Jupiter, a decentralized exchange (DEX) built on the Solana blockchain, will revise its proposed airdrop plan after a governance vote failed to secure the necessary support.
The proposal aimed to distribute up to $1.6 billion worth of JUP tokens across two separate airdrops scheduled for future dates. However, the plan did not achieve the required 70% supermajority, garnering only 58% approval from voters.
The governance proposal, initiated by Jupiter co-founder Meow, attracted significant interest, with over 364 million JUP tokens participating in the vote. Despite the high level of engagement, 42% of voters expressed opposition, indicating a lack of consensus on the airdrop's scale and structure.