Jupiter Decentralized Exchange to Issue $612M JUP Tokens in Wednesday Airdrop
JUP has fallen 2% over the past 24 hours.
Updated Jan 22, 2025, 9:41 a.m. UTCPublished Jan 22, 2025, 9:38 a.m. UTC
What to know:
- The airdrop will be worth $612 million.
- The JUP token has lost 2% in the past 24 hours.
- Another airdrop is planned for January next year.
Jupiter, a Solana-based decentralized exchange, will airdrop 700 million JUP tokens to its community on Wednesday in what it is calling the "largest airdrop in history."
The airdrop is a part of the project's annual "Jupuary" event, which was voted into existence alongside another event in 2026 in a governance vote in December. It is scheduled to start at 15:30 UTC.
Initial concerns were raised about the sustainability of supply increase, prompting the proposal to be amended to include a token audit and burn schedule over the next month.
At the time of writing JUP is trading at $0.87 after sliding by 2% over the past 24 hours. The total value of the airdrop is set to be $612 million.
