At present, the JUP-USD perpetual is trading at 65 cents on Aevo, indicating a market capitalization of $700 million since its inception. Jupiter, a decentralized trading aggregator built on Solana, is gearing up to introduce its native token, JUP, via an airdrop set for Wednesday at 10 a.m. EST.
The initial maximum circulating supply of JUP will be 1.35 billion, as confirmed by Moew, Jupiter’s pseudonymous founder, in a forum post on Tuesday. This represents a downward adjustment from the previously announced 1.7 billion. As per the current trading value of the JUP-U.S. dollar perpetuals at 65 cents on Aevo, the token is anticipated to enter the market with a market capitalization of approximately $700 million.
Out of the initial circulating supply, 1 billion JUP coins are allocated for airdrops, 50 million each for loans to market makers on centralized exchanges and liquidity pool needs, and 250 million for a launch pool. The term “airdrop” denotes the practice of crypto projects distributing new or existing tokens for free to their communities as a means to foster adoption.
Approximately 955,000 wallets that engaged with Jupiter before November 2 are eligible for the JUP airdrop, according to information from Airdrop Official.
