Jupiter Exchange to Release JUP Token on Solana Blockchain
Jupiter Exchange, the swap aggregator on the Solana blockchain, has announced that it will be launching a new token called JUP. This announcement was made at the BreakPoint conference in Amsterdam. Although the release date for the token has not been disclosed, the Solana community is already showing excitement about the upcoming launch.
Eyes on the Rewards
The reason for this excitement is that Jupiter Exchange has revealed that 40% of the total JUP supply will be airdropped to users who have contributed to the protocol. Airdrops are a process where free tokens or coins are sent to specific addresses that meet certain criteria. As a result, there has been a surge in user activity on the Jupiter DEX, with total transactions and trading volume reaching new highs.
USDC Enters the Picture
In addition to the JUP token, Jupiter Exchange has also announced plans to integrate Circle’s Cross-Chain Transfer Protocol (CCTP) powered by Wormhole. This integration will bring native USDC (USD Coin) to the Solana blockchain, providing increased liquidity and simplified transfers for users.
Solana has been making significant progress recently, with partnerships including Amazon AWS and the introduction of Firedancer, a scaling solution to address network outage challenges. These developments have helped restore trust in the Solana ecosystem, as indicated by the increase in Total Value Locked (TVL).
### News source: ambcrypto.com