3 Crypto Traders Secure Million-Dollar Gains From Solana-Powered DeFi Platform Jupiter's Massive Airdrop

Republished By Plato

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On February 2, blockchain analysis service “Lookonchain” revealed that the airdrop by Jupiter, a leading DeFi platform on the Solana blockchain, which got started on January 31, has been very good to some people.

As the Phantom wallet team explained recently, the JUP token is the governance token of Jupiter.

This token is essential for the decentralized governance within the Jupiter ecosystem, allowing token holders to participate actively in decision-making processes. The JUP token empowers its holders with approval rights over critical operational decisions, including liquidity and emission strategies, ensuring the community’s involvement in the platform’s core financial decisions.

Additionally, token holders possess the authority to sanction new token mints beyond the initial creation, a key aspect in managing the token’s supply and shaping Jupiter’s economic framework. Moreover, the JUP token enables holders to vote on various ecosystem initiatives, directing the growth of Jupiter and its role in the wider DeFi ecosystem.

Regarding the eligibility for the JUP airdrop that occurred two days ago, the Phantom team highlighted that approximately 955,000 wallets that had interacted with Jupiter by November 2, 2023, were eligible for the initial airdrop.

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For those not included in the current airdrop, the Phantom team suggests staying tuned for future airdrop opportunities. They recommend keeping up with Jupiter’s updates and actively participating in its offerings to enhance the likelihood of qualifying for upcoming JUP airdrops.

At the time of writing, the $JUP token is trading at around $0.6301, up 11.3% in the past 24-hour period.

Earlier today, Lookonchain, a platform known for its on-chain analysis, shared a significant finding on social media platform X regarding the recent JUP airdrop. The analysis highlighted the success of three airdrop hunters who collectively earned over $1 million from the event.

According to Lookonchain, these three individuals managed to receive 5.5 million JUP tokens, valued at approximately $3.6 million. This substantial gain was achieved through the strategic use of around 27,600 wallets, indicating a highly organized approach to maximizing their airdrop benefits.

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