Jupiter, the largest decentralized exchange aggregator on Solana, is planning to broaden its token distribution with an airdrop event dubbed “Jupuary.”
Jupiter intends to distribute 700 million tokens — worth $580 million — to users, stakers and contributors in January based on a snapshot already taken.
The Jupiter team is still finalizing the specific criteria for the airdrop, and there is ongoing discussion within the community regarding the eligibility guidelines.
Jupiter’s latest distribution strategy is segmented into two primary groups: “users and stakers” and prominent community supporters called “Carrots and Good Cats.” The distribution structure aims to incentivize existing and new users, further expanding the JUP community, the Jupiter DAO noted.
A draft eligibility criteria considers the trading volume across all Jupiter products from the past year. According to this draft proposal, users with a minimum annual volume of $800 would receive at least 50 tokens, while those with $29,000 would receive 250 tokens, among other allocations.
Last year, it airdropped nearly 1 billion JUP tokens to users who had executed at least $1,000 in swap volume on the platform before the snapshot in November 2023.
The token’s circulating supply currently stands at 1.35 billion tokens, with a maximum supply of 10 billion tokens. Jupiter plans to reduce the maximum supply from 10 billion to 7 billion tokens. This reduction involves burning over 3 billion tokens — a move approved by the community in August 2024.
Launched in October 2021 by the pseudonymous “Meow,” Jupiter aggregates liquidity from various DEXs on Solana — ensuring users find favorable rates for token swaps. It also offers a perpetuals trading product.
The aggregator platform recorded a 24-hour trading volume of over $2.3 billion over the past 24 hours.
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