Jupiter, a DEX aggregator on Solana 
SOL
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blockchain, opened up inital claims for its JUP token airdrop, the challenge announced on X on Friday.
As customers began claiming their tokens, some expressed discontent over their allocation on X and Discord, saying they need to have obtained extra tokens because of the age of their wallets and the way a lot they used the protocol through the years.
The airdrop is designed to distribute 4 out of 10 billion of JUP, or 40% of the whole provide, in 4 phases, the challenge introduced in November. The primary section will launch one billion Jupiter tokens to customers who’ve achieved a minimal of $1,000 in swap quantity on the protocol by the snapshot date of Nov. 2.
Launch phases
The challenge’s pseudonymous founder who goes by Meow said on X that the primary section would see 2% of tokens distributed to all wallets, with 7% allotted in a “tiered rating based mostly distribution, with rating based mostly on adjusted quantity.” One other 1% could be allotted to neighborhood members on Discord and Twitter, and builders.
“We imagine this breakdown will reward energy customers and contributors considerably extra, whereas doubtless giving everybody else a motive to come back again and interact,” Meow mentioned.
In keeping with the founder, Jupiter facilitated $35 billion in cumulative buying and selling quantity by October, with 80% of that made by 0.2% of all wallets.
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Anna is a senior coverage reporter and assistant editor at The Block. She has a background in political journalism and coated Russian civil society for a spread of stories shops in Moscow, together with the award-winning newspaper Novaya Gazeta. Earlier than becoming a member of The Block, Anna spent the previous 5 years investigating cryptocurrency insurance policies and adoption world wide at CoinDesk. Anna owns bitcoin and a present NFT of sentimental worth.
