In the midst of the frenzy caused by the new Meme Coin airdrop and the increased activity of stablecoin swaps, the decentralized exchange aggregator on the Solana ecosystem, Jupiter, has reached a trading volume of $510 million in the past 24 hours, surpassing Uniswap V3 on the Ethereum chain as the largest DeFi exchange in terms of trading volume (note: if the trading volumes from multiple chains are combined, Uniswap still ranks first).
However, most of the trading volume on Jupiter in the past day came from the exchange of SOL tokens for stablecoins USDC and USDT (approximately $200 million), while the trading volume of the meme coin WEN accounted for around $61 million in value.
According to the Wen airdrop website, the WEN token was created based on fragmented poetry NFTs written by Jupiter founder Meow and was issued through Jupiter’s Beta Launchpad by the NFT technology team Ovols. Each WEN token represents a proportional ownership of the poetry in Meow’s NFTs.
Users who meet one of the following conditions are eligible for the WEN token airdrop:
– Have completed a trading volume of at least $5 on Jupiter in the past six months (before 8 a.m. on January 19th, Taiwan time).
– Have completed DCA, limit, or perpetual trading orders on Jupiter.
– Hold Ovols NFTs or blue-chip NFTs.
– Own a Solana Saga phone (i.e., users who hold Saga Genesis Tokens).
According to data from Dune, the total supply of WEN tokens is 1 trillion, and approximately 57.90% of the WEN airdrop has been claimed as of the deadline, which is 11 p.m. on January 29th, Taiwan time.
JUP token airdrop:
Jupiter founder Meow has announced that the native token of Jupiter, JUP, will be airdropped this Wednesday (January 31st). A total of 1 billion JUP tokens will be distributed to early users of the platform. According to perpetual contract data traded on the decentralized exchange Aevo, the pre-market trading price of JUP is approximately $0.7. Based on this price, the airdrop is estimated to be valued at around $700 million.
According to Meow, although recently joined Jupiter users will not be able to participate in the upcoming JUP airdrop, the team will conduct additional rounds of JUP airdrops from November 2nd to the following year’s “Jupuary” (January 31st).
Sources:
– CoinGecko
– Wen airdrop website
– Dune data
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