Solana-based decentralized finance (DeFi) aggregator Jupiter commenced its much-anticipated airdrop on Friday—and revealed to users how many of the 4 billion total JUP tokens up for grabs that they can expect to receive.
A portal on Jupiter’s website is now live for the platform’s users to connect their wallets and check how much JUP they reaped. It’s not yet clear when the actual claim process will begin.
All Jupiter users will receive 200 JUP regardless of their trading history, according to the company. Those “OGs” who held at least $10 on the platform or made at least 10 transactions prior to March 2022 will receive an additional 500 JUP. From there, the bulk of a user’s JUP allocation was determined by factors including their trading volume on Jupiter and the consistency of their use of the site.
Jupiter users and Solana enthusiasts were quick to celebrate news of the airdrop’s launch, with some Twitter users reporting substantial JUP hauls above 100,000. How much that is actually worth, however, will remain unknown until the token actually drops and starts trading.
Jupiter is one of the largest DeFi projects built on Solana. As a swap aggregator, the platform advises users on the best rates when trading tokens. It has processed about $106 million worth of transactions in the last 24 hours alone, according to CoinGecko.
Airdrops like today’s are common practice among crypto projects and platforms, which hand out free tokens in an effort to reward early contributors and users and create decentralized governance through token-based voting.
Edited by Andrew Hayward