Solana-based Jupiter confirms token release date

On the 31st of January, 2024, Solana Decentralised Exchange aggregator, Jupiter, would launch its governance token, $JUP. This launch includes an airdrop that will be distributed to over one million wallets during the initial phase.

Meow, the project’s pseudonymous founder, stated that the project is ready to undertake a test launch using test tokens called mockJUP. Furthermore, there are plans for a memecoin launch scheduled for the upcoming week, which will be executed by a trusted third party. In order to establish a strong foundation, the initiative is primarily focused on realizing its “DAO vision.” This approach aims to set the stage for future growth and success.

Jupiter initially announced its plans to distribute airdrops late last year, intending to reward its early users. However, the airdrop distribution was not made public until December 1st.

They have planned to distribute up to forty percent (40%) of the total supply, which accounts for ten billion tokens, to their users in four phases. This distribution will amount to a total of four billion tokens. During the initial phase, approximately 955,000 eligible users will receive one-fourth of the airdrop allocation.

To qualify for the airdrop, these individuals must have conducted a minimum of $1,000 in swap volume on the protocol by November 2nd, which served as the snapshot date. The distribution of the airdrop will be divided into tiers based on the volume of swaps.

Jupiter boasts of being the largest decentralized exchange on the Solana blockchain having a trade volume of over $16 billion in swap in December alone which was a whooping sixteen times its volume in October which saw a generated trade volume of $1 billion.

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