Jupiter Airdrop $JUP Scheduled Before January Ends

Republished By Plato

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Meow, a pseudonymous name that founded and developed Jupiter, announced their plans for the upcoming Jupuary, which includes the launch of the Solana-based decentralized exchange’s native token, $JUP.

(Also read: Solana Airdrop Checker Tool Guide To Check If Your Wallet is Eligible and BONKbot Telegram Bot Guide: Fastest Way to Buy and Sell Solana Coins)

Jupiter Exchange Kicks Off Jupuary

According to the founder’s Twitter post, their team seeks to focus on learning with launching a token that is needed for the DEX’s airdrops, team funding needs, and creating the Jupiter ecosystem.

“The month of Jupuary will be a month of learning. We will learn how to launch JUP together as a community, learn how to improve the infra for high stress events, and be a great defi education opportunity for everyone,” the post read.

Basically, for the whole month of January, Jupiter is expected to launch test parties, do explainers, share scaling plans, and host a series of discussions until the month ends.

“In Jupuary, we will have the following key areas of work leading up to the claim and launch. 1. Overcommunicating Jupiter; 2. Preparing infra, pools, site, minting, venues; 3. Ensuring no cats left behind. Given the extensive amount of work, we expect launch day to be in the 4th week of Jupuary. Let’s work on it together,” Meow added.

The Jupiter Airdrop: 40% of Total $JUP for the Community

Moreover, the team also targets to have a launch site where users can claim the airdrop tokens and sell them directly:

“We want this site to be useful way ahead of time AND later for experts, new users, and n00bs alike. As such, we will be sharing this page a couple of weeks ahead of time, organising several launch parties to test it together, and I will do a youtube live thing as well.”

In its whitepaper, the DEX has set a maximum of 10 billion $JUP to be minted. These tokens will be equally split into two cold wallets—the team wallet and the community wallet.

Out of the five billion $JUP allocated for the community wallet, four billion are set for a series of airdrops. And for Jupuary, 15% will be withdrawn for the first airdrop.

“At Jupiter, we love love love meme coins, and I want to meme the shit out of everything, but we want to also be as detailed as possible about our product roadmap, ethos, and community goals, so that anyone choosing to get involved does so with full knowledge. Both are important,” the founder wrote.

In our recent guide about Jupiter Exchange’s airdrop, it is emphasized that the DEX’s airdrop will be a series of four rounds. Some rounds require you to swap at least $1,000 worth of tokens, while there will be rounds that will reward those with the highest volume of traded crypto.

The Effect: Will Jupiter Airdrop Raise Activity in Solana?

Before 2023 ended, data on the TVL aggregator for DeFi DefiLlama showed that DEXs built on Solana Network experienced a surge in liquidity from November and December.

Allegedly, the rise in trading volume of these DEXs is highly influenced by the recent airdrops hosted by Solana DeFi protocols Pyth and Jito, according to the online crypto website Blockworks.

“The DEX revival came on the heels of sizable token airdrops from Solana DeFi protocols Pyth and Jito. Some liken airdrops to DeFi network stimulus checks, but this framing depends on who is actually on the receiving end of the free tokens,” Blockworks’ Jack Kubinec wrote.

However, the surge in DEX trading volume is expected to continue as Jupiter Exchange’s airdrop is going to be massive, according to Kubinec.

This article is published on BitPinas: Jupiter Airdrop Scheduled Before January Ends

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