Jupiter (JUP) is a cryptocurrency project on Solana that offers a suite of DeFi tools and services aimed at enhancing the user experience in decentralized finance. Jupiter operates as a decentralized exchange (DEX) aggregator that facilitates users in finding the best swap rates across multiple exchanges in the Solana ecosystem.
Beyond simple swaps, Jupiter has broadened its offerings to include innovative features such as limit orders, dollar-cost averaging (DCA), and a decentralized perpetuals trading platform, where users can trade with up to 100x leverage. This platform caters not only to traders but also to liquidity providers who can earn by supplying assets to the perpetuals vault.
Jupiter’s bridging capability, notably with Wormhole, allows for the seamless transfer of assets between Ethereum and Solana, bolstering interoperability. In January 2024, Jupiter expanded its ecosystem by introducing LFG, a launchpad for Solana projects. This initiative is designed to support the development and success of new projects within the Solana network by providing technological and community support, all overseen by the Jupiter DAO.
JUP is the native utility and governance token of Jupiter’s ecosystem, and can be used for transaction fees, staking rewards, and governance voting. Jupiter’s airdrop event distributed JUP tokens among its community members, with the aim of fostering an inclusive and participatory ecosystem.
