BNardo

Investor | Technologist | Cyclist

[Solana @solana]

If you have used Solana, like this post

if you enjoy using Solana, RT this post

(collecting data for analysis) 🔥

[BNardo @BernardMid]

@JUPANDJUICE Did I miss out? BBkFaFHFgwYjoPSKJsBxf46oAgBryJxE9XvfS4iRW2z3

[BNardo @BernardMid]

@okaydawgs @dak_daze Dope! 🐶

[BNardo @BernardMid]

@spencer @okayxyz 👌

[BNardo @BernardMid]

@shrineofbones GM

[BNardo @BernardMid]

@dschoasch @tweetyplz @okayxyz @okaybears Awesome!

[BNardo @BernardMid]

@dak_daze @okayxyz GM. The merch is 🔥

[BNardo @BernardMid]

@KingstonJ23 @kira0s @okayxyz @okaybears GM!

[BNardo @BernardMid]

@NiftyZephon GM

[BNardo @BernardMid]

I #StandWithCrypto. Join me and more than 900,000 others advocating for better crypto policy in America! https://t.co/Y4L7fA7RcB

[Stand With Crypto🛡️ @standwithcrypto]

Join Stand With Crypto 🛡️ at: https://t.co/jAD0QwmTpO

[BNardo @BernardMid]

gm. #okay

https://t.co/YagpXONoNT

[BNardo @BernardMid]

@pulsr_ai @okaybears @okay_dogs @okayxyz @solana WAGBO

[Jupiter @JupiterExchange]

Vote on CWG’s Budget Proposal

The vote to fund the first Jupiter Working Group is live! This vote is crucial in setting a precedent to fund working groups to drive the DAO’s initiatives forward.

The CWG has spent a week in community discussions, and has presented their 2024 budget proposal to the DAO.

JUP stakers can now vote on funding the CWG, who plays a key role in building out DAO processes and facilitating the community’s role in LFG selection, token-list, grants program, and other community-led initiatives..

Cast your vote here:
https://t.co/VdhZAmfWQz

This week, we had crucial discussions across Discord, Jupiter’s Research Forum, the planetary call, and the community townhall where Meow interviewed each CWG member and took questions from the chat.

These discussions culminated in a final proposal that the CWG presented.

Outline of Proposal Details: https://t.co/xMKmiDXkS9
CWG Clip at the Planetary Call: https://t.co/snItea73Xe
Meow interviews the CWG: https://t.co/KWb6irXnlc

As a reminder, participating in votes gives you rewards, no matter the outcome or the option you choose.

Go out there and vote, catdets! Make your voice heard!

[BNardo @BernardMid]

@Hedbens Gm Bro!

[BNardo @BernardMid]

@OKAY_SOLANA @okaybears Respect

[BNardo @BernardMid]

@ShaggyRuggs @okaybears @okay_dogs No doubt!

[meow @weremeow]

J.U.P: DAO, ASR, J4J

Over 180K wallets voted over the first 2 JUP DAO votes, most ever in crypto to our knowledge. With tremendous interest in the DAO & the pioneering ASR idea, it's time to share some key thoughts.

Aspirations
We want the Jupiter DAO to become the best DAO in crypto - meaning we have the most proactive and dynamic voter base, strongest ability to execute on stated plans, and importantly, able to coordinate to drive important long term directions like bringing millions more into Jupiter and into the meta.

Just like how our journey to build the best product in crypto took many years, building the best DAO will be a multi-year journey as well, and one that we are super excited to embark on with everyone.

In fact, it is arguably going to be even more challenging than the build up of the Jupiter products, since building a DAO and the other structures (see J.U.P Planet) is one that needs up to hundreds of thousands of people to come together and operate in sync.

Unique Amongst All DAOs
Jupiter DAO is starting with a unique set of foundational qualities unseen in any other DAO.

- No insider voting blocs
- Significant value and high liquidity
- Highly distributed, retail heavy token holder base
- Most used decentralized trading platform in crypto (means lots ot attention can be given to votes)
- Massive effort is given to the voting process via WGs
- Dynamic, forward-looking voter base who wants to expand, not shrink

This foundation allows the DAO to take on a dramatically different scope compared to all the other DAOs.

Expansive Mandate
Given the role that Jupiter plays in the ecosystem, the overall growth of the decentralized ecosystem will naturally be of tremendous assistance to Jupiter as well. Therefore, the mandate of the DAO is not narrowly limited to Jupiter, but rather broadly focused on growing the ecosystem as well via Jupiter community and platform.

Even in the first year, starting with LFG - we will see the DAO participate in a number of voting activities that will be broadly beneficial to the ecosystem, and with the advent of grants, we would like to see more ways for the ecosystem to find ideas that are leverage Jupiter to push the meta forward.

Strong Operational Funding
The DAO will be well capitalized with at least $8M in USDC and 100M in JUP for the first 2 years of funding for the purposes of workgroup budgets and grants. The USDC will serve as an operational budget while the JUP serves as incentives and long term alignment.

This budget allows J.U.P to attract networks of the very best community talent who can execute on initiatives and ideas that grow the value of Jupiter far more than any single organization can.

The team will look into different mechanisms, including DLMM fees from the launchpad to make sure the DAO is funded sustainably over time.

JUP FOR JUP
Starting with the JUP launchpad fees from the JUP launch, we want to get JUP into the hands of those who are the most actively involved and participate actively in the Jupiter ecosystem as voters.

As a result, we developed a mechanism called ASR (Active Staking Rewards), which does not reward passive staking, but rather stakers have to actively participate, and most importantly, engage.

If the first 6 months are successful, we will replenish the ASR rewards every 6 months on an ongoing basis as part of the JUP FOR JUP - getting JUP into the hands of those actively engaged, especially in this early part of the Jupiter.

Jupiter is a decades long endeavor - and having the early stakeholders are soooooo important as foundation.

Part of J.U.P

End of the day, the DAO is but one part, albeit a crucial part of a well-functioning community ecosystem. If the JUP DAO becomes the best DAO, it is because it lives within the best community of catdets, users, work groups.

Therefore, it is crucial that the DAO never resorts to short termed narrow thinking mindsets.

Instead, we will actively grow the J.U.P community, stock it with the absolute best talent we can find, and courageously bring millions more into the Jupiter family, and into the meta.

Besides, what else are we here for? ;)

🩷
Meow

[Jupiter @JupiterExchange]

The J.U.P Planetary Call #4 https://t.co/PZKaGhJPv9

[BNardo @BernardMid]

@ShaggyRuggs Hey 👋🏽