The Proposal [draft] for the J4J #2 of @JupiterExchange is live and this is what you need to know 🧵
Recap
Each J4J Vote is empowering the community to make key decisions over token decisions such as ASR.
The J4J #1 vote on supply reduction, held a month ago, was accepted with 95% approval. The main goal was to cut the fat of the FDV by burning tokens over six months.
J4J #2
This vote is about the usage of the unclaimed JUP tokens from Jupuary 24.
There are three options:
► Use the tokens to fund ASR for the next 1 year
► Burn the 215M tokens
► Return the tokens to the community multisig
Breakpoint has always been a goldmine for alpha and early insights
Nosana did a 400x after their presentation last year
I reviewed the entire speakers panel, and these are the projects that could take off after a bullish announcement 🧵
Wormhole - $W
Wormhole's Token lost 85% in value since its TGE in April earlier this year.
The founders of Wormhole @danreecer_ and @RobinsonBurkey will hold a product keynote and teasing massive platform updates.
Possible Updates:
► Wormhole Sigma (App Chain)
► Staking Updates (Solana ?)
► Roadmap & Era Updates
Jupiter - $JUP
@JupiterExchange will host various community events during Breakpoint.
The highlight will likely be the Keynote Speech by Co-Founder @sssionggg on Sep. 20 from 11:55 AM to 12:10 PM (UTC+8).
Last year, they announced their Airdrop. This year, expect another major reveal, potentially the Jupiter Mobile App or other significant product updates.
Possible Updates:
► Jupiter Mobile App
► Big Product Updates
At this point, no one understands how the Magic Eden Airdrop will work. I will try to clarify some things 🧵
So, last February, ME open-sourced their protocols as the Non-Fungible DAO and then announced the release of the $NFT token which will give holders governance over the said protocols.
This was probably to avoid regulatory issues with the SEC.
All tweets from @Non_FungibleDAO have been deleted, likely due to a shift in plans towards @MeFndn.
The token has changed from $NFT to $ME.
ℹ️ Magic Eden Foundation was registered in Dec. 2023 in the Cayman Islands
Millions of new users and exponential growth of DeFi are predicted
But what if I tell you that there is a small catch...
An educational thread about validators and why it matters where you stake your SOL 🧵
I don't want to gatekeep you, so here's the catch:
It looks like that Binance won't distribute SOL to different validators (expected)
Instead, they will allocate everything to their own validator (running already a validator in the top 10), which could quickly make them the top validator (currently #1 Helius with 13M staked SOL).
But why does this matter?
First, we need to understand how Solana works...
Solana achieves high scalability and speed through its unique network structure
But who manages the chaotic mess of transactions? The Solana Validators do
There are over thousand nodes, or validators, that make the Solana Blockchain work