What is Jupiter Exchange ($JUP)?

Jupiter Exchange, the number one destination on the Solana network has consistently made headlines for dominating the leading Ethereum DEX, Uniswap by volume.

We’ve decided to land our rocket over on Jupiter, so it’s time to put on the spacesuit and start exploring.

What is Jupiter Exchange?

Jupiter Exchange which first launched in 2021 is the leading DEX aggregator on the Solana network which has flourished into one of the most powerful DeFi protocols in existence. Jupiter Exchange offers more than a superior trading platform, so let’s highlight everything Jupiter offers.

How Does Jupiter Exchange Work?

Let us delve into the rich features of the Jupiter Exchange protocol:

Swap

The Jupiter Exchange’s primary function is the DEX aggregator that allows users to find the best trades across the entire Solana ecosystem. Users can swap tokens on Solana using Jupiter Exchange to find the cheapest, fastest and most effective trade possible!

This is all possible as Jupiter Exchange has integrated and connected the most powerful DEXs and liquidity protocols such as Raydium, Orca, Meteora and many others.

Limit Orders

Other than the simple and sweet swapping on Jupiter Exchange, users can utilise ultimate features such as Limit Ordering which enables you to set a buying price on any token in the Solana network with minuscule platform fees of 0.1%!

DCA

Another superior feature that Jupiter introduced, is the DCA (Dollar Cost Averaging) mechanism which allows users to slowly invest into any token automatically. Instead of having to manually DCA into a cryptocurrency, why not set it and forget it with Jupiter Exchanges’s DCA feature?

$JUP Token

The native token of the platform $JUP was airdropped to over 900K loyal users, with a value of $360M worth of tokens. This is not the last airdrop, as every January, also known as JUPuary, the Jupiter Exchange will airdrop more tokens to its loyal community (more down below).

Jupiter DAO

$JUP, which primarily serves as the governance token can be used to Stake within the Jupiter DAO. By Staking $JUP, you will receive 75% of the Launchpad Fees as well as rewards for locking up your tokens.

Projects that launch their tokens through the launchpad mostly leave a small allocation for $JUP stakers, enabling them to receive airdrops from 3rd party protocols! At the moment, 285M+ $JUP tokens are staked across over 517,243 unique wallet addresses.

JupSOL - The Liquid Staking Token (LST)

Recently added to the extensive Jupiter ecosystem is the addition of a Liquid Staked Token (LST) known as $JupSOL. $JupSOL is simply $SOL that is staked into $JupSOL and represents the tokens within Jupiter’s Validator node for Solana.

$JupSOL is issued by the popular liquid staking protocol, Sanctum. The rewards accumulated from the Jupiter Validator node are collected and distributed amongst the $JupSOL token holders.

Wen Memecoin

The Wen memecoin, a fractionalized NFT turned into 1 Trillion $WEN coins, is the most famous launch and airdrop to come from the Jupiter Launchpad yet. However, we are yet to see many new protocols join the list, especially the legendary Liquid Staking protocol, Sanctum which is launching the $CLOUD token!

Jupiter Exchange Airdrops

Jupiter Exchange, once a tokenless protocol airdropped its native, governance token to its most loyal users for the first time in January 2024, also known as Jupruary.

Every January (Jupruary) of every year, the Jupiter Exchange plans to airdrop $JUP tokens to its community. The eligibility requirements are not yet revealed, but could very well be activities such as swapping, staking and using other features.

How To Buy Jupiter ($JUP)

There are two main ways to buy $JUP, either by using a centralised exchange or by using the decentralized option of using a decentralized exchange (DEX) or aggregator in the Solana ecosystem.

Option 1- Centralised Exchange

The $JUP token is available on major centralized exchanges (CEX) and can be bought using FIAT currency. $JUP can also be withdrawn from your CEX to your non-custodial wallet (e.g. Phantom).

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Option 2 - DeFi Wallet & Decentralised Exchange

You can swap/trade Solana ($SOL) or other compatible Solana assets in exchange for the Jupiter Exchange token, $JUP. The wallets listed below are a selection of wallets compatible with the Solana blockchain.

To buy the Jupiter Exchange token ($JUP) on a decentralized exchange will require a non-custodial wallet such as Phantom for example.

A user must have Solana ($SOL) tokens in order to pay for network fees and therefore can obtain $SOL by withdrawing your tokens into your wallet from a centralized exchange (CEX) or by using the on-ramp option in your wallet, which enables the direct purchase of $SOL by using debit/credit card, bank transfer and similar options.

To swap Solana ($SOL) into the Jupiter Exchange ($JUP) token, users can directly use the Jupiter Exchange DEX aggregator to find the best and cheapest prices.

There are over 96 decentralised exchanges and aggregators in the Solana ecosystem, feel free to browse through their DEXs, by following this external link to the Solana Ecosystem.

How To Use Jupiter Exchange

If you want to get started and use the Jupiter Exchange, you can watch our comprehensive step-by-step tutorial on YouTube. This video will show you exactly how to swap and utilise all of the features on the infamous Jupiter Exchange.

Conclusion

At the time of writing, $JUP is priced at $0.98 with a market cap of $1.33B, currently ranking it the 68th largest crypto by market cap. $JUP has seen an ATH of $2.04 at the beginning of the year, yet the token has not experienced a bull run yet.

With Solana season and the bull run just around the corner, $JUP could break astronomical heights and statistics seem to back this evidence. Jupiter is consistently breaking new records with transactions and volume and who knows, $JUP could be the next $UNI of the coming bull run which did well over 12x in the last bull run of 2021…