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BlockNews
Home CRYPTO

Everything You Need to Know About the JUP Token Airdrop

Michael Juanico by Michael Juanico
January 30, 2024
in CRYPTO, DEFI, FEATURED
Reading Time: 3 mins read
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  • Jupiter is airdropping 4 billion JUP tokens on January 31 to nearly 1 million Solana wallets, marking the largest airdrop of 2024
  • Half of the 10 billion total supply goes to the community via airdrops, while the other half is for the team, token needs, and liquidity pools
  • Eligible wallets get tokens based on usage and participation, with 20% distributed evenly and 70% based on protocol use; 135 million tokens will circulate on day one

The long-awaited Jupiter airdrop is finally happening on January 31. Nearly a million Solana wallets are eligible to claim the new JUP token in what’s expected to be the largest airdrop of 2024. Jupiter has provided details on the airdrop in recent weeks, but let’s break down everything you need to know before the big event.

When is the JUP Claim?

Jupiter will launch the airdrop claim at 10 am ET on Wednesday, January 31 via its own launchpad, which was just used to launch the WEN token on Solana.

JUST IN: $JUP (@JupiterExchange) is about to break Solana DeFi

(In a good way):

Here is everything you need to know ahead of tomorrow's airdrop 👇 pic.twitter.com/E0fEE7eXOS

— BlockNews.com (@blocknewsdotcom) January 30, 2024

Who Gets JUP Tokens?

According to Jupiter, about 955,000 wallets are eligible for the JUP airdrop. This includes early users who interacted with the protocol ahead of a November 2 snapshot. Jupiter launched a tool to see whether you’re eligible and how many tokens you’ll get.

How Will the Tokens Be Distributed?

Overall, there are 10 billion JUP tokens being minted. Half of those tokens will go out to the community over multiple airdrops.

For the initial airdrop, 4 billion JUP tokens will be distributed:

  • 20% evenly across all wallets
  • 70% based on protocol use
  • 10% to community members and developers

Further airdrops down the line will distribute tokens to new users.

Half of the overall supply will be used for team, token, and liquidity pool needs. The Jupiter team will not earn any tokens until a two-year vesting period begins in January 2025.

How Many Tokens Will Circulate on Day One?

According to Jupiter, 135 billion JUP will circulate on day one, down from the originally planned 17 billion. This supply will be distributed as:

  • 1 billion JUP for the airdrop
  • 250 million JUP for a launch pool
  • 50 million JUP each for exchange market makers and liquidity pools

Conclusion

The Jupiter airdrop will likely be the largest token launch of 2024 and will introduce JUP, the utility token for the popular Solana DEX aggregator. With millions of wallets eligible and billions of tokens up for grabs, it’s an airdrop you won’t want to miss if you’re a Solana user. Check your eligibility and prepare your wallet for the claim on January 31.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: cryptoJUPSolanaWEN
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

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