Prepare for the JUP Token Airdrop on Solana’s Jupiter DEX
Months of anticipation are finally coming to an end as Jupiter, a decentralized exchange aggregator on Solana, is gearing up to launch its JUP token airdrop. This airdrop is expected to be the largest of 2024, with nearly a million Solana wallets eligible to participate.
If you’re ready to claim your JUP tokens, Jupiter has already released an airdrop checker tool and provided guidance on what to expect. Here’s everything you need to know if you haven’t been following the action closely.
When is the JUP Claim?
The JUP airdrop claim will take place at 10 a.m. ET on Wednesday, January 31 through Jupiter’s launchpad, which was recently used for the WEN token launch on Solana.
Who Gets JUP?
Jupiter has confirmed that approximately 955,000 wallets are eligible for the JUP airdrop. This includes early users who interacted with the protocol prior to a November 2 snapshot.
IT’S TIME FOR JUP!
JUP launch site is up. You can check your airdrop allocation, set up your DCA/Limit orders ahead of time, and see the slot countdown.
Launch Time: 31 Jupuary 10am EST
Initial Circulating: 1.35B
Launch Pool Params:
Initial:… pic.twitter.com/PAC8jSBbSD— meow 🥧 (@weremeow) January 30, 2024
Jupiter has launched a tool to help you check if you’re eligible for the airdrop and determine the number of tokens you’ll receive. According to a previous tweet from Jupiter, 20% of the initial airdrop tokens will be evenly distributed among all wallets, while 70% will be distributed based on a “score-based distribution” tied to protocol use. The remaining 10% will go to community members and developers.
Additional airdrops are planned for new users in the future, but specific details and timelines have yet to be announced.
How Many Tokens Are There?
A total of 10 billion JUP tokens are being minted. Half of these tokens will be distributed to the community through multiple airdrops and other initiatives.
The initial token claim on Wednesday will account for 1 billion JUP out of the eventual 4 billion JUP that will be distributed across four airdrop waves. Another 1 billion JUP will be allocated for community contributors and grants, although the timing of these initiatives is still unknown.
The remaining half of the JUP supply will be used for team and token needs, including a liquidity pool. The Jupiter team will not earn any tokens until January 2025, when a two-year vesting cycle begins.
According to a Tuesday post from the team, there will be 1.35 billion JUP circulating on day one. This includes 1 billion JUP for the airdrop claim, 250 million JUP for a launch pool, and 50 million JUP each for loans to centralized exchange market makers and immediate liquidity pool needs. The initial circulation has been revised down from the previously stated 1.7 billion JUP.
Hot Take: Jupiter’s JUP Token Airdrop Marks a Milestone in Solana’s DeFi Landscape
The launch of Jupiter’s JUP token airdrop on Solana is a significant event for the decentralized finance (DeFi) ecosystem on the blockchain. With nearly a million eligible wallets and the promise of future airdrops, Jupiter aims to foster community participation and engagement.
This airdrop serves as an opportunity for early users to benefit from their interactions with the protocol and incentivizes further adoption of Solana’s DEX ecosystem. As the largest token launch in 2024, Jupiter’s JUP token distribution could have far-reaching implications for Solana and its growing DeFi ecosystem.
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