What is Jupiter ($JUP)?
May 27, 2024

Launched initially as an experiment, providing the first cross-protocol liquidity swap on Solana, Jupiter has solidified itself as the most, if not the most, important protocol on Solana.

Jupiter's main product is an aggregator that provides users with the best pricing and execution for assets across various liquidity pools on Solana and beyond, all within a simple and sleek UI. But the list doesn’t end there, as Jupiter tackles a massive problem plaguing the DeFi space.

The status quo experience within DeFi is very fragmented, with a seemingly endless amount of dApps across many different chains. This has proven problematic for new participants as it creates confusion, fragments liquidity, and increases the risk of exploitation.

Product suite

By hosting several of the most essential products within a single interface, Jupiter alleviates the need for users to install different wallets, bridge funds, and manage their portfolios with dozens of open tabs on their desktops.

The Jupiter dApp suite includes:

  • Swap function that aggregates all the liquidity that resides on Solana;
  • Limit orders that let users set buy and sell orders based on a specific price of an asset;
  • DCA tool for the more pragmatic investor;
  • Bridge aggregator;
  • Perps for the more advanced participants features leverage trading;
  • The LFG launchpad for new token launches

Infrastructure

Swaps are executed using a novel routing mechanism, which enables Jupiter to find routes from a vast number of DEXes with the best swap rates and minimal slippage.

Jupiter not only offers users a superior trading experience but also provides developers with a comprehensive and robust SDK, API, and on-chain program instructions to allow other protocols to use its infrastructure.

Other protocols can use Jupiter on their platform through the V6 API to fetch prices and token lists and perform swaps. Integrators can even utilize Jupiter to process payments through its Payments API.

$JUP

Jupiter employs a very straightforward approach to tokenomics. The team manages half, and the other half is handed to the community. The token was generously airdropped to more than 600,000 addresses in the first round.

The initial circulating supply is 1.35B, with the tokens distributed as such:

  • 1B for the airdrop
  • 250M for the launchpool
  • 50M for loans to CEX market makers
  • 50M for any immediate needs

$JUP serves as the governance token for the Jupiter ecosystem. The goal is to bolster a strong DAO governed by $JUP that will, over time, take on more crucial decisions, including launchpad projects, strict list disputes, grants, and more.

The quality of the products and the pace at which they are released signal that the team consists of highly skilled developers. Meow, a co-founder of wBTC and former advisor of Instadapp, Kyber, and Blockfolio, leads the team.

As Solana's DeFi ecosystem continues to gain momentum, Jupiter is well-equipped to support and expedite its adoption. On that note, the team has created a landing page with a user-friendly, step-by-step guide to help newcomers get onboarded into the Solana ecosystem. The guide consists of the most popular and new projects so newcomers can jump right into the action.

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