Jupiter, a decentralized trading aggregator built on the Solana blockchain, is poised to introduce its native token, JUP, through a highly anticipated airdrop scheduled for Wednesday at 10 a.m. EST. The token’s inception will mark a significant milestone in Solana’s ecosystem, with initial details revealing a maximum circulating supply of 1.35 billion JUP tokens.
The announcement, made by Jupiter’s pseudonymous founder Moew in a forum post on Tuesday, represents a slight adjustment from the previously stated circulating supply of 1.7 billion tokens. With this revised figure, the token is expected to debut with a potential market capitalization of approximately $700 million, based on the current trading price of 65 cents per JUP-USD perpetual on Aevo at the time of the announcement.
Of the initial circulating supply, the breakdown includes 1 billion coins allocated for airdrops to community members, with an additional 50 million coins earmarked for loans to market makers on centralized exchanges and liquidity pool requirements. Furthermore, 250 million tokens will be designated for a launch pool, facilitating the token’s initial distribution and liquidity provision.
The airdrop initiative aims to incentivize community engagement and foster widespread adoption of the JUP token. Notably, approximately 955,000 wallets that engaged with Jupiter before November 2 are eligible to participate in the airdrop, as confirmed by data source Airdrop Official.
The launch of JUP signifies a significant step forward for Solana’s decentralized finance (DeFi) ecosystem, offering users enhanced liquidity and trading capabilities within the network’s burgeoning DeFi landscape.