what's jupiter?
Jupiter appears to be a Solana-based decentralized exchange (DEX) with a native token $JUP. The platform offers trading capabilities and has integration partnerships with other DeFi protocols like Meteora. Jupiter has a mobile app that recently launched a $1 million airdrop campaign for 10,000 new users. The project faces some community concerns about tokenomics, with predictions that $JUP may not exceed 67-68¢ in the current bull run without improvements to token value or tokenomics adjustments. The platform is used by various other crypto projects for token trading and liquidity provision.
Jupiter underwent launch vertical leadership change, integrated Orca AutoSwap, and Huma Finance for volume growth.
contract
solana
unichain
Reached 133,000 daily active wallet addresses as of 2026-02-15.
Has over 800 million JUP staked, an increase from 360 million JUP staked during the original Jupuary vote.
Emits approximately 650 million JUP tokens annually to team members and core contributors during 2026.
Allocated 200 million JUP tokens for the ASR (Active Staking Rewards) program in 2026.
Distributed 1.7 billion JUP tokens through previous Jupuary airdrops.
Proposes to distribute 700 million JUP tokens through Jupuary airdrop and incentives in 2026.
Repurchased 25 million JUP tokens in January 2026 through the Litterbox Trust.
Allocated approximately half of total token supply to the DAO at TGE.
Emits approximately 174 million JUP tokens annually to Mercurial (MER) investors during 2026.
takes a 10% reserve factor on Jupiter Lend, which is up to 50% lower than other major Solana lending protocols
charges zero fees on flash loans despite processing over $6.5B in flash loan volume through Jupiter Lend
Integrated with Umbra Privacy protocol to enable private swaps through encrypted balances on Solana, allowing users to swap from encrypted balances through temporary addresses without exposing privacy.
Added Phettagotchi to the platform.
Scheduled governance vote February 17-21, 2026, proposes to eliminate future token emissions or continue Jupuary airdrops, with net zero emissions for 2026 by offsetting sales with open-market buybacks.
Pauses Team Reserve emissions indefinitely, resulting in net emissions to zero. Buys tokens directly, strengthening JUP reserves.
Proposes indefinite postponement of Jupuary airdrop program as part of emissions reduction measures.
Proposes accelerating and offsetting Mercurial vesting to reduce net emissions, plans to backstop MER stakeholder emissions from team balance sheet as part of tokenomics restructuring.
Captured approximately 60% of all revenue in the perpetual exchange ecosystem at peak.
Perpetual market volume declined from 10% at peak to below 1% by February 2026, currently accounts for 4% of daily trade volume.
Ranks as the second highest earning perpetual protocol by revenue, with fees distributed to JLP holders.
Hosted a JUP Rally event on February 13, 2026 at 3:30pm UTC on YouTube and X to discuss plans for JUP, recap announcements from CatLumpurr, and preview upcoming developments.
Community expresses concern over a "missing airdrop" and JUP token decline.
Generated approximately $25 million in revenue over the last three years from its perpetuals ecosystem.
Exited beta for Jupiter Lend on February 13, 2026, with 7 completed audits and 1 formal verification.
Lend exited beta with zero bad debt and 83,000 users.
Begins a $107,000 audit competition with Code4rena for Jupiter Lend, running for 29 days starting February 12, 2026.
Raised funding as part of a $120M combined round alongside ZBD, Flying Tulip, and Opinion in Q1 2026.
Achieved 35% market share in the Solana lending sector within 6 months of launch for Jupiter's lending product.
Reached $1 billion in total value within 8 days of launch through Jupiter's lending product (jup_lend).
jupUSD circulating supply reached $74M.
Integrated with the Timmy Agent Trading API for autonomous agent trading infrastructure, which executes swaps on Solana mainnet and includes cross-AMM arbitrage detection alongside Meteora, Raydium, and Pump.fun.
Launched Jupiter Academy, a gamified DeFi education platform featuring lesson plans, guided onchain actions, and XP rewards covering all Jupiter products.
Offers 6.15% APY lending for JupUSD holders.
Achieved six consecutive weeks of revenue growth.
Achieved a 2% increase in TVL over a 7-day period, ranking among the top 10 TVL gainers.
Ranks 5th among all crypto entities by 7-day fee generation as of February 9, 2026, and second most days in total fees collected.
Experienced massive selling pressure from whales, contributing to a price decrease of over 20% in the 7 days ending February 9, 2026.
Integrated with SushiSwap on Solana via Ultra API, launching February 9, 2026.
Experienced $49.8M in whale inflows over a 24-hour period.
Transferred leadership of the launch vertical from wassielawyer to bitcnoi, with support from SatchelZouki, as announced at CL (Catstanbul).
Integrated with Orca's upgraded AutoSwap feature as one of the aggregators that can execute swaps before LP deposits, alongside Dflow, Titan Exchange, OKX, and Orca.
Integrated with Huma Finance, achieving $3B to $10B transaction volume growth over 12 months with $132M in assets and a $15M tradfi partnership live.
Launched JUPUSD via Ethena Whitelabel on Solana, returns treasury yield.
Secured $35M strategic investment from ParaFi Capital to accelerate onchain financial infrastructure.
Released Beethoven Universal CPI Interface.
Partnered with KyberNetwork.
Expanded from DEX aggregator into 15 new product verticals during 2025.
Integrated Polymarket on Solana.
Unified Wallet Connect feature integrated by em0tionull to enable multi-wallet support.
Launched "Jupiter Global," a feature offering onchain payments with QR scan-to-pay functionality across the APAC region, virtual fiat accounts with global transfer capabilities, and a crypto card.
Established Jupiter Labs, a new division focused on early-stage product exploration and rapid development from 0→1, with initial focus on AI and privacy.
Launched Solana Ecosystem Explorer, displaying project financials (fees, revenue, TVL), social presence, user activity, products, and tokens.
Opened ASR rewards distribution for Q4 stakers, open to all wallets until 2026-04-30, requiring seed phrase import.
Launched Jupiter Developer Platform, a unified experience for observability, monitoring, and documentation.
JLP (Jupiter Perpetuals liquidity pool) reached a market cap exceeding $1.5 billion.
Incurred zero bad debt on Jupiter Lend as of February 13, 2026.
Released JupiterZ v2 with market maker real-time quote streaming, 0% slippage execution, orderbooks, partial swaps, and tighter Iris integration for institutional-grade RFQ functionality.
Relaunched the home page and returned to beta status on January 31, 2026.
Recorded $107.25M in DEX flows for JLP token over a 24-hour period, ranking first among Solana tokens by this metric.
Increased 15% to become one of the top movers in the crypto market on January 28, 2026.
Paused governance for 6 months in 2025
is expanding governance and market structure through BAM.
Running a $1M Trading Cards rewards program that ends on or around January 24, 2026.
Team is dumping tokens mercilessly despite good product offerings according to market commentary.
Partnered with Kaspa (KAST) and is mentioned in a podcast discussion about Sui Network partnerships.
Listed SKR (Solana Mobile's native token) for trading on January 21, 2026.
Averaged monthly stablecoin volume of $36 billion in 2025, capturing over 90% of the market.
Co-founder Alon introduces Creator Fee Sharing, shifting toward market-driven incentives.
Launched a new vault using Maple Finance's syrupUSDC with active incentives that reduce the effective borrow rate to approximately 2.4%.
Generated over $1 billion in user-paid fees during 2025.
New liquidity pools created on Jupiter Exchange to extend market depth for ApeCoin.
Holds $350,000+ in prediction market TVL.
Reached close to $200 million in monthly trading volume for tokenized stock assets on its platform.
integrates with SHDW to enable instant private trading for Solana tokens
Portfolio product crossed 6M unique users
Reinjects all off-chain yield from bonds as native yield boost for jlJupUSD holders, providing an extra 2-4% APY on top of base returns.
Currently ranks behind leading perpetuals protocols Lighter, Aster, and Hyperliquid in trading volume, according to market commentary comparing perps sector performance in 2025.
Keystone wallet's multi-coin firmware v2.3.4 added USB signing support for the Jupiter Extension wallet.
DEX aggregator volume declined 74% from January 2025 to December 2025.
Solana co-founder Anatoly Yakovenko suggested to the Jupiter team that they consider storing profits as future token-claimable protocol assets with a one-year lockup/staking mechanism for token yield, where stakers would receive a bigger claim as the balance sheet grows.
Released Jupiter Mobile v3.
A community member proposes stopping the JUP buyback program, which spent more than $70 million in 2025, and redirecting those funds to growth incentives for users instead.
Mobile app receives widespread praise and recognition.
Jupiter DTF launches with guaranteed liquidity on Meteora through an active collaboration between Jupiter and Meteora.
Charges 0.1% swap fees on the platform.
Collaborated with Jupiter to produce co-branded drinks during 2025.
Hosting or participating in Jupiverse 2026 event on January 26, 2026.
Plans to host CatLumpurr, an in-person event in Malaysia.
Plans third airdrop called "Jupuary" scheduled for February 2026.
Distributes a meaningful share of protocol revenue to JUP token holders.
Nominated for the Defi Excellence Award by The Rollup, with the winner to be announced on 2025-12-30.
Experienced a 58% price decline from October 10, 2025 to December 2025.
Has a large single token unlock exceeding $5 million scheduled within the seven days starting December 22, 2025.
Deribit is running a trading volume promotion requiring 18M volume to secure 100 USDC and offering a 500 USDC prize draw, with the promotion ending on December 22, 2025.
Listed among platforms and services where crypto users can trade during bear markets, alongside mentions of partnerships with Solana and mainstream media coverage.
Generated higher 24-hour fees than Pump.fun, marking a shift in top fee-generating protocols on Solana.
Uses Chaos Oracles for price feed infrastructure alongside other DeFi protocols including Aave, Pendle, and GMX.
achieved price impact of approximately 5 basis points on $1 million Solana trades on Solana decentralized exchanges, compared to 12 basis points on Coinbase
Featured as a partnership mention in a prominent crypto podcast episode (E152 of Kevin WSH Pod) with Raoul Pal discussing crypto navigation for 2026.
Partnered with Fluid for an integration or collaboration on Solana.