TL;DR
- Jupiter DEX aggregator launches a new active staking rewards campaign, distributing 50 million JUP and 7.5 million CLOUD tokens to boost community engagement and participation.
- Balancing token supply and demand, the ASR program aims to maintain JUP token stability, preventing price spirals and ensuring long-term value.
- Significant growth on Solana, with Jupiter becoming the fourth-largest app, handling $1.2 billion in daily trades and introducing new tools like ApePro and Metropolis API to enhance user experience and developer support.
The Jupiter DEX aggregator is making waves in the cryptocurrency world with its latest campaign aimed at boosting community engagement and rewarding active participants. This initiative comes as part of Jupiter’s ongoing efforts to enhance its ecosystem and solidify its position within the Solana network.
Active Staking Rewards are now live!
This time, 50M JUP and 7.5M CLOUD will be distributed to active voters. When claiming, your JUP will be added to your stakes, and CLOUD claimed to your wallets.
Claim now: https://t.co/YLB7SHro08.
Claiming period will be open till 31st… pic.twitter.com/55AVhdTiVU— Jupiter 🪐 (@JupiterExchange) October 21, 2024
Active Staking Rewards and Community Voting
Jupiter has announced the launch of a new round of active staking rewards (ASR), distributing 50 million JUP and 7.5 million CLOUD tokens.
This campaign is designed to encourage community members to participate in voting and other activities, rather than merely holding tokens. The current claims window extends until December 31, covering previous community votes and incentivizing both organic and active participation.
Balancing Token Supply and Demand
The ASR program aims to strike a balance between releasing new tokens and maintaining a stable token supply. Rewards will be added to existing user stakes and can be released after a 15-day cooldown period. This approach is intended to prevent a downward price spiral and ensure the long-term stability of the JUP token, which currently trades around $0.95.
Growth and Influence on Solana
Jupiter has grown significantly, becoming the fourth-largest app on Solana with $1.41 billion in reported value locked. The platform’s activity has mirrored the growth of Raydium, another major player on Solana, which saw a 73% increase in value locked over the past month.
Jupiter handles approximately $1.2 billion in daily trades, contributing to Solana’s $2.5 billion daily DEX trading volumes. Looking ahead, Jupiter plans to continue expanding its influence by addressing key issues on Solana, such as slippage and transaction optimization.
At the time of writing, Jupiter’s native token, JUP is trading at $0.9924, increasing nearly 4% in the last 24 hours, suggesting the market had a positive reaction to the announcement.
The platform offers a range of trading tools, including spot and perpetual futures trading, and has introduced ApePro, a professional meme coin trading terminal. Additionally, Jupiter supports developers with the Metropolis API and the LPG launchpad for fair token distribution.
As Jupiter continues to innovate and grow, it remains committed to engaging its community and driving mass adoption of its platform. The new ASR campaign is a testament to Jupiter’s dedication to creating a vibrant and active ecosystem on Solana.
