Market recovery in the late days of 2023 serves as a significant catalyst for various projects to launch their tokens and engage in airdrops to attract users.
Recently, at the Solana Breakpoint event, Jupiter Exchange, a cryptocurrency exchange platform, announced its plans to launch its project’s token and distribute it through an airdrop to the community.
Preliminary information suggests that JUP will function as a governance token and will be allocated as follows:
- 40% for the community (with 4 rounds of Airdrop)
- 20% for Token Sales (to be locked)
- 40% reserved for the project team
Notably, in the first airdrop phase, 955,000 early supporters of the project will receive tokens.
Currently, the specific launch date of the token and the timing of the airdrop have not been disclosed. The project team has stated that they will take the next two weeks to gather community feedback before announcing specific dates.
It’s worth mentioning that Jupiter is a comprehensive liquidity platform built within the Solana ecosystem, offering features such as swapping, limit orders, and dollar-cost averaging (DCA). In the last 24 hours, Jupiter has recorded a trading volume of up to $71.8 million on its platform.
“Jupiter has been a leading DEX on Solana for quite some time. Following the demise of Serum due to FTX’s downfall, Jupiter stepped in to fill that gap and bring new opportunities to the Solana DeFi ecosystem.”
Spencer Hughes, an analyst at Blockworks Research