Jupiter, the prominent decentralized exchange (DEX) aggregator on the Solana network, announced a retrospective token distribution program to reward its early users.
This program, framed within Jupiter’s community-focused vision, aims to distribute 40% of its total token supply, totaling 10 billion tokens, across four distinct phases.
The first phase of this process involves the distribution of one billion Jupiter tokens to users who have completed a minimum exchange volume of $1,000 on the protocol.
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
Eligibility was determined through a snapshot taken on November 2, including 955,000 wallets.
The free token distribution program includes various reward categories based on the volume of exchanges made by users.
It is important to note that future rounds of the program will focus on rewarding new users.
The official token allocation website for the free distribution program will be available next week, allowing all users to verify the allocated amount and access other relevant details.
Transparency, as proposed by Jupiter, is essential for participants to feel confident and understand the specific details of their rewards in the free distribution.
According to the latest data from CoinMarketCap, Jupiter (JUP) is trading at $0.002243, with a market capitalization of approximately $2.24 million. Its volume for the last 24 hours was approximately $76,000.
It is worth noting that in the last month, it experienced significant growth, increasing its value by over 180%. While it is far from its all-time high of $0.9044, the upswing is a positive sign for enthusiasts.
Jupiter’s Commitment to Solana
Jupiter plays a crucial role as a DEX aggregator on Solana by consolidating liquidity from multiple decentralized exchanges.
This aggregation ensures users always have the opportunity to access the most favorable rates for their token exchanges.
A group of pseudonymous developers created the project in October 2021, and over time, the project has significantly established itself within the Solana ecosystem.
In October, Jupiter’s DEX aggregator recorded an impressive trading volume of nearly $1 billion, highlighting its importance and popularity within the Solana network.
The retrospective free distribution program not only reflects Jupiter’s commitment to its early users but also serves as an incentive to encourage ongoing participation, the adoption of new users, and community engagement.
