The largest DEX Aggregator with the largest number of users and trading volume on the Solana ecosystem at the moment is Jupiter Exchange, which has confirmed the launch of tokens as well as airdrops for their users for a long time. build. In this article, Weakhand will provide a prediction of Jupiter Exchange’s floor List price and through that people can sell the airdrop at the most optimal price.
Overview of Jupiter Exchange
Jupiter Exchange is a DEX Aggregator platform built on the Solana ecosystem, helping users find the best price for each transaction. To do this, Jupiter has connected liquidity from all AMMs on the Solana ecosystem such as Raydium, Orca,…
Initially, the Jupiter team only oriented the project development towards DEX Aggregator, but now the team also produces many other products such as:
- Limit Orders: Allows bidding to buy tokens on Solana at a fixed price.
- DCA: Enable people to set recurring buying strategies.
- Bridge: A combined product with CCTP and Wormhole that allows people to transfer assets to Solana.
- Perpetual: A Perp DEX that works with the same mechanism as GMX V1.
Factors Affecting JUP Price
Tokenomics
JUP’s Allocation Token is divided quite simply, consisting of only 3 main components:
- Airdrop: 40% (unlock 10% at TGE).
- Contributors and Grants: 10% (unlock time unknown).
- Team & strategy: 40% (lock 1 year and vesting for 2 years).
- Liquidity Provison: 10% (will be used in the first year).
The portion of tokens distributed for community development will be shared into 4 different parts for 4 airdrops. 10% will be used for the first airdrop called “Community Airdrop”, the remaining 30% will be used for airdrops for the purpose of protocol development.
The tokens distributed to Team & Strategic will be locked for a period of 1 year and vested for the next 2 years. Jupiter’s team has the full right to decide the purpose of using this token allocation for purposes such as recruiting or selling to investors.
Team Jupiter Exchange also mentioned that it will use 10% of the Liquidity Provison portion in the first year. There is a high possibility that this portion will be vested and used to lend to Market Makers with the purpose of improving JUP’s liquidity.
Thus, at the time of TGE, only 10% of the total supply of JUP in circulation came from the Community Airdrop allocation. Therefore, the initial circulating supply will be held by the community and there will be no selling force from the team or VC.
Backer
According to some published information, Jupiter Exchange has undergone only one round of capital raising of $5M from White Hilt Capital investment fund. However, information from this investment fund is almost absent on the internet and the special thing is that the fund currently only invests only in Jupiter.
Jupiter products
Among the products that have been launched at the present time, perhaps the Perpetual platform has a mechanism of JLP that is quite similar to GLP of GMX V1. Currently, JLP holders will receive 70% of the fees from the protocol, the remaining 30% will most likely be used to distribute to users who stake JUP.
Looking back in the past, GMX has proven how effective it is when there were times when this protocol’s fees surpassed Uniswap, AAVE,… to rank at the top 1 in the market. Up to now, JLP has also achieved some success when interest rates are fluctuating at more than 100%.
In addition, Jupiter Exchange is also developing a new product called Jupiter Start, this is a set of 3 products that help projects in the ecosystem deploy Launchpad through Jupiter itself.
JUP token holders will likely enjoy special benefits such as Whitelisting IDO purchases from Jupiter Start similar to the previous Raydium platform. Raydium is probably the most successful Laucnhpad name on the Solana ecosystem when there have been huge growth projects such as Star Atlas, Genopets, DeFi Land,…
Solana ecosystem
The end of 2023 witnessed a strong return of the Solana ecosystem in all aspects, including DeFi projects, NFTs or infrastructure. Jupiter Exchange’s announcement of the token launch at this time is very reasonable as the project can inherit the network effects from the Solana ecosystem.
Jupiter Exchange Floor List Price Prediction
Talking about Jupiter Exchange’s influence on the entire Solana ecosystem, we can compare it to 1 inch of the DeFi ecosystem on EVM Blockchains in the past. Therefore, if we compare the price of JUP with 1INCH, it will not be lame.
|
Header
|
1 inch |
jupiter price |
|---|---|---|
|
FDV at TGE |
$3.54B |
$0.354 |
|
FDV is at ATH |
$11.17B |
$1.11 |
|
Current FDV |
$525M |
$0.0525 |
JUP’s OTC and Pre-listed trading price at the moment is fluctuating around $0.64 per token. From the above factors, we can predict that Jupiter’s floor price will most likely fluctuate around $0.35 to $1.
However, because the Solana ecosystem is quite FOMO at the moment, it is very likely that JUP will grow stronger. The most typical example recently is the name JTO which was listed on the floor recently when FDV surpassed the leading name in the Liquid Staking niche, LDO, at an ATH of $4.3B.
Summary
Above is the prediction of Jupiter Exchange’s floor list price from Weakhand. Hopefully, through this article, people can sell JUP from the airdrop at a reasonable price or continue to hold JUP to participate in activities. future project verb.
