Jupiter founder defends JUP airdrop after highly anticipated launch sparks backlash
Meow, the pseudonymous founder of Solana DEX aggregator Jupiter, has responded to criticism of the project's massive JUP airdrop, dismissing it as “FUD” and insisting that critics misunderstood the purpose of the launch liquidity pool. As part of the airdrop, 1 billion JUP tokens were distributed to users with a peak value of over $700 million. While the airdrop was successful, with nearly half a million wallets claiming their tokens, it also drew criticism from some crypto influencers who called it a token sale in disguise.
Meow refuted these claims, stating that the 250 million JUP starting liquidity pool set up by the team was intended to benefit JUP holders. He emphasized that all information about the launch pool is publicly available before the airdrop and that users have the opportunity to understand the details before claiming their tokens.
According to Meow, the launch liquidity pool will be available for seven days, allowing anyone to sell their JUP tokens in it. After that, the remaining tokens in the pool, both JUP and USDC, will be withdrawn back to the team's treasury or used to support other liquidity pools.
Meow argued that this approach is fair to JUP holders as it allows the team to demonstrate the value of the token. For those who disagree with Jupiter's approach or are not satisfied with Meow's explanation, Meow explained that they can simply sell their tokens into the starting pool as long as it remains active.
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