Jupiter’s 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 JUP 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, with ongoing discussions within the community regarding eligibility guidelines.

Jupiter’s distribution strategy is segmented into two primary groups: “users and stakers” and prominent community supporters known as “Carrots and Good Cats.” This structure aims to incentivize existing and new users, further expanding the JUP community as noted by the Jupiter DAO.

A draft eligibility criteria considers trading volume across all Jupiter products from the past year. According to this proposal, users with a minimum annual volume of $800 would receive at least 50 tokens, while those with $29,000 would receive 250 tokens, among other allocations. Currently, there are 2.3 million eligible wallets.

Last year, Jupiter airdropped nearly 1 billion JUP tokens to users who executed at least $1,000 in swap volume on the platform before the snapshot in November 2023.

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

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 perpetual trading product.

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