Solanadecentralized exchange (DEX) aggregator Jupiter is planning to distribute JUP tokens to its community through an airdrop over the next two Januaries. This comes after the Jupiter DAO, which represents JUP token holders, approved a revised airdrop proposal following an unsuccessful first attempt to distribute tokens worth $1.7 billion.
The second proposal received over 87% of votes in favor, making several key changes compared to the first proposal, which only garnered 58% support last month, falling short of the required 70% for approval. The second proposal incorporated feedback from thousands of previous voters and included changes such as allocating tokens to JUP stakers and placing a greater emphasis on including real users in the airdrop, rather than farming bots. Criteria such as “actual holdings” and “participation in the ecosystem” were introduced to ensure the tokens reach the right individuals, with a focus on long-term members rather than a minority group of users.
The official date and time for the airdrop have not been announced yet, but the revised proposal suggests that the “Jupuary” token drop should be completed by the end of a two-day Jupiter ecosystem event called Catstanbul, taking place in Istanbul, Turkey on January 25-26, 2025.
In January 2024, Jupiter conducted its first airdrop, distributing 1.35 billion JUP tokens, which accounted for 13.5% of the total token supply, to nearly 1 million eligible wallets.
The exact amount of JUP tokens to be distributed in the upcoming airdrop was not specified in the second proposal. Meow, Jupiter’s pseudonymous co-founder, explained that determining the exact number would be the responsibility of the team. The initial proposal suggested setting aside 700 million JUP tokens for each of the next two Januaries, totaling $1.7 billion at the current JUP prices.
Meow stated, “We all want the same thing—to grow the Jupiverse in the most best way possible.”
As of now, JUP, the native token of the Jupiter ecosystem, is trading at $1.22, representing a 7.5% decrease in the past 24 hours.
Edited by Andrew Hayward