Solana (SOL)-based decentralized exchange (DEX) Jupiter (JUP) will release a billion of its tokens early next year, according to its founder.
The founder of Jupiter, who goes by the pseudonym Meow, say on the social media platform
Specifically, 40% of the 10 billion tokens will be reserved for four rounds of community airdrops, the first of which is expected to take place in January.
“Tokenomics reflects the ethos of a project, and our core ethos is as simple as it gets: for a project like Jupiter, there must be equal weight between a focused entity able to continuously recruit world-class talent, build products and strategy execution, and a broader community that can fact-check, counterbalance, and help course-correct.
As such, the 10 billion JUP will be 50% managed by the team and 50% distributed to the community. Perfectly balanced, as all cats should be.”
Meow says the Jupiter team sees itself as a “full-stack ecosystem push to help the Solana and crypto ecosystem win.”
“We believe Solana is the best blockchain for onboarding the next billion users. And if we get people to use JUP, they’ll end up using everything else on Solana too.
And when we have a full suite of powerful trading products that work just as well as their centralized counterparts, there’s no reason to go back to CEXs.
And when there is a critical mass of use cases and cool things you can do on-chain, there will be fewer and fewer reasons to pull your capital out.”
According to the founder, more details about the airdrop and the JUP liquidity provision will be revealed in the coming weeks.
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Featured image: Shutterstock/Space-maker