Jupiter Exchange has announced that it will conduct an airdrop of 700 million JUP tokens in January. The purpose of the airdrop is to reward active community members, enhance liquidity, and strengthen interactions within the Jupiverse ecosystem. The airdrop is scheduled to take place before the Catstanbul event on January 25, which is expected to improve the platform’s decentralized network.
Details of the airdrop:
The airdrop will occur from January 18 to January 24, one week prior to the Catstanbul event. Lochie Jarvis, the founder of Jupiter Exchange, has provided information about the objectives of the airdrop, emphasizing its aim to reward community contributions and encourage active users.
Fifty percent of the total supply of JUP tokens will be allocated to the community, while the remaining fifty percent will be given to the team. The team’s tokens will be subject to a vesting period until 2027. The airdrop will be based on participation derived from trading volume and activity, with users who have a minimum trading volume of $800 eligible to receive 50 JUP tokens.
Impact on the market:
Currently, the JUP token is trading at approximately $0.95, reflecting a 20% increase in the past week. According to DefiLlama reports, the Solana-based project has recorded a trading volume of $3.15 billion in the last 24 hours. The introduction of additional tokens into the market through the airdrop could potentially impact market dynamics.
In addition, Jupiter Exchange plans to burn 30% of its tokens during the Catstanbul event on January 26, 2025. This initiative demonstrates the project’s commitment to building a strong and engaging community.
The January airdrop event aims to attract new users to the platform and enhance the loyalty of existing users. The release of an airdrop tracking tool a few days before the event shows a dedication to fairness and transparency.
The year 2025 is expected to witness significant large-scale airdrop plans across various projects, with Jupiter Exchange’s event anticipated to be one of the most notable crypto airdrops of the year.
This move by Jupiter Exchange is seen as part of a strategy to increase user engagement within the ecosystem and support the value of the tokens. By offering various participation criteria and rewards, the platform aims to stimulate user interest.
