SOL Blockchain Opens Initial Claims for JUP Token Airdrop
The SOL blockchain has announced the opening of initial claims for its JUP token airdrop, according to a recent announcement on Twitter. Users who started claiming their tokens expressed dissatisfaction with their allocation on various platforms, stating that they should have received more tokens based on the age of their wallets and their protocol usage over the years.
Airdrop Details and Launch Phases
The JUP token airdrop aims to distribute 40% of the total supply, or four out of 10 billion tokens, in four phases. The first phase will release one billion Jupiter tokens to users who have completed at least $1,000 in swap volume on the protocol by the snapshot date of November 2.
The project’s founder, known as Meow, outlined the distribution plan for the first phase. Two percent of tokens will be distributed to all wallets, while seven percent will be allocated based on a tiered score system tied to adjusted volume. Additionally, one percent will be given to community members on Discord and Twitter, as well as developers.
Rewarding Power Users and Contributors
Meow believes that this breakdown will reward power users and contributors significantly more, while also incentivizing others to engage with the protocol. According to Meow, Jupiter facilitated $35 billion in cumulative trading volume by October, with 80% of that volume coming from just 0.2% of all wallets.
Hot Take: Jupiter’s Airdrop Sparks Controversy Over Token Allocation
Jupiter’s JUP token airdrop has generated controversy among users who feel they should have received more tokens based on factors such as wallet age and protocol usage. While the distribution plan aims to reward power users and contributors, some individuals are expressing discontent. It will be interesting to see how Jupiter addresses these concerns and whether adjustments will be made to future distribution phases.
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