DEX Jupiter (JUP) Begins Distributing Airdrops to Users

After a month since launching the token and “hinting” rewards to the community, Jupiter officially opened the airdrop testing portal on December 1.

🪂https://t.co/PANVebIk0I

— Jupiter 🪐 (@JupiterExchange) December 1, 2023

According to the announcement, Jupiter will spend a total of 10 billion JUP, equivalent to 40% of the total token supply, as rewards for users through airdrop/retroactive over 4 different stages.

In the first phase, Jupiter released 1 billion JUP to 955,000 wallets that participated in a minimum transaction of 1,000 USD on the DEX before the snapshot on November 2, 2023. The founder of Jupiter Exchange shared the following allocation plan:

2% tokens for all qualified wallets;
7% based on user’s cumulative volume;
The remaining 15% goes to Jupiter’s Discord and Twitter community members.

Grow The Pie Update #1: Community Airdrop

Hey Jups, here’s the breakdown for the first round of the community airdrop, along with a detailed rationale about how we arrived at it.

Warning: This is a long post for patient geeks only. If you are only interested in knowing your… pic.twitter.com/zafGQbmmvC

— meow 🥧 (@weremeow) November 15, 2023

Information about the airdrop has created two waves of opinion in the crypto market. Some feel surprised and happy with this number of airdrops “falling from the sky”, because there has been no outstanding activity on the Solana ecosystem for a long time.

However, some others expressed dissatisfaction, saying that the effort they put in was not worth what they received. They expect to be allocated more tokens based on the wallet’s age and transaction history over the years.

was there an issue?

— Jupiter 🪐 (@JupiterExchange) December 1, 2023

Jupiter is a liquidity aggregation platform developed on the Solana ecosystem with popular features such as Swap, Limit Order and DCA. By October 2023, Jupiter had processed 35 billion USD in transaction volume, of which 80% of the volume came from 0.2% of the total wallets interacting with the exchange.

The end of the year is a busy time in the crypto market, and the community is especially eagerly awaiting airdrop announcements from projects, with Jupiter being one of them. Previously, we have witnessed many successful token issuances and airdrops from projects such as Celestia (TIA) and Pyth Network (PYTH).