Jupiter, a DEX aggregator on Solana blockchain, opened up inital claims for its JUP token airdrop, the project announced on X on Friday.
As users started claiming their tokens, some expressed discontent over their allocation on X and Discord, saying they should have received more tokens due to the age of their wallets and how much they used the protocol over the years.
The airdrop is designed to distribute four out of 10 billion of JUP, or 40% of the total supply, in four phases, the project announced in November. The first phase will release one billion Jupiter tokens to users who have done a minimum of $1,000 in swap volume on the protocol by the snapshot date of Nov. 2.
The project’s pseudonymous founder who goes by Meow said on X that the first phase would see 2% of tokens distributed to all wallets, with 7% allocated in a “tiered score based distribution, with score based on adjusted volume.” Another 1% would be allocated to community members on Discord and Twitter, and developers.
Meow said that they believe this breakdown will reward power users and contributors significantly more, while likely giving everyone else a reason to come back and engage. According to the founder, Jupiter facilitated $35 billion in cumulative trading volume by October, with 80% of that made by 0.2% of all wallets.