Jupuary 2025: What Could the Next Jupiter Airdrop Look Like?

Jupiter’s initial token airdrop, Jupuary, was arguably the biggest liquidity event in Solana history. The $JUP TGE (Token Generation Event) distributed 1B $JUP tokens among platform users, kickstarting the largest DAO in the industry.

Jupuary Round 2 is expected to airdrop 700M $JUP tokens to the Jupiter community. But before Jupiter users can start counting their lucky stars, the DAO is expected to vote on whether Jupuary 2025 should even happen.

What are the chances of Jupuary Round 2 being cancelled and what might eligibility criteria look like?

Will We See Another Jupuary?

In a recent appearance on the JUP & JUICE podcast, Jupiter team member Soju shared that the next Jupiter DAO vote would concern Jupuary 2025. 

While Soju didn’t reveal any specifics surrounding the details of the proposal, community members have speculated that it could outline potential eligibility criteria for the second airdrop event.

Additionally, some community members have argued in favor of canceling Jupuary entirely. 

Concerned $JUP supporters have suggested that a second Jupuary event caters to “airdrop farmers and casual participants”, diluting $JUP supply and potentially diminishing its market value.

Despite these arguments, Jupiter DAO is unlikely to cancel Jupuary entirely. The Jupiter community has already voted heavily in favor of continuing ASR (Active Staking Rewards) instead of burning unclaimed $JUP tokens from the first Jupuary. 

This crucial decision suggests that DAO members would prefer to receive ongoing rewards rather than burn tokens and diminish $JUP supply.

Potential Jupuary 2025 Eligibility Criteria

Despite the Jupiter team’s best efforts to promote organic usage, the reality is that airdrop farmers still consider Jupuary one of the biggest events of the year. 

Speaking with JUP & JUICE, Soju credited Jupiter DAO’s creativity, stating “there are a lot of wonderful proposals about Jupuary on JupResearch”. While the Jupiter team ultimately calls the shots, JupResearch proposals could be used to inspire certain eligibility criteria.

The most popular proposals on JupResearch, a Jupiter DAO forum, typically allocate various amounts of tokens to Jupiter products. 

One proposal by JUPWhale suggests splitting the 700M scheduled for distribution based on trading volume, $JUP staking, $JLP holdership, DCA/Limit Order use, and perpetual trading volume.

Jupuary Proposals Likely to Favor $JUP Stakers

If any aspects of Jupuary eligibility criteria are to be voted on by Jupiter DAO, it is likely that results will heavily favor $JUP stakers. 

As noted by JUPWhale on JupResearch, proposals on eligibility criteria present a conflict of interest wherein $JUP stakers will vote for whatever gives them the best allocation, regardless of whether or not that benefits the protocol.

According to Flipside data, 12.95% of Jupiter voting power is held in 50 wallets, representing only 0.008% of the total number of stakers. This suggests that a relatively small group of holders wield considerable influence over an ecosystem with hundreds of thousands of users.

However, one could argue that this exemplifies the unique value of decentralized governance. Players with higher amounts of skin in the game have greater control and influence over the result, highlighting one of the fundamental ideological values of the blockchain industry as a whole.

According to Soju, the critical Jupuary vote is expected to go live in the next 1-2 weeks. Jupiter co-founder Meow is expected to share some preliminary thoughts on the landmark event in an upcoming JUP Rally call on Friday, November 6.

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[https://www.youtube.com/watch?v=9oVmNPjuhQo]