Of the 30 tokens Binance listed in 2024, only one has gained value. Jupiter’s native token, JUP, has gained 21.2% since its listing on January 31 and currently has a fully diluted value (FDV) of around $8 billion, according to Coin98 Analytics on the X platform.

Jupiter, a Solana-based decentralized exchange launched in January, has reached a total value locked (TVL) of over $610 million, according to DefiLlama. The airdrop on January 31 was recorded as the largest airdrop in Solana history, distributing $700 million worth of JUP tokens to around 1 million wallets.

Most of Binance’s token listings this year have lost more than 50%. The worst-performing token was Aevo’s native token, AEVO, which was listed in March, losing more than 90%.

Airdrops have been criticized as a token distribution model. Many of the tokens distributed through large airdrops have lost value since the first day they were listed. Additionally, airdrop allocation methods are often opaque, which leads to user frustration.

Do you think airdrops are still an effective distribution model? Share your thoughts in the comments!