3 major @JupiterExchange updates:
1. $135 million JUP burned from Litterbox
2. Unstaking period for JUP reduced from 30 days to 7 days
3. 10K staked JUP now required to access Metis Binary
My unfiltered thoughts:
1. We've seen from other protocols that buybacks don't work. I think these litterbox tokens would have never been released, but this burn confirms it.
2. Unstaking has been a significant barrier to locking up JUP. New investors are reluctant to commit to a 30-day cooldown, so this change is huge, in my opinion. Additionally, during the next JUPuary, they are offering 200M to those who stake their allocation. This move discourages dumping the airdrop and further incentivizes staking.
3. I believe this change will lock up more JUP and offer greater control over Jupiter's public good. Access will likely need to be requested, preventing bad actors from misrepresenting Jupiter prices and protecting Jupiter from misuse.
TL;DR: This is a step in the right direction. The change in unstaking is probably the most significant for investors. As seen with other projects, a protocol's token price doesn't always reflect company performance or revenue.
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