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July 05, 2024

Jupiter’s Active Staking Rewards Now Available For Inquiry, Token Claiming Starts Tomorrow

In Brief

Jupiter opened the Active Staking Rewards inquiries feature, the token claiming period will start at 1 PM UTC on July 6th.

Jupiter’s Active Staking Rewards Now Available For Inquiry, Token Claiming Starts Tomorrow

Decentralized exchange (DEX) aggregator Jupiter (JUP) announced that it has opened the Active Staking Rewards (ASR) inquiries feature, allowing users to view their reward allocations in advance of the claiming period, which will commence at 1 PM UTC on July 6th.

Users are encouraged to claim their ASR rewards, while their JUP tokens will be automatically staked and other tokens sent to their wallet. The rewards are allocated based on the number of tokens a user voted with, without any minimum or maximum limits. These rewards are also distributed staked directly to voters. They are incentivizing users equally across nine proposals. Users who participated in voting more frequently or with a larger quantity of JUP will receive greater rewards.

Active Staking Rewards are utilized to incentivize community members who actively stake tokens and participate in proposals. The ASR Pool comprises a 0.75% fee from LFG Launchpad transactions and 100 million JUP tokens sourced from JUP’s utilization of the LFG Launchpad. The distribution of the 100 million JUP tokens occurs over two quarters, with the first batch allocated for the current ASR claim. Additionally, tokens such as WEN, ZEUS, SHARK, and UPT are included in this period’s distribution, totaling 50 million JUP.

This token distribution marks the conclusion of the initial ASR period, with the remaining 50 million JUP tokens earmarked for subsequent distributions scheduled for October.

Jupiter Plans To Renew Funding For ASR In August 

Jupiter offers a range of exchange services, encompassing a Swaps tool, a Payments API for specifying output token amounts, Limit Orders, and Dollar-Cost Averaging (DCA) options. JUP serves as its native governance token, empowering community members to take part in approving, sanctioning, and voting on all aspects of Jupiter’s operations.

Looking ahead, in August, Jupiter plans to initiate a vote to renew funding for ASR over an extended period following the distribution of the 100 million JUP tokens. After this, DeBridge will debut its DBR token on the LFG Launchpad.

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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