- Jupiter DAO members are unhappy with the project teams JUP token holding
- The members claim that the teams large JUP holding can be used to influence a DAO vote
- They observed that the projects core team is undermining the DAOs decision-making process by hindering decentralization
Jupiter DAO members have raised concerns about the amount of JUP, Jupiter Exchanges official token, held by the projects core team. They claim that the team is using their holdings to dishonestly sway the DAOs decisions in their favor, arguing that their actions are contrary to decentralization principles. The DAO members, however, clarified that they arent against the team holding the coins, but their use to influence decisions, signaling that the team has been creating proposals and passing them against the communitys will.
Team Using JUP Tokens Irresponsibly
The members raised their concerns in a governance forum with one pseudonymous member, thisisfun , noting that the protocols team members are the vote creators. According to thisisfun, the team influenced the last vote about JUP and JUICE token allocations. The pseudonymous member noted that the vote passed despite most members voting against the proposal, an indication that Jupiters core team is using its JUP tokens irresponsibly.
Disgruntled DAO members said its wrong for the core team to argue that they should be allowed to vote because theyre part of the Jupiter community, too. The members noted that the teams argument is dismissive and tone-deaf to the real issue, adding that Jupiter DAO is not a DAO if votes can be manipulated.
To Vote or Sell?
Some Jupiter DAO members, however, observed that its fair for the team members to vote if they bought their tokens from the open market, while others said that the team may choose to sell their tokens if they arent allowed to vote.
This isnt the first backlash to befall Jupiters core team. In March, for example, the community lamented the passing of a vote seeking to allocate more funds to Jupiter founders. In February, the exchange was also criticized for failing to prevent the hacking of its X account, an incident that reportedly caused investors to lose funds to scammers.
With Jupiter members unhappy with how the core team uses its JUP allocation, its to be seen whether the team will consider reducing its voting power to promote decentralization.
