Jupiter to Roll Out First Phase of Major Airdrop: 1 Billion JUP Tokens to Reward 955,000 Solana Wallets

The decentralized exchange (dex) Jupiter has unveiled specifics regarding the distribution of the first 10% tranche of its community airdrop, encompassing 1 billion jupiter (JUP) tokens from a total pool of 10 billion. This initiative is designed to honor 955,000 distinct Solana wallets that engaged with Jupiter, acknowledging their role as early adopters.

Jupiter’s 1B Token Airdrop

In the cryptocurrency sphere, there’s growing buzz about a fresh airdrop originating from Jupiter, a Solana-based dex aggregator. Such aggregators function by scouring multiple decentralized exchanges to secure the most favorable prices and liquidity for trades. They then consolidate these trades across various dex platforms in a singular transaction, optimizing costs and fees for users.

It is important to differentiate the recent Jupiter airdrop from the token jupiter (JUP), an ERC20 token that debuted in 2020. They are not the same. Established in 2021, Jupiter, the dex aggregator, currently supports a diverse array of 270 coins and 1,098 trading pairs, as indicated by statistics from coingecko.com. Over the last 24 hours, the aggregator has impressively registered a trading volume of $172,855,765.

Jupiter’s airdrop particulars were revealed on the social media outlet X (previously known as Twitter). A substantial portion of the airdrop, totaling 700 million tokens, will be apportioned according to tiers of trading volume. The foremost 2,000 wallets, determined by their adjusted trading volume, will each receive 100,000 tokens. This will be followed by 10,000 wallets receiving 20,000 tokens each, and then 50,000 wallets obtaining 3,000 tokens apiece.

Moreover, 150,000 wallets are slated to acquire 1,000 tokens each. The calculation of trading volume will be refined by doubling or tripling the 2023 figures, excluding volumes from arbitrage and bots, and omitting malicious actors. An additional allotment of 200 million tokens will be equally divided among all 955,000 qualifying wallets, with each set to gain around 200 tokens. A reserve of 100 million tokens is allocated for actively participating community members on platforms like Discord, X, and among developers.

Jupiter’s strategy of tier-based allocation, coupled with adjustments for aspects such as the time frame, bot interference, and community engagement, aims to strike a balance between rewarding its most active users and maintaining inclusivity for smaller wallet holders. Participants will have the opportunity to review their allocated shares on Jupiter’s website next week. This event will mark the completion of Jupiter’s initial phase in its sequence of community airdrops, leading up to the launch of its JUP token.

What do you think about the upcoming Jupiter airdrop? Share your thoughts and opinions about this subject in the comments section below.

by Jamie Redman via Bitcoin News