Jupiter, a decentralized exchange (DEX) aggregator built on the Solana (SOL) blockchain, has initiated the process for claiming its JUP token airdrop.
The airdrop is structured to distribute 40% of the total JUP token supply, equivalent to four billion tokens out of the total 10 billion.
The distribution plan unfolds in four phases, as outlined in a November announcement by the project.
During the initial phase, one billion Jupiter tokens will be released to users who have executed a minimum of $1,000 in swap volume on the protocol by the snapshot date of November 2.
Meow, the pseudonymous founder of the project, provided insights into the allocation process on X. In this initial phase, 2% of the tokens will be evenly distributed to all wallets, while 7% will be assigned through a “tiered score based distribution,” factoring in adjusted volume. An additional 1% will be designated for community members on platforms such as Discord and Twitter, as well as developers.
Meow believes this breakdown will disproportionately reward power users and contributors, offering an incentive for broader engagement with the platform.
As of October, Jupiter has facilitated a cumulative trading volume of $35 billion, with 80% of that volume generated by just 0.2% of all wallets.
Despite these efforts, some users have voiced dissatisfaction with their allocations, arguing that factors like the longevity of their wallets and their historical engagement with the protocol should have warranted a larger share.
One Twitter user highlighted their extensive use of JUP in 2021 and 2022, expressing discontent with the allocation in 2023.
For users to determine their eligibility for the airdrop and review their allocations, the Jupiter project advises following the instructions provided.
