Wen (WEN) is a Solana-based memecoin born from a poem, used for tipping creators and governance in the Wen DAO, created by Jupiter DEX's team.
Wen is a Solana-based memecoin that originated from a poem.
Each WEN token represents a small piece of the poem “A Love Letter to Wen Bros”. Written by Meow, the pseudonymous creator of the Jupiter decentralized exchange (DEX), the poem was the first NFT minted using the WNS standard that was then fractionalized into tradable tokens.
The WEN memecoin was developed by the Jupiter team as a means to test the community before they airdropped Jupiter’s native token, JUP, to the DEX users.
The WEN token can be used for tipping creators online and as a governance token for the Wen decentralized autonomous organization (DAO) to vote on decisions regarding the future of the DAO.
Who created Wen?
Wen was created by the team behind the Jupiter DEX to test out its airdropping mechanics before the release of the JUP token.
Prior to the launch of JUP, Meow mentioned in several interviews that he was asked countless times online about "Wen token" and "Wen airdrop", prompting him to write “A Love Letter to Wen Bros” in December 2023.
Meow's poem became a hit within the community, prompting them to mint the poem as an NFT. Lacking expertise, Meow delegated the minting process to the Ovols team (a Solana-based NFT project), who minted the poem and divided the NFT into 1 trillion tokens, with each token representing a fractionalized ownership of this poem.
How Does Wen Work?
At its core, WEN was developed by the Jupiter team as an experimentation before airdropping Jupiter’s native token, JUP.
The “A Love Letter to Wen Bros” poem was minted using the WNS standard, a new standard aimed at streamlining the NFT creation process by lowering costs, increasing NFT flexibility, and allowing for cross-platform compatibility. The WNS standard comes with a Token Extension program that enables NFTs to be fractionalized into tokens.
The poem was fractionalized into 1 trillion WEN tokens and distributed to several Solana communities, including Jupiter DEX users and blue-chip NFT holders, on Jupiter's LFG Launchpad to stress test the launchpad ahead of the JUP release.
Wen seamlessly integrates with the broader Solana ecosystem so that it is compatible with various wallets, exchanges, and many decentralized applications (dapps), and is used for:
Tipping and rewards: Built to foster a culture of appreciation and support, WEN is used to tip content creators and to reward engaged community members that participate in online discussions, events, and other initiatives.
DeFi functions: Wen can be traded for other cryptocurrencies and used in yield farming strategies to earn additional rewards.
WEN Tokenomics
WEN has a total supply of 1 trillion tokens, distributed as follows:
Community: 55% — 550,000,000 WEN
Contributors: 22% — 220,000,000 WEN
Investors: 18.8% — 188,000,000 WEN
Advisors: 1.2% — 12,000,000 WEN
Treasury: 3% — 30,000,000 WEN
The WEN team airdropped 70% (around 700 billion) tokens during a three-day distribution. After the airdrop period ended, all unclaimed WEN were destroyed, which accounted for around 27.24% of the total supply.
Wen essentials
Wen is a Solana-based memecoin that originated from a poem, fractionalized into 1 trillion tokens.
The token was created by the Jupiter team to test its airdropping mechanics before the launch of their native token, JUP.
WEN is used for tipping creators, community engagement, and DeFi functions like trading and yield farming.
700 billion WEN tokens were airdropped, and unclaimed tokens were burned, reducing the total supply.