Jupiter plans an airdrop in Solana: Nearly one million wallets qualified for up to 700 JUP tokens

This is the first of four scheduled airdrops, totaling one billion Jupiter tokens. We provide the most crucial details on the Jupiter Airdrop.

Prasanna Peshkar

Prasanna Peshkar

February 1, 2024 4:55 AM

Jupiter plans an airdrop in Solana: Nearly one million wallets qualified for up to 700 JUP tokens

The long-awaited Airdrop of Jupiter, Solana’s largest decentralized stock exchange (DEX), started on January 31st. Almost one million wallets have qualified for this airdrop based on their interactions with Jupiter until November 2, 2023. The prizes begin at 200 JUP, with customers who have a minimum of 10 USD on the site or complete ten transactions before March 2023 getting an extra 500 JUP. This is the first of four scheduled airdrops, totaling one billion Jupiter tokens. We provide the most crucial details on the Jupiter Airdrop.

WEN-Airdrop of Jupiter 

In parallel, the Jupiter team issued the WEN-Airdrop, a token that has become a joke in the cryptocurrency world. To qualify for this Airdrop, you simply need to have made a five-dollar transaction on Jupiter. Users who registerd by January 29th at 4 p.m. were eligible to get 640,000 WEN tokens valued around $112. In addition, owners of specific NFTs were eligible for this Airdrop.

Altlayer Airdrop for OwnLayer-Staker

Another Airdrop, the Altlayer Airdrop, focuses exclusively on own layer stripes. The snapshot for this Airdrop was issued on January 17, 2024, and the awards are meant for owners of specific NFTs, product testers, own lay restakers, and celecstia stripes. This Airdrop is one of numerous to be released in the future, and it meets the community’s expectations.

Jupiter airdrop: The JUP token handbook

Guess what? Airdrop season is upon us, and the Solana DEX aggregator is about to unleash a massive airdrop. They’ve got a whopping 10 billion tokens up for grabs, and a generous 40% of that is heading straight to the community. The first round is dropping 1.35 billion tokens to nearly a million folks.

Now, the burning question – will your wallet be one of the lucky ones?

Don’t worry; we’ve got you covered in this guide. We’ll spill all the details about the Jupiter $JUP airdrop, so you can catch the airdrop wave. Get ready to ride the airdrop excitement! 

What is the function of Jupiter?

Jupiter is making waves in the DeFi world on Solana, boasting one of the highest transaction volumes in November 2023. To put things in perspective, it surpassed the transaction volumes of Uniswap and 1inch during the same period.

Initially, Jupiter kicked off as a liquidity aggregator for token swaps, akin to 1inch on Ethereum. However, it’s not just stopping there. Recently, the platform expanded its offerings to include GMX-style perpetual futures. And the future looks promising, with Jupiter planning to roll out a decentralized stablecoin—something to keep an eye on.

The rationale behind this move? Well, Jupiter argues that traditional stablecoins, like USDC and USDT, come with a baggage of custodial and regulatory risks that are best avoided. This conviction has driven the team to introduce SUSD—a fully-decentralized stablecoin backed by Solana liquid staking tokens (LSTs). 

What sets SUSD apart? It brings a higher degree of decentralization and throws in a unique perk – interest-free loans. When you use SOL as collateral to mint SUSD, the SOL earns yield, covering the minting cost and resulting in a perpetually interest-free loan with exposure to SOL. It’s innovation meets practicality in the world of DeFi. 

What does the JUP token represent?

Think of JUP as the community’s secret sauce in the world of Jupiter. It’s not just a token; it’s the key that lets regular folks like you and me have a real say in how things roll out.

With JUP in hand, you become a decision-maker:

Approve: Ever wondered about liquidity and emission plans? Well, with JUP, you get to have your say on when those plans kick in. It’s like having a voice in the room where the big decisions are made.

Sanction: When it comes to creating more tokens after the initial batch, JUP holders give the nod. It’s a check and balance system, ensuring that the community has eyes on any new tokens coming into the picture.

Vote: Picking projects for the Jupiter ecosystem? That’s in your hands too. JUP holders get to vote on which initiatives get the green light, making sure it aligns with what the community wants.

So, JUP isn’t just a fancy crypto term; it’s your ticket to being part of the decision-making squad in the Jupiter community. 

Impact on the Community and the Market

These airdrops not only reward the community’s dedication and commitment, but also encourage acceptance and use of the platforms. They are meant to encourage more extensive contact between users and their ecosystems, as well as to provide incentives for active participation in the cryptocurrency field.

Click here for the active Jupiter Airdrop of Solana:

Prasanna Peshkar
Article By

Prasanna Peshkar

Prasanna Peshkar is a seasoned writer and analyst specializing in cryptocurrency and blockchain technology. With a focus on delivering insightful commentary and analysis, Prasanna serves as a writer and analyst at CryptoTicker, assisting readers in navigating the complexities of the cryptocurrency market.

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