In our commitment to broaden our offerings continually, we are introducing a new project addition - Jupiter. A decentralized exchange aggregator built on the Solana blockchain.
This article explores Jupiter and explains what it is and what makes it unique. You will learn about the Jupiter native token, $JUP, its tokenomics, and token statistics. The article concludes by providing steps for you to buy and trade the JUP tokens.
What is Jupiter?
Jupiter is a unique decentralized exchange aggregator built on the Solana blockchain. The key factor that distinguishes Jupiter from other decentralized exchanges is its ability to aggregate multiple decentralized exchanges into a unified user interface, rather than being limited to a single exchange. By bringing these different exchanges into one place, Jupiter gives users an easier way to trade cryptocurrencies across various decentralized sources.
Jupiter works by providing an easy-to-use interface that allows users to trade cryptocurrencies across various decentralized exchanges at once. It offers tools like a swap feature to trade one coin for another, limit orders to set target prices, and dollar-cost averaging to regularly invest over time. Jupiter also provides guides to help new exchanges and crypto projects get listed and visible on their platform.
What makes Jupiter unique is that it combines multiple decentralized exchanges and creates a more open and competitive trading environment with better pricing and liquidity. The user-friendly tools also make advanced trading strategies accessible to both beginner and experienced crypto traders. This decentralized and versatile approach of Jupiter stands out in the industry of decentralized finance (DeFi).
What is the JUP Token?
JUP token is the native cryptocurrency of the Jupiter decentralized exchange. JUP tokens play an important role in governing the Jupiter ecosystem and incentivizing participation within the platform. With a maximum supply of 10 billion tokens, JUP tokens are being distributed through a careful tokenomics plan that allocates portions to the core team, strategic reserves, liquidity provision, and, most importantly, to the community itself through periodic airdrops.
By giving a stake in the platform's growth and decision-making processes via JUP token ownership, Jupiter aims to foster an engaged and decentralized ecosystem centered around improving decentralized trading on the Solana blockchain.
JUP tokens serve the following purposes:
- Governance: In the initial stages, JUP tokens will be used to govern the incoming Jupiter DAO (Decentralized Autonomous Organization). Token holders will have a say in the decision-making process and can coordinate the growth and development of the Jupiter ecosystem.
- Community Incentives: A significant portion of the total JUP token supply (4 billion tokens or 50% of the 10 billion total supply) will be distributed to the community through periodic airdrops. This is intended to reward existing users for their participation and support and to incentivize further engagement within the Jupiter platform.
- Team and Strategic Reserves: 20% of the total supply is allocated to the current Jupiter team, with a two-year vesting period to ensure long-term commitment. Another 20% is held in a strategic reserve for future team members, strategic investors, and past stakeholders.
- Liquidity Provision: 10% of the total supply is designated for liquidity provision and will be held in a Team Hot Multisig wallet.
- Community Contributions: 1 billion JUP tokens will be available for community contributors through grants, managed by the Jupiter DAO.
It's important to note that the JUP token is not designed to be utility-focused, as stated by the Jupiter founder, "meow." The token's value is not necessarily tied to its utility, but rather its perceived value within the Jupiter ecosystem and the broader cryptocurrency market.
$JUP Tokenomics
$JUP Token Statistics
Token Symbol: JUP
Total Token Supply: 10,000,000,000
Market Capitalization: $1.4 Billion
Trading Price: $1.04
Cryptocurrency Rank: #62
*Data source: The table above is real-time data from CoinMarketCap as of April 19, 2024
How to Buy and Trade JUP Tokens?
CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. Users can now trade easily and seamlessly with over 900 tokens supported, including $JUP. It was listed on CoinEx on February 1, 2024, at an initial price of $0.6534 USD, marking an impressive overall change of +60.23%.
To purchase JUP tokens on CoinEx, follow the steps below.
- Create an Account: Start by signing up for a CoinEx account.
- Deposit Funds: After logging in, deposit funds into your CoinEx account using any supported cryptocurrencies or deposit methods available on the exchange. Having funds in your account enables you to execute trades seamlessly.
- Navigate to the JUP Trading Page: Once your account is funded, go to the spot trading page on CoinEx. You can find a search box and enter the term JUP to locate the trading pair associated with JUP tokens.
- Choose a Trading Pair: Select the trading pair JUP/USDT if you'd like to trade $JUP against USDT (Tether).
- Specify the Purchase Amount: Determine the amount of JUP tokens you want to purchase. Input the amount in the trading interface, which will calculate the corresponding cost based on the current market price.
- Execute the Trade: With the specified amount, proceed to execute the trade. Confirm the details, and if you are satisfied, submit the order.
By following these comprehensive steps, you can easily trade JUP tokens on CoinEx, taking advantage of the available trading pairs.
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