JUP is the native cryptocurrency of the Jupiter platform. It is used to facilitate transactions within the ecosystem and serves as a governance token, allowing holders to participate in decision-making processes that influence the platform’s future development. The JUP token was launched at the end of January 2024, with a total supply of 10 billion tokens, evenly distributed between the team and the community.
Jupiter operates by connecting to multiple decentralized exchanges and automated market makers on the Solana network to gather data on liquidity conditions, asset prices, and fees. By analyzing this information, Jupiter can identify the most efficient swap routes for users’ transactions, which may involve splitting a single swap into multiple steps to achieve the best possible price. This approach ensures that users receive optimal exchange rates with minimal slippage and low transaction costs.
Why does Jupiter exist?
Jupiter exists to simplify and optimize the process of token swaps within the Solana ecosystem. By aggregating liquidity from multiple sources and offering advanced trading features, Jupiter aims to make decentralized finance (DeFi) more accessible and efficient for users, thereby promoting the adoption of the Solana blockchain and its associated services.
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Website: https://jup.ag/
No whitepaper is available. You can find the documentation here: https://station.jup.ag/