Jupiter, a decentralized trading aggregator developed on the Solana blockchain, plans to unveil its native token, JUP, via an airdrop scheduled for Wednesday at 10 a.m. EST.
According to Meow, the pseudonymous founder of Jupiter, the token will initially have a maximum circulating supply of 1.35 billion.
This announcement follows Moew’s Tuesday forum post, in which he adjusted the total number of coins available for trading, revising it down from the initially planned 1.7 billion.
To put it differently, the token’s commencement of trading could result in a market capitalization of approximately $700 million, considering that the JUP-U.S. dollar perpetual was trading at 66 cents on Aevo at the time of reporting.
Out of the initial circulating supply of 1.35 billion tokens, 1 billion are allocated for airdrops, 50 million each for loans to market makers on centralized exchanges and liquidity pool requirements, and 250 million for a launch pool.
According to Airdrop Official, around 955,000 wallets that engaged with Jupiter before November 2 are eligible for the JUP airdrop.
