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Crypto News

Jupiter DEX to Airdrop 1 Billion Tokens to Solana Wallets

Author

Jay Solano

Tags

Tags Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice, Slider Posts

Reading time

2 mins
Last update

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Jupiter, a decentralized exchange (DEX) based on the Solana (SOL) blockchain, plans to airdrop 1 billion of its tokens to community members in January, as announced by its pseudonymous founder, Meow.

According to Meow’s statement on social media platform X, 10 billion JUP tokens will be minted, with an equal distribution between the Jupiter team and the community. Of these, 40% of the total supply, amounting to 4 billion tokens, will be allocated for community airdrops across four rounds, with the first round scheduled for January.

To explain the token distribution philosophy, Meow emphasized the importance of balancing the needs and power between the project team and the wider community. The distribution strategy ensures that while the team focuses on recruiting talent, building products, and executing strategy, the community can provide checks, balances, and necessary course corrections. As per Meow, this distribution approach aligns with the project’s ethos, aiming for an equitable balance.

Meow also highlighted Jupiter’s commitment to the Solana ecosystem, stating that the team views itself as part of a broader effort to promote Solana’s growth and adoption. The founder believes that Solana is the ideal blockchain for onboarding the next billion users and that attracting users to Jupiter will drive engagement with other Solana-based applications and services.

According to Meow, Jupiter aims to offer trading products that rival centralized exchanges (CEXes), providing users with compelling reasons to stay within the decentralized ecosystem. The founder anticipates that as the range of on-chain use cases and activities expands, there will be less incentive for users to withdraw their capital from the blockchain.

In the coming weeks, further details about the upcoming airdrop and Jupiter’s liquidity provision plans will be revealed. This airdrop represents a significant step in Jupiter’s efforts to enhance community engagement and bolster the Solana ecosystem’s growth and user base.