JUPUARY 2026 UPDATE This is the FINAL Jupuary my friends. The Jupiter team keeps emphasizing that this is a reset, a fresh start. Let’s dive into it. 1) Only 200M JUP airdrop - Instead of 700M JUP → 200M - Huge reduction in sell pressure - Snapshot on January 30th, 2026 - Users of fee-paying products will be considered for airdrop - Perps, Ultra Trading (via Pro or Mobile), JUP Lend, Prediction Markets, and Studio users are all eligible, and possibly others 2) Another 200M JUP go to stakers - JUP holders who stake and hold get rewarded all year. If half the people sell, those who stake get ~3× more (Loyalty gets rewarded) - The team learned from last year's sell pressure and panic selling 3) Another 300M for JupNet Incentives - JupNet is strategically critical for Jupiter’s future - It brings the entire ecosystem into Jupiter’s new infra layer - These tokens have zero short-term sell pressure - Locked/vested for the future TLDR: Bullish. Just use Jupiter. I’ll share my honest thoughts below.

Sensei's reflections on Jupuary - People need to zoom out. This is a long-term move. If you actually care about this community, sacrificing short-term airdrop bait to strengthen the JUP ecosystem totally makes sense. - We now have no major unlocks in 2027, which is bullish for investors, builders, and the JUP narrative. - Farmers being disappointed is fair, but tbh, I'd never recommend farming Jupiter or any protocols. I use Jupiter because I rely on the best tech every day. The airdrops have always just been extra, unexpected blessings. - Could this have been communicated earlier? Yep, probably. But the market moved fast, and the shift toward adding real value to JUP holders and stakers is super recent, so I get it. - World class Jup infra needs a world class performing token, the shift towards adding value to holders/stakers is vital. - I love that Jupiter is already past the airdrop-farmer phase while competitors are just entering it. They don’t need insane incentives anymore; execution and tech alone bring users. They’ve already given more than anyone on Solana and proved themselves.