Solana’s decentralized exchange (DEX) Jupiter has surpassed the well-known Ethereum-based Uniswap V3 in daily trading volume.
Data from SolanaFloor, a platform powered by Step Finance, indicates that Jupiter has claimed the number one spot across chains with a 24-hour volume reaching an impressive $519.8 million.
New leader emerges
Jupiter’s rise to the top of the DEX rankings is a testament to the growing strength of the Solana ecosystem. With a trading volume surpassing half a billion dollars, it narrowly edges out Uniswap V3, which has recorded $510 million in the same time frame.
Trailing in third place is Komodo Wallet, a decentralized platform that has posted a volume of $216 million and lists just 10 coins.
Orca takes the fourth spot with its decentralized offerings, reaching a trading volume of $184 million.
Expanding ecosystem with airdrops
Jupiter has set Jan. 31 as the official time for its much-anticipated JUP token airdrop. This event is poised to distribute 1 billion JUP tokens to almost a million eligible Solana DeFi users.
The criteria for the distribution of tokens to users will hinge on the level of engagement with the Jupiter platform, including metrics like the volume of trades executed and the frequency of platform interaction.
Moreover, Jupiter is gearing up to introduce a new meme coin, which is slated to function as a practical trial for their newly developed launchpad. It is important to note that this meme coin initiative is distinct from the JUP token initiative and is not a Jupiter original creation.
The JUP airdrop represents just the first phase of an expansive plan to distribute half of the total JUP supply to the community, with additional airdrops and allocations for contributors, reserves and liquidity provisions scheduled for the future.
Read the full article here