Solana decentralized exchange (DEX) aggregator Jupiter is set to launch its JUP token airdrop on Wednesday, January 31.
Nearly a million Solana wallets are eligible, and the token launch will likely be the largest in 2024.
Are you ready?
The long run-up means that Jupiter has already launched an airdrop checker tool and provided ample guidance on what to expect, but it’s been in dribs and drabs since late last year. If you haven’t followed the action, here’s everything you need to know.
When Is The JUP Claim?
Jupiter will launch the airdrop claim at 10 a.m. ET on Wednesday, January 31 via its own launchpad, which was just used to launch the WEN token on Solana.
Who Gets JUP?
According to Jupiter, about 955,000 wallets are eligible for the JUP airdrop, which includes early users who interacted with the protocol ahead of a November 2 snapshot.
As mentioned, Jupiter launched a tool to see whether you’re eligible, and if so, how many tokens you’ll get.
In a previous tweet, Jupiter said that 20% of the initial airdrop tokens will be evenly distributed across all wallets, while another 70% will be distributed between users based on a “score-based distribution” dependent on protocol use.
The final 10% will go to community members and developers.
Further airdrops are planned in the future for new users, though there’s no precise timeline yet on when to expect those drops or how lucrative they’ll be for more recent users.
How Many JUP Tokens Are There?
Overall, there are 10 billion JUP tokens being minted. Half of those tokens are set to go out to the community over the course of multiple airdrops and other initiatives.
Ultimately, 4 billion JUP will be handed out across four airdrop waves, with 1 billion JUP set for Wednesday’s initial token claim.
Another 1 billion JUP will eventually be allocated for community contributors and grants, though the timing of those initiatives has yet to be determined.
Half of the overall JUP supply will be used for team and token needs, including a liquidity pool. The Jupiter team will not earn any tokens until January 2025, when a two-year vesting cycle begins.
According to a Tuesday post from the team, a total of 1.35 billion JUP will be circulating as of day one, with 1 billion JUP for the airdrop claim, 250 million JUP for a launch pool, and 50 million JUP each for “loans to centralized exchange market makers” and “any immediate liquidity pool needs.”
This is down from the 1.7 billion JUP that was originally planned for immediate circulation and previously stated.