional views on tokenomics.

Of course, we will read, study, absorb, and adapt, but fundamentally, we want to carve out our own path, find out what suits us at present, and do our best to achieve it.

We firmly believe that in the next few decades, Crypto Assets will support the world's advancement, including backend infrastructure, value creation, and all user-facing financial tools.

We hope Jupiter can become one of the key participants in building critical infrastructure, setting the concept and spirit of the field, and promoting the development of the Decentralization system.

To achieve this goal, we need the best team, the best platform, the best spirit, the best culture, and the best ideas; of course, we need the most powerful community to achieve these goals.

This is exactly where Jupuary shines.

The function of Jupuary: accelerate, Decentralization, unify

Looking back at the first Jupuary, we believed it was one of the best executed and widely spread Airdrops in the Crypto Assets field. It was crucial in igniting the hearts and minds of our community, and bringing together a large number of enthusiastic and talented individuals.

By implementing strategically, Jupuary has great potential to attract suitable talents into the ecosystem and accelerate community development.

If done well, Jupuary will play three key roles in the progress of Jupiverse: acceleration, Decentralization, and unity.

Jupuary Accelerates Community Formation

Traditionally, people think that the community is the marketing of the product. We are completely different, we think that the product is the marketing of the community.

We don't like the idea of giving away tokens for using the product. We believe people should use the product because it's useful, not because of tokens.

Jupuary's goal is to invite those who are already familiar with Jupiter to become active participants in the community and DAO.

We invite those who understand and value the Jupiter concept to join Jupuary, which greatly accelerates the formation of an active community that can see and understand our spirit and our efforts to build the ecosystem, partners and users.

Jupuary is a large-scale Decentralization event

Many major protocols will release information to internal personnel, often quietly through various channels. Jupuary aims to break this phenomenon and take a completely opposite approach.

We choose to release information to the community in the most open manner, even though it may cause more controversy, so that we can expand the community and unite the core members who support the spirit of Jupiter.

Jupuary is an event of a unified community.

It is usually extremely difficult for the entire community (especially such a large community like Jupiter) to understand and continuously develop the project under a common vision.

Jupuary will be an important milestone for community and wider ecosystem discussion, challenge, and alignment with the vision of Jupiter, deepening their understanding of what we care about.

This is why voting is necessary. Jupuary will bring a lot of follow to Jupiverse. It will bring energy from various fields of Solana. It will help Jupiverse gain more community members, more suggestions (catdets), and more goodwill.

But the premise is that we all agree on the best practice. This decision is very important for the future of Jupiter and cannot be made by a few people alone. Instead, we must find a way for the community to reach a consensus on how to expand the cake.

We are building Jupiter together. In this critical period, we must unite and work together.

Jupuary Voting Program

Jupuary's goal is simple: to establish a large-scale, united community by 2025 to collectively address the next phase of Jupiter.

This vote will have a special threshold, which is 70% approval. The threshold is high because we need to unite the community. We will iterate proposals repeatedly until we reach a consensus that we all agree on.

If we don't reach the threshold in the first vote, that's okay. We will take the feedback and work with the team to propose an updated proposal and continue to strive until 70% of the community members agree.

This vote is aimed at finding a way out. Therefore, it is crucial that you vote with your true decision: do not choose 'Yes' just because you want to show support, nor choose 'No' because of criticism on Twitter.

We are determined to find a result that truly satisfies the community, and this will take some time.

Outline of the first round of voting

For the first round of voting, we will start with a very simple question: Is the community willing to accept an additional 2 rounds of 7 billion JUP Jupuariy activities?

Based on the feedback from the past few weeks, we have also determined the top-level design goals of the first Jupuary:

Our goal is to make every key link feel inclusive, thereby making the entire process as inclusive as possible.

Our goal is to attract real people and active users who are likely to understand our ideas and participate in our growth journey. While quantity is definitely a consideration, it will not be the focus of this Jupuary.

There will be no lockups or vesting of any kind. We need to end each Jupuary with a highly consistent and unified community, and we cannot tolerate those who fundamentally do not want to be part of it.

We will also invest heavily in Sybil Attack detection, set higher minimum thresholds, and require human proof before claiming, etc.

In addition, we hope that there will be 2 more Jupuary events, because we believe that certainty for the community and team is very important in the coming years.

Jupuary is for "making a bigger cake" rather than "dividing the cake".

Some people believe that they cannot vote because they do not know the exact criteria for their vote. But I can't let voting become a pie-cutting activity, where people only vote for what they can get for themselves.

Jupuary is fundamentally a process of 'making a big cake', and voting must be based on basic principles. Each voter votes based on the overall direction, mutual trust, and trust in the team to achieve long-term collective interests. The exact allocation will ultimately be determined by the team.

What happens after the vote?

If the vote is passed, it means that the community is satisfied with the proposal and the Crypto Assets field will witness a major expansion event where the community gathers together for the first time. The team now needs the ability to plan and execute the next two Jupuaries in advance. This will greatly reduce the uncertainty faced by the community and allow Jupiter to execute its expansion plan.

If the proposal does not pass, we will listen to your feedback, iterate on the proposal, and initiate a new vote. I will spare no effort to strive for a result that satisfies the community. It may be tiring, but I truly believe this is a force for good.

If we cannot reach a clear protocol by the end of the year, the Token will be kept in the community Multi-signature Wallet, and we will propose a completely different plan.

Please remember, there is no right or wrong here, just vote for what you think is beneficial in the long run.

3 time Nodes

When proposing these suggestions and plans, I considered 3 time Nodes: Istanbul 2025, Checkpoint 2027, and EOTD (End Of The Day).

1. Castanburg 2025

Castanburg 2025 will be held at the end of January, which will be an important milestone for us. At that time, we will gather the most important members of Jupiverse to celebrate progress, discuss future plans, and, of course, the burning cat ceremony.

I am determined to build a bigger community by the end of 2025 in Castanburg, a community that is united, confident, and ready to face the new year together regardless of PA. This is the main reason why I have decided not to lock the JUP allocated in this Jupuary. However, the key risk is that we are forcing people to bet and vote, which is the worst outcome.

2 Checkpoint 2027

Over the past three years, we have built a very solid foundation, and I would like to ask the community to support us for another two years to lay the perfect foundation for realizing our vision for Jupiverse.

In the coming years, I will work tirelessly with the team to create the best platform, business, and distribution to achieve our vision of aggregating everything and bring our ideas and spirit to the forefront of world culture.

In addition, by then, both rounds of Jupuary (if approved) have ended, the current ASR has also been completed, and the core of the community has been successfully formed.

During this period, we will also be committed to fully unleashing the potential of JUP as a meme and platform Token. Of course, our goal is to make JUP widely known and trusted by millions of people by then.

This will be the best time for Jupiverse to assess our position and plan for the next stage.

Finally, we fully support this strategy, and we will do what we say. The founding team will not sell any JUP before this Checkpoint to ensure that we are fully committed to meeting any community requirements.

3 End Of The Day (Final)

Back to the original question: what kind of person do I ultimately want to become? What am I doing all this for?

Doing these things openly, constantly delaying one's own achievements, and then painfully constructing all the key parts one by one, and then sticking them together, is indeed a daunting task.

It took me a long, long time to figure out, but now I actually understand it very clearly, and I want to make it clear so that everyone knows exactly where I stand, and then they can make their own decisions.

It's simple, I hope we can be in the best position to create the world we want to see together. I am very dissatisfied with the current situation in the Crypto Assets industry.

We have always been talking about Crypto Assets being better, but are we really more transparent than banks, more responsible than governments, or friendlier to society than big monopolies?

We have been talking about acceleration, but what is the direction of our acceleration?

Accelerate towards a world where as long as you can make money, it doesn't matter what you do, whether it's playing PVP games or making insiders rich. This is not the world I want to accelerate towards.

But even if I don't agree, I am very pragmatic. In order to have a voice, Jupiter must become one of the key winners, Jupiverse must become a cultural force, and JUP must become a major Token in the Crypto Assets world.

To achieve this goal of JUP, we need to do the following: become a symbol of transparency, record every JUP Token issued from the beginning of genesis, gain the support of the most united community in the world, and become one of the most important platform Tokens.

Will we get there immediately? Of course not. Will the journey be straightforward? Of course not. Will it be foolproof? Of course not.

But will we work together? Of course we will. Will I work towards this goal with everyone? Of course I will. Do I want to someday ride a big yacht with all my JUP partners? Of course I do.

I will work hard to achieve this goal, and whether I succeed or not, I will strive to achieve it in public. Perhaps this is the journey I ultimately want.