Binance, a leading platform for trading digital assets, made the announcement today that it would be among the first exchanges to offer JUP, the highly awaited native token of Jupiter. Jupiter is a decentralized exchange (DEX) swap aggregator that is headquartered on Solana and allows users to trade and access liquidity across many DEXs.
According to DefiLlama, Jupiter, which was introduced in 2021, has rapidly become the most popular decentralized exchange (DEX) aggregator in the world. On January 25, 2024, Jupiter said that it had a 24-hour volume of $486.62 million. Jupiter, which is marketed as Solana's first on-chain swap aggregation platform, provides customers with a user-friendly interface and powerful trading processes. This enables users to conduct transactions at high speeds and with little slippage. Access to liquidity pools across all of Solana's automated market makers (AMM) and decentralized exchanges (DEXs) is one of the features that Jupiter offers. Other features include cross-chain transactions and cheap transaction costs.
In its capacity as Jupiter's native governance token, JUP will provide users the opportunity to have a voice not only in the future of Jupiter's ecosystem but also in the development of essential components of the token itself. A future Jupiter decentralized autonomous organization (DAO) will be governed by JUP token holders, who will also have the ability to vote on the kinds of projects and activities that the ecosystem will support.
A parallel can be drawn between the popularity of Jupiter and the significant increase that Solana has had over the last several months. As one of the first exchanges to launch the highly anticipated JUP coin, we at Binance are happy to be able to acknowledge the creative potential that Jupiter has within the context of the decentralized financial environment.
An announcement was made by Binance that it intends to offer the digital asset known as Jupiter (JUP) commencing at 15:30 (UTC) on January 31, 2024. JUP/USDT, JUP/FDUSD, and JUP/TRY are some of the spot trading pairings that will be made available to customers.
Consequently, users are able to begin putting their JUP tokens into their Binance accounts prior to the debut of the trading platform. The beginning of withdrawal activities is anticipated to take place at 15:30 (UTC) on February 1, 2024. It is important to note that the listing cost for Jupiter on the site has been calculated to be 0 BNB.
