Jupiter, the Solana-based decentralized finance (DeFi) aggregator, has revealed plans for its highly anticipated airdrop scheduled to commence in January. In a lively Twitter post authored by Meow, Jupiter’s pseudonymous founder, various updates were shared, including details about the upcoming airdrop. Out of the 10 billion JUP tokens set for circulation, 40% will be reserved for airdrops distributed to the Jupiter community, with a website assisting eligible users in determining their allocated JUP.
Meow disclosed that the airdrop, divided into four phases, will kick off in January, distributing 1 billion JUP tokens to Solana users’ wallets. An additional 10% of the total JUP supply, equivalent to another billion tokens, will be earmarked for community contributors and grants, likely administered by the DAO. This allocation aims to incentivize community participation in initiatives fostering Jupiter’s growth, vetting projects for the Solana ecosystem, and driving decentralized objectives.
In total, 50% of JUP tokens will eventually be disseminated to the Jupiter community, while the remaining 50% will be managed by the Jupiter team. Among the team’s allocations, 20% will go to current members, 20% will serve as a strategic reserve, and another 10% will act as liquidity provision, predominantly on-chain. Further details on the airdrop and JUP token liquidity provision will be communicated in the forthcoming weeks.
Jupiter, as one of the largest DeFi projects on Solana, functions as a swap aggregator, guiding users on optimal token trading rates. Over the past 24 hours alone, the platform processed approximately $231 million in transactions, according to CoinMarketCap. Amidst a thriving Solana ecosystem, the Jupiter airdrop is anticipated to sustain momentum, with nearly a million SOL wallets deemed eligible for the giveaway, as indicated by the team in the previous month.