50% of the 10B JUP supply is finally going to the Jupiter community, with 10% going to Solana wallets during the initial airdrop. The announcement by Jupiter, a Solana-founded decentralized finance (DeFi) aggregator, shows that its enthusiastically expected airdrop will launch in January.
In an X (formerly Twitter) post on Friday written from a cat’s point of view, Meow, Jupiter’s pseudonymous founder, offered numerous updates concerning the project’s forthcoming plans and gave more information regarding the imminent airdrop.
Jupiter Community to Receive 4B JUP Tokens
Earlier, it was established that 40% of the 10B JUP tokens to be Minted will be set aside for airdrops to be dispensed to members of the Jupiter Community. This month, the project introduced a website to permit qualified Jupiter users to know the amount of JUP they might gain.
On Friday, Meow claimed the funds would be introduced in four airdrops. The first will happen in January and will entail dropping 1 billion JUP tokens into the wallets of Solana users. Further, the founder revealed that an extra 10% of the overall JUP supply will be set aside for grants and community contributors.
According to Meow, this allocation, possibly provided to the DAO to administer, must offer a huge stimulus for the community to take part in the initiative to extend Jupiter, evaluate the Solana ecosystem’s projects, and govern the decentralized meta.
The figures indicate that half of all JUP tokens will finally be disseminated to the Jupiter community, while the Jupiter team will manage the remaining half accordingly. In this case, 20% will serve as a strategic reserve, 20 percent will go to present team members, while the remainder will serve as a liquidity provision, either ‘wholly or frequently on-chain.’
Solana DeFi Users Benefits Streak in Airdrop
Meow said that more information concerning the JUP token liquidity provision and the airdrop will be revealed later. Jupiter is one of the biggest decentralized finance projects developed on Solana.
It is a swap aggregator, meaning it guides users on the best rates concerning token trading. CoinMarketCap data showed that in the past 24 hours, transactions worth $231M had been processed.
It has been a major few months for the Solana ecosystem, which has increased tides for several network projects. This includes the latest Jito and Pyth airdrops that added free tokens worth millions of dollars into users’ wallets.
BONK, emerged a wild memecoin in Solana network surging a remarkable 839% in the past month, is one of the main success stories. Solana users hope that the Jupiter airdrop will maintain the energy: in November, the team claimed that almost one million Solana wallets are qualified for the giveaway.
Editorial credit: Rcc_Btn / Shutterstock.com
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
