Airdrop Farmer Earns $1 Million in Jupiter Tokens
An airdrop farmer has made over $1 million in Jupiter tokens after creating nearly 10,000 Solana wallet addresses, according to a recent report. Blockchain tracking firm Lookonchain revealed that the farmer received 1.85 million Jupiter tokens through 9,246 wallets.
Airdrop Farmer Creates 1% of All Eligible Wallets
Following the airdrop, the farmer sold a portion of the received tokens on the Jupiter platform to generate profits. The individual possessed 319,000 JUP, which were valued at $196,000 on-chain. This represents roughly 1% of the eligible wallets for Jupiter’s airdrop.
The revelation has generated controversy, with some speculating that the farmer may be an insider. However, no concrete evidence has been provided to support these claims.
WEN and JUP Airdrops
Jupiter has gained popularity as one of the leading Solana DeFi protocols. It recently launched its decentralized exchange and distributed two consecutive tokens: WEN memecoin and JUP native token.
The launch of JUP faced controversy due to concerns about potential sell-offs by the project’s creators. Users and airdrop recipients were worried that this could undermine confidence in the project.
Currently, Jupiter’s native token is trading at $0.00584.
Hot Take: A Successful Airdrop Strategy or Insider Advantage?
An airdrop farmer managed to earn an impressive $1.1 million in Jupiter tokens by creating thousands of Solana wallet addresses. While some speculate that this farmer may have had insider knowledge or advantages, no concrete evidence has been presented to support these claims. Regardless, this incident highlights the potential profitability of participating in airdrops and the significance of distributing tokens to early supporters and users. Jupiter’s native token, JUP, has faced controversy due to concerns about potential sell-offs by the project’s creators, but it continues to gain popularity as a leading Solana DeFi protocol.
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