Solana blockchain transactions almost double minutes into Jupiter airdrop

The airdrop will allocate 1 billion JUP tokens to community members

article-image

Solana, Jupiter and Adobe Stock modified by Blockworks

share

Transactions on the Solana blockchain have almost doubled minutes after the anticipated Jupiter airdrop.

According to the Solana explorer, transactions per second (TPS) on Solana went from roughly 1,900 to over 3,000 minutes following the airdrop. 

Average ping time — the time between the initiation and completion of a process — has almost tripled, from roughly 20,000 milliseconds to over 60,000 milliseconds.

Jupiter is one of the largest liquidity aggregators on Solana, rivaling Uniswap v3  for trading volume. 

According to Coingecko, Jupiter currently has a 24-hour trading volume of over $688 million while Uniswap v3 on Ethereum currently has a 24-hour trading volume of a little over $790 million.

This Genesis airdrop will allocate 1 billion JUP tokens to community members. Four future airdrops will occur on the same date over the next four years.

Read more: Understanding Jupiter’s tokenomics ahead of its first airdrop

The initial airdrop will be given to engaged users, and an estimated 955K wallets who have interacted with Jupiter before Nov. 2 will be able to claim eligibility.

According to Meow, 200 million tokens will be evenly distributed between all wallets, and 700 million tokens will be allocated based on a 4-tiered score distribution, with the top 2 thousand users receiving over 100,000 tokens each. Community members on Discord, X and other developers will receive the remaining 100 million tokens.

At the time of writing, the JUP token is currently trading at $0.689, with a market cap of $924 million.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png

Research

Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.

/

article-image

Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space

article-image

Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?

article-image

Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month

article-image

It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet

article-image

Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend

article-image

Plus, Pudgy Penguins grows its brand and a group of Autoglyphs sell for $14.5 million