Coinspeaker Jupiter Announces $580 Million Airdrop to Boost Ecosystem Engagement

Jupiter, a prominent decentralized exchange (DEX) aggregator built on Solana is set to kick off the new year with a substantial giveaway to expand its ecosystem while strengthening its presence within the crypto economy.

According to an announcement on Friday, the upcoming airdrop dubbed “Jupuary”, will see the distribution of 700 million JUP JUP $0.85 24h volatility: 0.9% Market cap: $1.15 B Vol. 24h: $103.19 M , valued at approximately $580 million to users, stakers, and contributors based on activity captured in a recently completed blockchain snapshot.

Targeting Growth through Community Rewards

While specific eligibility requirements are still under discussion, the event is scheduled to take place in January 2025.

The move comes a year after Jupiter conducted its first airdrop in 2023. At the time, the DEX distributed approximately 1 billion JUP to wallet addresses which had executed a minimum of $1,000 in swap volume on the platform.

However, with the upcoming “Jupuary” airdrop, the platform plans to share the 700 million JUP among two primary groups: active users and stakers, and key community supporters known as “Carrots and Good Cats”. Jupiter claimed that this strategy is part of its efforts to appreciate users for their continuous support.

Jupuary 2025 🪐

Here is the first Overview of the upcoming Jupuary distribution.

Team decided to go with a split between Users & Stakers and Carrots & Good Cats.

This way we are trying to appreciate everyone in the Jupiverse!

Note: This is a Draft, Subject to change 💡 pic.twitter.com/mbGNy3QxSe

— Jupiter Uplink (@jup_uplink) December 26, 2024

According to a draft guideline on the airdrop distribution, the amount of airdrop allocations for users and stakers will depend on their activities across Jupiter’s suite of products over the past year. For instance, wallets with an annual trading volume of $800 may receive 50 JUP tokens, while those with $29,000 in activity could earn 250 tokens.

Based on the already taken snapshot, more than 2.3 million wallets are potentially eligible for the airdrop.

Reducing Supply for Long-Term Stability

Apart from the planned airdrop distribution, Jupiter has also taken steps to refine its tokenomics. Earlier this year, the community approved a plan to cut the token’s maximum supply from 10 billion to 7 billion. This adjustment involves burning more than 3 billion tokens, a move intended to enhance the token’s value and strengthen its economic model.

As of now, the circulating supply of JUP stands at 1.35 billion tokens, with a fully diluted valuation hovering around $8.2 billion. This deliberate approach to supply management underscores Jupiter’s commitment to sustainable growth.

Since its launch in October 2021 by the pseudonymous creator Meow, Jupiter has become a cornerstone of Solana’s decentralized finance (DeFi) ecosystem. By aggregating liquidity from various DEXs, the platform ensures users receive the best rates for token swaps. Jupiter has also expanded into perpetual trading, catering to advanced traders and diversifying its offerings.

In the last 24 hours alone, the platform facilitated trades worth over $2.3 billion, solidifying its position as a top performer in the DeFi space.

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Jupiter Announces $580 Million Airdrop to Boost Ecosystem Engagement