Dear Bitruers,
Today, we are excited to share a new article about Jupiter Exchange (JUP)!. Be sure to follow Bitrue's Official Twitter and Telegram to stay updated!
New users register and deposit to share a prize pool worth 10,000 USDT in JUP tokens.
Introduction
The Jupiter token ($JUP) is positioned as a governance token within the Jupiter ecosystem. Its primary purpose is to facilitate community engagement, decision-making, and incentivization within the Solana network. Here's an overview of its utility, tokenomics, distribution, and the mechanics of the airdrop:
Read More: What is Jupiter Exchange JUP and How Does It Work
Utility of Jupiter Token ($JUP)
-
Governance: $JUP holders will have voting rights and can participate in decision-making processes regarding the token itself, ecosystem initiatives, and future emissions.
-
Community Engagement: The token aims to foster an engaged and committed community within the Solana ecosystem.
-
Incentivization: $JUP will likely be used to incentivize engagement and new capital flows into Solana, contributing to its growth.
Tokenomics
-
Initial Supply Allocation: The proposed allocation includes 40% for community growth (distributed through airdrops), 20% for a locked token sale, and 40% reserved for the team & strategic reserve (vested over time).
-
Vesting and Unlocking: The team's allocation is vested, and the DAO will decide the exact unlock date. The strategic reserve can only be accessed by the team a year after token liquidity, with at least 6 months' notice before any tokens are released.
Jupiter (JUP) Token Airdrop
-
Airdrops: Jupiter plans to distribute tokens through multiple rounds of airdrops. The airdrops are intended to engage existing users and attract new participants to the Solana ecosystem.
-
Community Airdrop: Aimed at existing users and community members to reinvigorate the community. Prioritizes consistent participation in Jupiter and Solana during challenging times.
-
Growth Airdrop: Focuses on incentivizing trading on Jupiter and Solana, attracting new users, and increasing liquidity in the ecosystem.
-
-
Locked Token Sale (LTS): A sale phase for 20% of tokens. No exclusivity in terms of whitelisting or early access, providing an equal opportunity for all. Tokens acquired in this sale confer voting rights.
Airdrop Mechanics:
-
Community Involvement: Jupiter is taking a collaborative approach to airdrop mechanics. They are initiating a consultation period where the community can contribute to shaping the specifics of the airdrop criteria.
-
Community Airdrop: Intended for existing users and community members. Prioritizes consistent and active participation in Jupiter and Solana.
-
Growth Airdrop: Focused on incentivizing trading activities on Jupiter and Solana, attracting new users, and supporting upcoming ecosystem tokens.
-
Transparency and Fairness: The approach emphasizes transparency, collaboration, and inclusivity in the distribution process.
Read More: Introducing Blast L2: Ethereum L2 with Native Yield