Jupiter is a decentralized on-chain swap aggregator protocol on Solana.
They provide users minimal slippage and faster execution of token swaps through its unique routing across multiple (Decentralized Exchanges DEXs) on Solana. Jupiter also offers a full suite of trading apps and APIs for advanced crypto traders.
The main challenge for Jupiter now is to break into the centralized meta, to prove that using decentralized platforms can be far more rewarding than centralized ones.
Decentralized adoption is not when people buy crypto, it is when people use crypto
At Jupiter, that will be our main goal for the next 2 years, create the sharp spear tip that will be needed to pierce through the resistance to decentralized adoption to really make the masses use crypto, not just buy crypto.
meow, founder of Jupiter
What is Jupiter?
Jupiter is a Solana DEX aggregator.
Jupiter is a robust DeFi tool which originated as a DEX aggregator and has expanded to offer a full suit of investment tools for traders. It sources market liquidity from the DEXs (Decentralized Exchanges) and AMMs (Automated Market Makers) which facilitates instant order transactions.
Jupiter's aggregator guarantees the best rates for cryptocurrency swaps, reduces slippage and ensures a high chance of the transaction being successful on first attempt.
Jupiter's robust UI and comprehensive trading features provide a customer experience that rivals mainstream centralized exchanges. Crypto trading on Jupiter is available 24/7/365.
What is a DEX?
A decentralized exchange (DEX) is a cryptocurrency exchange where users trade tokens on a global marketplace powered by the blockchain.
Solana DEXs have become a popular place to trade crypto due to their low fees and nearly instant transaction speeds.
DEXs offer an additional level of user privacy and do not require identification disclosure. CEXs, centralized exchanges, require users to submit personal information including government IDs, proof of income and more.
What is an AMM?
An automated market maker (AMM) is a pool of cryptocurrency tokens which are used to facilitate trades.
Contributors to the AMM pools (typically crowdsourced) receive a reward in the form of a small fee for each transaction the AMM pool facilitates.
AMMs are an important component in a trustless system and play a key part in the decentralized blockchain world.
What is JUP?
JUP is the native token of the Jupiter Exchange crypto platform
- Ticker: $JUP
- Circulating Supply: 1,350,000,000 (upon launch)
- Remaining Supply: 8,650,000,000
- Total Supply: 10,000,000,000
Token supply is split 50/50:
- 50% will be managed by Jupiter for team allocations, a strategic reserve and liquidity provision.
- 50% will be distributed to the community through several rounds of airdrops as well as a piece for contributors and developer grants.
JUP is currently primarily used for governance voting in the DEX's DAO on topics like launchpad projects, strict list disputes and developer grants.
Trade JUP on Backpack Exchange.
How to use Jupiter with Backpack
Backpack Wallet
Jupiter powers the Swap function in Backpack Wallet.
Swaps in the Backpack Wallet are automatically directed through the best possible route to provide the most competitive swap rates.
Download the Backpack Wallet:
- Download Backpack Wallet on Android
- Download Backpack Wallet on iOS
- Download Backpack Wallet browser extension
Backpack Exchange
Jupiter's token JUP is available in a JUP/USDC trading pair on the Backpack Exchange.
Trade JUP on Backpack Exchange.
Spot trading for JUP/USDC opened on January 31, 2024.
Jupiter Trading Features
Token Swap
Jupiter originally launched as a platform to facilitate Token Swaps for Solana projects.
Swapping tokens means exchanging one token for a different token, typically on the same blockchain.
Jupiter aggregates liquidity from multiple Solana DEXs such as Raydium, Orca and Serum (along with numerous smaller exchanges).
Jupiter does not charge additional fees for token swaps, the only charges are for Solana blockchain transactions and exchange costs.
Jupiter offers numerous Slippage Settings for token swaps which help ensure that a transaction is successful and that users don't inadvertently pay a higher transaction cost than intended.
Visit the Token Swap app here.
Limit Order
Jupiter expanded their DeFi tooling with the introduction of Limit Orders for hundreds of Solana SVM (Solana Virtual Machine) tokens.
Limit orders allow traders to set specific Buy and Sell prices for crypto tokens.
Limit orders add a strategic element to crypto trading that market order Swaps do not provide.
Visit the Limit Order app here.
DCA (Dollar Cost Averaging)
Jupiter supports DCA strategies for traders.
DCA stands for 'Dollar Cost Averaging' and represents a traditional investment strategy that allocates a fixed dollar amount buy of stocks at regular intervals.
DCA strategy accumulates assets over time at an average cost, Jupiter offers DCA intervals by minute, hour, day, week and month.
DCA functionality is missing from a majority of Solana exchanges and makes Jupiter stand out among it's competitors.
Visit the Dollar Cost Average app here.
VA (Value Averaging)
Jupiter also supports VA strategies for traders.
VA stands for 'Value Averaging', an investment strategy where a trader determines how much profit they want to make each day.
Value averaging is a similar strategy to DCA, it involves regular investments spread out over time.
The key difference between VA and DCA is that the regular investment amount changes depending on the profit goal (e.g. some days the investment is less, some days the investment is more).
Visit the Value Average app here.
Perpetual Trading
Jupiter offers 'perpetual futures' trading with up to 100x leverage.
Perpetual trading, or perps trading, brings trading strategies that are widely used in traditional finance to the blockchain.
Our perpetual exchange is a novel LP-to-trader perpetual exchange on Solana, offering up to 100x leverage. Utilizing LP pool liquidity and oracles, it ensures zero price impact, zero slippage, and deep liquidity.
Perpetual Trading Overview, Jupiter
Jupiter's Perpetual Trading suite of tools offers:
- Leverage trading
- 'Deep' liquidity via the JLP (Jupiter Liquidity Pool)
- Long/Short positions
- Realtime management and closure of positions
Jupiter Launch Pool
The JLP (Jupiter Launch Pool) provides deep liquidity, allowing for large trades without affecting market prices. Liquidity providers add funds to this pool and earn fees generated from trading activities.
Contributors to the JLP receive rewards for their token stake at an APY of 75%:
- Opening fees
- Closing fees
- Borrowing fees
- Trading fees
The Jupiter Liquidity Provider (JLP) Pool is a liquidity pool where it acts as a counterparty to traders — when traders seek to open leverage positions, they borrow tokens from the pool.
View the Jupiter Launch Pool app here.
RPC Endpoint Selection
Jupiter places RPC Endpoint and Global Priority Fees customization front and center on their trading app.
RPC (Remote Procedure Call) endpoints connect users to the blockchain, typically through their wallet application. Jupiter embeds custom RPC endpoint options directly within their trading app.
Crypto users deploy custom RPC endpoints for a variety of reasons:
- Performance and transaction speed
- Custom RPCS are optimized for faster transaction performance. Default public RPCs can get congested during times of high network traffic which leads to degraded speeds and increased chance of failed transactions.
- Custom RPCS are optimized for faster transaction performance. Default public RPCs can get congested during times of high network traffic which leads to degraded speeds and increased chance of failed transactions.
- Customizability
- Advanced traders utilize custom RPCs to automate their strategies, have a more informed view of transaction data and in some cases place additional encryption protections.
- Advanced traders utilize custom RPCs to automate their strategies, have a more informed view of transaction data and in some cases place additional encryption protections.
Global Priority Fees
Global Priority Fees customization allows users to increase the chance of a successful transaction.
- Functionally this means that a user is approving an additional transaction fee on top of the base Solana network fees.
- Jupiter has added several pre-set options (Fast, Turbo, Ultra) which
Jupiter offers several levels of customization for Transaction Broadcasting and Priority Level.
Transaction Broadcasting
- Priority Fee Jupiter submits your transaction through RPC with priority fees.
- Jito Only Jupiter submits your transaction through Jito Bundle only.
- Bundles allow sequential and atomic transaction execution on Solana.
- Bundles allow sequential and atomic transaction execution on Solana.
- Mixed Jupiter submits your transaction through RPC with priority fees, and Jito Bundle to see which goes through successfully.
Priority Level
Jupiter has three pre-set Priority Level settings for Global Priority Fee.
- Fast
- Turbo
- Ultra
Each one will determine what percentage of your Max Cap fee allocation is used in the transaction.
Advanced APIs
Jupiter welcomes advanced traders with dedicated APIs for each of its trading function.
Jupiter API is the easiest way for developers to access liquidity on Solana. Simply pass in the desired pairs, amount, and slippage, and the API will return the serialized transactions needed to execute the swap, which can then be passed into the Solana blockchain with the required signatures.
This allows you to avoid the limitations of Cross Program Invocation (CPI) via the "Flash-Fill" approach. Flash-Fill is one of two approaches to integrate Jupiter swap with your protocol.
Jupiter's Payments API supports your payments use case. Utilize Jupiter + SolanaPay to pay for anything with any SPL token. The API doesn't just support output token to USDC, but to any SPL token!
The Referral Program is an open source program by Jupiter to provide referral fees for integrators who are integrating Jupiter Swap and Jupiter Limit Order.
Utilizing the powerful Jupiter Price API makes getting precise and real-time pricing for all SPL tokens simple.
Using the Solana.Unity-SDK, game developers can effortlessly incorporate Jupiter swaps into their games and achieve cross-platform compatibility without the need to modify a single line of code.
Within the SDK, the Jupiter Payments API is also available, enabling you to utilize Jupiter + SolanaPay for facilitating user payments with any SPL token, allowing pricing in USDC or other tokens.
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