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The Jupiter community is currently voting to decide whether to burn the previously repurchased 130 million JUP tokens.
BlockBeats News, October 31st, Jupiter's official announcement on social media stated that after a team downsizing and community reset of the decentralized autonomous organization (DAO), the "Litterbox Burn Vote" marks the next major step of a fresh start — refocusing on positioning JUP as the core of the ecosystem and rebuilding long-term confidence and consensus.
Currently, 50% of Jupiter's on-chain revenue goes into the "Litterbox Trust Fund," which buys back JUP from the open market. So far, approximately 130 million JUP has been accumulated, accounting for about 4% of the circulating supply. These tokens were initially intended for the DAO's use in 3 years. However, recently, holders have made it clear that these JUP tokens are creating uncertainty for the community and token holders. The team has heard the voices. Today, the DAO will begin voting on whether to burn these existing tokens (remaining 4 days 13 hours deadline). In the upcoming weeks, another separate vote will be held to decide how to handle the ongoing inflow of income into the "Litterbox."
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