TechFlow reports that Jupiter has passed a proposal titled "Supply Reduction Proposal," planning to reduce its token supply by 30%.
According to the proposal, the team will voluntarily cut their allocation by 30%, and the Jupuary airdrop distribution will also be reduced by 30%. The remaining reduction will come from liquidity providers (LP) and strategic reserves. After this reduction, the total supply of Jupiter's token (JUP) will decrease from 10 billion to 7 billion, while the community allocation portion remains unchanged.
Previous report, Jupiter co-founder Meow stated that if the proposal passes, the token burning process could take up to six months to complete.
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