Jupiter Exchange Unveils Native Token JUP with Exciting Airdrop Plans
At the recent Solana Breakpoint event, the Jupiter Exchange made an exciting announcement that has set the crypto community buzzing with anticipation. Jupiter Exchange revealed its plans to launch the native token of their platform and distribute it to the community through a series of airdrops. Preliminary information suggests that the Jupiter token (JUP) will serve as a governance token and will be allocated as follows:
WE ARE GETTING PAID PAID $JUP
40% supply for airdrop, “focused on users who have been consistent last 2 years” pic.twitter.com/mj7la8SVvt
— drews.sol (@drews888) November 2, 2023
- 40% for the community (distributed through 4 rounds of airdrops).
- 20% for token sales (subject to a lock-up period).
- 40% for the project’s team.
What has caught the attention of crypto enthusiasts and investors is the news of the first airdrop, where 955,000 early supporters of the project will receive JUP tokens.
However, one crucial detail is still shrouded in mystery – the exact launch date of the JUP token and the commencement of the airdrop. The Jupiter team has stated that they will take the next two weeks to gather community feedback before making an official announcement regarding the specific timing.
Jupiter is a decentralized exchange (DEX) platform built within the Solana ecosystem, featuring popular DeFi functionalities such as Swapping, Limit Orders, and Dollar-Cost Averaging (DCA). In the last 24 hours, Jupiter Exchange recorded an impressive trading volume of $71.8 million on its platform.
“Jupiter has held a prominent position as a leading DEX on Solana for quite some time. Following the demise of Serum due to the downfall of FTX, Jupiter stepped in to fill that void and is presenting new opportunities for Solana DeFi,” stated Spencer Hughes, an analyst at Blockworks Research.
The Solana ecosystem has been making waves in the cryptocurrency world due to its scalability, low transaction fees, and vibrant DeFi projects. Jupiter Exchange’s decision to leverage this ecosystem and introduce its native token has captured the attention of the crypto community and is seen as a promising development.
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