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Quick Take
- Jupiter, a DEX aggregator on Solana, has opened its token airdrop.
Jupiter, a DEX aggregator on Solana
SOL + blockchain, opened up inital claims for its JUP token airdrop, the project announced on X on Friday.
As users started claiming their tokens, some expressed discontent over their allocation on X and Discord, saying they should have received more tokens due to the age of their wallets and how much they used the protocol over the years.
The airdrop is designed to distribute four out of 10 billion of JUP, or 40% of the total supply, in four phases, the project announced in November. The first phase will release one billion Jupiter tokens to users who have done a minimum of $1,000 in swap volume on the protocol by the snapshot date of Nov. 2.
Launch phases
THE SCOOP
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The project’s pseudonymous founder who goes by Meow said on X that the first phase would see 2% of tokens distributed to all wallets, with 7% allocated in a "tiered score based distribution, with score based on adjusted volume." Another 1% would be allocated to community members on Discord and Twitter, and developers.
"We believe this breakdown will reward power users and contributors significantly more, while likely giving everyone else a reason to come back and engage," Meow said.
According to the founder, Jupiter facilitated $35 billion in cumulative trading volume by October, with 80% of that made by 0.2% of all wallets.
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About Author
Anna is a senior policy reporter and assistant editor at The Block. She has a background in political journalism and covered Russian civil society for a range of news outlets in Moscow, including the award-winning newspaper Novaya Gazeta. Before joining The Block, Anna spent the past five years investigating cryptocurrency policies and adoption around the world at CoinDesk. Anna owns bitcoin and a gift NFT of sentimental value.
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