Jupiter

Jupiter is the leading trade aggregator on Solana. When a user wants to swap one token for another, Jupiter routes the order across the network's liquidity venues to find the best available execution, splitting a trade across multiple pools where that produces a better result than any single pool.

Aggregation is particularly valuable on Solana because liquidity is spread across many automated market makers and order book venues. Rather than asking users to check each one, Jupiter searches the routes and executes the best path in a single transaction.

Product range

The platform has expanded well beyond simple swaps. It offers limit orders, dollar-cost averaging that executes purchases on a schedule, a perpetual futures venue, and a bridge for moving assets onto Solana. This combination has made Jupiter a primary entry point for trading on the network rather than only a routing service, and it handles a large share of Solana's swap volume.

The JUP token

JUP is the governance token, distributed initially through one of the largest airdrops in the ecosystem's history in January 2024. It has a maximum supply of 10 billion tokens, with total supply currently at roughly 6.86 billion and circulating supply near 3.32 billion.

Governance covers decisions on the launchpad, on how the treasury and emissions are used, and on protocol direction. Jupiter has run repeated distribution events and has also operated a launchpad that has hosted significant Solana token launches, giving the token a role in access to those events as well as in voting.

Because a substantial portion of supply remains unreleased, the schedule under which it enters circulation is one of the more material factors for the token.