Jupiter is a leading decentralized exchange (DEX) aggregator built on the Solana blockchain, designed to optimize and streamline token swaps for users by sourcing the best available prices across multiple DEXs. By aggregating liquidity from a wide array of decentralized exchanges and automated market makers (AMMs), Jupiter ensures users get the most efficient trades with minimal slippage and the most competitive rates, all while leveraging Solana's high-speed, low-cost infrastructure.
Source: XKey Features of Jupiter
• DEX Aggregation: Jupiter combines liquidity from multiple Solana DEXs and AMMs for optimal swaps.
• Advanced Trading Tools: Features include limit orders, DCA strategies, and futures trading with leverage.
• Developer APIs: Jupiter offers APIs for dApps and wallets to integrate swap routing and pricing.
• Yield Opportunities: Liquidity providers can earn fees through the Jupiter Liquidity Pool (JLP).
• Stablecoin Innovation: The upcoming sUSD stablecoin will be backed by liquid staking tokens, offering yield to holders.
• Governance: JUP holders participate in protocol governance and ecosystem decisions.
Jupiter's Ecosystem and Growth
Launched in October 2021 by the pseudonymous developer 'Meow', Jupiter quickly established itself as Solana's default swap provider and has since evolved into a full-stack DeFi ecosystem. The project began with the goal of building the best-in-class swap infrastructure, aiming to become the default swap provider for the Solana ecosystem.
Source: Swaps on Multiple Dexs on JupiterOver time, Jupiter has evolved from being just a DEX aggregator to positioning itself as a "full stack ecosystem." This evolution includes the introduction of additional products, such as a dedicated liquidity pool to support futures trading (called "perps trading" on jup.ag) and the announcement of plans for a yield-bearing stablecoin.
The platform now includes a futures exchange, where users can trade with leverage up to 100x, and a dedicated liquidity pool (JLP) that rewards liquidity providers with a share of trading fees. Jupiter has also announced the development of a yield-bearing stablecoin, sUSD, overcollateralized by Solana Liquid Staking Tokens (LSTs), further expanding its DeFi offerings.
Jupiter's rapid growth is evident in its trading volumes, with the protocol surpassing $47 billion in March 2024, outpacing even some of the largest DeFi competitors on other blockchains. This growth is attributed to Jupiter's dominant position in the Solana ecosystem, where it accounts for approximately 42% of all DEX transactions and holds a 95% share of the DEX aggregator market. The project's commitment to innovation and community-driven development has made it a central pillar of the Solana DeFi landscape.
Source: Perps Trading on Jup.AgThe announcement of the JUP token in January 2024 generated significant excitement within the Solana community, as it was one of the largest airdrops ever conducted on the platform. JUP serves as the governance token for Jupiter DAO, which is referred to as Jupiter United Planet, and its community members are affectionately called "Space Catdets."
How Does Jupiter DEX Work?
Jupiter operates as a DEX aggregator, meaning it scans and combines liquidity from various Solana-based DEXs to find the optimal swap route for any supported token pair. This approach addresses the problem of fragmented liquidity in DeFi, where token values are spread across different pools, often leading to inefficient trading, high volatility, and slippage risks. Jupiter's smart routing engine analyzes all available options and executes trades through the most efficient path, much like a decentralized version of a traditional broker.
Source: Jupiter Limit Orders
Beyond simple swaps, Jupiter offers advanced DeFi tools such as limit orders allowing users to set buy or sell prices in advance and a dollar-cost averaging (DCA) feature, which enables automatic, periodic purchases of tokens. This suite of features makes Jupiter a robust and flexible platform for both active traders and passive investors.
What Is JUP Token Used for?
Source: JupiterJUP is the native token of the Jupiter Exchange crypto platform and its ticker is $JUP. At launch, the circulating supply was 1.35b, with a remaining supply of 8.65b, making for a total supply of 10b. The token supply is split 50/50, with 50% managed by Jupiter for team allocations, a strategic reserve, and liquidity provision, and 50% distributed to the community through several rounds of airdrops as well as a portion for contributors and developer grants.
While it does not serve as a utility token for swaps or platform fees, JUP empowers holders to participate in the governance of the Jupiter DAO (Decentralized Autonomous Organization). Community members, known as "Space Catdets", use JUP to vote on protocol upgrades, emission schedules, launchpad projects, and allocation of ecosystem grants.
How to Buy and Store JUP on BingX
If you're looking to purchase Jupiter (JUP) tokens, BingX offers a user-friendly platform with multiple payment options to facilitate your investment.
Buying JUP on BingX
Follow these simple steps to buy $JUP on BingX quickly:
1. Create a BingX Account: Visit the BingX website or download the app, register with your email, and set a strong password.
2. Complete Security Settings: verify your email and phone, enable two-factor authentication, and complete KYC if required.
3. Deposit Funds: Transfer USDT, SOL, or another supported asset to your BingX wallet. On-chain deposits are generally more cost-effective than direct credit card purchases.
4. Buy JUP: You can purchase JUP directly on the BingX spot market. Here's our guide to help you buy JUP tokens on BingX. For derivatives trading, BingX offers USDT-M and Coin-M futures markets, allowing you to speculate on JUP price movements without holding the token itself.
Storing JUP on BingX
After buying JUP tokens on BingX, store your tokens directly on the BingX platform for convenience and instant access to a wide variety of trading tools. BingX provides institutional-grade security, including cold and hot wallet separation, regular audits, and a 100% Proof of Reserve system to ensure your assets are fully backed.
Note: To securely store your Jupiter (JUP) tokens, transfer them to a self-custodial Solana-compatible wallet like Phantom, Solflare, or Backpack Wallet. For added protection, consider using a hardware wallet such as Ledger to safeguard your assets against online threats.
Conclusion
Jupiter (JUP) is a powerful DEX aggregator and DeFi protocol on Solana, offering users optimized swaps, advanced trading features, and a rapidly expanding ecosystem that now includes futures trading and a yield-bearing stablecoin. The JUP token underpins community governance, ensuring that users have a direct say in the platform's evolution. Whether you're an active trader or a passive investor, Jupiter provides a seamless, efficient, and decentralized way to participate in the Solana DeFi revolution. For those interested in acquiring JUP, BingX offers a secure, user-friendly platform for both spot and derivatives trading, along with robust storage solutions to keep your assets safe.