Jupiter airdrop offers $575M in JUP tokens
Jupiter (CRYPTO:JUP) has unveiled the claiming process for its upcoming Jupuary airdrop, which will distribute tokens valued at approximately $575 million.
Set to commence on January 22, 2025, the airdrop will allow participants a flexible three-month window to claim their JUP tokens.
This approach aims to alleviate potential congestion issues on the Solana network and minimise high gas fees.
“You’ll have 3 months to claim. Don’t rush. Solana may be congested, gas can be expensive,” Jupiter stated.
Users marked as Sybil or bot accounts will have the opportunity to appeal their status after January 27.
To participate, individuals must create a Jupuary profile and claim tokens from each wallet individually.
This airdrop represents Jupiter's second major distribution event, building on the success of last year's initiative, which saw 955,000 wallets share one billion tokens.
The current allocation includes 440 million tokens for active users and 60 million for stakers, with the remainder designated for growth campaigns referred to as “carrots.”
Jupiter's tiered distribution method categorises users based on their activity levels, ensuring that both high-volume traders and casual users are rewarded fairly.
For instance, top-tier expert traders may receive up to 300,000 JUP, while lower-tier participants could get as little as 20 JUP.
Kash Dhanda noted that “the top 10% of Swap Users were responsible for 99% of the total swap volume,” highlighting the engagement of active participants.
Mei, another contributor to the project, emphasised that “the airdrop is just a way to bring people together,” indicating a focus on community building alongside token distribution.
Despite anticipation surrounding the airdrop, the price of JUP has seen a decline of 7.5%, trading at $0.89 prior to the event.
The Jupuary airdrop is scheduled ahead of Jupiter's “Catstanbul” conference in Istanbul on January 25-26, which is expected to further showcase the protocol's developments.
At the time of reporting, the Jupiter (JUP) price was $0.8647.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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