Jupiter is one of the blockchain projects on Solana that has attracted the attention of investors in the Crypto market in 2024. If you are interested in this project, please join Unich Analysis to explore all the overview information about the Jupiter project and Jupiter Coin in the article below.

Overview of Jupiter project 

What is Jupiter?

Jupiter (JUP) is a DEX Aggregator project built on the Solana blockchain platform. This project was launched in October 2021 with the aim of helping users aggregate liquidity, and perform swap transactions on Solana with the best fees and low slippage, thereby saving optimal costs. In addition, Jupiter also integrates a number of other features such as Limit order, DCA, Bridge, etc. to bring a better experience to project participants.

Currently, Jupiter has supported most DeFi platforms, integrated almost the entire AMM and Wallet ecosystem on Solana, and become the top choice for investors trading on this blockchain ecosystem. As of March 2024, Jupiter’s trading volume has reached 47 billion USD.

Jupiter’s operating mechanism

Jupiter operates according to 2 main mechanisms, including smart routing and Multi-hop routes. Specifically as follows:

• Smart-routing: This mechanism allows all DEX and AMM markets on Solana to connect directly to each other, regardless of the provider. Accordingly, this feature automatically searches for direct routes and performs direct transactions between most token pairs on Solana without intermediaries, helping users save costs and transaction time.
• Multi-hop routes: This feature helps users enjoy the best transaction prices through Jupiter’s routing department. Specifically, this router uses multi-hop paths through an intermediary token to find the best price.

Jupiter Ecosystem

The Jupiter ecosystem consists of 3 main components: DEX Aggregator, Perp DEX, and Stablecoin (SUSD), specifically as follows:

• DEX Aggregator: When a user requests a transaction, Jupiter will choose the best trading direction on multiple Solana DEXs to minimize slippage. Then, the user receives the desired token in return.
• Perp DEX: This feature allows users to open leverage orders with a maximum ratio of 100 times, place Take-Profit orders and Stop-Loss orders as desired. In addition, this feature also allows users to deposit assets into Jupiter’s liquidity pool and receive JLP corresponding to that amount of assets, users can use JPL to execute DeFi protocols and make profits.
• Stablecoin (SUSD): Allows users to deposit SOL into Jupiter and receive Stablecoin SUSD in return. Then, Jupiter deposits this SOL into LST Token protocols and continues to deposit LST Tokens into lending protocols to borrow SOL to bring high profits to users.

Jupiter products?

As of July 2024, Jupiter offers 5 main products including Swap, Limit Order, DCA, Bridge, and Perpetual. Specifically, each product is as follows:

Swap

This feature allows users to swap SPL tokens with low fees and low slippage.

Limit Order 

It allows users to place orders to buy or sell tokens at a specified price, similar to a centralized exchange. This helps users avoid the risks of slippage and trade at the best price.

In addition, this feature also allows users to set the order matching time with the desired price, if the actual price does not match the preset price, the order will be canceled.

DCA

DCA allows users to set up automatic token purchase mode according to the price range within a fixed period of time. You can preset time frames by minute, hour, day, week, or month.

Bridge

Allows users to bridge tokens from Solana to other EVM blockchains and non-EVM blockchains such as Ethereum, BNB Chain, Arbitrum, Tron, etc. with the cheapest fees and lowest slippage.

Perpetual

The Perpetual feature allows users to trade futures contracts with Jupiter-supported tokens with high leverage, up to 100 times.

In addition to the above products, Jupiter is about to launch a new product called Jupiter Star. This is a platform that provides support services for new projects on Solana such as Learn2Earn, Pre-listing, Launchpad, etc.

About Jupiter Coin

What is Jupiter Coin?

The official token of the Jupiter project is Jupiter Coin, symbol JUP with a total supply of 10 billion. This token is mainly used for Airdrop to users, JUP holders can participate in voting on important decisions of Jupiter DAO. In addition, users can receive additional benefits from holding JUP in the future, when Jupiter develops new applications and utilities.

Jupiter Allocation

Jupiter Coin has a total supply of 10 billion JUP, this number of tokens is distributed as follows:

• Airdrop rewards (4 rounds): 40%, equivalent to 4 billion JUP.
• Project members (Team): 20%, equivalent to 2 billion JUP.
• Strategic Reserve: 20%, equivalent to 2 billion JUP.
• Liquidity Provision: 10%, equivalent to 1 billion JUP.
• Contributors and Grants: 10%, equivalent to 1 billion JUP.

Jupiter Vesting

The JUP allocation plan for each target is as follows:

• Airdrop: Unlock 10% at TGE for the first Airdrop, and 10% for the next 3 rounds, no specific time yet.
• Team: The JUP for Team is locked in the first year, then vested gradually in the next 2 years.
• Liquidity Provision: 5% is unlocked at TGE and will be unlocked in the first year.
• Strategic Reserve: No information yet.
• Contributors and Grants: No information yet.

Of the total 10 billion JUP, 4 billion JUP are divided into 4 Airdrop rounds, the first Airdrop takes place on January 31, 2024. The JUP allocation strategy is as follows:

• 20% of the initial JUP, equivalent to 800 million JUP: For all eligible participants to receive the Airdrop.
• 70% JUP, equivalent to 2.8 billion JUP: Distributed to users based on their level of engagement with the protocol through a scoring system.
• 10% JUP, equivalent to 400 million JUP: Distributed to community members and developers.

Accordingly, user rewards are received based on the following scoring system:

• Welcome Gift 200 JUP: All users using Jupiter will receive 200 JUP bonus points.
• OG Bonus 200 JUP: All Jupiter V1 users with a Volume of over $10 or making at least 10 transactions on Mercurial V1 will receive 200 JUP bonus points.

Token Sale

Jupiter conducted a Token Sale on January 30, 2024, with a sale volume of 250 million JUP, the selling price is 0.55 USD.

Jupiter project development roadmap

There is currently no specific information about Jupiter’s development roadmap. Unich Analysis will update this information when there is an official announcement.

Jupiter project team

Currently, the only project member who appears is the person with the nickname “meow”, there is no specific information about other members of the Jupiter project team. Unich Analysis will update this information when there is an official announcement.

Jupiter investors

There is currently no specific information about Jupiter’s investors. Unich Analysis will update this information when there is an official announcement.

Jupiter partners

Jupiter cooperates with most DEXs and AMMs on Solana in many different aspects such as the DeFi segment with Orca, Raydium, Marinade Finance, Marginfi, etc. Wallet segment has Phantom, Solflare, Backpack, etc. Bridge segment has Wormhole, Allbridge, AtlasDEX, etc. Payment segment has Helio, CandyPay, Elusiv, etc.

Conclusion

The above is an overview of the definition, operating mechanism, ecosystem, products, investors, project team, partners, and development roadmap of the Jupiter project along with information about Jupiter Coin. Unich Analysis hopes that this information can help you better understand this blockchain project. If you want to quickly update information about Jupiter and other blockchain projects, please refer to our other articles!