TL;DR
- Today, the highly anticipated JUP token airdrop by Jupiter will take place. It will be the first in a series.
- Approximately 955 thousand wallets meet the eligibility criteria to receive rewards.
- 10 billion tokens will be issued.
The end of “JUPuary” is just around the corner, marking the eagerly awaited launch of Jupiter’s JUP token airdrop on the Solana network. The decentralized exchange (DEX) has been preparing for this moment for months, and the airdrop is expected to be one of the most significant in 2024, reaching nearly one million wallets on the Solana network.
The distribution of the JUP airdrop is scheduled for Wednesday, January 31, and the crypto community is eager to participate in this massive event. Jupiter facilitated user preparation by launching an airdrop checker tool and providing guidance throughout the past year. Eligibility for the event extends to approximately 955,000 wallets, including those early users who interacted with the protocol before the snapshot taken on November 2.
IT'S TIME FOR JUP!
JUP launch site is up. You can check your airdrop allocation, set up your DCA/Limit orders ahead of time, and see the slot countdown.
Link: https://t.co/micHY6ChQn
Launch Time: 31 Jupuary 10am EST
Initial Circulating: 1.35B
Launch Pool Params:
Initial:… pic.twitter.com/PAC8jSBbSD— meow 🥧 (@weremeow) January 30, 2024
The airdrop claiming process will begin at 10 a.m. ET on January 31 through Jupiter’s own launchpad, which was previously used to launch the WEN token on Solana. The expectation is that this airdrop will be the largest so far this year, and its announcement has generated significant interest in the blockchain world.
State Of Jupiter: Jupuary 2024
1. Most used trading platform in defi
2. Direct 80% of organic volume
3. Most used program in Solana
4. Top 2 by vol on Coingecko
5. Most integrated platform on Solana
6. One of the top perp platforms ($1.4B volume last week)Deets:… pic.twitter.com/UEnwgyc2eu
— Jupiter 🪐 (@JupiterExchange) January 30, 2024
10 Billion JUP Tokens to Be Issued, Unclaimed Ones to Be Burned, and a Portion Reserved for Liquidity
The distribution of JUP tokens will be done fairly among wallets, with 20% of the initial airdrop evenly distributed. The remaining 70% will be allocated through a score-based distribution, depending on protocol usage. The final 10% will go to community members and developers.
Regarding the total token supply, a total of 10 billion tokens is planned to be issued. Half of these tokens will be distributed to the community through various airdrops and other initiatives. The Jupiter team will receive the other half for team needs and tokens, including a reserve for project liquidity.
It is important to note that the Jupiter team will not receive tokens until January 2025 when a two-year vesting cycle begins. Additionally, it was announced that hundreds of thousands of unclaimed airdrop tokens will be burned, reducing the total supply of JUP and potentially impacting its market value.
We now await the passing hours for nearly a million users to claim their rewards. In the coming time, we will see the overall impact on both the Jupiter community and its price.
