The Launch of Jupiter’s Native Token on Solana
The native token of Jupiter, a decentralized exchange aggregator on Solana, is set to go live today, with availability for trading on centralized exchanges soon after. Centralized exchanges such as Bybit, Binance, Bitfinex, and OKX have already listed the token and will begin trading it after 10 am EST.
Jupiter’s founder, Meow, announced that the project has also created a native liquidity pool with tokens initially priced at $0.40. The total supply of tokens is 10 billion, and 1.35 billion tokens will be in circulation.
Additionally, upon the token’s activation, Jupiter will open its retrospective airdrop for users who traded at least $1,000 on the platform before November 2. The airdrop aims to reward 955,000 wallet addresses, but fewer than 670,000 have claimed their tokens so far.
Pre-launch Market
Prior to its official distribution today, the JUP token has been available for trading as a pre-launch perpetual derivative on Aevo. The current price of JUP on Aevo’s pre-market is $0.66, resulting in a fully diluted market cap of $6.6 billion.
Jupiter is the leading decentralized exchange aggregator on Solana in terms of volume. It has facilitated a trading volume of over $600 million in the last 24 hours.
Hot Take: Jupiter’s Token Launch Marks Exciting Milestone for Solana
The launch of Jupiter’s native token on Solana signifies an important milestone for both the project and the Solana ecosystem. With its listing on major centralized exchanges and the creation of a native liquidity pool, Jupiter is positioning itself as a key player in the decentralized finance (DeFi) space.
The retrospective airdrop also adds an incentive for users to participate in Jupiter’s ecosystem, further driving adoption and engagement. As the top decentralized exchange aggregator on Solana by volume, Jupiter’s token launch is expected to generate significant interest and trading activity.
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