Jupiter

Jupiter is a decentralized exchange (DEX) aggregator based on the Solana blockchain that pools liquidity from multiple DEXs to provide the best trading prices. The Jupiter DEX was launched in October 2021. However, its native token JUP was launched only in January 2024. JUP token plays a significant role in the Jupiter ecosystem, enabling community members to participate in governance and facilitate other on-chain transactions. 

Meow, a pseudonymous developer, founded Jupiter (JUP) in October 2021.

• JUP token: JUP token has several utilities within the ecosystem like paying for transaction fees, accessing special features and services, and governance.

• Strong community support: JUP has strong community support, with the network allocating a significant portion of the total JUP tokens for airdrops and other incentives, contributing to building a robust community.

• Low transaction fees: Jupiter leverages Solana’s prominent features such as low transaction fees and scalability to offer affordable and fast transactions to its users.

• Interoperability: As a DEX aggregator, Jupiter cannot function without interoperating with other blockchain networks. So, one of its primary features is cross-chain interoperability, facilitating communication and interaction between blockchain networks.

JUP is a cryptocurrency that is quite new to the crypto market having launched only on January 31, 2024. JUP was launched via airdrop that became very popular in the crypto space, which propelled the token to achieve great heights since its initial days. The token is the top #64 crypto by market cap and top #88 in terms of trading volume. With the Jupiter platform’s strong focus on security, low transaction fees, and community-centric development, the JUP token is poised for a great future. Analysts expect the token to trade around $9.61 by 2030.

Download the CoinSwitch app to invest in JUP.

• JUP can be traded, bought, and sold from crypto exchanges. 
• It can be used to pay for transaction fees within the Jupiter ecosystem.
• JUP tokens can be used to pay for premium features and services on the platform.
• JUP is a governance token and token holders can participate in voting or decision-making processes related to the ecosystem.

• Jupiter platform, being built on the Solana blockchain, leverages Solana’s low fees and high scalability.

• Jupiter finds the best prices across multiple decentralized exchanges with minimal slippage in trades. 

• Being a relatively new crypto, Jupiter often has regular airdrops, benefitting its community.

• JUP is subject to price volatility, which may impact investor confidence.

• The service provided by Jupiter is not unique and it faces strong competition from several other DEXs and liquidity aggregators.

• Jupiter is too reliant on the Solana network and an outage of the Solana blockchain directly impacts Jupiter.

• To trade in JUP on CoinSwitch, download the app.
• You can start with as low as ₹100.
• Trade in over 200+ cryptos with just a nominal fee in a secure environment.

The Jupiter (JUP) token was launched via an airdrop instead of a traditional Initial Coin Offering (ICO) which appears to be the trend among several new cryptos. JUP token is divided between the Jupiter team and its community, with each receiving 50% of the total supply of 10 billion tokens.