Jupiter’s January Airdrop: 5 Billion JUP Tokens for the Community, First Drop Deposits 10% in Solana Wallets
Jupiter, the decentralized finance (DeFi) aggregator thriving on the Solana blockchain, has revealed plans for its much-anticipated airdrop set to commence as early as January. Meow, the enigmatic pseudonymous founder of Jupiter, chose an unconventional approach to share this news, opting for a playful and colorful Twitter post from the perspective of a feline.
The scoop, unveiled in Meow’s Twitter thread, delivered a flurry of details outlining the imminent airdrop and the project’s future endeavors. Out of the 10 billion JUP tokens slated for circulation, a significant 40% has been earmarked for distribution through a series of airdrops to reward the vibrant Jupiter community.
JUP PIE CATS
Over the last week, as everyone in the world was hunting me for JUP updates, I must confess to being very inspired by this video instead.https://t.co/O4znsjujFa
I mean, check this out – the level of care he takes to get the cat ready is exquisite. The cat is now… pic.twitter.com/fYyzkJPtFa
— meow 🥧 (@weremeow) December 15, 2023
The distribution will unfold across four airdrops, with the first slated for January, unleashing a whopping 1 billion JUP tokens into the wallets of eager Solana users. Meow also disclosed that an additional 10% of the total JUP supply, equating to another billion tokens, will be allocated for community contributors and grants. This move, Meow highlighted, is geared to fuel community engagement, foster Solana ecosystem projects, and propel the decentralized meta, aligning with Jupiter’s core objectives.
The breakdown of allocations reveals that an impressive 50% of JUP tokens will ultimately find their way into the hands of the Jupiter community. The remaining 50% will be managed by the Jupiter team, with 20% allotted to current team members, another 20% reserved strategically, and a further 10% dedicated to liquidity provisions, likely to be predominantly or entirely on-chain.
Meow hinted at forthcoming updates that will delve deeper into the airdrop mechanism and shed light on the JUP token liquidity provision strategy in the weeks ahead.
Jupiter stands tall as one of Solana’s prominent DeFi projects, functioning as a swap aggregator, guiding users toward optimal token trading rates. The announcement comes amidst a flourishing period for the Solana ecosystem, basking in the success stories of various projects within the network. Notably, recent airdrops like Pyth and Jito have injected substantial value in free tokens into users’ wallets. Additionally, the meteoric rise of BONK, a sizzling Solana meme coin witnessing an astounding 839% surge in the past month, further emphasizes the buoyancy within Solana’s crypto landscape.
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