- Jupiter will begin its first of four airdrops in January, distributing 1 billion JUP tokens to Solana DeFi users.
- Of the 10 billion JUP tokens to be minted, 50% will go to the Jupiter community via airdrops and grants. The other 50% will be allocated to the team, reserves, and liquidity provision.
- Jupiter is a leading Solana DeFi aggregator that helps users find the best swap rates. It has processed over $231 million in transactions in the past 24 hours.
Jupiter, the Solana-based decentralized finance (DeFi) aggregator, has announced that its eagerly anticipated airdrop is set to begin as soon as January.
Airdrop Details
In a colorful Twitter post written from the perspective of a cat, Jupiter’s pseudonymous founder Meow gave a slew of updates Friday regarding the project’s future plans and detailing the breakdown of the upcoming airdrop.
As previously established, 40% of the 10 billion JUP tokens set to be minted into circulation will be reserved for airdrops that will be distributed to Jupiter community members. Earlier this month, the project rolled out a website that allows eligible Jupiter users to learn how much JUP they stand to gain.
Those funds will be rolled out in four airdrops, Meow said Friday, with the first—set for January—scheduled to drop 1 billion JUP tokens into Solana users’ wallets.
The founder also announced that an additional 10% of the total JUP supply—that’s another billion tokens—will be reserved for community contributors and grants.
Token Allocation
Those figures mean that 50% of all JUP tokens will eventually be distributed to the Jupiter community. The other 50% of the token supply will be managed by the Jupiter team accordingly: 20% will go to current team members, 20% will serve as a strategic reserve and a further 10% will act as a liquidity provision either mostly or entirely on-chain.
Conclusion
Additional details regarding the airdrop and JUP token liquidity provision will be shared in the coming weeks, Meow said. Jupiter is one of the largest DeFi projects built on Solana. As a swap aggregator, the platform advises users on the best rates when trading tokens. It has processed about $231 million worth of transactions in the last 24 hours alone, according to CoinMarketCap.
