cryptopolitan.com
The Jupiter aggregator is launching another campaign for active staking rewards. Jupiter’s goal is to engage the community in voting issues while distributing JUP and other tokens.
Jupiter DEX aggregator has prepared 50M JUP and 7.5M CLOUD for its next round of voting and active staking. The current claims window runs until December 31 and covers previous community votes. At the same time, Jupiter invites both organic and incentivized activity. The DEX aggregator offers multiple trading tools, which can turn into airdrop tasks. For now, it is uncertain if the project would create another Jupuary, or focus more on active staking rewards (ASR).
The current rewards will remain locked as part of the user’s staked balance. Rewards of CLOUD or other tokens from LFT launchpad projects will be sent out directly. The goal of Jupiter was also to invite as many users as possible to vote and engage actively instead of simply holding more JUP. The project also distributed the remaining JUP from the 2024 Jupuary for another year in active staking rewards.
The ASR are added to existing user stakes and can be released with the usual 15-day cooldown period. Jupiter aims to strike a balance between releasing new tokens and making more gradual additions to the free float. The community also faces the dilemma of choosing either high rewards or a more scarce JUP token with more staking and lockups.
The ASR program started with six-month periods, offering up to 100M tokens. The goal of the program is to go beyond airdrop rewards, but instead give more JUP to those that are interested in the ecosystem and ready for long-term participation. Jupiter aims to lock in its value and avoid selling on the open market, while the project grows its influence on Solana.
Jupiter aims to balance the community and team stakes, with both controlling 40% of the tokens. Until now, Jupiter airdrop, ASR, and especially Jupuary were high-profile events that boosted demand for the native token.
JUP benefits from growth of meme token trading
JUP trades in a range from just under $1 to $1.70, and at around $0.95 as of October 21. The token has unlocked more than 67% of the available supply and is now aiming for general token stability to avoid a downward price spiral.
Jupiter remains the fourth-largest app on Solana, with $1.41B in reported value locked. In the past month, Jupiter’s activity growth tracks the expansion of Raydium, which increased its value locked by 73% in a month. Solana is also growing, with $6.26B in value locked as SOL recovered from its lows.
Solana carries around $2.5B in daily DEX trading volumes, of which Jupiter routs around $1.2B in daily trades. Most of the Solana activity is based on automated market makers, with only a small part matched through order books. Most of the active addresses on Solana posted activity with a value under $10, of which most targeted Raydium. Most of those addresses are considered low-volume traffic or even spam.
Jupiter takes care of token trading routes, reflecting the heightened activity on Raydium. As of October 14, Jupiter aggregated more than 26M transactions in a day. Most of those trades were under $100 in value, reflecting the new drive to ape into meme tokens. As a result, Jupiter also generates as much as $3.7M in daily fees, even on a slower day. While Solana trading is driven by bots, Jupiter aims to tap a real community and increase engagement and personal investment features.
Jupiter aims to scale Solana and drive mass adoption, by tapping retail users and especially small-scale meme token activity. Jupiter aims to deal with the biggest issues on Solana, especially slippage, failed transactions, and optimizing fees.
Jupiter focuses on spot and perpetual futures trading, as well as offering all its services through mobile apps. The platform also added ApePro, a professional meme coin trading terminal. Jupiter also targets developers with the Metropolis API, granting access to liquidity data. Additionally, Jupiter supports the LPG launchpad for fair token distribution, bringing valuable partnerships.
In the past year, Jupiter evolved from a small-scale experimental app to one of the pillars of the Solana ecosystem.