Jupiter Founder Announces Reddit Working Group Budget Returned to DAO

IconCryptoNewsTerminal Staff22 Aug, 2024

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Jupiter Founder Announces Reddit Working Group Budget Returned to DAO

Jupiter Founder Addresses Reddit Working Group (RWG) Inactivity Solana-based decentralized cryptocurrency swap aggregator Jupiter (JUP) co-founder "meow" recently discussed the lack of activity within the Reddit Working Group (RWG). The RWG, which consists of Reddit community builders, receives a quarterly budget of $68,000 (or $272,000 annually). However, due to the group's inactivity, the remaining $45,000 of their budget has been returned to the Decentralized Autonomous Organization (DAO). "The RWG is currently inactive. The remaining $45,000 of their budget was returned to the DAO," meow stated. RWG Experimentation and Future Outlook Meow noted that the RWG experimented with various initiatives but ultimately concluded that Reddit engagement should be a collaborative effort rather than a solely centralized operation. Currently, the Jupiter subreddit has six active members, including moderators, with an average of one comment per day. This highlights the need for a more robust and engaged community within the subreddit.

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