The "JUP" token of the Solana dex has been launched today, to much expectation from many users, hoping to claim the long-awaited airdrop. Not only that, but there were other users who welcomed this launch and ventured to buy minutes after the launch. This was an event that the Solana community was waiting for, since something like this had not been seen in a long time. But what happened during the launch and what will I do with the airdrop? Let's explore.
A few hours after the official launch of the JUP token, Binance was one of the last exchanges to announce the listing of the token on its platform, which until yesterday was not known if they would do so. The token was available for trading on Binance 20 minutes after the official launch on the DEX #jupiter .
The Jupiter DEX's native #token was launched with an initial price of $0.4 in line with a price curve reaching up to $0.7, announced by the project's founder under the pseudonym "Meow". It was initially launched with a circulation of 1.35 Billion JUP tokens, which represented 13.5% of the total supply of 10 billion.
Once the token was launched, there was great congestion in the network, which caused some users to have to raise the fees to claim and be able to make recurring operations (myself included). Some wallets were having problems such as phantom, while Solflare and Backpack remained relatively normal in performance. This fact was also a litmus test for the Solana network to see if it could support the number of users carrying out its operations, which it could carry out normally.
With the early launch, some whales made their presence in the Solana network, one of them bought 6.6 million dollars of the JUP token at a price of $0.49 per token.
As expected due to the euphoria and demand for this token, the Jupiter DEX passed in trading volume in the last 24 hours to the Uniswap dex, a fact that could already be seen coming.
Jupiter is currently ranked 72nd in #Criptomonedas with the highest market capitalization. Earlier he came close to 69th place.
Regarding my airdrop, I have made the decision to hold it for a while, and if it drops a little more, I can buy to accumulate more. Meanwhile, until there is an official Jupiter staking for the JUP token, I have decided to split my Holdings into two known protocols and farm points for a possible airdrop later. The first of them is MarginFi, which I have already been accumulating points with other tokens and they have opened the loan option with JUP collateral.
The second protocol in mind is KaminoFinance, which I have also had experience using before the inclusion of farming points.
Obviously there are more options to work with #JUP tokens, but in my opinion I think these options are more convenient because I have had experience with it before. Always remember to do your due research before being able to interact with protocols that we do not know, especially if you are new to the #Solana ecosystem. If you know a different strategy, you can leave it in the comments to share with the community.
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