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FEB 1, 2024

Everything you need to know about Jupiter and how to farm for the next airdrop

by solfistooshort, 3ZTftcJ1Ey5ct11vPvux1yuha3SzKt6jSPAJNQaqe3Nk

The biggest airdrop ever on Solana has landed, here's Here's everything you need to know about JupiterExchange, and how you can prepare for yourself for the next round!
To prepare for an airdrop of this dimension, they had to stress-test the chain, that's why $Mockjup and @wenwencoin have been created.
During the $WEN (@wenwencoin) launch, 117,973 wallets were active on Solana at the same time, yet the Solana network held pretty well maintaining a flawless 100% uptime.
StepFinance dashboard: active wallets on Solana during the $WEN claim
StepFinance dashboard: active wallets on Solana during the $WEN claim
@wenwencoin launch has been set up to be as intensive a test as possible, with an even bigger number of recipients than jup. The main difference with jup is the fact that $wen launch was focused on new users compared to jup (older users), so there is a reasonable chance that it will have more recipients than the actual launch.  

What's JupiterExchange, and how is it started?

Jupiter Exchange It’s a DeFi aggregator on Solana, streamlining the process of token swaps by pooling liquidity from various decentralized exchanges (DEXs). Originally, Jupiter was just a team experiment, started because the Jupiter team loved playing with all the various networks and solving all the tricky problems, like transaction size limits. Launched in November 2021 Jupiter team started Jupiter as a standalone project, to integrate Mercurial and Serum to provide more utility for stables like $UST & $PAI and help establish them as key stables in @solana. In doing so, they launched the first cross-protocol liquidity swap on Solana. This approach ensures that users receive the best possible rates for their transactions. Currently, Jupiter has many different features:
• Swap
• Limit Order
• DCA
• Bridge
• Perpetual trading(with leverage)
Started as an experiment, Jupiter is currently the DeFi platform with the most volume in every chain, the most used program in Solana. and the most integrated platform on Solana!  
CoinGecko leaderboard for DeFi volume
CoinGecko leaderboard for DeFi volume

How to farm for the next round?

What is needed?
- Sol wallet 
- 5 SOL 
Once you have checked the list: go ahead and visit https://jup.ag/
Then connect a burner wallet, you are going to use it only to farm this airdrop.
Swap feature (Allows users to swap supported SPL tokens with low slippage and minimal fees)
- Swap 500 USDC to Solana ( 5 SOL as of the time I'm writing this)
- Swap 1 Sol to USDC 
- Swap 1 Sol to Eth(portal) (this transaction may charge more in fees)
Limit Order (Enables users to place buy or sell orders at specific price levels, aiding traders in avoiding slippage and securing optimal prices)
- Sell 1 Sol at 105 USDC Rate, expiry: never. (you can see your order right below the chart under opened orders)
DCA (Dollar-Cost Averaging allows users to purchase a fixed amount of tokens within a specified price range over a set period, offering flexibility in time intervals: minutes, hours, days, weeks, or months).
- Allocate 1 Sol to Sell to buy USDC, every 1 day, over 30 orders. (you can see your order at the bottom of the page, under DCA summary)
Bridge (Facilitates users in bridging tokens from EVM blockchains like Ethereum, $BNB Chain, Arbitrum, or non-EVM blockchains like Tron to Solana, ensuring optimal routes for low slippage and transaction fees)
- Use the Wormhole feature, and swap the Eth(portal) we got precedently using the Swap feature, to Eth(this transaction may take some time, and may charge more in fees)
• Perpetual (Allows users to trade futures contracts for supported tokens with a maximum leverage of up to x100)
- We are going to open and close the position right away just to create more volume.
- Open a 1 Sol position using 10x leverage, wait a few seconds, and close the position.
I suggest repeating all these actions daily to help increase your chances for a higher allocation

Why did Jupiter's team decide to do an airdrop?

• To energize the ecosystem and contribute to the growth and vitality of @solana
by attracting new capital flows, new users, and new investments to Solana.
• To create momentum, for new ecosystem tokens. The JUP token can help to catalyze the momentum for more new ecosystem tokens.
• To build a strong and distributed JUP Community, the Jupiter team is focused on establishing a robust and broad community that is engaged and committed to supporting crucial initiatives in the long term.

$JUP Tokenomics:  

Jupuary Airdrop is not going to be a one-night stand... It's here to stay.
Jupiter will do an airdrop every year in January, 10% of the supply from the community reserve will be used for the airdrop each year.
Let's breakdown $JUP Tokenomics:
-Total Maximum Supply: 10 Billion $JUP tokens.
- Adjusted Supply: 1.35 billion $JUP, reduced from the initial 1.7 billion plan.
• Initial Distribution Details:
- Airdrop: 1 billion $JUP.
- Launchpool: 250 million $JUP, initially proposed as 500 million.
- CEX Market Maker Loans: 50 million $JUP.
- Liquidity Needs: 50 million $JUP.
- Contingency Reserve: 33 million $JUP.
• Team's Commitment to Jupiter:
- Vesting Commencement: Post-second Jupuary, starting February 2025.
- Allocated to Team: 20% over 2 years.

What's JUP utility?

JUP will be a Governance token.
JUP token holders will have the ability to vote on critical aspects of the token itself, such as the timing of initial liquidity provision, future emissions beyond the initial mint, and key ecosystem initiatives, including determining the projects that will be a part of Jupiter Start (Launchpad) and Jupiter Labs(Incubator)

What's Jupiter Start?

Jupiter Start is an initiative that seeks to redefine the launchpad experience, focusing more on long-term success and creating a robust community, to reach more visibility and attract more investors.
To invigorate the ecosystem, there is a need for new projects which underscores the significance of launchpads.
However, in the current landscape of existing launchpads, the focus tends to be on short-term token price gains, often not thinking about the long-term viability and sustainability of projects, not supporting new projects, and speculative behavior that leads to tokens dumping quickly post-launch.
Jupiter Start breaks down into 3 core components:
(launching over the next few months).
• Jupiter Token Spark: This aims to simplify the complexities associated with token launches, while also providing immediate tradability on Jupiter.
We highlight exceptional projects, providing them with visibility within our community and DAO.
• Jupiter Launchpad: this aims to address the current inadequacies of launchpad models, concentrating on fostering long-term alignment, nurturing an organic community, maintaining ecosystem health, and integrating delegation features.
• Jupiter Public Seeding: initiative supports communities in investing in new projects through a public venture capital funding model. This enables communal participation in seeding teams from day one while incorporating crucial mechanisms such as vested funding.

What's Jupiter Labs?

Jupiter Labs is a project incubator that aims to support Solana's DeFi ecosystem by nurturing new projects, leaders, and tokens.
Although these initiatives will originate within Jupiter, they are ultimately designed to launch and operate independently.
Jupiter Labs is initiating two innovative projects which are at different stages of development:
• LP <> Trader Perpetuals: This is a novel LP-to-trader perpetual exchange on Solana that offers up to 100x leverage. Utilizing pool liquidity and oracles, ensures zero price impact, zero slippage, and deep liquidity.
Oracles enable stable market operations during liquidations and stop-loss events, removing risks of position bankruptcy and LP pool fund loss.
Users can open and close positions in one simple step, eliminating the need for additional accounts or deposits. With Jupiter Swap integration, any Solana token can be used to open positions.
• xSOL Leveraged Stablecoin: We propose sUSD, a new stablecoin backed by SOL that uses leveraged LSTs as the primary yield mechanism with protocol-level dynamic rebalancing for stability.
Borrowers can mint sUSD using SOL as collateral through interest-free loans with returns from the staked leveraged SOL covering the borrowing costs while providing annualized returns of 7~20% to sUSD holders.
We suggest several mechanisms to further enhance the stability and utility of sUSD, including the USDC-sUSD pool and various sUSD redemption mechanisms.
Thank you so much for reading!
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