Jupiter Founder Meow announced plans to issue and airdrop its native cryptocurrency token, JUP, in the fourth week of January. According to the initial token distribution plan, a total of 10 billion JUP tokens will be minted, with 7.5% allocated for the initial airdrop.
Summary:
Solana aggregator Jupiter’s first airdrop of 1 billion JUP tokens! OTC report temporarily at $0.23.
Background:
Solana welcomes a wave of airdrops, can the devastated DeFi ecosystem be reborn in fire?
Table of Contents:
Airdropping 7.5 billion JUP tokens
OTC report temporarily at $0.76
Jupiter: Solana on-chain trading aggregator
Since early December, the rise in meme coins, Jito airdrops, and the price of SOL itself has driven a surge in decentralized finance (DeFi) activities on the Solana blockchain. Today, Jupiter founder Meow posted a lengthy article on X, announcing plans to issue and airdrop the Jupiter native cryptocurrency token, JUP, in the fourth week of Jupuary (January).
According to founder Meow’s explanation, the initial token distribution plan for Jupiter is as follows:
A total of 10 billion JUP tokens will be minted.
These tokens will be evenly distributed to two cold wallets, with the community and the team each holding 50%.
The team wallet will extract 10% for liquidity supply.
The community wallet will extract 15% for the initial airdrop and to meet the community’s recent needs.
In addition, 5% of the tokens will be used for the initial token launch pool in the team’s liquidity provider (LP) account. The allocation of the remaining portion has not been determined, but there may be an additional 1-2% of tokens becoming tradable on the first day.
Overall, it is expected that on the first day of token launch, 15%-17.5% of JUP will enter circulation, with 10%-7.5% stored in hot wallets and the remaining 75% stored in cold wallets.
Although JUP tokens are not officially trading yet, on-chain options trading platform Aevo has already been launched for JUP futures, with the current price temporarily at $0.76, a 3.95% decrease in the past 24 hours. The trading volume in the past 24 hours is approximately $57,000, and the current open interest is $1.422 million.
If the OTC valuation is accurate, the amount of this airdrop could reach nearly $500 million, ranking 11th in the past airdrop rankings, surpassing Blur and second only to Optimism. It is also the largest airdrop project on the Solana chain.
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Source: Aevo
Jupiter is a decentralized trading aggregator on Solana, supporting users to exchange tokens with low slippage and low transaction fees. Jupiter aims to provide a product with multiple functionalities in a single interface, currently offering features such as trading aggregator, limit orders, dollar-cost averaging (DCA), cross-chain trading aggregator, and perpetual contracts.
In addition, Jupiter also aims to build tools for developers so they can easily connect DApps, user interfaces, or web browsers to the platform. Currently, notable projects connected to Jupiter on Solana include Orca, Raydium, and Serum.
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