توكنوميكس Jupiter (JUP)

Overview

Jupiter (JUP) is the governance token for the Jupiter Exchange ecosystem on Solana. The maximum supply is 10 billion JUP. The token is designed to facilitate governance, incentivize participation, and support ecosystem growth.

Issuance Mechanism

• Total Supply: 10,000,000,000 JUP were minted at genesis.
• Initial Distribution: Tokens were split equally between team and community wallets.

Allocation Mechanism

• Launch Pool: 250 million JUP (2.5%) allocated to a single-sided USDC-JUP DLMM pool for the initial sale, locked for 7 days.
• Airdrop: The first airdrop targeted users who interacted with Jupiter before November 2023. Future airdrops are planned for "Jupuary" (January).

Usage and Incentive Mechanism

• Governance: JUP is intended for voting on ecosystem decisions (e.g., launchpad projects, disputes, grants). As of early 2024, full governance functionality was not yet operational.
• Staking & Rewards: Users can lock JUP to receive voting power and participate in DAO governance. Active Staking Rewards (ASR) are distributed quarterly, sourced from platform and launchpad fees. Rewards are proportional to voting power, not voting outcome.
• Liquidity Provision: JUP is used in liquidity pools, especially during the launch phase, to bootstrap trading and price discovery.
• Platform Fees: Jupiter itself does not charge protocol fees, but integrators can set platform fees on swaps. These fees are collected in the output or input token, depending on swap mode.

Locking and Unlocking Mechanism

• Team Allocation: 1-year cliff, then vests over 2 years.
• Strategic Reserve: Locked for at least 1 year, with a minimum of 6 months' notice before any liquidity event.
• Launch Pool: Tokens locked for 7 days during the initial sale.
• Airdrops & Grants: No public vesting or locking schedule disclosed.

Unlocking Time

• Team: Unlocks begin after 1 year, then linear vesting over 2 years.
• Strategic Reserve: No unlock before 1 year; any unlock requires 6 months' advance notice.
• Launch Pool: Unlocked after 7 days from the start of the sale.
• Community Allocations: No specific unlock schedule disclosed.

Summary Table

Additional Notes

• No protocol fees are charged by Jupiter, but integrators can set their own.
• DAO and governance are evolving, with staking and voting mechanisms being rolled out.
• Transparency: Some allocations (e.g., airdrops, grants) lack detailed public vesting schedules.

For further details, see Jupiter's official documentation and governance portal.