Unknown person earns $1,17 million on the JUP token airdrop

He received 1,85 million coins to 9246 addresses

01.02.2024 - 14:30

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3 min

What’s new? An unknown user earned $1,17 million by participating in the airdrop of decentralized exchange (DEX) aggregator Jupiter’s native token on the Solana network. Lookonchain analysts found 9246 addresses associated with the user, each of which was authorized to participate in the coin distribution. These wallets received a total of 1,85 million JUP, then the funds were redirected to a single address.

Source: Twitter.com

What else is known? The user sold 1,4 million coins at $0,6371 through decentralized exchanges, earning $891 940, and transferred 121 000 coins worth $77 000 to centralized trading platforms Bybit and MEXC.

At the time of writing the news, his wallet holds 319 000 JUP.

The JUP launch and airdrop took place on January 31. The total offering is 10 billion JUP, this amount will be split 50/50 between the community and the project’s team.

1 billion coins were allocated for the first airdrop and 955 000 wallets that had swapped more than $1000 on Jupiter by November 2 last year were eligible to participate. Three more giveaways will be held in January 2025, 2026 and 2027.

1 billion of the total offering will be allocated for developer grants. Another 5 billion belongs to the project’s team, they will begin to be gradually withdrawn from the lock in January next year.

A total of 1,35 billion coins went into circulation on launch day, 350 million of which were allocated to market makers of trading platforms. The asset is trading at $0,5969 on Binance, up 1894% overnight.