3 billion JUP was burned from the team's initial vesting schedule in January 2025 reducing the max supply from 10 billion to 7 billion.
Additional ~135M JUP burned in 2025 (Litterbox burn ~134.55M and verification burns ~664k) further reduced max supply to ~6.865B JUP. These circulating-token burns are not modeled as events, so adapter circulating and total supply each over-count real values by ~135M.
The 'Jupiter Goes Green' DAO proposal (Net-Zero Emissions) passed in early 2026, taking JUP net emissions to effectively zero: Team and Mercurial Stakeholders vesting concluded early (Team's last unlock was 2026-01-27; Mercurial received a final accelerated unlock of 77,968,558.70 JUP on 2026-02-25 in lieu of remaining monthly unlocks), and all Jupuary allocations (1B reserve + 200M Jupuary 2026 + 200M Jupuary 2027) are cancelled.
Cancelled allocations preserved as TBD sections (tokens remain in protocol custody with no scheduled unlock): Team (~427.78M), Mercurial Stakeholders (~82.45M), and Jupuary (1.4B).
Community Reserves (300M) and Strategic Reserve (1,332.7M) have no defined unlock schedule and are marked as TBD.
Active Staking Rewards (ASR) paid 50M JUP per quarter to stakers from Q2 2024 through Q2 2026 (450M total). 50M came from LFG launchpad fees and 400M from Jupuary tokens that were never claimed. ASR creates no new emissions: the 400M is deducted from the Jupuary 2024 allocation rather than added on top, so the same tokens are counted once. Jupiter reports the unclaimed balance as circulating from the airdrop date, but those tokens sat in the claim contract and never reached a holder until ASR distributed them, so this adapter dates them at distribution. Jupiter has not confirmed how the 400M splits between the 2024 and 2025 Jupuary tranches; it is all deducted from 2024, the only pool that existed on every ASR date.
ASR is treated as an emission under the staking category rather than as incentive spend, because it is paid exclusively to JUP stakers. The Jupuary airdrops are not counted as incentive spend either.