Jupiter, a decentralized exchange (DEX) aggregator running on the Solana (SOL) blockchain, has announced the opening of initial claims for its JUP token airdrop.
In a recent post on X (formerly Twitter), the project said users can now begin claiming their tokens.
— Jupiter 🪐 (@JupiterExchange) December 1, 2023
The airdrop has been designed to distribute 40% of the total JUP token supply, which amounts to four out of the 10 billion tokens.
The distribution will occur in four phases, as outlined by the project in a November announcement.
The first phase will release one billion Jupiter tokens to users who have conducted a minimum of $1,000 in swap volume on the protocol by the snapshot date of November 2.
Meow, the pseudonymous founder of the project, shared details about the allocation process on X.
In the first phase, 2% of the tokens will be distributed to all wallets, while 7% will be allocated through a “tiered score based distribution” that considers adjusted volume.
An additional 1% will be allotted to community members on platforms like Discord and Twitter, as well as developers.
Meow expressed the belief that this breakdown would reward power users and contributors more significantly, while also providing an incentive for others to engage with the platform.
According to the founder, Jupiter has facilitated a cumulative trading volume of $35 billion as of October, with 80% of that volume being generated by only 0.2% of all wallets.
Some Users Are Not Satisfied With the Airdrop
However, some individuals have expressed dissatisfaction with their allocation, claiming that they should have received a larger share based on factors such as the age of their wallets and their level of engagement with the protocol over the years.
“The same wallet used Jup in 2021 more than 40x, 2022 more than 20x and used well enough in 2023,” one Twitter user said.
To determine eligibility for the airdrop and check their allocations, users are advised to follow the instructions provided by the Jupiter project.