Jupiter Launching Solana Meme Coin With An Airdrop Even Bigger Than JUP
Solana's DeFi aggregator, Jupiter, is set to distribute its JUP tokens to nearly a million eligible wallets on January 31. Before the JUP token drop, Jupiter will conduct a test on its launchpad by airdropping a meme coin from the Ovols protocol, a "DeFi meets NFTs" project on Solana. The meme coin airdrop is expected to be larger than the JUP drop, providing a fun but technically challenging test for Jupiter's launchpad.
Ovols will contribute 1% of its meme coin supply to Jupiter, with 75% allocated to the JUP DAO and 25% to Jupiter's team. Although the date for the Ovols meme coin airdrop hasn't been disclosed, Jupiter plans to initiate additional projects on its launchpad starting in February, following the JUP airdrop at the end of January.
Meme coins have gained popularity on Solana, known for their volatility and sudden value fluctuations. Notably, BONK, a meme coin airdropped in December 2022, experienced a substantial increase in value, reaching over $500,000 a year later. However, it's important to note the inherent volatility of meme coins, as illustrated by the 69% decrease in BONK's price over the past month since its peak on December 15.
Another Solana meme coin, Dogwifhat (WIF), has recently surged but is currently down 47% after setting a new all-time high less than a week ago. Despite their instability, meme coins generate short-term excitement through airdrops, injecting significant value into crypto communities. Jupiter has two such airdrops scheduled in the coming days, adding anticipation to the Solana DeFi scene. Stay tuned for updates on the Ovols meme coin airdrop and Jupiter's future projects on its launchpad.
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