Jupiter
JUPJupiter is Solana’s leading DEX aggregator, powering seamless token swaps across the ecosystem.
About Jupiter
Jupiter (JUP) is Solana's leading DEX aggregator, enabling users to swap tokens across multiple liquidity sources with a single interface. Its high TVL and strong backing make it a critical infrastructure piece for on‑chain finance on Solana.
How it works
- 01
Aggregates liquidity across Solana DEXes
- 02
Provides best price routing for swaps
- 03
Supports token swaps, limit orders, and route optimization
- 04
Offers JUP token for governance and fee rebates
Funding
$172.5M total raised| Round / date | Amount | Valuation | Investors |
|---|---|---|---|
| Strategic | $35.0M | — | ParaFi Capital |
| Ido | $137.5M | — | |
Jupiter raised $35M in a strategic round in Feb 2026 (co‑investor ParaFi Capital) and $137.5M in an IDO in Jan 2024, totaling $172.5M.
The team
Meow
Founder
Ben Chow
Co-Founder
Siong
Co-Founder
Italo Casas
CTO
Tokenomics
- Jupuary
- 44.3%
- Team
- 20%
- Strategic Reserve
- 19%
- Mercurial Stakeholders
- 5%
- Community Reserves
- 4.3%
- Launch Pool
- 3.6%
- Other Launch Allocations
- 3.8%
JUP is used for governance voting and ecosystem incentives on the Jupiter DEX aggregator.
Team and Mercurial allocations have a 1-year cliff then monthly linear unlock over 24 months; most launch allocations unlocked at TGE.
Strengths & risks
Strengths
- Deep liquidity aggregation across Solana DEXs
- Low slippage, fast Solana settlement
- Extensive token support & developer SDK
- Strong community & strategic funding
Risks
- Smart contract bugs causing fund loss
- High reliance on Solana network stability
- Regulatory scrutiny on DEX aggregators
Beluga’s take
Jupiter delivers a slick on‑chain swap experience that stitches together dozens of Solana DEXes in a single click. The aggregator finds the deepest pool, so slippage stays low and fees hover around 0.2 % after the JUP rebate. With $1.47 B TVL the platform can route multi‑hop trades without hitting liquidity cliffs, and the new Terminal UI makes sending crypto as a link feel almost instant.
Power users still hit friction when a route fails during Solana congestion, forcing a manual retry that breaks the flow. The web UI lacks advanced order types and real‑time charting, so traders have to drop to external tools for limit or stop orders. Token‑level analytics are sparse, making it hard to gauge JUP distribution or upcoming unlocks without digging through separate dashboards.
The recent rollout of a native prediction market adds a fresh use‑case and pushes the TVL higher, while the Jupiter Terminal integration with wallets like Phantom reduces the steps to trade. However, the platform’s on‑chain latency has not improved significantly, and the team has yet to launch a native order‑book or deeper analytics suite. Overall the product is expanding its feature set but still lags behind CEX‑grade execution speed.
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