Jupiter Unveils ‘Jupuary’ Airdrop Event

Jupiter, the largest decentralized exchange aggregator on Solana, is planning to broaden its token distribution with an airdrop event dubbed “Jupuary.”

The project will distribute 700 million tokens — worth $580 million — to users, stakers, and contributors in January based on a snapshot already taken.

The Jupiter team is still finalizing the specific criteria for the airdrop, and there is ongoing discussion within the community regarding the eligibility guidelines.

Distribution Strategy

Jupiter’s latest distribution strategy is segmented into two primary groups:
– Users and Stakers
– Prominent community supporters called “Carrots and Good Cats.”

This distribution structure aims to incentivize existing and new users, further expanding the JUP community, as noted by the Jupiter DAO.

Draft Eligibility Criteria

A draft eligibility criteria considers the trading volume across all Jupiter products from the past year. According to this draft:
– Users with a minimum annual volume of $800 would receive at least 50 tokens.
– Those with $29,000 would receive 250 tokens, among other allocations.

There are 2.3 million eligible wallets. Last year, it airdropped nearly 1 billion JUP tokens to users who had executed at least $1,000 in swap volume on the platform before the snapshot in November 2023.

Token Supply

The token’s circulating supply currently stands at 1.35 billion tokens, with a maximum supply of 10 billion tokens — giving the project a fully diluted valuation of $8.2 billion based on the current market price. Jupiter plans to reduce the maximum supply from 10 billion to 7 billion tokens. This reduction involves burning over 3 billion tokens — a move approved by the community in August 2024.

Overview of Jupiter

Launched in October 2021 by the pseudonymous “Meow,” Jupiter aggregates liquidity from various DEXs on Solana, ensuring users find favorable rates for token swaps. It also offers a perpetuals trading product.

The aggregator platform recorded a 24-hour trading volume of over $2.3 billion over the past 24 hours.