KEYTAKEAWAYS
- Jupiter (JUP) leverages Solana's blockchain to offer the best token exchange rates through its Smart Routing System.
- The JUP token is crucial for governance, with a total supply of 10 billion, distributed in phases.
- Jupiter's first airdrop in December 2023 distributes 1 billion JUP, rewarding active users and contributors.
CONTENT
Jupiter is a top DeFi protocol on Solana, known for its liquidity aggregation, token swaps, and innovative features. Discover its governance token JUP, airdrop details, and future prospects.
WHAT IS JUPITER (JUP)?
Jupiter is a liquidity aggregator developed on the Solana blockchain and one of the largest DeFi protocols on Solana. In November 2023 alone, it achieved a trading volume of $3.7 billion.
Initially, Jupiter served as a liquidity aggregator for token swaps, similar to 1inch on Ethereum. Through this protocol, users can trade cryptocurrencies on-chain. Recently, the platform has added GMX-style perpetual contracts.
JUP is the governance token of Jupiter, allowing community members to vote on various aspects of the Jupiter platform.
The total supply of JUP is 10 billion tokens. Out of this, 4 billion JUP tokens, accounting for 40% of the total supply, will be distributed to users. It’s important to note that the 4 billion JUP tokens will not be distributed all at once but will be released in four phases.
The specific token distribution of JUP is as follows:
- 40%: For community growth and airdrops
- 20%: Allocated through token sales
- 40%: Reserved for insiders and strategic reserves
In essence, Jupiter optimizes the platform, supporting dApps that operate securely on both public and private networks. Additionally, it allows users to securely access the blockchain.
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FEATURES OF JUPITER (JUP)
Jupiter provides a user-friendly experience for every user. The basic functionalities on Jupiter include token swaps, cross-chain operations, and liquidity provision. To meet the needs and usability of dApps, the protocol continuously optimizes its features to achieve the best results.
One of Jupiter‘s standout features is its ability to connect all decentralized exchanges (DEXs) and automated market maker (AMM) pools. It offers the best quotes through its exclusive Smart Routing System, which automatically updates new tokens, adds platform transaction fees, and converts them into revenue within the platform. Users can also place any order to facilitate faster swaps.
Leveraging the advantages of the Solana blockchain ecosystem, Jupiter offers various exchange methods for numerous applications, dApps, liquidity sources, and token listings.
To date, Jupiter has partnered with multiple projects, including Raydium, Sabre, Orca, Mercurial, Aldrin, DEXlab, Step Finance, and Cropper. These dApps are mostly leading pool providers on Solana.
$JUP AIRDROP INFORMATION
In early December 2023, Jupiter announced the commencement of the first round of airdrops (10%—1 billion JUP), with the distribution as follows:
(1) 2% of tokens distributed to all wallets.
(2) 7% distributed based on a tiered scoring system, with scores adjusted according to volume.
(3) 1% distributed to community members on Discord and Twitter, as well as developers.
Additionally, the amount of JUP tokens different users can receive varies:
(1) The top 2,000 users by trading volume can receive 100,000 $JUP each.
(2) The next 10,000 users can receive 20,000 $JUP each.
(3) The next 50,000 users can receive 3,000 $JUP each.
(4) The next 150,000 users can receive 1,000 $JUP each.
Jupiter‘s anonymous founder, Meow, stated that they believe this breakdown will provide greater rewards for top users and contributors, while also encouraging others to get involved.
- How to Qualify for the JUP Airdrop
The 955,000 wallets that interacted directly with Jupiter before November 2, 2023, are eligible for the first JUP airdrop, one of the largest airdrops to date.
Specifically, those eligible for the JUP airdrop include:
(1) User wallets that met the trading volume requirements on Jupiter (as of 11/2).
(2) User wallets that interacted with Jupiter, with each wallet eligible to receive approximately 200 tokens.
(3) Members of Jupiter’s Discord, X (formerly Twitter), and developer communities.
If you are not eligible for this JUP airdrop, don’t worry; there will be more airdrops in the future.
For updates on future JUP airdrops, be sure to follow Jupiter’s official X. Remember, airdrop rewards are often activity-related. Therefore, the more you trade and transact on Jupiter, the higher your potential future JUP airdrop allocation could be.
FUTURE OF JUPITER (JUP)
As a leading decentralized finance project, Jupiter plays a crucial role within the Solana blockchain. The protocol helps users find the best token exchange rates through its aggregation platform.
With its impressive past performance, active user base, and increasing adoption rate, Jupiter is well-positioned to capitalize on the growing interest in decentralized finance. This potential allows Jupiter to significantly contribute to the overall Solana ecosystem.
FAQ
- What is Jupiter (JUP)?
The JUP is the native token of the Jupiter project. Jupiter is a decentralized exchange platform based on the Solana blockchain, offering the widest range of token indexing and the optimal routes for any trading pairs.
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