Introduction
The imminent launch of Jupiter’s $JUP token has been one of the highlights of the airdrop season, sparking considerable excitement from users of this iconic platform. Jupiter announced the allocations for their first round of airdrop earlier this month, and users can confirm their individual allocations via the link provided here.
For those who missed the initial airdrop, Jupiter will be doing three additional rounds. This guide outlines Jupiter’s various functions and explains how engaging with these functions could qualify you for future airdrops.
How Round One Worked
Although details about the next three rounds remain undisclosed, insights can be drawn from the criteria used in the first round. Wallets received scores reflecting their activity and engagement with the platform, with additional multipliers for:
- Usage spanning at least six different months.
- Utilisation of DCA (Dollar Cost Averaging) and/or Limit Order functions.
- Activity on the platform before 2023.
Wallets are then categorized into five tiers based on their scores. It is noteworthy that in some instances, distributing transaction volume across multiple wallets proved more advantageous than concentrating it in a single one.
User Interface
Navigating to their main page will bring users to this interface.
Key features are:
A – Wallet connection
B – Swap Interface (Default)
C – Swap Panel
D – Limit Orders
E – DCA (Dollar Cost Averaging)
F – Bridge
G – Perpetual Trading
The latter two features are newer additions to the platform. Whilst they weren’t considered for the first airdrop, one can only assume they would be for the next three. Notably, the Bridge feature incorporates Wormhole, which is planning its own token airdrop. Utilising this feature could offer users the advantage of qualifying for both airdrops simultaneously.
Swap Feature
The swap feature, essential for every Solana user, acts as an aggregator to ensure the best possible deals for token exchanges. Users can trade virtually any token by searching for its ticker or contract address.
While the volume of transactions on the platform contributes to a user’s score, it’s important to note that trades between stablecoins are excluded from this calculation to prevent wash trading solely for volume generation.
Limit Orders
If you are familiar with centralised exchange, you should be able to understand how limit orders work. You are using the asset selected in A to purchase the asset selected in B at a rate stipulated in C.
DCA
Users can specify their capital amount, select the asset to purchase, determine the purchase rate, and set the time-frame for these transactions. Additionally, it allows setting price range limits to ensure trades stay within desired boundaries.
Bridge
Jupiter’s bridge currently offers two options. The Comparator will aggregate multiple bridges to offer you the best option for moving your funds across a wide range of ecosystems.
The Wormhole integration remains in its beta stages and only permits transfers between Solana and Ethereum.
Perpetual Trading
Perpetual trading is now available on Jupiter but remains limited to SOL, ETH and BTC for the beta stages. Jupiter’s unique model lends itself to several advantages which are covered in this article here.
Earn via the JLP Pool
Jupiter’s perpetual trading system depends on users contributing liquidity to enable trades. In return, they earn 70% of all fees generated on the platform. It’s also likely that these liquidity providers will accumulate points towards upcoming airdrop rounds.
For a comprehensive understanding of the JLP pool and user benefits, further details are provided here.
Conclusion
Having already established itself as a cornerstone of the Solana ecosystem, Jupiter provides the opportunity for users to qualify for their airdrop by performing tasks they are likely to do on a regular basis anyway. Additional features are also available for users to maximise their scores whilst taking advantage of Jupiter’s top-tier features and user experience.