What is Jupiter Coin? Jupiter Guide 2024

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    Jupiter (JUP) is a Layer-1 protocol operating on the Solana network, focusing on decentralized application development and data storage. The project directs its goals towards these areas by providing users with a range of advantages. It enables access to various financial instruments such as DEX aggregation, futures trading, and decentralized stablecoin liquidity pooling. Additionally, it aims to enrich the user experience with features like Limit Orders, Dollar-Cost Averaging (DCA), Bridge Transactions, among others.

    What is Jupiter (JUP) Coin?

    Jupiter has achieved significant success on the Solana network, particularly with a transaction volume of $3.7 billion in November 2023. According to data provided by the crypto analytics platform Dune, Jupiter has become the fastest-growing and largest DeFi protocol on Solana in terms of transaction volume.

    This success indicates that Jupiter has garnered significant attention and experienced rapid growth due to its unique features and user-friendly financial tools. The high transaction volume on Jupiter suggests that users prefer the platform and choose it for securely conducting their financial transactions.

    Data from Dune reflects Jupiter’s impressive performance and growth potential within the Solana ecosystem, capturing the attention of the crypto and DeFi community. Jupiter’s future successes and developments could contribute to its positioning as a significant player in the DeFi space.

    Initially aiming to create a platform similar to the 1inch project on Ethereum, Jupiter evolved over time by adding permanent futures contracts of the GMX type to the platform. However, the project’s evolution not only surpassed its initial goals but also made the platform more comprehensive by integrating permanent futures contracts like GMX.

    Throughout this development process, Jupiter holds a perspective that stablecoins have risks such as regulatory issues in storage. Therefore, it recommends avoiding stablecoins, especially USDC and USDT. This approach reflects Jupiter’s aim to provide users with a safer and risk-averse trading environment.

    This evolution represents Jupiter’s steps away from its initial goals, moving towards offering a broader range of services in the DeFi world. Enabling users to conduct permanent futures contracts on the platform is a significant step in diversifying the financial tools Jupiter provides and offering users a wider range of trading options.

    Jupiter (JUP) Tokenomics

    Jupiter (JUP) Tokenomics

    The total supply of JUP, the native token of the Jupiter project, is set at 10 billion units. This token encourages users to contribute to the network by providing features such as voting and approval on the Jupiter platform. The maximum circulating supply is limited to 1.35 billion JUP.

    Token distribution, as disclosed by SolanaDaily, is outlined as follows:

    1. Airdrop (40%): 40% of the total token supply will be distributed through airdrops to support the project and distribute among the community.
    2. Strategic Reserve (20%): A 20% portion will form the project’s strategic reserve, which will be utilized for future development and growth.
    3. Team (20%): 20% of the tokens are allocated to team members leading the development of the project.
    4. Liquidity Provision (10%): A 10% segment will support the liquidity provision pool to ensure the healthy functioning of the platform.
    5. Contributors (10%): 10% of the tokens will be allocated as rewards and incentives to individuals and community members contributing to the project.

    This token distribution aims to sustainably develop the project ecosystem and distribute fairly among the community. The goal is to achieve a balance between users and contributors, thereby contributing to the long-term success of the project.

    Where to Buy Jupiter (JUP)?

    Jupiter (JUP) achieved a rapid market entry and was successfully listed on several popular exchanges. This successful entry provides users with broad access and trading opportunities. JUP is currently trading on many leading exchanges, and the success obtained from these listings reflects the targeted growth and user base expansion by the project.

    Having successfully completed current exchange listings, Jupiter plans to continue listing on new exchanges in the future. This is a significant strategy aimed at enabling JUP to reach a wider user base and increase trading volume. Users will contribute to the widespread adoption of the project as they can easily find and trade JUP on different exchanges.