Jupiter, the anonymous founder of Solana aggregator, Meow, has announced plans to issue and airdrop its native cryptocurrency token, JUP, in the fourth week of January. According to its initial token distribution plan, a total of 10 billion JUP tokens will be minted, with 7.5% allocated for the initial airdrop.
(Previous Summary: Solana aggregator Jupiter’s first airdrop of “1 billion JUP”! Off-exchange trading temporarily reported at $0.23)
(Background Supplement: Solana welcomes the airdrop frenzy, can the devastated DeFi ecosystem be reborn in flames?)
Table of Contents:
Airdrop of 7.5 billion JUP tokens
Off-exchange trading temporarily reported at $0.76
Jupiter: Solana on-chain trading aggregator
Since early December, the rise in meme coins, Jito airdrops, and the increasing price of SOL have driven the surge in decentralized finance (DeFi) activities on the Solana blockchain. Today, Meow, the anonymous founder of Jupiter, published a long post on X announcing plans to issue and airdrop the Jupiter native cryptocurrency token, JUP, in the fourth week of January, also known as “Jupuary.”
According to Meow’s explanation, the preliminary 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 receiving 50%.
– The team wallet will extract 10% for liquidity supply.
– The community wallet will extract 15% for the initial airdrop and to meet recent community 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 decided yet, 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 the market circulation, with 10%-7.5% stored in hot wallets and the remaining 75% stored in cold wallets.
Although JUP tokens are not officially available for trading at the moment, on-chain options trading platform Aevo has already gone live with JUP futures. The current price is temporarily reported at $0.76, with a 3.95% decrease in the past 24 hours and a trading volume of approximately $57,000 in the past 24 hours. The current open interest is $1.422 million.
If the off-exchange valuation is accurate, the amount of this airdrop could reach nearly $500 million, making it the 11th largest airdrop on the historical airdrop rankings, surpassing Blur and second only to Optimism. It is also the largest airdrop project on the Solana blockchain.
Further reading:
Top 10 Cryptocurrency Airdrops: Uniswap Ignites DeFi Frenzy, TIA and BONK Become Focus Dark Horses
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Source: Aevo
Jupiter is a decentralized trading aggregator on Solana that allows users to exchange tokens with low slippage and low transaction fees. Jupiter aims to provide a product with multiple functionalities in a single interface, including trading aggregation, limit orders, dollar-cost averaging (DCA), cross-chain trading aggregation, and perpetual contracts.
Furthermore, Jupiter aims to build tools for developers to 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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