Jupiter to distribute over $600 million in ‘Jupuary’ airdrop today

Solana-based decentralized exchange aggregator Jupiter will carry out its “Jupuary” airdrop later today — distributing nearly 700 million JUP tokens ($616 million) to 2 million eligible user wallets on Solana.

This comes after Jupiter released an eligibility checker for its users last week to check their status before claiming their rewards.

Jupiter is distributing its tokens based on user activity, with specific allocations for different types of users. The airdrop is structured to target two groups: “users and stakers” and key community contributors termed “Carrots and Good Cats.”

Among the category of users, 425 million JUP tokens are allocated for those who have engaged in token swaps on Jupiter, with distribution based on volume tiers.

75 million JUP tokens are set aside for those who staked JUP, with an additional bonus for consistent voters in governance proposals.

Jupiter concluded its first airdrop last year, where nearly 1 billion JUP tokens were handed out. Jupiter has plans for annual airdrops, with commitments to distribute tokens each January through 2027.

Jupiter has a circulating supply of 1.68 billion tokens out of a maximum of 10 billion, at a market cap of $1.48 billion. It changes hands at $0.88 — up 33% since its initial rollout in January 2024.

The platform, founded in October 2021 by “Meow,” consolidates liquidity from multiple decentralized exchanges on Solana and offers a perpetuals trading product.