Data Interpretation of Jupiter Airdrop Situation: Single Address Earned Over $130,000

Original Author: Frank, PANews

At 10 AM (Eastern Time) on January 31, the Jupiter airdrop claim began. The snapshot for this airdrop was taken on November 2, 2023, and 955,000 wallets that interacted directly with Jupiter are eligible to participate in the first JUP airdrop.

As of February 1, the number of JUP airdrop claim addresses reached 430,000, with nearly half of the users (250,000 claimed) receiving 200 JUP, worth $127. The highest single address can claim 204,450 JUP, valued at approximately $130,000. Based on a unit price of $0.62 at the time of writing, the total peak amount for this round of JUP airdrop reached $870 million, making it the largest airdrop at the beginning of 2024. Through this airdrop, JUP's circulating market cap has reached $837 million, ranking 77th in total market cap (Coinmarketcap ranking).

80% of Total Transactions on Solana Chain

Jupiter is positioned as the liquidity infrastructure for Solana, currently accounting for 80% of the total transactions on the Solana chain. This is similar to the role of Uniswap on Ethereum. Additionally, with the surge in data on the Solana chain, Jupiter has now become the blockchain DEX with the highest monthly active users. Its daily trading volume is only second to Uniswap.

Compared to traditional DEX tools like Uniswap, Jupiter has several advantages in product design. In addition to the traditional swap trading model, Jupiter has launched a Dollar-Cost Averaging (DCA) feature, allowing users to execute more trading strategies. Furthermore, Jupiter has introduced an LP-Traders perpetual contract exchange, which closely resembles CEX in terms of product functionality while retaining the independent characteristics of a DEX. As more users become accustomed to using Telegram bots for on-chain operations, Jupiter's openness and innovation better meet new demands.

The Largest Wealth-Creating Airdrop in History?

Before JUP, Arbitrum and Optimism created a "wealth creation" effect through their airdrops, allowing the public to rediscover the allure of airdrops. In comparison, the largest single address for Arbitrum could receive 10,250 ARB, valued at approximately $13,800 after launch, while the largest single address for Optimism could receive 32,432 OP, valued at about $45,000 after launch. In this round of airdrop, the largest single address for JUP can claim 204,450 JUP, reaching a value of $130,000 after launch. From the perspective of the highest profit address, JUP has undoubtedly become the new "king of airdrops" with the most wealth creation effect.

However, from the profit situation of most addresses, Optimism has 80% of addresses profiting around $700, while Arbitrum has about 70% of addresses profiting around $1,350. In contrast, the majority of claims for JUP are for 200 JUP, approximately $127. From this perspective, the wealth creation effect of JUP is not significant for ordinary interacting users.

Is the Airdrop Season Coming to Solana?

The JUP airdrop has once again brought a wave of excitement to the Solana main chain. On the day JUP opened for airdrop claims, the trading volume on the Solana chain reached $1.46 billion, a 71% increase from the previous day.

In addition to JUP, various airdrop projects on Solana have repeatedly become shining stars over the past three months. In November 2023, the oracle project Pyth on Solana provided airdrops of 250 million tokens, distributing over $77 million to early users. In December, the liquid staking protocol Jito on Solana issued 100 million tokens, peaking at a value of approximately $450 million.

The cost of interaction on the Solana chain is significantly lower than that on Ethereum, making the barrier to entry for interactions on Solana relatively lower. This will also attract more project teams to turn to Solana and open airdrop plans. Upcoming projects to watch for airdrop status include Drift Protocol, Kamino Finance, Tensor, and MarginFi.