What Jupiter does

Jupiter is the dominant decentralized trading platform on the Solana blockchain, founded in 2021 by pseudonymous founder Meow and bootstrapped profitably until its first external capital raise in February 2026. Originally launched as a DEX aggregator that routes token swaps across approximately 20+ Solana liquidity sources using its proprietary Metis routing algorithm, Jupiter has expanded into a comprehensive on-chain finance superapp. The platform now offers spot trading, perpetual futures with up to 250x leverage, lending and yield vaults, prediction markets integrated with Polymarket, peer-to-peer lending via Offerbook, a native stablecoin (JupUSD backed by BlackRock's BUIDL fund), and a unified Portfolio dashboard tracking 140+ protocols.

The platform processes over $1.16 trillion in annual trading volume (2025) and over $3 trillion in lifetime volume, capturing 90-95% of Solana's DEX aggregator volume and reaching 50+ million wallets. Jupiter operates a hybrid go-to-market combining self-serve product-led growth via web and mobile apps with distribution partnerships where Coinbase, Kraken, and Robinhood route Solana-native token trades through Jupiter's infrastructure. Revenue is generated primarily through protocol fees on swaps and perpetuals ($650M annualized), lending fees ($1.6B deposits, $610M borrows since August 2025 launch), and stablecoin yield. The platform generated $514M in gross revenue in 2025 (33% YoY increase) and approximately $150M in annualized protocol revenue as of early 2026.

Strategic positioning has evolved from pure swap aggregation to full DeFi superapp via aggressive product expansion (Ultra V3 engine, JupUSD, Jupiter Lend, Jupiter Predict, Jupiter Global neobank) and six acquisitions (SolanaFM, Coinhall, SonarWatch, Moonshot, DRiP Haus, Rain.fi) executed between September 2024 and December 2025. Jupiter is led by founder Meow with Xiao-Xiao J. Zhu appointed President in December 2025 to focus on stablecoins and omnichain expansion. The company abandoned its DAO structure citing governance dysfunction and now operates under centralized leadership while maintaining the JUP token's governance and buyback mechanics.

Name

Jupiter

Legal name

Jupiter

Website

https://jup.ag

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Jupiter is a Solana-based decentralized trading platform and DeFi superapp that aggregates liquidity across 20+ DEXs and offers spot trading, perpetuals up to 250x leverage, lending, prediction markets, and a BlackRock-backed stablecoin (JupUSD). It captures 90-95% of Solana's aggregator volume and serves over 50 million wallets.

Ownership category

akta.pro rank

Product category

Decentralized Finance (DeFi) Protocol

NAICS

Securities and Commodity Exchanges (52321), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

DEX Aggregators & Smart Order Routing (FSADABAC)

Keywords

• DEX aggregator services
• Decentralized exchange platform
• Perpetual futures trading
• Onchain lending protocol
• Prediction markets trading

Headquarters

HQ city

San Juan

HQ country

Puerto Rico

HQ region

Latin America

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Trading fees / Swap fees: Jupiter earns fees on every token swap executed through its aggregator by routing trades across DEX liquidity sources. Fee structure includes a 1% fee on buy and sell transactions on its Terminal cooking feature. Jupiter routes approximately 80-95% of Solana's DEX aggregator volume, generating consistent fee revenue from trading activity.
2. Protocol fees and JUP token economics: 50% of Jupiter Protocol Fees are sent to the Litterbox Trust, which programmatically accumulates JUP tokens. Jupiter has conducted buyback programs (140M JUP bought back vs 134M burned as of late 2025) creating a deflationary mechanism for the JUP governance token.
3. JupUSD stablecoin yield: JupUSD stablecoin serves as a settlement asset, with Jupiter potentially capturing yield from the stablecoin's backing assets (USDtb backed by BlackRock BUIDL fund, and USDC held in segregated custodians). The $35M ParaFi investment in JupUSD nearly doubled its circulating supply, creating expanded stablecoin revenue opportunities.
4. Perpetual futures fees: Jupiter Perps charges fees on perpetual futures trades up to 250x leverage, capturing a share of the $405.84 billion perpetual futures market. Jupiter processed over $264 billion in perpetuals volume in 2025 with over 75% market share on Solana.
5. Jupiter Lend lending fees: Jupiter Lend generates revenue from lending and borrowing activities, having captured $1.6 billion in deposits and $610 million in borrows since its late August 2025 launch. Institutional markets such as Bitwise-curated Ethena markets are designed to scale into billions in capacity.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels6 records

Core offering

Jupiter is a Solana-based decentralized trading platform and onchain finance superapp. Its core offering is a DEX aggregator that routes token swaps across approximately 20 Solana liquidity sources using its proprietary Metis routing algorithm to secure optimal exchange rates. The platform has expanded into perpetual futures (up to 250x leverage), lending and yield vaults, prediction markets (Polymarket integration), a native USD stablecoin (JupUSD), peer-to-peer lending (Offerbook), and a token launchpad, all accessible via web and mobile.

Product overview

Jupiter is a comprehensive onchain finance superapp built on Solana, evolved from a token swap aggregator into a multi-product platform offering spot trading (Jupiter Swap), perpetual futures (Jupiter Perps up to 250x leverage), prediction markets (Jupiter Predict integrated with Polymarket), lending (Jupiter Lend with institutional Bitwise-curated markets), yield vaults, and a mobile trading app. The platform also features Jupiter Terminal for memecoin discovery, Jupiter Portfolio for multi-protocol tracking, Jupiter Global for neobank services with Noah, and P2P lending through Jupiter Offerbook. Jupiter issues its own stablecoin JupUSD backed by BlackRock's BUIDL fund and powers trading infrastructure for Coinbase and Kraken. Recent acquisitions include SolanaFM, Coinhall, DRiP Haus, and Rain.fi. The platform has processed over $1 trillion in trading volume and generates revenue through protocol fees, lending interest, and trading fees.

Differentiator

Problem solved

Functional benefit

Brands

• Jupiter Perps: Perpetual futures trading platform on Solana, offering leverage trading up to 250x on assets including BTC, ETH, and SOL.
• Jupiter Lend
• Jupiter Predict
• Jupiter Start
• Jupiter Mobile
• Jupiter Global

Products and services

• Jupiter Swap DEX aggregator that routes token swaps through multiple Solana DEXs to offer users optimal exchange rates using the proprietary Metis routing algorithm. Free for end users; monetized via protocol-level fees on routed trades.
• Jupiter Perps Perpetual futures trading platform offering leverage up to 250x on Bitcoin, Ethereum, Solana, and other assets. Processed over $264 billion in 2025 volume with over 75% market share on Solana perpetuals.
• Jupiter Lend Lending and yield platform featuring vault strategies, borrowing, multiply loops, and institutional-grade markets curated by Bitwise for Ethena USDe, powered by Fluid's lending infrastructure.
• Jupiter Predict Prediction markets platform integrated with Polymarket for trading on political, sports, crypto, and cultural events including World Cup 2026 challenges.
• Jupiter Portfolio
• Jupiter Terminal
• Jupiter Offerbook Permissionless peer-to-peer lending platform on Solana enabling loans without price-based liquidations, allowing users to create custom loan terms directly between wallets.
• JupUSD Stablecoin Dollar-pegged stablecoin issued natively on Solana in partnership with Ethena Labs, serving as a core settlement asset across Jupiter's product suite.
• Ultra V3 Trading Engine Advanced trading engine introducing ShadowLane, Predictive Execution, and Iris router for improved trade execution, protection, and efficiency on Solana.
• Jupiter Mobile App
• Regulated Tokenized Equity Trading Fully on-chain, regulated trading of tokenized equities (e.g., SNDK, SPCX) on Solana in partnership with Securitize and Jump Trading Group.
• Jupiter Global Neobank integration with Noah enabling users to earn, hold, and spend across crypto and fiat from a single platform with USD/EUR virtual accounts and compliant cross-border transfers.
• Wrapped XRP (wXRP) on Solana Wrapped XRP available on Solana DeFi platforms including Jupiter, backed 1:1 by native XRP held in Hex Trust custody.

Quantifiable outcome

• $1.16T annual trading volume in 2025 (33% YoY increase)
• +6 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

AI capability3 records

Feature13 records

Partnerships

19 partnerships are on record, tiered major, core and minor.

• KrakenmajorChannel Partner/ Reseller/ Distributor · 18 June 2026Kraken integrated Solana DEX trading directly into its core mobile app in June 2026, routing trades through Jupiter and enabling US users in 100+ countries to access 2,500+ Solana-based tokens, following a similar integration by Coinbase in late 2025.
• Visa (via Jupiter Global)majorChannel Partner/ Reseller/ Distributor · 27 May 2026Visa captures approximately 90% of crypto card transactions through partnerships with onchain-native companies including Jupiter Global, enabling stablecoin payment rails for everyday spending including groceries and restaurants without displacing traditional payment networks.
• Bitwise Asset ManagementcoreStrategic or Co-development Partner · 13 May 2026Bitwise Asset Management became the first institutional asset manager to curate a market on Jupiter Lend, launching an Ethena USDe-focused lending market designed to scale into billions of dollars in institutional capital. Bitwise applies its onchain asset management and risk oversight capabilities to support institutional participation in Jupiter's on-chain lending infrastructure.
• Fluid (Lending Infrastructure)coreTechnology or Integration · 13 May 2026Jupiter Lend is powered by Fluid's lending infrastructure for its institutional-grade Ethena USDe market, combining Fluid's technical lending rails with Bitwise's curation and Jupiter's distribution to create a framework bridging traditional institutional capital with onchain lending.
• SecuritizecoreStrategic or Co-development Partner · 5 May 2026Securitize partnered with Jump Trading Group and Jupiter to launch fully on-chain, regulated trading for tokenized equities on Solana, combining Securitize's regulatory infrastructure and KYC-enabled wallets, Jump's PropAMM liquidity provision, and Jupiter's distribution interface with over $2 trillion in trading volume and 43 million active wallets.
• Jump Trading GroupcoreStrategic or Co-development Partner · 5 May 2026Jump Trading Group provides PropAMM liquidity on Solana as part of the Securitize/Jupiter tokenized equities trading platform, creating institutional-grade secondary markets for tokenized real-world assets under existing securities regulations including Regulation NMS.
• Moonshot InternationalmajorChannel Partner/ Reseller/ Distributor · 14 March 2026Moonshot International launched leverage trading with up to 250x leverage on Bitcoin, Ethereum, and Solana, powered by Jupiter Perps infrastructure on Solana, with support for fiat on-ramps including Apple Pay, Venmo, and debit cards without requiring a crypto wallet. The product targets Moonshot's existing 2 million+ user base.
• ChainlinkmajorTechnology or Integration · 10 March 2026Jupiter integrated Chainlink's decentralized oracle network to secure its prediction market launched in partnership with Polymarket, providing tamper-resistant price and event feeds for improved DeFi security and settlement reliability compared to Solana-native oracles like Pyth.
• Noah (Global Payments)majorStrategic or Co-development Partner · 24 February 2026Jupiter and Noah partnered to integrate neobank features into Jupiter Global, enabling 50+ million users to access fiat-crypto settlement through USD and EUR virtual accounts, compliant cross-border transfers, instant on-chain earnings payouts to local bank accounts. Launches with SGD and MYR support, expanding to AED, IDR, JPY, THB, and additional currencies across APEC region.
• PolymarketcoreStrategic or Co-development Partner · 2 February 2026Jupiter integrated Polymarket prediction markets onto Solana, launching a built-in Prediction feature within the Jupiter app allowing users to trade Polymarket contracts covering politics, macroeconomics, sports, and culture. The integration positions Jupiter as a comprehensive on-chain predictions hub. Polymarket had recorded $7.66 billion in volume in January 2026.
• CoinbasecoreChannel Partner/ Reseller/ Distributor · 29 January 2026Coinbase integrated Jupiter into its trading infrastructure, enabling users to trade Solana-native tokens directly through the Coinbase app using on-chain liquidity routing instead of traditional exchange listings. Jupiter serves as the execution engine aggregating liquidity across Solana DEXs, while Coinbase provides distribution, on-ramps, and user experience for accessing Solana-native tokens.
• Rain.fimajorStrategic or Co-development Partner · 11 December 2025Jupiter acquired Rain.fi, a platform on Solana, to enhance its ecosystem and promote on-chain credit market growth. Rain.app continued operating for several months during a transition period before full integration into Jupiter's credit/lending infrastructure.
• Ethena LabscoreStrategic or Co-development Partner · 8 October 2025Ethena Labs partnered with Jupiter to launch JupUSD, a native Solana-based stablecoin slated for Q4 2025, with Jupiter planning to convert approximately $750 million of USDC from its Liquidity Provider Pool into the new token. JupUSD is backed by USDtb (collateralized by BlackRock's BUIDL fund) and USDC as a liquidity buffer. Ethena manages day-to-day reserve operations including custody coordination and rebalancing.
• Ondo Finance (Global Markets Alliance)minorStrategic or Co-development Partner · 17 June 2025Jupiter joined Ondo Finance's Global Markets Alliance alongside the Solana Foundation, Bitget Wallet, Trust Wallet, Rainbow Wallet, BitGo, Fireblocks, and 1inch to develop shared standards and infrastructure for tokenized real-world assets, enabling cross-platform interoperability and improved access to tokenized securities.
• DRiP HausminorStrategic or Co-development Partner · 3 April 2025Jupiter acquired NFT collectibles platform DRiP Haus to expand Jupiter's services into the NFT industry and integrate NFT tools into its platform. The strategic move aimed to leverage DRiP Haus's expertise and user base to deepen NFT integration within Jupiter's ecosystem.
• SolanaFMmajorStrategic or Co-development Partner · 20 September 2024Jupiter acquired blockchain explorer SolanaFM in September 2024 during the Solana Breakpoint event in Singapore to enhance Jupiter's data and infrastructure capabilities, expanding its offerings across Solana and Cosmos blockchains.
• CoinhallmajorStrategic or Co-development Partner · 20 September 2024Jupiter acquired decentralized trading terminal Coinhall in September 2024 during the Solana Breakpoint event to enhance cross-chain trading functionalities and expand Jupiter's infrastructure capabilities across Solana and Cosmos.
• Backpack SecuritiesmajorTechnology or IntegrationJupiter lists tokenized SanDisk stock ($SNDK) issued by Backpack Securities, a regulated US brokerage, on its platform. The token trades 24/7 on Jupiter and Raydium DEXs, backed 1:1 by real SanDisk shares and redeemable through Backpack Securities.
• Sunrise (by Wormhole Labs)majorTechnology or IntegrationSunrise, developed by Wormhole Labs, launched tokenized SanDisk stock ($SNDK) on the Solana blockchain via Backpack Securities, with tokens tradeable 24/7 on Jupiter and Raydium decentralized exchanges, creating a bridge between blockchain markets and traditional brokerage accounts.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Matcha (by 0x): DEX aggregator built on 0x protocol. Matcha is a direct competitor in retail-focused DEX aggregation with similar product positioning to Jupiter Swap.
• Raydium: Solana's largest native AMM DEX. Raydium is one of the primary liquidity sources that Jupiter's aggregator routes through, and it competes directly with Jupiter's native swap and perpetuals products.
• Orca: Solana-native concentrated liquidity DEX. Orca is another key liquidity source for Jupiter's aggregator and a direct competitor for Solana swap volume and trader mind-share.
• Kamino Finance: Solana's leading lending and liquidity marketplace. Kamino is Jupiter Lend's most direct competitor in on-chain lending and borrowing on Solana.
• Drift Protocol: Solana-based perpetual futures and spot DEX. Drift directly competes with Jupiter Perps for leveraged trading volume on Solana.
• 1inch: Leading cross-chain DEX aggregator operating on Ethereum, BNB Chain, and others. 1inch is the most direct functional peer to Jupiter's core swap aggregator business, although Jupiter is Solana-focused.
• CowSwap (CoW Protocol): DEX aggregator using batch auctions and MEV protection. CoW Protocol is a direct comparable in the DEX aggregation category with a different routing mechanism (intent-based) than Jupiter's liquidity-routing model.
• Hyperliquid: Leading perpetual futures DEX on its own L1 chain. Hyperliquid is the most direct comparable to Jupiter Perps in the on-chain perpetual futures category, although it operates on a different chain.
• dYdX: Established perpetual futures DEX with its own appchain. dYdX is a comparable perpetual futures venue targeting professional traders, similar to Jupiter Perps' positioning.

Emerging players

• Phoenix (Ellipsis Labs): Solana-native orderbook DEX for spot and perpetuals. Phoenix represents a more specialized orderbook-based competitor to Jupiter's AMM-based swap and perp products on Solana.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/JupiterExchange
• GitHubgithub.com/jup-ag
• LinkedInlinkedin.com/company/jupiterexchange-ag

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jupiter