Solana’s decentralized finance (DeFi) aggregator, Jupiter, has revealed the much-anticipated launch date and time for its JUP token airdrop. In an additional twist, Jupiter has hinted at the upcoming launch of a new meme coin preceding the airdrop.
Jupiter Unveils Airdrop Schedule Solana’s blockchain has experienced a surge in DeFi activity since early December, fueled by meme coins, the Jito airdrop, and the rising value of SOL. Jupiter, the Solana-based DeFi aggregator, has officially disclosed that its JUP token airdrop will kick off on January 31, 2024, at 10:00 AM EST. The announcement came from Jupiter’s founder, known pseudonymously as Meow.
“WEN: 31st of Jupuary 10 AM EST On the 1st of Jupuary, we outlined the main areas of work as we aim to get to launch. We have been right on schedule executing on all these, and we are happy to share that JUP will launch on 31st of Jupuary, 10 AM EST.”
Nearly a million crypto wallets are eligible to receive JUP tokens through the airdrop, according to Jupiter’s announcement. Last month, the DeFi platform introduced a tool enabling users to check their eligibility and expected JUP allocation.
Airdrop Details JUP airdrop allocations are influenced by factors such as a user’s trading volume on Jupiter and their consistent use of the Jupiter website. Every Jupiter user is eligible for a minimum of 200 JUP tokens. Additionally, users holding assets worth $10 on the Jupiter platform or with at least 10 transactions prior to March 2022 can receive an extra 500 JUP tokens.
The airdrop constitutes 40% of the total JUP token supply, reflecting the protocol’s popularity. Jupiter’s founder, Meow, emphasized that the airdrop is an experimental major token distribution, describing it as a “high-stress event” not focused on hype or achieving the perfect price discovery.
Jupiter’s Giveaway Roadmap As one of the prominent DeFi projects on Solana, Jupiter assists users in finding the best token trading rates. The initial airdrop is the first phase of a comprehensive giveaway roadmap. Jupiter plans three more community airdrops, each involving 1 billion JUP tokens, with dates to be announced later. An additional 1 billion tokens will be allocated for community contributors and grants.
The cumulative airdrops will distribute 5 billion JUP, half of the protocol’s 10 billion JUP token supply. The Jupiter team will manage the remaining JUP tokens, with 2 billion going to current team members, 2 billion as a strategic reserve, and 1 billion for liquidity provision.
Introduction of a Meme Coin Meow also revealed that Jupiter would launch a meme coin in preparation for the JUP token airdrop, set to debut next week. The founder clarified that the meme coin is not created by Jupiter but serves as a testing ground for a new launch platform. It remains unclear whether the meme token will be airdropped alongside the JUP token.
