Reported by CoinWorld:
**Background**
In June, the airdrops from LayerZero and Zksyncs reached the pinnacle of extreme reverse farming, leading to various dramas and chaos. First, there was LayerZero’s prolonged witch-hunt reporting battle, exposing all sorts of ugly behaviors for the sake of a minor and nearly invisible airdrop profit. Eventually, many reported accounts received only a few ZRO tokens, benefitting no one significantly, while an unknown NFT project received an airdrop of 10,000 ZRO per NFT. Subsequently, Zksync’s airdrop saw a large number of associated addresses sweeping away a substantial amount of tokens, with netizens revealing that stakeholders directly pocketed tens of millions of tokens.
The reverse farming studio was counter-farmed, and retail investors lost confidence, leading to a widespread belief that the farming industry is nearing its end, becoming a sunset industry in the crypto world.
Farming itself is a gray area that harms the crypto market. Airdrops are intended to reward genuine users, but farmers interact solely for the airdrops, creating fake data and bubbles on the protocol and chain, providing investors and entrepreneurs with false illusions, which is detrimental to the industry’s development in the long run.
Rewarding genuine users will become the norm for Web3 projects, with deeper users receiving more airdrops, evaluated on more dimensions beyond just on-chain data.
We eagerly await the future direction of airdrops, but don’t miss out on Jupiter, currently the most certain opportunity.
**$60 Million Airdrop Launching This Week**
On July 2nd, Jupiter’s official X account announced the launch of the ASR airdrop this week. Those who voted on any JUP DAO proposals from March to June will receive passive staking rewards corresponding to their staked JUP and voting activities, totaling $60 million in value.
This includes: 50 million $JUP, 7.5 billion $WEN, 7.5M $ZEUS, 7.5M $UPT, and 750K $SHARK. JUP will be staked automatically, and other tokens can be claimed from the airdrop website once it goes live. Netizens have calculated that for every 1 JUP staked, the airdrop would yield approximately 0.23U, though this data is for reference only.
There are an additional 2.5 billion JUP set aside for airdrops, so keeping an eye on Jupiter is highly recommended.
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**Introduction to Jupiter**
Jupiter is a trading aggregator on Solana, operating since the last bull market, ranking high in trading volume across the crypto market. During Solana’s hot periods, its trading volume even surpassed Uniswap. Later, Jupiter added derivatives trading, where it also ranks first on the Solana chain.
Jupiter’s token JUP has a total supply of 10 billion, with 40% allocated for airdrops. The first round airdropped 10%, and the remaining 30% will be divided into three rounds. Recently, the team announced the burning of 30% of team tokens, reducing the total supply to 7 billion.
Jupiter’s first round of airdrops was the largest in the crypto space this year. The team did not screen for sybils; anyone who interacted received an airdrop, with a minimum of 200 tokens, and some accounts receiving up to tens of thousands. The team avoided any PUA tactics, giving users no pressure. Before the official JUP airdrop, they also airdropped WEN, with individual accounts earning over $300 at peak.
Besides the upcoming 50 million JUP airdrop, there are an additional 2.5 billion JUP set to be airdropped. So how can we position ourselves for Jupiter’s upcoming opportunities?
1. Contribute
The last round saw separate rewards for community contributors, so before the second round, you can participate in project development based on your abilities. For instance:
– Be active in the official DC to earn a contributor role
– If capable, write original articles about Jupiter and publish them on media platforms
– Any other quantifiable or provable contributions
2. Participate in AMA
Jupiter frequently holds AMAs called JUP Calls. During each session, a QR code appears, allowing participants to submit wallet addresses to receive Jupiter NFTs. These NFTs are proof of deep project involvement and may carry weight in future airdrops.
3. Buy and Stake JUP
JUP has retraced from a high of 1.8 to 0.7. You can buy some to stake and participate in governance voting.
Staking and voting link: https://vote.jup.ag/
Staking and voting also offer some JUP and project airdrops, yielding good returns. However, note that unstaking has a 30-day cooldown period.
4. Use Jupiter for Spot Trading
Jupiter integrates major DEXs on Solana, including Raydium, Orca, Lifinity, and Meteora. Most tokens on the chain can be traded on Jupiter. Additionally, Jupiter offers limit orders and dollar-cost averaging features worth trying out.
5. Trade Derivatives and Add Liquidity
Jupiter’s derivatives trading follows the GMX model, where users provide liquidity as the counterparty to earn profits. Currently, its TVL is the highest among Solana’s derivatives platforms, reaching $404 million, with JLP yielding 78%.
Trying out derivatives trading or providing liquidity on Jupiter can also be a good choice.
Future airdrops are expected to reference multidimensional data, with on-chain data being just one aspect. Deep project involvement, contributions to project development, and long-term support will become airdrop criteria.
Jupiter is currently the most promising spot and derivatives trading platform, with massive future airdrops. You can deeply participate or choose suitable ways to engage and capture future airdrop opportunities.
