Decentralized trading aggregator Jupiter plans to airdrop its JUP token toward the end of January, Jupiter pseudonymous founder said.
Since early December, meme coins, the Jito airdrop and SOL’s own booming price have contributed to a surge in decentralized finance (DeFi) activity on the Solana blockchain.
The JUP token airdrop may test the longevity of the altcoin frenzy.
See Also: Nest Wallet Co-founder, Bill Lou, Lost $125,000 Worth Of Coins To Fake Airdrop Scam
In a post on X, the pseudonymous founder of the Solana-based protocol, Meow, said the protocol was “not optimizing for hype or price of perfect price discovery.” Rather, the airdrop would be an experiment in conducting a major token distribution – a “high stress event” – while “ensuring no cats left behind.”
Jupuary Kickoff: Let's launch JUP together!
Long essay ahead, no TLDR. If you can trade you can read*
The month of Jupuary will be a month of learning. We will learn how to launch JUP together as a community, learn how to improve the infra for high stress events, and be a great… pic.twitter.com/fGYEmz8Yvb
— meow 喵 (@weremeow) January 2, 2024
Nearly 1 million Solana wallets have qualified for a slice of the unusually large airdrop: 40% of JUP’s total supply, a size that reflects Jupiter’s popularity with traders.
The program routes token buy and sell orders through a litany of other on-chain trading venues to find the best price.
The distribution will be a stress test for JUP trading infrastructure as well as the Solana network itself, Meow said.
See Also: Jupiter Airdrop (JUP) Distribution Set For January, Solana DeFi Users Get Ready
Be watchful when trying to get token airdrop online, Nest Wallet co-founder, Bill Lou, just lost $125,000 worth of coins to fake airdrop scam.
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Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.