Solana

DeFi

USDC

Jupiter

sUSD

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/exploring-jupiter-a-multifaceted-defi-protocol-on-the-solana-blockchain" rel="noopener noreferrer nofollow">Exploring Jupiter: A Multifaceted DeFi Protocol on the Solana Blockchain</a><br></p>
<p style="text-align: justify">Jupiter, a prominent DeFi protocol on the Solana blockchain, integrates various functionalities, making it a comprehensive platform in the DeFi space. It is now available for trading on Binance, where users can also purchase its native token, JUP coin.</p>
<h2 id="understanding-jupiter-s-ecosystem">Understanding Jupiter’s Ecosystem</h2>
<p style="text-align: justify">Initially, Jupiter began as a liquidity aggregator for token swaps, akin to 1inch on Ethereum. However, it quickly expanded its services by including GMX-style perpetual futures, thereby enhancing its platform capabilities.</p>
<p style="text-align: justify">Distinguishing itself from other liquidity aggregators, Jupiter introduced a decentralized stablecoin, sUSD, which is backed by Solana liquid stake tokens (LSTs). This move aimed to mitigate the custody and regulatory risks associated with established stablecoins like USDC and <a href="https://en.bitcoinhaber.net/tether-and-bitfinex-take-steps-towards-transparency-and-reserve-confidence" rel="noopener noreferrer nofollow">USDT</a>. sUSD promotes a greater degree of decentralization and allows for interest-free loans, with SOL collateral generating yield and offering ongoing interest-free credit exposure to SOL.</p>
<p style="text-align: justify">The governance aspect of Jupiter is facilitated through the JUP coin, which empowers the community to engage in the platform’s decision-making processes. JUP coin serves multiple roles, including transaction validation and voting, with a total supply capped at 10 billion and an initial circulating supply of 1.35 billion as of January 31, 2024.</p>
<p style="text-align: justify">For those interested in acquiring JUP coin, Binance is the go-to exchange, supporting various trading pairs such as JUP/USDT, JUP/FDUSD, and JUP/TRY. Users need to register on Binance, deposit funds, and then proceed to purchase JUP coin through the desired trading pair interface.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/exploring-jupiter-a-multifaceted-defi-protocol-on-the-solana-blockchain" rel="noopener noreferrer nofollow">Exploring Jupiter: A Multifaceted DeFi Protocol on the Solana Blockchain</a></h5>

Exploring Jupiter: A Multifaceted DeFi Protocol on the Solana Blockchain

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