Jupiter: programs, progress and news

Analyst view

Jupiter launched in October 2021 as a DEX aggregator and has grown into Solana's dominant DeFi platform.
In 2026, Jupiter processes over 50% of Solana's total DEX swap volume.
The team expanded to 80+ members and maintains a 20% stake in the JUP token; governance paused in 2025 for restructuring.

As reported

Routing

Jupiter scans Solana AMMs to find the best execution path, bundling multiple hops into one transaction.

Perpetuals

Traders take long/short positions against the JLP vault and market maker inventory, with leverage up to 250x.

Stablecoin

Reserve-backed stablecoin integrated with Ethena Labs, serving as collateral for perpetuals.

Programs

Jupiter, one program

Updated 20 Jun 2025

Research · Proto · Pilot · Deploy · Scaling

1 item

Oct 2021
demoJupiter DEX aggregator launches on Solana (opens solanacompass.com)Jupiter Aggregator & Perps
Jupiter began as a swap aggregator to solve Solana's liquidity fragmentation problem, quickly becoming the dominant routing protocol.

Open · Active · Partial

Scaling cross-DEX executionActive research
As Solana's throughput and DEX fragmentation both grow, aggregating liquidity across more venues while keeping latency low remains a technical challenge.
Governance restart and community trustActive research
After pausing DAO votes in June 2025 due to governance breakdown, Jupiter must rebuild community trust in its decision-making structure.

Trading & DeFi · 8

4 partners

Partner
Raydium (opens raydium.io)
One of the primary DEXes aggregated by Jupiter.
Partner
Orca (opens orca.so)
One of the primary DEXes aggregated by Jupiter.
Partner
Meteora (opens meteora.ag)
Dynamic liquidity pool integrated with Jupiter.
Partner
Ethena Labs (opens ethena.fi)
Reserve backing for JupUSD stablecoin launched in early 2026.

Key people