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Jupiter will distribute US$580 million in JUP tokens in airdrop
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THE Jupiterthe largest aggregator of decentralized exchanges (DEX) on the Solana blockchain, has revealed plans for a token distribution event in Januarycalled “Jupuary”.
During the airdrop, the platform will distribute 700 million JUP tokensvalued at around US$580 millionfor users, stakers and contributors.
Although the Jupiter team has already accomplished the snapshot of users eligible to receive the tokens, the specific criteria of distribution are still being defined. The Jupiter community is also involved in discussions about eligibility guidelines.
The current distribution model divides recipients into two main groups: “users and stakers” and prominent community supporters known as “Carrots and Good Cats”. According to Jupiter DAO, the objective of the strategy is encourage new and old participantsstrengthening the JUP community.
A preliminary proposal suggests that accumulated trading volume in Jupiter products over the last year will be considered. For example, users with a minimum annual volume of $800 could receive at least 50 tokens. Meanwhile, those with volumes greater than $29,000 would receive 250 tokens. Currently, around 2.3 million wallets are eligible for the airdrop.
Last year, Jupiter had already distributed almost 1 billion JUP tokens for users who have completed at least $1,000 in swaps on the platform ahead of a snapshot in November 2023.
The current supply of JUP in circulation is 1.35 billion tokenswith a previous maximum limit of 10 billion tokens. However, in August 2024, the community approved a reduction of this limit to 7 billion tokenswhich includes burning more than 3 billion tokens.
Since its launch in October 2021, Jupiter, founded by the pseudonymous “Meow”acts as a liquidity aggregator between multiple DEXs on Solana, guaranteeing users competitive rates for token swaps. Furthermore, the platform offers a product for trading perpetual contracts.
Recently, as reported by Todaysgist, Jupiter launched the JupiterZone swap solution which promises to transform traders’ experience, bringing innovations such as gasless swaps and 0% slippage.
In the last 24 hours, the Jupiter recorded a trading volume of more than US$2.3 billionreinforcing its position as a leader in the Solana ecosystem. Meanwhile, the JUP token price rose about 1.0% in the last 24 hours. According to data from CoinGecko, the cryptocurrency is costing US$0.85 at the time of writing.
Jupiter will distribute US$580 million in JUP tokens in airdrop
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Jupiter will distribute US$580 million in JUP tokens in airdrop
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Jupiter will distribute US$580 million in JUP tokens in airdrop
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Jupiter will distribute US$580 million in JUP tokens in airdrop
