HomeCryptoJupiter announces the airdrop of its token by the end of January.

Jupiter announces the airdrop of its token by the end of January.

Jupiter, an on-chain aggregator built on Solana, had announced in November that it would release 4 billion JUP tokens through an airdrop to early users of its platform, without providing an exact date for the actual launch.

Now the developers of Jupiter have revealed their cards by stating that Solana users will be able to claim the JUP token by the end of the month, with the project team finalizing the last things to inaugurate the cryptographic resource.

How to find out if you are eligible for the airdrop?

Let’s discover it together.

What is Jupiter?

Jupiter is a decentralized marketplace aggregator built on the Solana blockchain in 2021 by a unanimous developer or a group of developers using the pseudonym, Meow.

At the moment Jupiter does not have any utility token integrated with its platform, but as mentioned in the introduction of the article, it has planned to release one through an airdrop to its community.

The application works as a liquidity aggregator, which searches for all liquidity, all DEX and all automated market makers (AMM) within the Solana ecosystem to offer the end user the best price during on-chain exchange.

In practice, Jupiter aggregates the prices of all available decentralized exchanges, in order to arrive at the most convenient price for the end user, who does not need to verify the best offers on all pools by themselves.

According to Coinmarketcap data, the aggregator has already enabled the processing of over 20 billion transaction volumes, facilitating more than 140,000 token exchanges on over 4,100 trading pairs.

Jupiter, in addition to the function of aggregating prices across the multitude of existing pools on Solana and market swaps, allows for token exchange with “limit orders” by selecting the price at which the order must be executed by the platform, thus offering a more professional operation

In addition, it integrates a strategy called Dollar Collar Average (DCA), which allows its users to buy or sell cryptocurrencies at predetermined time intervals, in order to average the average purchase price of the transactions.

Finally, there are also bridge and perpetual exchange functions (still in BETA): the first one is used to transfer assets to the Solana network from a multitude of chains such as Ethereum, Base, Linea, Optimism, Arbitrum Avalanche, etc., while the second one offers the possibility to trade SOL, ETH, and WBTC in perpetual version with leverage up to 100x.

It is very interesting to underline how in November Jupiter integrated the Cross-Chain Transfer Protocol (CCTP) by Circle into its platform to bring native USDC to Solana through the Wormhole technology.

CCTP is an unauthorized on-chain utility that ensures secure USDC transfers between blockchains using a native burn-and-mint process.

Airdrop of the Jupiter token ($JUP): check if you are eligible and get ready for the claim

In the last quarter of 2023, the Jupiter team had announced the arrival of an airdrop of JUP tokens to approximately 1 million active users of the Solana ecosystem, thus attracting the attention of the general public during a particularly eventful season for decentralized infrastructure and the SOL token, which ended the year with a +820% increase in its price.

Then, at the beginning of December, Jupiter launched an online tool that offers the possibility to check eligibility for the airdrop on their addresses, verifying the allocation for each wallet, without being able to make the actual claim.

This is now expected by the end of January, after the Meow project developer revealed the plans for the official launch of the JUP token in the cryptocurrency market.

In particular, this month has been nicknamed “Jupuary,” in commemoration of all the preparations being organized for the launch of the digital resource.

There are still many points that need to be clarified and communicated to the Jupiter community before the JUP claim can be opened: in fact, some initial infrastructures such as liquidity pools and minting functionalities still need to be established.

In addition, the aggregator team must work to “guarantee that no cat is left behind”, that is, apparently, ensure that all eligible users can request JUP.

These are the words of Meow in the last post where we talked about planning for the big airdrop event:

“So we will do an experiment. And if we make a mistake, we will admit it and improve. That’s exactly how we got here; I am determined to enter this new phase in the same way. Show up, pay the price, learn the hard way if necessary.”

JUP will have a total supply of 10 billion tokens, with 40% of it being distributed in different stages of the airdrop.

During the first phase, only 1 billion JUP tokens (10% of the supply) will be unlocked, which can be requested by the community and Solana developers, as well as all users who have interacted with Jupiter in the past.

In particular, the eligibility criteria for the airdrop offer a base of 200 JUP to all users who are part of the Solana ecosystem, with the possibility of obtaining up to 500 JUP for those who have traded at least 10 dollars on the v1 version of the platform or for those who have executed at least 10 transactions before March 2022.

There are also allocation multipliers that take into account the activity carried out over several months, the volume traded before 2023, and the amount of limit orders and executed DCA.

Most of the participants in the Solana cryptographic infrastructure expect a very interesting token distribution, which could offer more than $1000 per user.

Overall, the scope of airdrop could be similar to the one carried out a few weeks ago by the liquid staking JIto platform.

To check your allocation for the Jupiter airdrop, you can click on this website, connect your Phantom wallet, and check if you are eligible to redeem a share of JUP tokens soon.

airdrop jupiter token
Alessandro Adami
Alessandro Adami
Graduated in "Information, Media and Advertising", for over 4 years interested in the cryptocurrency and blockchain space. Co-Founder of Tokenparty, community active in spreading crypto-enthusiasm. Co-founder of Legal Hackers Civitanova marche. Information technology consultant. Ethereum Fan Boy and supporter of Chainlink oracles, strongly believes that smart contracts will be central in the development of society.