Jupiter Exchange to Give Away $1.5 Billion in Cryptocurrency
Date: 2024-11-26 Author: Oliver Abernathy Categories: BUSINESS
The project's co-founder, known under the pseudonym meow, proposed holding two stages of distribution in 2025, each of which involves the distribution of 700 million JUP tokens. The first stage is planned to be organized in January, while the date of the second remains uncertain.
From November 25 to 29, JUP token holders can take part in a vote to determine the fate of the initiative. The plan requires the support of at least 70% of the voters to approve it. In case of insufficient support, meow promises to make changes to the project taking into account the feedback and hold a new vote.
The first such distribution took place in January 2024. Then, more than a million users of the Solana blockchain received 1.35 billion JUP tokens. These coins were distributed among the first clients of the platform who actively used the service until November 2, 2023. Similarly, it can be assumed that the upcoming airdrops will be aimed at rewarding users who contributed to the development of the Jupiter ecosystem, for example, through blocking or exchanging tokens.
As meow notes, the key goal of this campaign is to attract new participants for the long-term development of the platform and increasing the level of decentralization of the protocol. To make the distribution as fair as possible, the organizers will strictly monitor compliance with the rules, excluding the possibility of one user receiving a reward several times.
