Solana-based decentralized exchange Jupiter will airdrop 700 million JUP tokens to its community. The project calls this the “largest airdrop in history” and will take place on Wednesday.
Airdrop Details
The airdrop is part of Jupiter’s annual “Jupuary” event. This event was planned to continue until 2026, with a management vote held in December. The airdrop will start at 15:30 UTC.
Sustainability Concerns
Initially, there were concerns about the sustainability of the increase in token supply. Therefore, the airdrop plan has been modified to include a token audit and a token burn program within the next month.
At the time of writing, the JUP token is trading at $0.87 and has lost 2% in value in the last 24 hours. The total value of the airdrop was determined as 612 million dollars.
This major airdrop by Jupiter is attracting the attention of the community. The regulations aim to keep the token supply under control. Airdrop is considered an important step in terms of the growth of the project and the expansion of the user base.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
