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What is Jupiter?
Jupiter is one of the biggest DeFi protocols on Solana— in transaction volume in November 2023 alone. To put this into perspective: Uniswap and 1inch registered and respectively in the same period.
Initially, Jupiter started as a liquidity aggregator for token swaps, similar to 1inch on Ethereum. However, just recently, the platform also added GMX-style perpetual futures. In the future, Jupiter also plans on releasing a decentralized stablecoin—.
Jupiter argues that , such as USDC and USDT, come with multiple levels of custodial and regulatory risks, which should be avoided. This has motivated its team to introduce SUSD—a fully-decentralized stablecoin backed by Solana liquid staking tokens (LSTs)—as an alternative to USDC and USDT. Apart from a larger degree of decentralization, SUSD also introduces interest-free loans: The SOL used as collateral to mint SUSD earns yield, which in turn covers the cost of the mint—resulting in a perpetually interest-free loan with SOL exposure.
