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June 17, 2024

Jupiter Releases Proposal On Uplink Workgroup Budget, Plans To Allocate $552K And 2.15M JUP

In Brief

Crypto exchange aggregator Jupiter initiated new proposal vote for the Uplink Workgroup budget, which is scheduled to conclude on June 19th.

Jupiter Releases Proposal On Uplink Workgroup Budget, Plans To Allocate $552K And 2.15M JUP

Decentralized exchange (DEX) aggregator Jupiter (JUP), operating on the Solana blockchain, has initiated a new proposal vote for the Uplink Workgroup budget, which is scheduled to conclude on June 19th. Users are now invited to participate in the voting process to determine whether funding should be allocated to support the Uplink Workgroup’s efforts in enhancing public communication.

The Uplink Workgroup aims to amplify key messages from the team, decentralized autonomous organization (DAO), and its partners. This strategic objective entails adopting a community-first approach, involving collaboration with the community to condense major announcements into easily understandable content and disseminate it broadly.

The initiative aims to expedite community expansion, drawing users beyond social media platform X while also improving content contributions and community engagement and implementing several other enhancements.

The Uplink Workgroup has requested an operating budget of $552,000 to cover expenses over a 12-month period, alongside a JUP allocation of 2.15 million tokens vested over four years with a one-year cliff for long-term alignment. These funds will support a team of 6 members and provide microgrants to their group of content creators. 

During the first year, no JUP tokens will be distributed. Subsequently, tokens will be allocated on a linear basis over up to 4 years following the approval of the budget.

What Is Jupiter?

Jupiter offers various exchange services, including a Swaps tool, a Payments API for specifying output token amounts, Limit Orders, and Dollar-Cost Averaging (DCA) options. JUP functions as the native governance token of the exchange, enabling community members to participate in approving, sanctioning, and voting on all facets of the Jupiter platform. As of the current writing, the platform recorded a trading volume exceeding $655 million within the last 24 hours.

Recently, Jupiter announced plans for the upcoming release of new products, which will include Jupiter Swap V3, Dynamic Slippage feature, Token List V2, among other innovations.

Disclaimer

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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