Solana defi users can anticipate a decline in Jupiter tokens by January 2024.
Solana’s users can expect to receive approximately 4 billion Jupiter tokens in the upcoming month. The founder of Jupiter, known as Meow on X, revealed the details of the airdrop, emphasizing that this journey is a collective one.
The much-anticipated Jupiter airdrop, which is based on the Solana blockchain, will be exclusive to wallets that have interacted with the defi platform prior to November 2, 2023. Jupiter may announce additional airdrops in the next financial year.
According to various news sources, the Jupiter team plans to conduct the airdrops in four phases. In the initial stage, nearly one million wallets on Solana will receive a total of 1 billion JUP tokens.
To keep track of the number of tokens they are eligible to receive, users were able to utilize a website launched by the Solana defi aggregator at the beginning of December.
Jupiter tokens will serve as a governance mechanism, empowering community members to actively participate in approving, sanctioning, and voting on various aspects of the Jupiter platform, as stated on Jupiter’s website.
The founder of the platform outlined the tokenomics of the upcoming tokens, revealing that 50% of the total supply will be managed by the team, while the other half will be distributed to the community.
In a post on X, the project head emphasized the importance of building trust between the community and the team for successful collaboration. They expressed that the community should have confidence in the team’s abilities, granting them the necessary space to operate, while the team must trust the community by actively involving everyone as stakeholders.
Market analyst Jacob Canfield reported that Jupiter’s aggregated trading volume almost reached $1 billion today, totaling $992 million. Over the past seven days, the decentralized exchange has amassed a trading volume of more than $10 billion, much to the delight of Solana enthusiasts as the Jupiter airdrop approaches.
For more information, read: “Jupiter explodes higher with a 140% price increase.”
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