Decentralized
trading
aggregator
Jupiter
plans
to
airdrop
its
JUP
token
toward
the
end
of
January,
the
Solana-based
protocol’s
pseudonymous
founder
said
Tuesday.
Since
early
December.
meme
coins,
the
Jito
airdrop
and
SOL’s
own
booming
price
have
contributed
to
a
surge
in
decentralized
finance
(DeFi)
activity
on
the
Solana
blockchain.
The
airdrop
may
test
the
longevity
of
the
altcoin
frenzy.
In
a
post
on
X,
the
founder,
Meow,
said
the
protocol
was
“not
optimizing
for
hype
or
price
of
perfect
price
discovery.”
Rather,
the
airdrop
would
be
an
experiment
in
conducting
a
major
token
distribution
–
a
“high
stress
event”
–
while
“ensuring
no
cats
left
behind.”
Nearly
1
million
Solana
wallets
have
qualified
for
a
slice
of
the
unusually
large
airdrop:
40%
of
JUP’s
total
supply,
a
size
that
reflects
Jupiter’s
popularity
with
traders.
The
program
routes
token
buy
and
sell
orders
through
a
litany
of
other
on-chain
trading
venues
to
find
the
best
price.
The
distribution
will
be
a
stress
test
for
JUP
trading
infrastructure
as
well
as
the
Solana
network
itself,
Meow
said.
