Jupiter, Solana’s leading decentralized exchange (DEX), has officially announced the long-awaited Jupuary airdrop, making over 2 million wallets eligible to claim 700 million JUP tokens worth approximately $500 million. Eligible users have three months to claim their allocations.
Who is eligible for Jupuary airdrop?
Airdrops are divided into three categories:
- Swap icons: The largest share of 425 million JUP tokens is allocated to active traders.
- Contractors: Users who deposited their tokens will receive 75 million JUP.
- Participants and contributors to governance: Community members participating in Jupiter’s rule receive the remaining tokens.
After the launch of Airdrop, the price of JUP increased decreased More than 8%, as many recipients liquidated their holdings via various exchanges. Meanwhile, JUP’s trading volume rose more than 100%, according to CoinMarketCap data.
However, some users reported difficulties in claiming their codes due to high demand. Jupiter acknowledged the issue, citing slow processing due to Web 2 infrastructure limitations, but assured users that all claims are being processed.
Jupiter continues to dominate the Solana DEX market, recording a trading volume of over $870 million in the past month. The JUP token was initially launched amid the Solana memecoin craze, peaking at $1.75 but has since declined. In a bullish development, JUP has been added to Grayscale’s list of potential investment assets for 2024, indicating institutional interest.
Jupuary marks one of the largest airdrops in recent months, further cementing the growing trend of cryptocurrency airdrops. Throughout 2024, projects increasingly used airdrops to boost community engagement and onboard users.
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