Decentralized exchange Jupiter on the Solana ecosystem announced the launch of its platform token, JUP, scheduled for January 31st. The team previously initiated an airdrop event in late 2023, benefiting approximately one million users.
Jupiter’s pseudonymous founder, Meow, revealed plans for a testnet launch with “mockJUP” as part of the platform’s testing phase. Additionally, there are plans for a third-party memecoin launch on the platform next week, sparking community interest and speculation about a potential airdrop event.
The project team aims to launch a working group and DAO vision, as well as release the final Jupiter whitepaper before the token launch. The memecoin project, in particular, has stirred excitement among Solana ecosystem users and discussions on social media about a possible airdrop.
Jupiter first announced retrospective airdrop plans to reward early platform users in November, with the official website for airdrop verification going live on December 1st. The project will distribute 4 billion JUP tokens, which is 40% of the total supply, in four stages.
In the first stage, 955,000 eligible users who traded a minimum of $1,000 in volume on the protocol as of November 2nd will receive a share of one billion JUP tokens, with various reward tiers based on each user’s volume. Jupiter’s decision to airdrop has also generated significant hype within the Solana ecosystem.