★ Low-threshold multisig vs TVL
Jupiter's assessment for RD-F-028 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
JUP token vaults: 4-of-7 multisig with external ecosystem signers. For $1.717B TVL, peer norm is ~5-of-8. 4-of-7 is one below peer norm — yellow rather than red. Independent signers (Mert/Helius, Stepan/Squads, Nico/Neodyme) provide some external check. Program upgrade authority multisig threshold not confirmed. If program upgrade authority is 3-of-5 or lower, this would escalate.
Sources #
- GovernanceJUP Minting and Accountability | Jupiter Research ForumJUP minting and accountability — 4-of-7 structure and signer identitiesretrieved 2026-04-29
- Deep Dive into Jupiter | CoinMarketCapJupiter tokenomics 4-of-7 multisig across all vaultsretrieved 2026-04-29
Methodology #
Determine whether the multisig threshold is abnormally low relative to TVL peer cohort (e.g., 2-of-3 for a protocol with >$100M TVL where peer norm is 5-of-8).
See the full factor methodology and distribution across all protocols →