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Reflecting on the Jito Protocol Airdrop

Reflecting on one of the biggest airdrops of the year:

  • The airdrop is now trading between $16,000 and $240,000.
  • The JTO token is currently trading around $3.40.
  • 30% of eligible addresses for the airdrop generated between 100 and 968 points on Jito.

Looking back at the Jito protocol airdrop

The excitement surrounding airdrops has skyrocketed in recent weeks, and Jito, a liquid staking protocol, has played a significant role in this.

To give you some context – several months ago, the protocol implemented a ranking system that worked with a points system. In essence, users who interacted with the protocol could generate points. For each JitoSOL staked on Jito, users would earn one point per day.

Things escalated recently after Jito announced the launch of its native token, JTO, stating that 10% of its supply would be distributed to the community through an airdrop, which amounts to a whopping 100 million tokens.

The most lucrative airdrop on Solana?

To be eligible for this airdrop, users had to generate a minimum of 100 points on their Jito account. In total, nearly 10,000 addresses were eligible, which is relatively low considering the number of users who interacted with the platform in recent months.

However, this worked in favor of eligible individuals as a larger number of tokens would be distributed among a relatively small user base. To give you an idea, the minimum rewards were 4941 JTO per user.

In other words, if you had deposited 1 SOL on Jito and maintained your position for 100 days, you could have received 4941 JTO completely free of charge. So you can imagine the rewards for those who deposited a larger amount.

For example, users who generated between 20,549 and 69,024 points were able to receive 13,817 JTO, while the top point holders could claim 104,391 JTO each.

Here are the distribution details for the 10,000 eligible addresses:

The price of JTO after its market launch

Having JTO is great, but at what price were users able to trade it at its market launch?

Moments after its listing, the price of JTO surged from $0.30 to over $1, before surpassing $2.40 a few minutes later, ultimately settling around $1.75.

As a result, all eligible airdrop recipients were able to walk away with a minimum of several thousand dollars, with most receiving amounts above $8,000 (assuming they sold their entire airdrop).

For those who held onto all their tokens, their rewards are currently worth more than $16,000 at minimum.

Remarkable performances for Jito and its token

Today, the JTO token is trading around $3.40 and has a market cap of approximately $400 million, ranking it 124th among the largest cryptos.

As for Jito, it currently has over $467 million in total value locked (TVL), making it the second-largest protocol within the Solana ecosystem, second only to Marinade Finance.

And now, what’s next?

It’s frustrating to think that with just 1 SOL, you could have walked away with several thousand dollars without any effort.

However, it’s worth noting that other protocols, whether on Solana or other blockchains, are also preparing to launch their own airdrops. All you have to do is step up your efforts and get involved as soon as possible.

To access our detailed guides on upcoming airdrops:

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