Jupiter is one of the leading innovations in the world of DeFi (decentralized finance), operating on the Solana network. One of the interesting features of this project is the ongoing $JUP Airdrop . In this airdrop, 1.35 billion JUP tokens will be distributed to nearly one million people.
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Getting to Know Jupiter ($JUP)
Source: Youtube Solana
Jupiter ($JUP) is one of the largest protocols in the DeFi world operating on Solana. The platform recorded astonishing transaction volumes in November 2023, beating even Uniswap and 1inch with transaction amounts reaching $X and $Y respectively.
Initially, Jupiter started as a liquidity aggregator for token exchanges, similar to the service offered by 1inch on the Ethereum network. However, recently, Jupiter has also introduced GMX-style perpetual futures into its ecosystem. In the future, the project also plans to release a decentralized stablecoin .
Addressing Risks with SUSD
One of Jupiter's main visions is to address the risks associated with traditional stablecoins such as USDC and USDT. The project has introduced SUSD which is a fully decentralized stablecoin backed by Solana liquidity staking tokens (LSTs). SUSD not only has a higher degree of decentralization but also allows interest-free loans. The SOL used as collateral to mint SUSD generates yield, which will cover the minting costs, thereby providing an interest-free lending solution with exposure to SOL.
Token $JUP
- Platform : Jupiter
- Simbol Token: $JUP
- Total JUP Supply: 10 billion
- First Round Airdrop JUP: 1.35 billion
- Blockchain: Solana
- Sektor: Decentralized Exchange (DEX)
- Business Model: Liquidity Aggregator for Token Exchanges, Perpetual Futures, and Decentralized Stablecoins
Jupiter Token ($JUP) is a governance token that gives community members the right to make important decisions on the Jupiter platform. This includes agreeing on liquidity dates, emission plans, sanctioning token minting after genesis minting, and determining ecosystem initiative projects that will be supported by the Jupiter platform.
How to Qualify for the JUP Airdrop?
The first JUP airdrop will be awarded to 955,000 wallets that interact directly with Jupiter before November 2, 2023. This is one of the largest airdrops in the history of the crypto world, and if you qualify, you will receive a share of the 1.35 billion JUP tokens that will be distributed.
If you don't qualify for this first airdrop, don't worry. There will be more airdrops in the future. Make sure to follow updates regarding the upcoming JUP airdrop. It is important to remember that airdrop rewards are usually tied to activity, so the more actively you trade on Jupiter, the larger the JUP airdrop allocation you will receive in the future.
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JUP Airdrop Implementation Time
Claims for the Jupiter airdrop will be available starting at 10 a.m. EST or 17:00 p.m. Jakarta Time (WIB) on January 31, 2024. Once claims are open, you can claim your JUP tokens via the official Jupiter claims site.
⚠️ We would like to remind you to always be careful and alert to potential fraud. Just click on the official link that has been provided.
How to Trade JUP with Phantom?
To trade with JUP tokens, you need to have SOL in your Phantom wallet. Here are the steps:
- Sign in to the Phantom browser extension or Phantom mobile app.
- Select the wallet that holds the tokens you want to trade.
- Click the swap icon (arrow) at the bottom of the screen.
- Select the token pair you want to trade in the swap widget.
- Review your order and click "Submit!"
How to Connect JUP Tokens to Solana with Phantom?
If you want to connect JUP Token to Solana network with Phantom wallet, follow the steps below:
- Make sure you have downloaded and installed the Phantom extension or app on your device.
- Open the Phantom extension or app and go to your wallet.
- Within the Phantom wallet, look for the “Add Asset” or “Connect Token” option (may differ depending on the version of Phantom you are using).
- Look for the JUP token in the list of assets available to add.
- Click on the JUP token and follow the instructions to add it to your wallet on the Solana network.
By following these steps, you will be able to connect JUP Tokens to Solana via your Phantom wallet and access them for various purposes, including trading, staking, or participating in DeFi protocols on Solana.
How to Set Up Phantom Wallet?
If you want to set up your Phantom wallet further, here are the steps:
- Download and install the Phantom extension or app according to your device.
- Once installed, open the Phantom extension or app and create a new wallet or import an existing wallet.
- Perform any necessary security configurations, such as adding a password or enabling two-factor authentication (2FA).
- Once your wallet is ready, you can add assets, send or receive crypto, and interact with Solana-enabled DeFi applications.
With this guide, you now have all the information you need to get involved in the Jupiter airdrop, understand the JUP token, and trade wisely with Phantom. Stay tuned to the latest news and updates from Jupiter to not miss out on this valuable opportunity.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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