Coin World Report:
Jupiter Aggregator is launching another round of positive betting reward activities. Jupiter’s goal is to distribute JUP and other tokens while engaging the community in voting issues.
Jupiter DEX Aggregator has prepared 50 million JUP and 7.5 million CLOUD for the next round of voting and active staking. The current claim window lasts until December 31st, covering previous community votes. Meanwhile, Jupiter invites organic and incentive activities. The DEX aggregator offers various trading tools that can be converted into airdrop tasks. It is currently uncertain whether the project will create another Jupuary or focus more on Active Staking Rewards (ASR).
The current rewards will be locked as part of the user’s staked balance. Rewards from the CLOUD or other tokens from the LFT Launchpad project will be distributed directly. Jupiter’s goal is also to invite as many users as possible to vote and actively participate, rather than simply holding more JUP. The project will also redistribute the remaining JUP from Jupuary 2024 as Active Staking Rewards for another year.
ASR is added to the existing user stakes and can be released within the usual 15-day cooldown period. Jupiter’s goal is to strike a balance between releasing new tokens and gradually increasing the free float. The community also faces the dilemma of choosing between high returns or scarcer JUP tokens, which have more staking and locking.
The ASR plan starts from six months and offers up to 100 million tokens. The goal of this plan is not only airdrop rewards but to provide more JUP for those interested in the ecosystem and ready for long-term participation. Jupiter aims to lock its value and avoid selling on the open market, while the project’s impact on Solana is growing.
Jupiter aims to balance the equity of the community and the team, both of which control 40% of the tokens. So far, Jupiter’s airdrops, ASR, especially Jupuary, have been high-profile activities that have driven demand for the native token.
JUP benefits from the growth of meme token trading
As of October 21st, the trading price of JUP ranged from slightly below $1 to $1.70, about $0.95. Over 67% of the tokens have been unlocked. Currently, the company is working towards achieving universal stability of the token to avoid a spiral price decline.
Jupiter remains the fourth-largest application on Solana, valued at $1.41 billion. In the past month, Jupiter’s growth has followed Raydium’s expansion, which increased its value by 73% in one month. Solana is also growing, with a value locked of $6.26 billion as SOL rebounds from its low point.
The daily DEX trading volume on Solana is about $2.5 billion, with Jupiter’s daily trading volume at approximately $1.2 billion. Most of Solana’s activity is based on automated market makers, with only a small portion being matched through order books. Most of the active addresses on Solana have low values below $10, with Raydium being the most targeted. Many of these addresses are considered low traffic or even spam.
Jupiter is responsible for the token trading route, reflecting the increase in activity on Raydium. As of October 14th, Jupiter’s aggregated volume exceeded 26 million in a day. Most of these trades have a value below $100, reflecting the new momentum of meme token imitation. As a result, Jupiter also generates $3.7 million even on slower days. While Solana trades are driven by bots, Jupiter’s goal is to leverage a real community to increase engagement and individual investment functionality.
Jupiter aims to expand the scale of Solana and drive mass adoption by mining retail users, especially in small-scale meme token activities. Jupiter seeks to address the biggest issues on Solana, particularly slippage, failed trades, and optimizing fees.
Jupiter focuses on spot and perpetual futures trading, providing all services through a mobile application. The platform also adds ApePro, a professional meme coin trading terminal. Jupiter also targets developers with the ownership of the Metropolis API, allowing them access to liquidity data. Additionally, Jupiter supports the Liquid Petroleum Gas Launchpad for fair token distribution, bringing valuable partnerships.
In the past year, Jupiter has evolved from a small-scale experimental application to become one of the pillars of the Solana ecosystem.
