In the midst of the frenzy caused by the new memecoin airdrop and the increased activity in stablecoin swaps, the decentralized trading aggregator platform Jupiter on Solana has reached a trading volume of $510 million in the past 24 hours, surpassing Uniswap V3 on the Ethereum chain as the largest DeFi exchange in terms of trading volume. (Note: If the trading volume on multiple chains is combined, Uniswap still ranks first.)
However, most of the trading volume on Jupiter in the past day came from the exchange of SOL tokens for stablecoins USDC and USDT (approximately $200 million), while trading worth around $61 million came from the buying and selling of the memecoin WEN.
According to the WEN airdrop website, the WEN token was created based on fragmented poetry NFTs written by Jupiter founder Meow and was issued through Jupiter’s Beta Launchpad by the NFT technology team Ovols. Each WEN token represents proportional ownership in Meow’s poetry.
Users who meet one of the following conditions are eligible for the WEN token airdrop:
– Completed a trading volume of at least $5 on Jupiter in the past six months (before 8 a.m. Taiwan time on January 19).
– Completed DCA, limit, and perpetual trading orders on Jupiter.
– Holders of Ovols NFTs or blue-chip NFTs.
– Owners of Solana Saga phones (users holding Saga Genesis Tokens).
According to Dune data, there is a total supply of 1 trillion WEN tokens, and approximately 57.90% of the WEN airdrop has been claimed as of the deadline at 11 p.m. Taiwan time on January 29.
Jupiter founder Meow announced that Jupiter will launch its native token JUP airdrop on Wednesday (January 31). This airdrop will distribute 1 billion JUP tokens to early platform users. According to perpetual contract data traded on the decentralized exchange Aevo, the pre-market trading price of JUP was approximately $0.7 as of the deadline, valuing the airdrop at approximately $700 million.
Meow stated that although recently joined Jupiter users will not be able to participate in the upcoming JUP airdrop, the team will conduct more rounds of JUP airdrops from November 2 to the following “Jupuary” (January 31) every year.
Sources:
– CoinGecko
– WEN airdrop website
– Dune data
– Image source
