What is expected in the development of JUP?
Jupiter’s roadmap is focused on growing its decentralized finance (DeFi) ecosystem with three main goals:
- Launching JupUSD Stablecoin (Q4 2025) – A new stablecoin built on the Solana blockchain, integrated into Jupiter’s products.
- Launching Jupnet Public Testnet (Early Q4 2025) – A network to enable easy token swaps across different blockchains.
- Relaunching DAO Governance (2026) – Updating the voting system after a pause to improve decision-making.
Deep Dive
1. JupUSD Stablecoin Launch (Q4 2025)
Overview: Jupiter is teaming up with Ethena Labs to introduce JupUSD, a stablecoin native to Solana. It will be backed by short-term U.S. Treasury bonds (USDtb) and later by Ethena’s USDe stablecoin. JupUSD will replace $750 million worth of USDC in Jupiter’s liquidity pools and be used for trading, lending, and as collateral (Ethena Labs).
What this means: This is a positive sign for Jupiter (JUP) because having its own stablecoin could increase liquidity and reduce dependence on outside stablecoins. However, there are risks like regulatory challenges and maintaining the stablecoin’s value during market ups and downs.
2. Jupnet Public Testnet (Early Q4 2025)
Overview: Jupnet is designed to connect liquidity across multiple blockchains, allowing users to swap tokens easily between Solana, Ethereum, and others. The testnet will focus on secure, cross-chain swaps and making wallets work smoothly across networks (Jupiter Q2 Report).
What this means: This development could be good for Jupiter, potentially making it a leader in cross-chain trading. But it’s a complex technical challenge, and there’s strong competition from projects like THORChain.
3. DAO Governance Relaunch (2026)
Overview: Jupiter paused its governance voting in June 2025 due to concerns about too much control being centralized. They plan to bring back a new governance model in 2026, possibly including delegated voting or special councils to balance decision-making power (The Defiant).
What this means: This is a neutral update. Better governance could attract more serious investors, but if centralization issues continue, it might turn off users who value decentralization.
Conclusion
Jupiter’s roadmap is focused on expanding its DeFi ecosystem with the launch of JupUSD and Jupnet, along with improving governance. These moves aim to strengthen Jupiter’s position as a key player in Solana’s DeFi space. While these innovations are promising, success depends on how well they are executed and how the market responds. How will JupUSD’s introduction change the stablecoin market on Solana compared to established players like USDC and USDT?
What updates are there in the JUP code base?
Jupiter's software received three key updates in mid-2025, focusing on improving API performance, enhancing security, and building trust within its ecosystem.
- Token Verification v4 (August 2025) – Cut down fake token listings by 40% through tougher audits.
- API Overhaul (June 2025) – Launched V3 API endpoints with better error detection and tiered access levels.
- Dev Tokens Tab (July 2025) – Helped spot repeated scams by tracking wallet activity.
Deep Dive
1. Token Verification v4 (August 2025)
Overview:
This update introduced stricter rules for listing tokens, including mandatory third-party audits and minimum liquidity requirements.
The goal was to reduce scam tokens by ensuring new tokens meet higher standards before being listed. Early results show about a 40% drop in fake tokens within the first week after the update.
What this means:
This is good news for Jupiter (JUP). Safer trading conditions can attract more everyday users and lower the risk of regulatory problems. (Source)
2. API Overhaul (June 2025)
Overview:
Jupiter replaced its older APIs with new V3 endpoints designed to be more reliable, especially for institutional users.
Developers who pay for premium access use api.jup.ag, which offers faster responses and detects unusual activity. Free users access lite-api.jup.ag but face stricter limits on usage. Because of these changes, some older API calls like /trigger/v1 no longer work and require updates.
What this means:
This update is somewhat positive for JUP. The improved infrastructure could attract larger partners, but the need to update code might discourage smaller developers. (Source)
3. Dev Tokens Tab (July 2025)
Overview:
A new feature was added to track tokens created by specific wallets, helping to identify suspicious behavior.
Working with Meteora, Jupiter Pro compares token data and wallet histories to flag potential scams known as rug-pulls.
What this means:
This is a neutral update for JUP. It improves user safety but doesn’t directly increase trading or revenue. (Source)
Conclusion
Jupiter’s 2025 updates focus on security and scalability, aiming to serve both everyday users and large institutions. These improvements strengthen its role as Solana’s main liquidity platform, but it remains to be seen if developer adoption will keep up with the platform’s growing technical demands.
Why did the price of JUP fall?
Jupiter (JUP) dropped 3.92% in the last 24 hours, performing worse than the overall crypto market, which fell 1.94%. The main reasons include forced selling from leveraged positions, weak price support, and reduced enthusiasm for Solana’s decentralized finance (DeFi) projects.
- Market-wide risk-off sentiment – After a wave of forced sell-offs, JUP fell below important price levels.
- Technical breakdown – JUP’s price fell below $0.37, triggering automatic sell orders.
- Cooling Solana DeFi activity – Despite
What could affect the price of JUP?
Jupiter (JUP) is facing mixed signals: its growth in decentralized finance (DeFi) is challenged by token dilution and questions about its governance.
- JupUSD Stablecoin Launch (Q4 2025) – May increase platform use but could face challenges maintaining its value peg.
- DAO Governance Pause (Until 2026) – Raises concerns about centralization but may speed up decision-making.
- Token Unlocks ($33M in July 2025) – Selling pressure continues despite some tokens being absorbed by the market.
Deep Dive
1. JupUSD Stablecoin & Lending Platform Launch (Positive Outlook)
Overview: Jupiter plans to introduce JupUSD, a stablecoin built on the Solana blockchain, in the fourth quarter of 2025. This launch is in partnership with Ethena Labs. Jupiter will convert $750 million of its USDC holdings into JupUSD and use it across its services like perpetual contracts, lending, and token swaps. Additionally, Jupiter Lend’s public beta started in August 2025, offering $2 million in incentives and over 40 vaults with loan-to-value (LTV) ratios up to 90%.
What this means: JupUSD could increase liquidity within Jupiter’s ecosystem and reduce dependence on external stablecoins like USDC. The high LTV ratios in lending might attract traders looking to leverage their positions. However, the success of JupUSD depends on widespread adoption. If it fails to gain traction, it could face risks similar to the collapse of Terra’s UST stablecoin. (Ethena Labs)
2. DAO Governance Freeze (Negative Outlook)
Overview: Jupiter has paused all decentralized autonomous organization (DAO) voting until 2026 due to “governance gridlock.” During this pause, the Jupiter team controls treasury decisions, including management of the $62 million Litterbox Trust, which holds JUP reserves. Critics worry this centralizes power, while supporters believe it allows faster product development.
What this means: Less community involvement may discourage supporters who value decentralization, potentially weakening JUP’s reputation as a governance token. On the other hand, quicker decision-making has helped Jupiter’s fundamentals, as seen in a 12% price increase after the lending platform launch despite the governance pause. (Jupiter DAO Update)
3. Token Unlocks & Staking Effects (Mixed Outlook)
Overview: On July 28, 2025, 53.47 million JUP tokens (worth $33 million) were unlocked, increasing the circulating supply by 1.28%. Despite this, JUP’s price only dropped 3.6%, as 42% of the unlocked tokens were absorbed by the market. Jupiter’s Active Staking Rewards (ASR) program now distributes 50 million JUP tokens per quarter to stakers, with about 23% of tokens currently staked.
What this means: Token unlocks can lead to selling pressure, but staking incentives encourage holders to keep their tokens locked up. If staking rises above 30%, the reduced liquid supply could help offset dilution. It’s important to watch token flows on exchanges after unlock events.
Conclusion
Jupiter’s future depends on balancing Solana’s growing DeFi ecosystem with challenges from token dilution and governance concerns. The combination of JupUSD and the lending platform could help push JUP’s price toward $0.50 (the 38.2% Fibonacci retracement level). However, if JupUSD struggles to maintain its peg or if the Jupnet testnet launch (expected Q4 2025) is delayed, the recent 32% price decline over 90 days could continue. Keep an eye on the Fear & Greed Index on October 15 (currently at 37); a move to “Neutral” could boost interest in altcoins. Will JupUSD’s launch help Jupiter regain ground as Solana’s decentralized exchange (DEX) market share shrinks by 12% last week?
What are people saying about JUP?
The Jupiter (JUP) community is divided between excitement over validators and frustration with governance. Here’s what’s trending right now:
- Positive outlook on Jupiter Lend – Offering loans up to 90% of asset value is boosting confidence in decentralized finance (DeFi).
- Concerns over token unlocks – $32 million worth of tokens becoming available is testing the price’s strength.
- Pause in DAO governance – Some see this as a warning sign of centralization.
Deep Dive
1. @JupiterExchange: Launching a lending platform this summer 🔥
"Jupiter Lend offers loans up to 90% of your asset’s value – a big deal for Solana’s DeFi scene."
– @JupiterExchange (825K followers · 2.8M impressions · 2025-07-11 08:07 UTC)
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What this means: This is good news for JUP. High loan-to-value (LTV) loans could bring more money into Solana’s ecosystem, where Jupiter handles 80% of decentralized exchange (DEX) trading volume.
2. @ali_charts: Key price level at $0.63 🚧
“If JUP rises above $0.63, it could climb to $0.76; if it falls below, $0.51 is the next support level.”
– @ali_charts (380K followers · 1.1M impressions · 2025-07-29 08:47 UTC)
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What this means: The price outlook is uncertain. Whether the price goes up or down depends on if buyers can handle the selling pressure from the recent $32 million token unlock.
3. Reddit threads: DAO governance paused until 2026 ❄️
“Stopping governance for 18 months undermines decentralization – the team holds too much control.”
– Reddit user (via CMC Community · 2025-07-31 19:30 UTC)
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What this means: This is a negative sign for investors who value decentralization. However, it might let the team focus on launching new products in the short term.
Conclusion
The overall view on JUP is mixed. There’s optimism from Solana’s growing DeFi market and the new Jupiter Lend platform, but concerns remain about token dilution and governance issues. Watch the $0.51 support level closely this week—if it breaks, it could trigger sell-offs, but if it holds, it might encourage buying. Also, keep an eye on how quickly unlocked tokens are being sold by monitoring on-chain data through October.
What is the latest news about JUP?
Jupiter is making strides through new partnerships and navigating market ups and downs while advancing decentralized finance (DeFi) innovation. Here are the latest highlights:
- Tokenized Stocks Integration (October 15, 2025) – Forward Industries teams up with Jupiter Lend to bring tokenized stocks to the blockchain.
- $750 Million USDC Converted to JupUSD (October 14, 2025) – Jupiter boosts its native stablecoin, JupUSD, as Solana’s market recovers.
- DEX Volume Record (October 13, 2025) – Jupiter handled $2.34 billion in trading volume during a major crypto market sell-off.
Deep Dive
1. Tokenized Stocks Integration (October 15, 2025)
Overview: Superstate partnered with Backpack Exchange to launch SEC-registered tokenized stocks like Apple (AAPL) and Tesla (TSLA) on the Solana blockchain. Forward Industries will add its tokenized Ford (FORD) shares to Jupiter Lend, Kamino, and Drift Protocol. This allows users outside the U.S. to borrow against these stocks or trade with cross-margin options.
What this means: This development is positive for Jupiter (JUP) because it expands the platform’s use beyond cryptocurrencies into traditional stock markets, potentially attracting more institutional investors. However, regulatory rules for trading these tokenized stocks across borders are still uncertain, which could pose challenges. (The Block)
2. $750 Million USDC Converted to JupUSD (October 14, 2025)
Overview: Jupiter announced it will convert $750 million of its USDC stablecoin reserves into JupUSD, its own stablecoin backed by treasury assets. This move aims to increase liquidity for Solana-based DeFi products like perpetual swaps and lending.
What this means: This strengthens Jupiter’s ecosystem by relying more on its native stablecoin, which can improve self-sufficiency. However, if JupUSD doesn’t gain enough users quickly, there’s a risk of too much concentration in one asset. Also, converting a large amount of USDC might temporarily reduce USDC availability on Jupiter’s platform. (Yahoo Finance)
3. DEX Volume Record (October 13, 2025)
Overview: During a massive $19 billion crypto liquidation event, Jupiter processed $2.34 billion in derivatives trading volume, making up 52% of all decentralized exchange (DEX) activity on Solana. Jupiter kept trading fees under $0.01. Other Solana DEXs like Orca also saw daily volumes over $1 billion.
What this means: This shows Jupiter’s strong position in handling large trading volumes efficiently. However, since 62% of Solana’s revenue comes from trading volatile meme coins, there are questions about how sustainable this growth is over time. (Bitcoinist)
Conclusion
Jupiter is successfully connecting traditional finance with decentralized finance by introducing tokenized stocks and expanding its stablecoin ecosystem. Still, its growth depends heavily on the ups and downs of the Solana market. The launch of JupUSD could help stabilize liquidity, but if too much is tied up in collateral, it might put pressure on Jupiter’s treasury.