Solana-based DeFi aggregator Jupiter announced that it will start airdropping JUP tokens in January. In a tweet, Jupiter’s pseudonymous founder, Meow, gave a series of updates regarding the project’s future plans and the details of the upcoming airdrop.
As previously established, 50% of the 10 billion JUP tokens will be distributed to the community. Out of that, 40% of the tokens to be minted will be reserved for airdrops distributed to Jupiter community members, and 10% will be reserved for contributors and grants.
“This allocation (10%), likely given to the DAO to administer, should give a lot of incentive for the community to participate in initiatives to grow Jupiter, vet projects for the Solana ecosystem, and drive the decentralized meta—all of which are our main objectives,” Meow said.
Earlier this month, the project launched a website that allows eligible Jupiter users to see how much JUP they can expect to receive. Those funds will be distributed in four phases of airdrops, Meow said on Friday.
The first airdrop, scheduled for January, will drop 1 billion JUP tokens into Solana users’ wallets.
The other 50% of the token supply will be managed by the Jupiter team. Out of 50%, 20% will go to current team members, 20% will serve as a strategic reserve, and a further 10% will act as a liquidity provision, either “mostly or entirely on-chain.”
Additional details regarding the airdrop and JUP token liquidity provision will be shared in the coming weeks, Meow said.
