Overview
Jupiter Exchange is a decentralized exchange built on the Solana Network, offering a platform for perpetual trading with leverage options up to 100x. The exchange utilizes liquidity from pools and oracles to maintain stable trading conditions with minimal price impact and slippage, while ensuring adequate liquidity.
It allows trading in key cryptocurrencies such as SOL, ETH and WBTC and consolidates liquidity from various sources within the Solana ecosystem to provide competitive pricing. Jupiter Exchange has managed over $40 billion in transaction volume and includes features like limit orders, decentralized perpetual and futures trading, time weighted average price functionality as well as automatic listing of new tokens from the Solana ecosystem. Additionally, the exchange has allocated 40% of its $JUP tokens, used for utility and governance, for distribution via an airdrop.
Key Metrics:
$JUP Airdrop
The $JUP airdrop goes live today at 10:00am EST.
Jupiter Exchange has emphasized the importance of a transparent and accountable token mining process. To ensure the integrity of their token $JUP, they've involved three prominent Solana leaders as cosigners for the cold wallets, where 75% of the tokens are stored. These cosigners are responsible for overseeing any transfers, ensuring they align with the roadmap and are communicated well in advance.
The roadmap includes token allocation for the team, Mercurial stakeholders and annual “Jupuary” events, with detailed vesting schedules. Notably, the team's token vesting begins after the second Jupuary, demonstrating their commitment to the project's long term success.
The initial circulating supply of $JUP is set at 1.35 billion, lower than initially planned and is allocated across airdrops, launchpools, loans to market makers and immediate needs. Additionally, there are provisions for future circulating supply, involving allocations for launchpad fees, liquidity needs, and community initiatives.
Jupiter Exchange maintains a high level of accountability, with all wallet transactions being transparent and open for scrutiny. This approach is part of their ethos to ensure the responsible growth of Solana DeFi and the Jupiter platform. They plan to continue distributing tokens annually on Jupuary 31, focusing on community engagement and product development. Eventually, they aim to transition to an inflationary token model managed by a mature and robust DAO.
Valuation
Below is a table adapted from Delphi Digital detailing the implied valuations at given price points:
Furthermore, $JUP has been trading on some pre-markets such as Aevo which have given us an insight as to pre Token Generation Event demand.
Below is the historical trading data on Aevo, with pricing having reached an all time high of 85 cents:
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.