Everything you need to know Jupiter's Upcoming Airdrop, Jupuary

What Is Jupuary?

Jupuary is Jupiter’s annual airdrop event for their governance token, JUP. The first Jupuary happened in January 2024 where they airdropped a billion JUP tokens worth over a billion dollars to over a million crypto wallets.

Jupuaries are scheduled to happen every January, with the team originally planning for 3 more Jupuaries. As of now, only Jupuary 2025 and 2026 are confirmed. With Jupiter’s second airdrop fast approaching in January 2025, here’s everything you need to know about it, how Jupuaries came to be, and what it means for the future.

The 2025 Jupiter airdrop checker is now live at: https://jupuary.jup you may check out Jupiter's X post here for more details on the exact token allocation criteria.

Key Takeaways

• Jupiter’s airdrop event, Jupuary, has been officially confirmed to happen in January 2025 and 2026.

• This airdrop seeks to “grow the pie”, inviting more users to participate in JUP DAO, one of the world’s most active and consequential decentralized autonomous organizations.

• The airdrop will likely happen in mid January, closely followed by Jupiter’s conference event, Castanbul in late January, where 30% of JUP’s token supply will be burnt live.

Jupiter Governance

The launch of JUP saw the Jupiter decentralized autonomous organization (DAO) grow into one of the most active and vocal DAO communities in all of crypto. This was made possible through Jupiter’s unique method of incentivizing participation, Active Staking Rewards (ASR). ASR distributes JUP tokens quarterly to JUP stakers based on how many tokens they have staked and how many governance votes they have participated in. Inactive stakers who do not vote at all will receive nothing through this system, thus heavily encouraging participation.

The success of ASR made the Jupiter DAO an extremely effective method to gauge community consensus and support. As a result, Jupiter’s eccentric founder, Weremeow, decided to make many important decisions regarding Jupiter’s future through community governance proposals. This led to many community discussions and changes to JUP’s tokenomics, including the aforementioned Jupiter airdrop event, Jupuary.

Fun Fact: Cats are the animal mascots of Jupiter and the Jupiter team refers to Jupiter community members who have shown consistent dedication to helping others, experimenting with DeFi and getting active in the Jupiter Community as "Catdets".

Notable Jupiter Governance Proposals

Here is a summary of some of the most important and consequential Jupiter governance proposals. Governance proposals are discussed at a forum here before they are officially put up for a community vote.

J4J #1: Supply Reduction Proposal

With a Fully Diluted Valuation (FDV) over $10 billion, some users are worried that this creates a lot of uncertainty with JUP’s future price. In comparison, JUP’s current market capitalization at the time of writing is only $1.5 billion. This meant that future emissions of the JUP token could create high amounts of downwards price pressure on JUP.

To address this, Weremeow proposed to the community if they were okay with reducing 30% of JUP’s maximum token supply.

This would be achieved by:

• A voluntary 30% reduction in the team’s allocation of JUP

• A 30% reduction in Jupuary emissions (airdrop reduction)

• Corresponding reductions in liquidity pool and strategic reserves

This proposal was passed, meaning that JUP’s maximum token supply would gradually be reduced down to 7 billion instead of 10. This change would decrease JUP’s FDV by at least $3 billion at current market prices. Read our article on FDV here to understand more about how FDV affects token prices.

J4J #2: Utilize Excess Jupuary for ASR

The community votes on what to do with the unclaimed JUP tokens from Jupiter’s first Jupuary airdrop, which is worth around $215 million.

Three options were proposed:

1. Fund 1 more year of ASR with 50 million JUP tokens per quarter

2. Burn the tokens

3. Return the tokens to the community multisig wallet

Option 1 was chosen, ASR will continue every quarter till at least September 2025.

J4J #3: Jupuary Vote 1

In November 2024, Weremeow put the decision to proceed with another 2 years of JUP airdrops to the community. Because airdrop events have extreme implications on the JUP token, Weremeow requires that for this vote, a super majority decision of over 70% is required in order for this vote to pass. This decision would supersede the team’s initial plans of three more Jupuaries.

The first Jupuary vote asked the community if they were comfortable with 2 more years of Jupuaries with the caveat being that JUP staking activity not being considered as an airdrop criterion. This caveat caused heavy disagreement within the JUP community especially for JUP whales as they would be heavily diluted. As a result, a supermajority was not reached (>70% saying yes) and vote 1 failed to pass.

J4J #4: Jupuary Vote 2

After going through community feedback, Weremeow and the Jupiter team revised the Jupuary proposal and held a second community vote. This time, the team explicitly states that JUP staking and voting will be an airdrop criterion.

The second proposal passed with 87% saying yes, guaranteeing that 2 more Juparies (JUP airdrops) will happen, one in January 2025 and the one more in January 2026.

Jupuary 2025

Here are some important facts about Jupuary 2025, before we dive into the all important airdrop criteria!

The First Community Approved Airdrop

Jupuary 2025 is the first if not at least the most prolific and large crypto project that decided to put their airdrop decisions to a community DAO vote. Normally, all airdrop decisions are made internally by the team members of a crypto project with limited room for community input, often leading to disappointment. Although the Jupiter team still has the final say on the exact airdrop criteria, this time, discussions on the general considerations of the airdrop criteria were openly discussed and debated as seen from Jupuary votes 1 and 2. Overall, this means that community support for this upcoming airdrop is likely to be high given that it has been greenlit by most of the community members themselves.

Jupiter founder Weremeow kicked off Jupuary Vote 2 in a livestream, addressing feedback live as they came through.

It's time, and we will do it live.

The second jupuary vote will kick off in ~11 hours at 330am UTC and run for 4 days.

Over the past week. we have painstakingly reviewed thousands of verified voter feedback and discussions from all channels - discord, twitter, reddit, forum and…

— meow (@weremeow) December 3, 2024

Player Pump Player (PPP) Tokenomics

PPP is the acronym that represents the idea that drives Jupiter’s vision for the future of the JUP token and thus all future Jupuaries as outlined in an essay written on Weremeow’s blog.

Derived loosely from the gaming term Player versus Player (PvP) which in the context of crypto, describes the adversarial environment where individuals are often self-serving at the cost of others. PPP is the antithesis of PvP, it is the idea where the community encourages and pushes each other to succeed rather than to pull them down or backstab them.

To achieve PPP, the team has committed to:

• Community audits for the JUP token every 6 months to publicly review JUP’s token distribution

• Minimum 2 years vesting for all team members till 2026

• Strict 50/50 tokenomics allocation (The team never gets more than 50%)

• 100% disclosure of token sales

• DAO voting on all crucial JUP token measures (this includes Jupuary)

The intention behind all these measures is to build trust in the JUP token, to assure users that they are not being “dumped on” by investors and team members.

Catstanbul 2025

Catstanbul will be Jupiter’s first conference event held in Istanbul, Türkiye on January 25 2025. There will be major products, future roadmaps and partnerships revealed during the event. Notably, the team will also conduct the 30% token burn (from the supply reduction proposal) live on stage during the event. In the spirit of PPP, tickets to Catstanbul will be free, additionally, 500 participants will receive up to $2,000 of travel subsidies each.

It is likely that Jupuary 2025 will be tied in with Catstanbul in some way given that January is the thematic month for Jupiter. It is likely that there will be revelations about the future of JUP’s tokenomics announced during Catstanbul.

1/ Mark your calendars 🗓️

Catstanbul 2025, the first-ever Jupiverse conference will on the 25th and 26th of January, in Istanbul, Turkey.

Here's a quick rundown of the event -- pic.twitter.com/Ih8rOq4KW7

— Jupiter 🪐 (@JupiterExchange) November 16, 2024

Airdrop Criteria Considerations

As part of Jupiter’s promise of token distribution transparency to the community, the team openly discusses and shares how they intend to distribute their token. Based on discussions so far, here are the key considerations.

Preliminary Considerations

These are the airdrop criteria that was initially shared by the team in November 2024 before Jupuary has been officially confirmed.

Volume

Trading volume across Jupiter’s entire range of products in the past year (till the snapshot in November 2024) will be aggregated and considered. The team will do their best to filter out bot transactions/junk volume.

Anti-Sybil Mechanisms

Jupuary 2025 will not be like Jupuary 2024 as Jupiter’s airdrop has been purposefully farmed by airdrop farmers in the past year. The Jupiter team will be taking considerable effort to sieve out real users from sybil users. The team is exploring options such as:

• Analysing on-chain activities of a wallet

• Analysing their fee paying activities

• Profile submission system

• Potential KYC requirement (privacy will be their top concern)

Key Considerations

With the passing of Jupuary vote 2, the team revealed further details on the upcoming airdrop’s criteria in a podcast in December. Here is a summary of what was shared.

The team plans to award the JUP airdrop to users who fall in any of these four categories.

Users

The first category is simple, users of Jupiter’s wide range of products will be rewarded based on their usage. The team also shared an interesting statistic which can help you see where you stand as a user.

Are you a power user?

Stakers and Voters

After the passing of Jupuary Vote 2, it has been confirmed that there will be “explicit allocation for stakers, with bonus for historical consistency (constant participation”. The team shares that they currently plan to allocate around 10-20% of the airdrop to stakers with the remaining 80-90% still allocated to Jupiter Users. The team is also considering a bonus allocation for those who did not unstake any JUP and for those who participated in all 17 JUP DAO votes.

Carrots

A portion of the airdrop will be set aside to encourage certain user behaviors even after token claims go live.

• Some bonus allocations for users who continue to hold on to their airdrop (Jupuary 2025)

• A bonus for those who buy/increase their staked JUP holdings

• A portion of the “Carrots” allocation will also be used to compensate users who are misclassified as bots

Good Cats (Love for the Community)

This category seeks to reward the qualitative contributions of users to the community. 

A form submission is likely required where users detail how they have contributed positively to the Jupiter community (Yap-To-Earn?). Submissions will be reviewed, and approved applicants will receive additional JUP.

Jupuary Draft 1

The Jupiter team unveiled the first draft of Jupuary allocations on 26 December 2024 on a podcast, J.U.P Rally. Below is a summary of what was shared, the exact amounts are subject to change after going through community feedback.

An overview of the upcoming token allocation, a total of 700 million JUP will be distributed.

Initial number of wallets eligible.

Excluding stakers, the number of wallets eligible for simply using Jupiter to trade tokens is roughly 2.3 million after initial sybil filtering.

Initial tiering allocations for Jupiter swap users.

According to this draft, a user would have to swap at least $800 worth of tokens before the snapshot in November 2024. There are heated discussions on this section, it seems that more tiering may be added and that the minimum volume to qualify may be raised.

Expert traders tier allocations. Expert traders refer to traders who use Jupiter’s perpetuals exchange.

Exact details for what the minimum volume to qualify for this section is unknown.

JUP staking allocations.

All stakers should expect to receive about 10% of their staked amount in Jupuary 2025. For active stakers who voted in most of the proposals, stakers can expect a bonus allocation, resulting in receiving about 40% of their staked amount for Jupuary 2025. It is worth noting that the exact amount of JUP staked will be time weighted, meaning that if you had increased your stake throughout the year, an average of that would be considered for your final allocation.

Extra incentives which are categorised as “Carrots”.

There will be a bonus of 50-200 JUP for users who claim and stake their airdrop through JUP Mobile, the platform’s native mobile application. There will also be bonuses to further incentivize participation and staking JUP tokens throughout 2025, exact details on this are not known yet.

Conclusion

As the airdrop draws close, a detailed essay with more details on the airdrop will be shared by Weremeow sometime during Christmas next week. The Jupiter team maintains continuously that the Jupuary airdrops are meant as a gift to their community which they do not wish for it to be airdrop farmed. In order to qualify for this Jupuary and future Jupuaries, it would seem that the best way moving forward is to continue to be a genuine user of Jupiter and qualification should be easy.

Always do your own research and never invest more than you can afford to lose into any cryptocurrency projects. This article focuses on Jupiter's airdrop event, click here to read our article on Jupiter's product offering and features!