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Jupiter Set to Initiate Major On-Chain Movement with $JUP Launch in Last Week of January

The Jupiter exchange's $JUP token launch is a groundbreaking move, emphasizing the shift towards prioritizing on-chain launches and DEX trading in the DeFi space.

January 2, 2024 by Sheldon

The Jupiter exchange is revolutionizing the DeFi space with the launch of its governance token, $JUP. Jupiter announced the $JUP airdrop for its platform users in November during Breakpoint, emphasizing growing the pie. The total number of wallets eligible to claim the airdrop is 942,000. This launch is not just a routine event; it's a bold step towards establishing on-chain launches and DEX trading as the norm for top-tier projects in the cryptocurrency world.

Jupiter's strategy is firmly centered on promoting on-chain launches and DEX trading. By focusing 99.999% of their effort on on-chain activities, they aim to set a new standard for token launches, moving away from traditional reliance on centralized exchanges (CEX). Jupiter is working closely with top infrastructure partners, Triton One and Helius Labs, to scale up RPCs on both the front and back end. This collaboration ensures a robust infrastructure capable of handling the demands of an on-chain launch.

In collaboration with Solana labs, Jupiter is closely monitoring the rollout of Solana's 1.17 update, which is expected to enhance performance and resolve existing issues. The plan is to proceed with the $JUP launch only after confirming this update's stability and full deployment, ensuring a smooth on-chain experience.

A total of 10 billion $JUP tokens will be minted, split equally into two cold wallets. From the team wallet, 10% will be allocated for liquidity provision; from the community wallet, 15% will be used for the first airdrop and community needs. The team's LP account will initially use 5% for the token launch pool. Overall, 15% to 17.5% of the tokens will be liquid from day one, with the rest securely stored. All allocations will be stored in clearly marked wallets, easily trackable by the community, and monitored by bots. The team is considering acquiring .SOL domain names for these wallets to enhance transparency and ease of tracking.

Jupiter's launch is not just about the technical aspects; it's deeply rooted in community engagement and education. They are committed to creating an inclusive environment where the community is involved at every step and well-informed about the on-chain ecosystem. Aware of the scrutiny and potential skepticism, especially from those critical of Solana, Jupiter maintains its focus on its objectives, emphasizing collective learning and industry-wide improvement.

In conclusion, Jupiter's $JUP token launch sets a new precedent in the DeFi space. It's not just a token launch; it's a campaign to make on-chain launches and DEX trading the gold standard for top projects. By blending technical excellence with a strong community focus and innovative tokenomics, Jupiter is poised to lead a significant shift toward a more decentralized and transparent future in cryptocurrency trading and governance.

 

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