Solana users might be set for another treat following a blockchain’s recent boom: Nearly a million SOL wallets are qualified for four billion tokens from decentralized finance aggregator Jupiter.
The 4 billion tokens are 40% of Jupiter’s total JUP tokens, according to some Wednesday announcement on X (formerly Twitter).
The airdrop happens from in a few days with one billion Jupiter tokens to users who’ve made no less than $1,000 in swap volume around the protocol.
Jupiter is among the greatest DeFi projects within the Solana space. The swap aggregator—which states be “built for smart traders who choose money”—allows users to get the best rate when buying and selling tokens.
It’s processed $97.8 million in transactions in the last 24 hrs, based on CoinGecko.
Airdrops are a good way of attracting users to some project by creating hype: the work dishes out free tokens or coins to users with the hope of creating it grow.
Solana has acquired restored interest yesteryear handful of several weeks. The project—and its native token, SOL—had taken a success following a collapse of crypto megabrand FTX this past year. It is because the disgraced exchange was heavily committed to Solana and hoarded lots of SOL.
Consider then, the sixth greatest crypto project makes an unlikely comeback. The kind of Visa and Shopify have stated they’ll use its blockchain and also the cost of SOL has boomed.
This is due to a short squeeze, a phenomenon in markets when traders who bet with an asset going lower in cost exit their positions and purchase to prevent further losses, based on Patrick Felder, founder & CIO at Prismatic Capital.
Edited by Stacy Elliott.