The decentralized exchange based on Solana
$263, Jupiter, is set to distribute 700 million JUP tokens to its community. The project describes this event as “the largest airdrop in history,” which will take place on Wednesday.
Details of the Airdrop
This airdrop is part of Jupiter’s annual “Jupuary” event, which has been planned to continue until 2026 following a governance vote held in December. The distribution is scheduled to begin at 15:30 UTC.
Sustainability Concerns
Initially, there were concerns regarding the sustainability of the increase in token supply. Consequently, changes were made to the airdrop plan, which now includes token audits and a token burn program to be implemented within the next month.
At the time of writing, the JUP token is trading at $0.87, having lost 2% of its value in the last 24 hours. The total value of the airdrop has been estimated at $612 million.
Jupiter’s significant airdrop is capturing the community’s attention. With the implemented regulations, the goal is to keep the token supply under control. This airdrop is seen as a crucial step for the project’s growth and the expansion of its user base.