Binance will list Jupiter ($JUP) and open trading for these spot trading pairs at 2024-01-31 15:30 (UTC).
Jupiter, a decentralized trading aggregator built on the Solana blockchain, is set to launch its native token, JUP, through an airdrop on Wednesday at 10 a.m. EST. The founder, known as Moew, shared in a forum post that the token’s initial maximum circulating supply would be 1.35 billion, revising it down from the previously planned 1.7 billion coins. Considering the JUP-U.S. dollar perpetuals trading at 65 cents on Aevo, the token could enter the market with an approximate market capitalization of $700 million.
Out of the initial circulating supply, 1 billion coins are allocated for airdrops, 50 million each for loans to market makers on centralized exchanges and liquidity pool needs, and 250 million for a launch pool. Airdrops involve the widespread distribution of free tokens to communities, fostering adoption.
Approximately 955,000 wallets that engaged with Jupiter before November 2 are eligible for the JUP airdrop, as reported by Airdrop Official.
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