Jupiter is set to kick off a major token distribution in January, featuring a massive airdrop of 700 million JUP for its users.
In Brief
In addition to the upcoming \"Jupuary\" event in January, Jupiter has outlined the distribution specifics for the 700 million JUP tokens intended for its users.
A decentralized exchange (DEX) aggregator is preparing to launch its exciting new initiative. Jupiter The details for the anticipated \"Jupuary\" JUP token distribution have been shared, with the event scheduled for January. According to the notice, 700 million JUP tokens will be distributed amongst the users.
Of the total supply, 500 million JUP tokens are earmarked for users, divided into 425 million allocated for general users and 75 million specifically for stakers. Furthermore, an additional 200 million JUP tokens will be split between two categories: \"carrots,\" who will earn between 50 and 200 JUP each, and \"good cats,\" whose allocations will vary based on application submissions.
To qualify for the distribution, users must engage with Jupiter's offerings while meeting specific minimum activity benchmarks. For swap interactions, participants need a baseline swap volume of 1,000 JUP, which corresponds to around 2 million wallets among a total of 10 million. Additionally, expert traders utilizing perpetual contracts, limit orders (LO), and dollar-cost averaging (DCA) strategies must also meet the activity thresholds, with an estimated 320,000 wallets out of 650,000 qualifying.
The token distribution strategy incorporates five tiers for swap users, with the required volume for each tier gradually increasing from the previous \"Jupuary\" event due to a surge in both trading volume and wallets participating. For instance, those achieving 14 million in volume will be rewarded with 20,000 JUP per wallet, while others reaching 3 million will get 10,000 JUP. Users with a volume of 500,000 can expect to receive 3,000 JUP, with smaller amounts of 250 JUP for 29,000 in trading and 50 JUP for those with a mere 800 in volume. In addition, expert traders who hit the minimum threshold will receive further allocations based on their trading activity.
Stakers and participants within the Jupiter DAO are categorized into two divisions. All stakers are set to receive rewards, while those who also participate in voting will get an added bonus. The total staked wallets eligible for distribution is capped at 650,000, with participants earning 0.1 JUP for each JUP staked. Additionally, super voters, comprising about 66,000 eligible wallets, will be rewarded with 0.3 JUP for every 1 JUP they stake.
Jupiter has also detailed its plans for the \"carrots\" category, where users can earn between 50 and 200 JUP per wallet through staking and claiming via the JUP Mobile app. Ongoing incentives are in place for long-term community members, while \"good cats\" will soon have the opportunity to apply for their share in January.
What Are Jupiter And JUP?
Jupiter This DEX liquidity aggregator operates within the blockchain landscape, providing a viable alternative to centralized exchanges (CEXs). Since its inception in 2021 by developer Meow, it has been aggregating liquidity from an array of DEXs and automated market makers (AMMs) like Raydium, Serum, Orca, Saber, Penguin, Mercurial, and Supernova. This liquidity pooling enables users to secure the best token swap rates, akin to the services offered by 1Inch on Ethereum. Solana The Ethereum-based token plays a crucial role in a project dedicated to making blockchain technology more user-friendly and secure. It also functions as the governance token for the associated decentralized autonomous organization (DAO), empowering holders to engage in significant ecosystem decisions and initiatives.
JUP The tokenomics model for JUP establishes a total supply limit of 10 billion tokens. Out of this total, half is reserved for community distribution through airdrops and various initiatives aimed at user engagement. The remaining half is allocated for the project's team and operational needs, with the team’s share subject to a vesting schedule.
This decentralized exchange aggregator offers advantages that should be taken into account.
Disclaimer
In line with the Trust Project guidelines Alisa, a committed journalist at Cryptocurrencylistings, has a knack for cryptocurrency, zero-knowledge proofs, investment strategies, and the broad landscape of Web3. With a focus on emerging trends and technologies, she provides thorough insights to keep readers well-informed and engaged in the ever-evolving digital finance sector.