Jupiter, Solana’s leading decentralized exchange aggregator, will hold a new AirDrop event. This event, called “Jupuary,” will distribute a total of 700 million tokens. The tokens to be distributed will have a value of $580 million. Participants will be rewarded based on criteria such as trading volume and staking. Last year, Jupiter conducted a major AirDrop by distributing 1 billion tokens to its community, and this year it aims to reduce the total supply to 7 billion.$JUP
Jupiter has yet to fully flesh out the criteria for the event, but there has been ongoing discussion among the community about who will be eligible to participate in AirDrop. The current plan is for the rewards to be divided into two main groups: “users and stakers,” and community supporters called “Carrots and Good Cats.” This structure aims to incentivize new and existing users and grow the Jupiter community.
The draft criteria for AirDrop will be based on trading volume over the past year. For example, users with at least $800 in annual trading volume will receive 50 tokens. Users with $29,000 in trading volume will receive 250 tokens. This draft provides a foundation for further distribution. Prior to the snapshot in November last year, around 1 billion JUP tokens had been distributed to those with $1,000 in trading volume.
Jupiter, which currently has 1.35 billion tokens in circulation, plans to reduce the supply from 10 billion to 7 billion. Over 3 billion tokens will be burned for this change. This plan was approved by the community in August 2024.
Jupiter was launched in 2021 under the name “Meow.” The platform aims to provide its users with the best trading prices by aggregating liquidity from different decentralized exchanges on Solana. In addition, the platform also provides a periodic trading product. Jupiter has traded more than $2.3 billion in the last 24 hours.