decrypt.co
Solana decentralized finance (DeFi) aggregator Jupiter will launch a meme coin called WEN on Friday via its launchpad, and finally provided details for a token launch that’s been teased in recent weeks. The WEN drop comes from DeFi/NFT protocol Ovols using Jupiter’s new token launchpad.
Pseudonymous Jupiter founder Meow shared more info in a Thursday morning post on Twitter. Meow wrote a poem called “A Love Letter to Wen Bros,” which they then minted as an NFT via a new token standard called the Wen New Standard (WNS).
That NFT was then fractionalized into 1 trillion WEN tokens, and 70% of the supply will be distributed equally across more than a million eligible Solana wallets. The claim will begin at 10 a.m. ET on Friday, January 26—and despite its fractionalized origins, the official website says that WEN will “trade like normal Solana tokens.”
Immortalizing WEN Culture
I’m delighted today to introduce WEN, which I shall unveil over 5 parts:
1. The Poem
2. The NFT
3. The NFT Standard
4. The First Culture Token In Crypto
5. The First LFG Launchpad ProjectIt’s a doozy, so let us walk through it how it all unfolded… pic.twitter.com/bOgLABL3Mq
— meow 🥧 (@weremeow) January 25, 2024
Who’s eligible? According to Meow, the list of wallets includes active Jupiter users over the past six months, Solana Saga smartphone owners, and holders of NFTs from Ovols and “several top NFT collections.” Full details have yet to be confirmed.
“The Wen Foundation, led by the Ovols NFT community, is a group dedicated to giving back to the Solana community by supporting the development of public goods and further amplifying the message of what is only possible on Solana,” the WEN website reads.
The WEN airdrop is billed as a launchpad test run ahead of Jupiter’s own anticipated JUP token drop, which is set for January 31. Nearly a million wallets are eligible for the drop, which follows other recent prominent Solana airdrops from the likes of Jito and Pyth.