The Solana (SOL)-based decentralized exchange (DEX) Jupiter (JUP) will be airdropping a billion of its tokens early next year, according to its founder.
Jupiter’s founder, who pseudonymously goes by Meow, says on the social media platform X that out of the 10 billion JUP tokens that will eventually be minted, half of them will go to the community and half to the Jupiter team.
Specifically, 40% of the 10 billion tokens will be reserved for four rounds of community airdrops, the first of which is expected to take place in January.
“Tokenomics reflect the ethos of a project, and our key ethos is as simple as it gets – for a project like Jupiter, there needs to be an equal weight between a focused entity able to constantly recruit world-class talent, build product, and execute strategy, and a wider community able to fact-check, counterweight, and help to course-correct.
As such, the 10 billion JUP will be 50% managed by the team, 50% distributed to the community. Perfectly balanced, as all cats should be.”
Meow says the Jupiter team sees itself as a “full-stack ecosystem push to help the Solana and crypto ecosystem win.”
“We believe Solana is the best blockchain for onboarding the next billion users. And when we draw people to using JUP, they also end up using everything else on Solana.
And when we have a full set of powerful trading products that work as well as their centralized counterparts, they have no reason to go back to CEXes.
And when there is a critical mass of use cases and fun stuff you can do on-chain, there will be increasingly fewer reasons to pull your capital out.”
According to the founder, more details on the airdrop and JUP liquidity provision will be revealed in the coming weeks.
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