Jupiter, the largest decentralized exchange (DEX) aggregator on the Solana blockchain, has announced plans to distribute 700 million JUP tokens in a highly anticipated airdrop event dubbed “Jupuary.” Jupiter DEX Aggregator Announces 700 Million Token Airdrop in January Tokens worth approximately $580 million will be distributed to users, stakers, and contributors based on a snapshot that has already been taken. Airdrop Details and Eligibility The Jupiter team is finalizing specific criteria for the airdrop, with ongoing discussions within the community to refine the eligibility guidelines. The distribution strategy focuses on two main groups: Users and Stakers: Rewards will be distributed based on trading activity and staking contributions. Carrots and Good Cats: A designation for prominent community supporters who will receive additional incentives. The draft eligibility framework suggests that trading volume on Jupiter products in the past year will play a significant role. For example, users with an annual trading volume of at least $800 will receive 50 tokens, while those with a trading volume of $29,000 will be given 250 tokens. This isn’t Jupiter’s first major token distribution. The platform has already given away around 1 billion JUP tokens in 2023 to users who had traded at least $1,000 in volume prior to a snapshot taken in November of that year. Tokenomics Update JUP’s circulating supply is currently 1.35 billion tokens with a maximum supply of 10 billion tokens. However, Jupiter plans to burn 3 billion tokens in August 2024 in a move approved by the community, reducing the maximum supply to 7 billion. Jupiter's Role in the Solana Ecosystem Launched in October 2021 by developer nicknamed “Meow,” Jupiter aggregates liquidity from various DEXs on Solana to provide users with the best rates for token swaps. The platform also offers perpetual trading products, adding to its utility and appeal. Over the past 24 hours, Jupiter reported an impressive $2.3 billion in trading volume, underscoring its important role in the Solana ecosystem. *This is not investment advice. Continue Reading: Jupiter, the Largest Decentralized Exchange Aggregator on the Solana Network, Announces a New Airdrop Event!
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