At the recent Solana Breakpoint 2024 conference, Siong Ong, co-founder of Jupiter, took the stage to highlight the latest developments and innovations on the popular Solana-powered decentralized exchange (DEX). During his talk, Siong explained the three main pillars that form the Jupiter ecosystem, referred to as the “Jupy world”: the Jupiter platform, the community, and the JUP tokens. He also shared significant updates about Jupiter’s product evolution and plans for the future.
Siong Ong began by introducing Jupiter’s comprehensive platform, which he described as one of the most integrated networks across the crypto ecosystem. Jupiter operates in three key areas: spot trading, PBS (perpetual trading), and the Launchpad. Since its inception, Jupiter’s spot product has processed more than $300 billion in volume and generated $300 million in revenue for its partners, integrating over 30 decentralized exchanges (DEXes).
He also emphasized the success of Jupiter’s PBS product, which processed over $100 billion in volume in 2024 alone. The Jupiter community, which provides over $600 million in liquidity, plays a crucial role in this success. Siong noted that Jupiter’s DAO (decentralized autonomous organization) is one of the most active, with over 300,000 participants, helping to shape the platform’s direction and provide feedback on proposals.
One of the most innovative features Siong described was the Dynamic Slippage mechanism. He explained that slippage—the difference between expected and actual execution prices—can be a confusing and frustrating experience for users. The Dynamic Slippage feature calculates real-time slippage estimates based on market conditions, trading pair size, and other variables, which has significantly improved swap success rates on the platform. This innovation, according to Siong, has made trading on Jupiter safer and more user-friendly.
Siong then introduced the Jupiter Work Groups, a decentralized working model where independent, autonomous teams from the community manage various tasks, such as community outreach, ecosystem growth, and DAO coordination. The DAO funds these teams and operate in a decentralized fashion, aligning with Jupiter’s vision for the future of work in decentralized ecosystems. Siong expressed his excitement about this new model and its potential for scaling across other decentralized projects.
Another major highlight of his talk was Jupiter’s commitment to transparency. The team conducted the first-ever live community audit on Twitter, going through every transaction in the Jupiter treasury to ensure full accountability and transparency. This move is part of Jupiter’s ongoing effort to build trust with its users by maintaining transparent operations.
Siong also revealed five key product updates designed to enhance the Jupiter platform further. First, he introduced the Metropolis API Platform, which aims to make development on Solana easier by providing a comprehensive set of APIs, including a token API for verified token information, a price API for real-time trading data, and a swap API that integrates features like dynamic slippage and automatic gas fees. According to Siong, these APIs aim to streamline liquidity needs for Jupiter’s partners.
Another exciting update was the announcement of Jupiter IFQ (Instant Finality Quotes), which will soon allow top market makers to provide direct pricing quotes into Jupiter’s routing engine. Siong explained that this will lead to deeper liquidity and better pricing for users, making Jupiter one of the most competitive DEXes in terms of liquidity aggregation.
For perpetual trading, Siong unveiled Jupiter PBS V2, which introduces several improvements to address the common challenges faced by on-chain perpetual trading platforms, such as low liquidity, high fees, and latency issues. The V2 version introduces limit orders, better user experience, and a dual Oracle standard for high-availability pricing data, even during network congestion. Perhaps the most exciting feature of PBS V2 is the introduction of gasless transactions, where traders won’t have to pay gas fees, improving performance and reducing costs.
Siong continued by discussing Jupiter’s new mobile app, which aims to onboard millions of users to Solana by providing a seamless, frictionless experience for decentralized trading. He emphasized features like easy on-ramp options, such as Apple Pay and Google Pay, as well as a one-tap swap feature that simplifies the trading process. Jupiter’s mobile app integrates all tokens for immediate trade and supports zero platform fees, making it an attractive gateway for new users entering the Solana ecosystem.
Finally, Siong concluded with a fun announcement: the launch of Ape Pro, a feature designed to make meme coin trading more engaging and fun on Solana. Ape Pro offers zero seed phrases, seamless Google login, and fast transactions using Jupiter’s Keeper backend infrastructure. In addition to token minting, Ape Pro includes features like vesting and liquidity locking, which allow token creators to mint new tokens and earn perpetual fees.
Siong wrapped up his talk by celebrating Jupiter’s progress over the past year and expressing excitement about the platform’s future. He also announced two major acquisitions: Solana FM, a leading Solana data infrastructure platform, and Coinall, a Cosmos-based aggregator with over $2.6 billion in volume. These acquisitions, Siong explained, will further strengthen Jupiter’s position in the decentralized trading space.
Featured Image via YouTube
