Solana blockchain transactions almost double minutes into Jupiter airdrop

The airdrop will allocate 1 billion JUP tokens to community members

January 31, 2024 11:21 am

Solana, Jupiter and Adobe Stock modified by Blockworks

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.

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.

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