Jupiter, a decentralized trading aggregator built on the Solana blockchain, is set to introduce its native token, JUP, through an upcoming airdrop scheduled for Wednesday at 10 a.m. EST. The announcement, made by Moew, the pseudonymous founder of Jupiter, comes with significant adjustments to the token’s initial circulating supply.
JUP Token Details and Circulating Supply
Moew, the pseudonymous founder of Jupiter, disclosed that the token will initially have a maximum circulating supply of 1.35 billion. This adjustment comes after Moew’s recent forum post, revising the total number of coins available for trading from the initially planned 1.7 billion.
Everything you need to know about the Jupiter airdrop tomorrow in one page.
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— Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) January 30, 2024
The commencement of trading for the JUP token could translate to a market capitalization of approximately $700 million. When reporting, the JUP-U.S. dollar perpetual was trading at 66 cents on Aevo.
Allocation Breakdown
Out of the initial circulating supply of 1.35 billion tokens, allocations include:
- 1 billion for airdrops to the community
- 50 million each for loans to market makers on centralized exchanges and liquidity pool requirements
- 250 million for a launch pool.
Airdrop Eligibility
Airdrop, involves distributing new or existing tokens to a crypto project’s community for free, aiming to foster adoption. According to Airdrop Official, approximately 955,000 wallets that interacted with Jupiter before November 2 are eligible for the JUP airdrop.
The introduction of the JUP token represents a significant development for Jupiter and its ecosystem, as it seeks to engage and incentivize its community through token distribution. With the airdrop set to commence, stakeholders are eager to participate and witness the token’s impact on the broader decentralized trading landscape.
