Jupiter, a Solana-based decentralized trading aggregator, is set up to release its native token, JUP, through an airdrop on Wednesday at 10 a.m. EST.
The token will have a preliminary optimum flowing supply of 1.35 billion, Jupiter’s pseudonymous creator Moew stated Tuesday in an online forum post, downwardly modifying the overall variety of coins readily available for trading from the formerly chosen figure of 1.7 billion.
To put it simply, the token might start trading with a market capitalization of around $700 million, thinking about the JUP-U.S. dollar perpetuals traded at 65 cents on Aevo at press time.
Of the preliminary flowing supply of 1.35 billion, 1 billion coins are for airdrops, 50 million each for loans to market makers on central exchanges and liquidity swimming pool requires, and 250 million for a launch swimming pool. Airdrop describes crypto tasks dispersing complimentary brand-new or existing tokens en masse to their neighborhoods to enhance adoption.
About 955,000 wallets that communicated with Jupiter before Nov. 2 are qualified for the JUP airdrop, according to information source Airdrop Official.
Modified by Sam Reynolds.
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