Jito Airdrop has given 225 million dollars to Solana users

Gito launched the Solana-based Defi platform. A drop of hot air Earlier Thursday, putting $225 million worth of free tokens into the wallets of Solana users around the world.

At 11:00 am EST on Thursday, JTO opened at $6.01. CoinGecko– 90 million tokens set to be released on the platform to loyal users at a valuation of $540.9 million. On CoinGecko, the token soon fell by 58%, to $2.50 as of writing.

Although other crypto data aggregators, including CoinMarketCap and Coinbase, have documented that JTO experienced much lower initial volatility. Those platforms reported that the token opened below $2, suggesting that the price only increased after Thursday morning's crash.

Either way, the airdrop is a big boon for Solana Defi users, with more than 90 million Jeto tokens up for grabs today, with more than 54 million up for grabs. Soul scan. JitoSOL Containers, Solana Validators running Jito MEV Customers, and users of Jito MEV services are all. Eligible to claim tokens. According to Gito, more tokens will be released in the future Road map.

Among Solana whalers, however, there was some grumbling that the airdrop did not disproportionately enrich those who bought big money on Gito. While the airdrop mechanics benefit users with small amounts of Gitosol, some Gito users have defended the strategy, saying it encourages retailers and is more beneficial to Solana's growing DeFi ecosystem.

Adding further frustration to the brutal day, Gito's website appears to have suffered a Distributed Denial of Service (DDoS) attack, in which bad actors flooded the site with traffic to bring it down quickly.

Although the reason behind such an attack is unclear, several crypto projects have reported similar attacks on their sites in recent weeks, with the scammers paying ransom to the projects and getting the site back up and running.

Gito's weather comes after last month's Pyth Network (PYTH) airdrop, in which 250 million tokens were distributed to early contributors—worth a total of about $77 million in one day, but now around $107 million for the booming crypto market.

Next up for Solana could be an airdrop from the DeFi platform Jupiter, which is set to issue JUP tokens to nearly one million eligible users. No date has been set for Jupiter's airdrop.

Edited by Andrew Hayward.