Jupiter, the largest decentralized exchange aggregator on the Solana blockchain, plans to expand its token distribution with an airdrop event called “Jupuary” in January. The project will distribute 700 million JUP tokens, currently valued at approximately $580 million, to users, stakeholders, and contributors.
Who Will Receive the Tokens? Eligibility Criteria Under Discussion
The Jupiter team is finalizing the criteria for the airdrop, and community discussions are ongoing to define the exact guidelines. The proposed framework takes into account the trading volume of individual users across the platform over the past year.
According to the proposal:
Users with an annual trading volume of at least $800 would receive a minimum of 50 tokens.Users with a trading volume of $29,000 could receive up to 250 tokens.
A total of 2.3 million wallets are eligible for this distribution.
Two Main Distribution Groups
The token distribution is divided into two primary groups:
Users and Stakers – targeting active platform users.Community Supporters, known as “Carrot and Good Cats” – members who have made significant contributions to the community.
This strategy aims to reward existing users, attract new ones, and strengthen the growth of the Jupiter DAO ecosystem.
History and Future of the JUP Token
In 2023, Jupiter distributed nearly 1 billion JUP tokens to users who met the requirement of a minimum trading volume of $1,000 before the November 2023 snapshot.
Currently, the circulating supply of JUP tokens is 1.35 billion, with an initial maximum supply of 10 billion tokens. However, the project plans to reduce the maximum supply to 7 billion tokens, including burning over 3 billion tokens, a move approved by the community in August 2024. This adjustment aims to maintain the value of JUP tokens.
Jupiter’s Role in the Market
Launched in October 2021 under the pseudonym “Meow”, Jupiter aggregates liquidity from various decentralized exchanges (DEX) on the Solana blockchain. The platform enables users to find the most favorable rates for token swaps and also offers a perpetual trading product.
In the past 24 hours, the platform has recorded over $2.3 billion in trading volume, highlighting its pivotal role in the DeFi ecosystem.
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