Jupiter, a decentralized exchange (DEX) aggregator operating on the Solana (SOL) blockchain, has initiated initial requests for its JUP token airdrop.
The airdrop aims to distribute 40% of the total supply of 10 billion JUP tokens in four phases. In the first phase, one billion Jupiter altcoins will be distributed to users who have at least $1,000 of swap volume on the protocol by the snapshot day on November 2.
However, some users expressed their dissatisfaction with the distribution made to them on various platforms, arguing that they should have received more tokens due to the age of their wallets and their heavy use of the protocol over the years.
The founder of the project, known by the pseudonym Meow, announced that in the first phase, 2% of the tokens will be distributed to all wallets, while 7% will be allocated “with a graduated score-based distribution, with adjusted volume-based points.” An additional 1% will be allocated to developers as well as community members on Discord and Twitter.
“We believe this distribution will reward power users and contributors significantly more, and likely give everyone else a reason to return and engage,” Meow said.
As of October, Jupiter facilitated $35 billion in cumulative transaction volume, with 80% of that volume generated by just 0.2% of all wallets.
*This is not investment advice.
