In a thrilling development for the decentralized finance (DeFi) community, Jupiter, a Solana-based decentralized trading aggregator, is set to launch its native token, Jupiter (JUP), via an airdrop on Wednesday, February 1st, at 10:00 AM EST

The token's initial maximum circulating supply will stand at a massive 1.35 billion, revealed by Jupiter's pseudonymous founder Moew in a recent forum post.

What You Need to Know About the Solana JUP Token

This astonishing figure represents a substantial decrease from the previously decided total number of coins available for trading, which stood at 1.7 billion. With the token's potential market capitalization sitting around $700 million, based on current USD-perpetual trading volumes on Aevo, the anticipation is palpable.

To provide some context, 1 billion of the initial circulating supply will be distributed through a series of airdrops, 50 million each for loans to market makers on centralized exchanges and liquidity pool needs, while 250 million will be reserved for a launch pool. The remaining 50 million coins will be held in reserve by the Jupiter team.

Eligible

While the exact details of the airdrop are still forthcoming, 955,000 wallets that interacted with Jupiter before November 2nd are eligible to receive JUP tokens, according to data source Airdrop Official. This is an impressive milestone, showcasing the growing adoption and popularity of the platform.

Jupiter, a Solana-based decentralized trading aggregator, has been making waves in the cryptocurrency space with its cutting-edge technology and innovative features. By leveraging the power of Solana's fast and scalable blockchain, Jupiter aims to provide users with an unparalleled trading experience, complete with features like real-time market data, customizable charting tools, and seamless order execution.

To the Moon?

As the popularity of DeFi continues to soar, Jupiter's Jup token is poised to become a leading player in this rapidly growing market. With its impressive circulating supply, innovative airdrop mechanics, and cutting-edge Solana-based technology, Jupiter is well-positioned to capture a substantial share of the DeFi market.

The debut of Jupiter's Jup token on February 1st, 2024, promises to be a significant event in the cryptocurrency space.

With its enormous circulating supply, innovative airdrop mechanics, and cutting-edge Solana-based technology, Jupiter is poised to become a leading player in the rapidly growing DeFi market.

References:

Godbole, O. (2024, January 31). Solana DEX Jupiter’s JUP Token to Debut With 1.35B Circulating Supply. Retrieved from https://www.coindesk.com/markets/2024/01/31/solana-dex-jupiters-jup-token-to-debut-with-135b-circulating-supply/

Hayward, A. (2024, January 30). Jupiter Airdrop: What You Need to Know About the Solana JUP Token Launch. Retrieved from https://decrypt.co/214841/jupiter-airdrop-what-you-need-know-about-solana-jup-token-launch

Everything you need to know about the Jupiter airdrop tomorrow in one page. (via Messari Intel). (2024, January 31). Retrieved January 31, 2024, from https://x.com/twobitidiot/status/1752394311960834314?s=20

IT’S TIME FOR JUP! (2024, January 30). Retrieved January 31, 2024, from https://x.com/weremeow/status/1752355081499132228?s=20

JUP: The Genesis Post. (2024, January 30). Retrieved from https://www.jupresear.ch/t/jup-the-genesis-post/478

Learn, B. (2024, January 29). Jupiter (JUP): Redefining DeFi With Solana’s Efficiency. Retrieved from https://learn.bybit.com/defi/what-is-jupiter-jup/

elegant_solution. (n.d.). Retrieved January 13, 2024, from https://www.freepik.com/author/user28432665

Freepik - Goodstudiominsk. (n.d.). Retrieved January 5, 2024, from https://www.freepik.com/author/goodstudiominsk

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