Jupiter, a decentralized trading aggregator built on the Solana blockchain, is gearing up for the launch of its native token, JUP, through an airdrop scheduled for Wednesday at 10 a.m. EST.
The JUP token will initiate with a maximum circulating supply of 1.35 billion, a slight reduction from the initially proposed figure of 1.7 billion, as disclosed by Jupiter’s pseudonymous founder Moew in a forum post on Tuesday. With JUP-U.S. dollar perpetuals trading at 65 cents on Aevo at the time of the announcement, the market capitalization is estimated to be around $700 million at the token’s inception.
Out of the initial circulating supply, 1 billion JUP coins are allocated for airdrops, 50 million each for loans to market makers on centralized exchanges and liquidity pool requirements, and 250 million for a launch pool. Airdrops involve the widespread distribution of free tokens to project communities, aiming to enhance adoption.
Approximately 955,000 wallets that engaged with Jupiter before November 2 are eligible to receive the JUP airdrop, according to data from Airdrop Official.
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