Jupiter
| Jupiter | |
|---|---|
| Token | |
| Ticker | $JUP |
| Contract | JUPy…DvCN |
| Chain | Solana |
| Launched | 2024-01-31 |
| Launchpad | Jupiter LFG Launchpad |
| Status | Active |
| X | @JupiterExchange |
| Website | jup.ag |
| Also known as | Jupiter Exchange jup.ag JUP Jupuary Jup |
| Market | |
| Price | — |
| Market cap | — |
| Liquidity | — |
| Volume (24h) | — |
| Change (1h) | — |
| Change (24h) | — |
| Links | |
| DEX Screener · Birdeye · GMGN · Solscan | |
Jupiter is a decentralized exchange (DEX) aggregator on Solana that routes swaps across on-chain liquidity venues, and JUP is its token, airdropped on 31 January 2024.[1][2] CoinDesk described Jupiter's router as involved in the vast majority of on-chain swaps on Solana.[2]
Lore[edit]
Exchange
Jupiter is led by a pseudonymous founder known as Meow.[3] Memecoin traders reach most Solana pools through its router, and by January 2025 it had handled nearly $2.2 trillion in volume across 1.25 billion swaps, according to Dune data.[4] Its LFG launchpad was used to launch Wen and then JUP itself.[1]
At its first conference, Catstanbul, on 25 January 2025, Jupiter announced a majority stake in Moonshot, an app for buying memecoins with Apple Pay that had handled nearly $400 million in volume during the debut of TRUMP and reached 1 million daily users by 20 January.[3] It also bought the portfolio tracker SonarWatch and introduced "Ultra" mode, which automates slippage and priority fees.[3] Ultra added a 5 basis point fee on basic swaps, and Jupiter said half of protocol fees would buy JUP for a long-term "litterbox" reserve.[4]
Token
JUP has a supply of 10 billion; 1.35 billion circulated on day one, including 1 billion for an airdrop to about 955,000 wallets that had used Jupiter before a 2 November 2023 snapshot.[1] Trading opened at 10 a.m. ET on 31 January 2024; early bids near $0.41 rose to $0.72, giving a fully diluted value above $6 billion, and the airdrop was worth about $700 million.[2] An unrelated 2017 Ethereum token with the same ticker rose more than 430% that day as traders bought the wrong JUP.[5]
A second airdrop, "Jupuary", distributed more than $600 million in JUP on 22 January 2025.[6] In June 2025 chief operating officer Kash Dhanda paused DAO voting until 2026, saying the DAO "isn't working as intended".[7]
Timeline[edit]
- 2023-11-02: airdrop eligibility snapshot[1]
- 2024-01-31: JUP airdrop claim and trading open[1][2]
- 2025-01-22: second "Jupuary" airdrop[6]
- 2025-01-25: Catstanbul; Moonshot stake, SonarWatch, Ultra mode[3]
- 2025-02: Jupiter addresses the Libra launch; Meow plans an independent review[8]
- 2025-06-20: DAO voting paused until 2026[7]
Controversies[edit]
After the LIBRA collapse in February 2025, Jupiter said a token tied to Argentina's president had been "an open secret" in memecoin circles but that no one at Jupiter knew the specifics in advance; Meow said neither Jupiter nor Meteora, which he co-founded, engaged in insider trading, and sought to hire the law firm Fenwick & West for an independent review.[8] Rival aggregator Titan's founder Chris Chung called Jupiter's 2025 acquisitions "monopolistic behavior".[4]
See also[edit]
References[edit]
- ^ Jupiter Airdrop: Everything You Need to Know About Claiming JUP on Solana, Decrypt, 2024-01-30
- ^ JUP Token Soars After Massive $700M Jupiter Airdrop to Solana Wallets, CoinDesk, 2024-01-31
- ^ Solana DEX Jupiter acquires majority stake in Moonshot, Cointelegraph, 2025-01-25
- ^ Jupiter's Acquisition Spree, Buyback Plan Spark Solana Ecosystem Dominance Concerns, CoinDesk, 2025-01-27
- ^ Traders pumped and dumped another 'JUP' during $700M Jupiter airdrop, Cointelegraph, 2024-02-01
- ^ Jupiter to distribute over $600 million in 'Jupuary' airdrop today, The Block, 2025-01-22
- ^ Jupiter pauses DAO governance to focus on DeFi growth, Cointelegraph, 2025-06-20
- ^ Co-Founder of Crypto Firm Behind Trump, Melania Tokens Resigns Amid Insider Trading Allegations, Decrypt, 2025-02-18