- Jupiter, a decentralized trading aggregator on Solana, plans to airdrop its JUP token by the end of January.
- Nearly 1 million Solana wallets have qualified for the airdrop, which is 40% of JUP’s total supply. This reflects Jupiter’s popularity.
- The airdrop will stress test JUP’s trading infrastructure and the Solana network itself. It will show whether the altcoin frenzy is sustainable long-term.
Jupiter Optimizing for Robust Token Distribution
Since early December. meme coins, the Jito airdrop and SOL’s own booming price have contributed to a surge in decentralized finance (DeFi) activity on the Solana blockchain. The airdrop may test the longevity of the altcoin frenzy.
In a post on X, the founder, Meow, said the protocol was “not optimizing for hype or price of perfect price discovery.” Rather, the airdrop would be an experiment in conducting a major token distribution – a “high stress event” – while “ensuring no cats are left behind.”
Nearly 1 Million Wallets Qualify for Unusually Large Airdrop
Nearly 1 million Solana wallets have qualified for a slice of the unusually large airdrop: 40% of JUP’s total supply, a size that reflects Jupiter’s popularity with traders. The program routes token buy and sell orders through a litany of other on-chain trading venues to find the best price.
Airdrop Will Stress Test JUP and Solana Infrastructure
The distribution will be a stress test for JUP trading infrastructure as well as the Solana network itself, Meow said.