Jupiter Airdrop Timing: When Is The JUP Distribution Event Happening?

Solana-based swap aggregator Jupiter (JUP) is set to debut with a huge one billion token airdrop to select wallets on 31 January 2024 at 10am EST.

Jupiter (JUP) Airdrop explained

Following a fantastic end-of-year price hike for Solana (SOL) amid the Bonk (BONK) airdrop frenzy, Jupiter is the next in line to garner hype around its official launch and subsequent airdrop which will see one billion, or 10% of the total JUP supply, distributed amongst select wallets in this first round.

The first JUP will airdrop will prioritize existing Jupiter and Solana users. More specifically, to be eligible for the airdrop, users must have used Jupiter and swapped a total of $1,000 on the protocol before 2 November 2023, which is almost one million wallets according to a Tweet from pseudonymous co-founder, Meow, 15 November 2023.

The post is quick to note that 40% of the total 10 billion JUP tokens will be distributed to the community over four rounds of airdrops, meaning that there will be opportunities for new users as time goes on.

The success of previous airdrops on Solana such as Jito Network (JTO), Pyth Network (PYTH), and BONK, were all major drops for crypto and Solana markets that saw users receive thousands of dollars. Naturally, these types of incentives will serve to attract new Solana users, especially when the criteria for airdrop eligibility require some level of participation from the users’s side.

Key liquidity for Solana

Launched in October 2021 Jupiter is the primary liquidity aggregator for Solana, making it one of the largest decentralized finance (DeFi) platforms built on the network up until now.

According to data from Def Llama, Solana is now the world’s biggest aggregator with over $420 million in 24-hour trading volume at the time of writing, outpacing multi-chain competitors 1inch Network and Paraswap by significant margins.

As per data available on the Jupiter website, it is the largest decentralized exchange (DEX) aggregator on Solana by volume, generating more than $15bn in trading volumes over the past month.

Jupiter has certainly benefited from the success of Solana in recent years, but the project’s success is that of its own making, which is cemented by the thousands of users who leverage Jupiter for its reliable trading mechanisms, price discovery, accessibility, low fees, and cross-chain features.

Solana (SOL) price

Solana has climbed to a solid $88 since dropping below the $10 mark in January 2023. After hitting $25 and trading sideways for the majority of 2023, SOL jumped over 250% amid the BONK airdrop frenzy, and the anticipation leading up to the historic spot Bitcoin exchange-traded fund (ETF) decision.

Solana may be poised to capitalize on any upward momentum from the overall market this year with such significant sums of fresh capital and increasingly high trading volumes, it may begin to outperform the likes of Ethereum in the realms of DeFi and DEXs.