Jupiter, a Solana-based platform, plans to launch its latest token, JUP, via an airdrop on Wednesday. The initial total supply is set at 1.35 billion tokens, down from the planned 1.7 billion.
As the JUP token prepares for its debut, its initial market value is expected to be around $700 million, with a current price of 65 cents per JUP on the Aevo exchange.
The 1.35 billion JUP tokens will be distributed as follows:
1 billion for airdrops,
100 million for loans and liquidity requirements,
250 million for a launch pool
Recognizing the strategic importance of airdrops in increasing token adoption, Jupiter has decided to distribute JUP tokens to around 955,000 wallets that were active on the Jupiter platform before November 2.
This move not only increases user engagement but also positions the JUP token for greater community participation.
With an initial valuation of $700 million, the Solana-based JUP token launch is expected to gain traction in the crypto space, marking a significant milestone for Jupiter and its users.
