JUP/USD (-4.38%)
Jupiter is a liquidity aggregation network that works on the Solana network. It allows holders to make asset swaps on DeFi marketplaces with the best prices and lowest slippages in the crypto market. The service also supports limit orders, which allow the holders to specify the price at which they will make the trades. It eliminates the need for manual tracking of prices and ensures that holders make use of the best prizes when they become available. Additionally, Jupiter has the lowest transactional costs in the market, thanks to working on the Solana blockchain.
A Bit About Jupiter
Jupiter can be described as a decentralized token swap network on Solana. It was started by a team of enthusiast trading professionals who wanted to have a way to enhance their trades and maximize liquidity. The token stands for speed, performance, and flexibility for operators of DeFi options on the Solana network.
It makes it easy for these operators to make most of their assets on DeFi opportunities and maximize their returns. The token itself serves as the governance coin and pays for all the services offered by the aggregation engine and updates on the network. With Solana being a leading DeFi network, Jupiter offers holders ease of making trades and transferring assets with the best rates on the internet with a click of a button.
DeFi on Solana is accelerated by Jupiter!CryptoLists.com
Jupiter is essentially a liquidity aggregator that runs on the Solana blockchain and enhances the efficiency of token swaps across several decentralized finance products. The network works by connecting users to various liquidity sources to enable them to receive the best rates for their trades. When anyone initiates a swap, the Jupiter network scrutinizes several decentralized exchanges to find the most favorable routes and prices in the market. This way, it minimizes both slippage and costs of transaction.
The network supports limit orders. This feature allows users to specify the price at which they would buy or sell tokens. This way, they do not have to make trades when the market conditions are not favorable or have to keep checking prices for the right time to make trades.
JUP token acts as both the governance coin and pays for all the services that holders procure within the Jupiter network. Since it is compatible with Solana Blockchain, users do not have to buy Solana for their trades. They can enjoy all the services in one network, using the same token all through.
Utility of Jupiter?
Jupiter is essentially a token and services provider for investors and traders on the Solana network that wish to execute token swaps with greater efficiency and enjoy optimal rates for their trades. The token enables them to enjoy these services on the Jupiter network.
The holders of the token enjoy various benefits. First, they can transact with some of the lowest costs in the decentralized world. Jupiter does not charge more than what Solana charges for transactions within its blockchain.
Second, using the Jupiter token for trading on DeFi opportunities on Solana enables holders to aggregate liquidity from various sources so that they can pick the best swap rates for optimized trading. There are also advanced features like limit order support to enable holders to enjoy the best rates in the market.
Its cross-chain functionality enables swaps between different blockchains. This offers opportunities to expand trading options and trade perpetually as long as there is liquidity to allow them to do so. Finally, JUP is a governance token. Therefore, the holders have a chance to determine the future of the decentralized network through voting.
Jupiter Price details
SOL Contract address: JUPyiwrYJFskUPiHa7hkeR8VUtAeFoSYbKedZNsDvCN›› Details & Tokenomics
›› JUP tokenomics and social media
Advantages of Jupiter
+ You enjoy low transaction fees on the Solana blockchain+ This token has enjoyed continuous improvements and integration of different networks
+ Jupiter offers diverse trading tools that include limit
+ This solution is easy to use and allows for quick trades
+ Jupiter aggregates liquidity for optimal token swap rates
Disadvantages
- Requires you to have a basic understanding of DeFi functions- Jupiter is currently limited to Solana ecosystem
- You do not get direct staking rewards as a JUP holder
- Jupiter's performance is dependent on the liquidity of the aggregated networks
- You may face competition from competing aggregators
Costs
▪ Rated at 8/10Jupiter does not charge anything extra for transactions beyond the costs for using Solana. Currently, the base transaction fee for Solana is 5,000 lamports (0.000005 SOL per transaction) per signature. The amount is a fraction of a cent per transaction. This is one of the lowest fees in the crypto world. Remember, you may have additional costs for transaction prioritization and cases where there are network congestions.
However, even with the additional costs, Jupiter offers some of the lowest transaction costs in the crypto world. So, users of the token do not incur high additional costs for their token swaps and transferring assets to any DeFi service within the Solana blockchain.
Reputation and Buzz
▪ Reputation rated at 8.5/10▪ Buzz rated at 9/10
Jupiter has been received quite well in the financial world since its introduction. It has garnered a significant amount of attention within the decentralized community, especially due to its liquidity aggregation features as well as working on the Solana blockchain. Most traders appreciate the token and network for enabling them to optimize token swaps and ensuring traders of better rates while minimizing slippage compared to traditional DEXs.
There have been several positive sentiments across leading crypto forums, new outlets, and community discussion products like Twitter and Reddit. As Solana grows its efficiency, so does the confidence in using Jupiter as one of its products. We expect this to grow in the future as Jupiter is releasing updates regularly.
FAQ
How can I perform limit orders on Jupiter?
To perform limit orders on Jupiter, you start by choosing the trading pair on the Jupiter ecosystem. Then, choose the Limit Order feature, where you set the price and number of coins you wish to trade at the set price. Complete by confirming the transaction.
Can I use JUP token to buy goods and services on the internet?
As for now, the token is primarily used for transactions involving liquidity aggregation. However, it may expand to a general utility token in the future, especially because of its low transaction costs and general stability.
History of Jupiter
March 2021 – Jupiter launches on Solana blockchain as a token swap aggregation solution.
November 2021 – Jupiter introduces limit orders and enhances swap functionality. With this functionality, users can specify the price at which they want to buy or sell a token.
April 2022 – The token launches bridge services to enable cross-chain comparisons across different blockchains. This enables users to transfer assets across different blockchains with ease.
August 2023 - Jupiter releases major UI updates and outlines future development plans. This gives hope to users for the future of their tokens.
January - The JUP token launches on Solana.
Screenshots from Jupiter
More sites where to buy/sell/trade Jupiter
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
