Jupiter DEX expands services by integrating new meme tokens on Solana
Jupiter DEX expands services by integrating new meme tokens on Solana
Jupiter DEX, a decentralized exchange on the Solana network, recently expanded its services to offer spot trading for new and high-risk meme tokens. The new feature allows traders to directly buy early liquid tokens, and the exchange now supports Pump.fun and Moonshot, two of the most active meme token platforms in Solana.
This expansion follows Pump.fun reaching a peak in transaction volume in August, when it accounted for up to 30% of all Solana transactions on particularly active days. Since its impact began to be felt in April, Pump.fun has significantly impacted Solana DEX traffic and this trend is expected to continue as more trading tools become available.
While Pump.fun is known for its high transaction volumes, Moonshot offers traders more detailed data on liquidity pairs, albeit with slower trading activity. Both platforms now integrate with Jupiter DEX, which is designed to optimize routing and reduce commissions across Solana's various projects. The Jupiter aggregator is independent of DEX, frequently switching between different Solana projects depending on their liquidity levels.
Jupiter DEX uses Dexscreener technology to track liquidity and trend tokens. The platform then handles the exchange and routing processes with the necessary SOL fees for gas and blockchain enablement. As meme token trading remains volatile, Jupiter DEX has expanded its capabilities to offer the best possible slippage and fee terms, making it a suitable platform for retail traders looking to invest in tokens with low stakes and high risk.
The main feature of Jupiter DEX is its aggregator, which provides daily trading volumes of $338.11 million. Despite processing significant market transactions, the platform itself does not capture value and instead focuses on providing efficient routing, especially for Raydium trades.
Jupiter also introduced new tools, such as Jupiter Lock, to secure token projects by locking down liquidity and preventing rug pulling. In addition, a value averaging product was launched, allowing users to exchange SOLs for JUP tokens at the best available prices. JUP token holders can bet on their assets to generate revenue or increase their influence in community voting.
Jupiter aims to become a super app platform in the DeFi space, with the ultimate goal of distributing revenue evenly between the team and the community. Launched during Cryptozyme 2022, the project continues to adapt to the growing demand for DeFi and Solana activities, making it a key player in the decentralized trading ecosystem.
Source: TU Crypto News
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