اقتصاد توکنی Jupiter (JUP)

The Jupiter (JUP) token is the governance token for the Jupiter ecosystem, a decentralized exchange aggregator on the Solana blockchain. The maximum token supply for JUP is 10.00 billion.

Issuance Mechanism

The JUP token was minted with a total supply of 10.00 billion JUP, which was split equally between the team and community wallets.

Allocation Mechanism

The total supply of 10.00 billion JUP is divided into two primary allocations: Team Allocation and Community Allocation, each receiving 50% of the total supply.

Key Allocation Events:

• Open Market Sale/Launch Pool: An open market sale of JUP tokens began on January 31, 2024, utilizing a single-sided USDC-JUP Dynamic Liquidity Market Maker (DLMM) pool on Meteora, with a starting price of $0.40 per token.
  • 250 million JUP (2.50% of the maximum supply) from the team's "Liquidity Provision" allocation were used for this launch pool.
  • Jupiter was required to pay 100 million JUP in launch pool fees to the LFG Launchpad, with 75 million JUP going to the Jupiter DAO and 25 million JUP going to the core project team.
• Airdrop: The first airdrop was targeted at users who interacted with Jupiter before November 2023. 1.00 billion JUP were withdrawn from the community wallet for the first airdrop and near-term community needs.

Usage and Incentive Mechanism

The primary use of the JUP token is for governance within the Jupiter ecosystem.

• Governance: JUP tokenholders are intended to vote on crucial ecosystem items, including launchpad projects, strict list disputes, and grants. However, as of February 2, 2024, no verifiable evidence was found to suggest that JUP's governance functionality for tokenholders is operational.
• Liquidity Provisioning: Jupiter's LFG Launchpad facilitates token launches and trading through an airdrop mechanism, a Dynamic Liquidity Market Maker (DLMM) pool on Meteora for liquidity, and tools for designing liquidity pool price curves. While a liquidity provisioning mechanism exists, a commercially reasonable search found no evidence of a staking mechanism.

Locking Mechanism and Unlocking Schedule

The JUP token allocation includes specific locking and vesting schedules for the team's portion of the supply.

• Team Members Allocation (20.00%): This allocation will vest over two years following a one-year cliff.
• Strategic Reserve Allocation (20.00%): This allocation will be locked for at least a year, with a minimum of six months' notice required before any liquidity event can occur.
• Community Allocation (50.00%): No verifiable information regarding a vesting schedule for the Airdrops (40.00%) or Contributors and Grants (10.00%) allocations was found.

Future Token Unlocks

The following table details the known future token unlock events for Jupiter (JUP), including the date, the amount of JUP to be unlocked, and the estimated impact on the circulating supply.

The data shows a series of monthly unlocks of approximately 53.47 million JUP, representing a 1.68% impact on the circulating supply, starting in January 2026. Larger unlocks of 200 million JUP, which represent a 6.27% impact, are scheduled for February 28, 2026, and January 31, 2027.