Jupiter has unveiled plans for a significant airdrop event in January.
Jupiter has unveiled plans for a significant airdrop event in January. The event, known as “Jupuary,” will distribute 700 million JUP tokens, valued at approximately $580 million, to various stakeholders, including users, stakers, and community contributors.
The distribution will be based on a snapshot already taken. Although the final eligibility criteria are still under discussion, preliminary drafts suggest that users will be rewarded based on their trading volume over the past year.
For instance, users with an annual trading volume of at least $800 are expected to receive a minimum of 50 tokens, while those with $29,000 in trading volume could qualify for 250 tokens. Approximately 2.3 million wallets are anticipated to be eligible for this airdrop.
This initiative follows a previous airdrop in November 2023, during which nearly 1 billion JUP tokens were allocated to users who executed a minimum of $1,000 in swap volume on the platform before the snapshot.
Currently, the circulating supply of JUP tokens is 1.35 billion, with a maximum supply initially set at 10 billion. However, Jupiter's community has approved a reduction of the maximum supply to 7 billion tokens, which will involve burning over 3 billion tokens.
Launched in October 2021, Jupiter aggregates liquidity from multiple decentralized exchanges, providing users with competitive rates for token swaps.
The platform has recently recorded a 24-hour trading volume exceeding $2.3 billion, highlighting its active user engagement.
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