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Decentralized Exchange Jupiter (JUP) to airdrop four billion-tokens in 2024

Decentralized Exchange Jupiter (JUP) to airdrop four billion-tokens in 2024

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TL;DR

  • Solana-based DEX, Jupiter, plans a billion-token JUP airdrop in 2024, with 50% going to the community and 50% to the project team.
  • Meow, one of Jupiter’s founders, emphasizes a community-centric approach, reflecting a commitment to decentralized governance and growth.
  • The token distribution strategy includes rounds of airdrops, liquidity provision, and incentives for community contributors, showcasing Jupiter’s dedication to fostering a balanced and inclusive ecosystem.

The Solana-based decentralized exchange (DEX), Jupiter, is set to airdrop a billion of its native JUP tokens early next year. The announcement, made by the project’s founder known as Meow, reveals a comprehensive plan to distribute a total of 10 billion JUP tokens, emphasizing a 50-50 split between the community and the Jupiter team.

Community-centric tokenomics for sustainable growth

Jupiter’s tokenomics reflects a commitment to a balanced ecosystem, allocating 50% of the JUP tokens to the community and 50% to the project team. Meow, in a post on the social media platform X, explained that this distribution model aims to establish harmony by ensuring the community acts as a counterweight and fact-checker to the team’s decisions. Notably, the absence of a traditional token sale redirects 20% of the tokens towards liquidity provision and community contributors, reinforcing Jupiter’s focus on community-driven growth and decentralized governance.

Meow also outlined a long-term strategy centered around leveraging the decentralized meta within the Solana ecosystem. The plan involves fostering a secure, independent team capable of making strategic decisions for the platform’s future. The ethos revolves around growing the decentralized meta, building a robust team, and supporting the broader Solana and crypto ecosystem.

Token distribution strategy unveiled

The token distribution strategy for the team-managed portion involves dedicating 10% to liquidity in the first year, with an additional 20% allocated to the current team vesting over a two-year period. The remaining 20% serves as a strategic reserve for future team members, strategic investors, and past Mercurial stakeholders. On the community front, 40% of the tokens are earmarked for distribution over four rounds of airdrops, promoting inclusivity and broad community participation.

Meow emphasized that an additional 10% is set aside for community contributors and grants, likely to be managed by a Decentralized Autonomous Organization (DAO). This allocation aims to incentivize community participation in Jupiter’s growth and the broader Solana ecosystem.

Jupiter’s path forward

As Jupiter positions itself as a liquidity aggregator on the Solana blockchain, the upcoming billion-token airdrop marks a pivotal moment for the project. With a clear commitment to community engagement, decentralized governance, and strategic growth, Jupiter aims to play a significant role in driving the decentralized meta forward within the Solana and crypto ecosystem. Stay tuned for more details on the airdrop and JUP liquidity provision, set to be unveiled in the coming weeks.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com 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.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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