I think its time for an update on JUP! So much development has taken place since Pre-Airdrop Jupiter Exchange, so maybe that is the place to start.
WEN Before Airdrop of JUP tokens to the users of Jupiter Exchange the team did a free-test run with WEN token - a Meme coin give away just to ensure the tech and distribution was ready. WEN currently has a Market cap 75Million, fully circulated supply and proved the process for JUP airdrop distribution.
JUP JUP Airdrop was a major success with Exchange users receiving JUP Tokens based on value of transactions per wallet. This was also assisted with an up trending market and most if not all recipients appeared happy with the distribution. JUP currently has a Fully Diluted Market Cap 7.4Billion which is strong evidence that the Platform is performing well. Note that Season 1 JUP distribution is claimable until 31st July 2024, 03:00 PM UTC And future distribution in Season 2 is to be determined
Along with the JUP Airdrop and market up trend, came a massive interest in Solana chain and Jupiter exchange in particular. Suddenly everyone was invested and the community chats, DAO and governance flooded with great ideas, Locked value in JUP token which has driven further developments
JLP Cyrators post mentioned Perps - But I dont think we covered JLP. The Jupiter Liquidity Provider (JLP) Pool is a liquidity pool where it acts as a counterparty to traders. The JLP token is the liquidity provider token where it's value is derived from:
- An index fund of SOL, ETH, WBTC, USDC, USDT.
- Trader's profit and loss
- 75% of the generated fees (Opening, closing and borrowing fees of positions and trading fees of the pool) The APY, denominated in USD, is calculated based on 75% of fees generated from perps trading activities which does not include assets appreciation and traders PnL. The generated fees are distributed back to holders by redepositing the fees into the pool hourly. Current APY is listed at 31%.
Further there have been other developments, improvements and airdrops with the Jupiter Station, Governance and the LFG Launchpad which has recently distributed UPROCK (UPT) a mobile DePIN via another Air Drop.
Final update - based on staked JUP & Participation in Governance voting you can now claim ASR rewards from 6 July for 1 Month
With so much going on in the Solana Ecosystem - I strongly recommend a visit to Jupiter !
Five Star because that is all the stars we have ! Show Less
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