Key points:
- Solana DEX integrator Jupiter has gone through extensive preparatory steps for “Jupuary” and is preparing for the launch of its own token, JUP, expected in the last week of January.
- This token launch is part of a series of airdrops in the Solana ecosystem. Jupiter plans to distribute 4 billion JUP tokens in four stages, allocating 40% of the total supply.
We look forward to the launch of Jupiter’s JUP token
As token airdrops continue to spread across the cryptocurrency landscape, one thing stands out to Solana enthusiasts. yupJupiter is the native token of the decentralized exchange (DEX) aggregator.
Keeping track of multiple upcoming token distributions can be overwhelming, but the launch of Jupiter’s JUP token is of particular interest within the Solana community. Initial plans hinted at a January launch, and now a more specific time frame has been provided for enthusiasts to mark their calendars.
According to pseudonymous founder Meow, the token airdrop is scheduled to take place in the last week of each month after considerable preparation under the campaign name. “In July.”
JUP release roadmap
Meow’s recent tweet hinted at a launch expected in the fourth week of Jupuary, highlighting the extensive groundwork the team has done. They are focused on setting up the necessary infrastructure, such as further communication about the launch, liquidity pools and issuance functions, and ensuring seamless access for all eligible users to claim their JUP tokens. The upcoming release date will be finalized with three weeks of community engagement to finalize details.
Jupuary Kickoff: Let’s start JUP together!
Long essay ahead, no TLDR. Read this if you can trade*
July will be a month of learning. Learn how to get started with JUP together as a community, learn how to improve our infrastructure for stressful events, and learn how to create great… pic.twitter.com/fGYEmz8Yvb
— Meow 🥧 (@weremeow) January 2, 2024
In a candid statement, Meow acknowledged the experimental nature of this phase and expressed the team’s willingness to accept any mistakes and develop from the experience. This philosophy is consistent with the approach that has led Jupiter to where it is today and reflects a determination to learn, adapt and evolve.
Also Read: Cryptocurrency Airdrops: Are They Really Safe? “The Ultimate Guide”
Airdrop details and pre-launch preparations
Jupiter previously revealed that nearly one million Solana wallets could be eligible for the JUP airdrop. Although the allocation confirmation website went live in early December, users will not yet be able to claim their tokens until the official airdrop begins later this month.
The airdrop strategy includes 4 drops and allocates a total of 4 billion JUP tokens, equivalent to 40% of the total supply. In the first wave, 1 billion tokens will be distributed based on user activity on the aggregator, including trading volume and frequency of platform usage.
🚨Breaking News: @Jupiter Exchange During the month of December, trading volume reached a record high of $16.64 billion. pic.twitter.com/7yISsTVRK3
— Solana Floor | Provided by Step Finance (@SolanaFloor) January 2, 2024
December marked a milestone for Jupiter, with trading volume hitting a significant high of about $16.65 billion, according to data from Solana Floor and Step Finance. This surge in activity more than tripled the platform’s previous peak in May 2022.
Airdrop trends in Solana ecosystem
Jupiter’s impending airdrop joins a series of recent token distributions within the Solana network, following the launches of Jito and Pyth Network. Moreover, another airdrop for Solana users, Dymension, was announced on Tuesday, highlighting the dynamic nature of token distribution within the Solana DeFi community.