Solana DEX token “JUP” will be launched soon ─ Will start trading with a market capitalization of approximately $700 million | CoinDesk JAPAN

Solana-based decentralized trading aggregator Jupiter will launch its native token JUP via airdrop on January 31st at 10am EST (February 1st midnight Japan time) It’s planned.

The token’s initial maximum circulation will be 1.35 billion coins, down from the 1.7 billion that had previously determined the total number of tradable coins, Jupiter’s anonymous founder Moew said in a forum post on the 30th. He said he would fix it.

In other words, this token has a market value of approximately $700 million (approximately 105 billion yen, equivalent to 1 dollar = 150 yen), considering that it is trading at around 65 cents on the decentralized cryptocurrency exchange Aevo at the time of writing. It looks like we will start trading with the total amount.

Of the initial circulation of 1.35 billion coins, 1 billion will be for the airdrop, 50 million for the centralized exchange’s market maker lending and liquidity pool needs, and 250 million for the launch pool. An airdrop is when a crypto project distributes new or existing tokens for free to the community all at once to encourage adoption.

According to Airdrop Officialapproximately 955,000 wallets that interacted with Jupiter before November 2 are eligible for JUP’s airdrop.

Everything you need to know about the Jupiter airdrop tomorrow in one page.

(via Messari Intel) pic.twitter.com/8gH6oz0Zn1

— Ryan Selkis (d/acc) (@twobitidiot) January 30, 2024

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Shutterstock
｜Original text: Solana DEX Jupiter’s JUP Token to Debut With 1.35B Circulating Supply