Jupiter Spot allows direct access to Pump.fun and Moonshot tokens. The spot market feature brings direct buying for new tokens.

Jupiter DEX extended its services by offering spot buying for new and risky meme tokens on Solana. The Jupiter spot market has a new product to integrate Pump.fun and Moonshot, two of the most active meme token casinos. Traders can now buy directly into early liquidity tokens.

The new tool arrived just days after Pump.fun achieved an all-time transaction peak in August. The token launch platform makes up to 30% of all Solana transactions each day, depending on specific activity spikes. The effect of Pump.fun was felt since April, and may continue to affect Solana DEX traffic as access to trading tools improves.

Moonshot trading is slower compared to Pump.fun, though offering more intuitive data on liquidity pairs.

As of the last quarter, some of the most active destinations for Jupiter DEX trades are Raydium, Jupiter Perpetual Futures, as well as OpenBook V2. Jupiter itself is agnostic to the DEX and is constantly rotating through Solana projects, depending on their ability to raise liquidity.

Jupiter DEX aggregator aims for optimized routing and fees

Jupiter uses Dexscreener’s technology, which already tracks liquidity, trending tokens, and other metrics. Jupiter Spot then takes care of the swap and routing, with the applicable SOL fees for gas and block inclusion.

1/ Jupiter Spot has integrated both @pumpdotfun and @moonshotdotcc by @dexscreener, allowing you to trade any new token instantly!

Search for any CA and it’s go time — pic.twitter.com/GQaJbfztn0

— Jupiter (@JupiterExchange) August 28, 2024

Jupiter has also increased its capabilities for routing new tokens while allowing the best possible slippage and fee conditions. Meme token trading remains risky and may require higher fees for faster sniping. However, new cheap tokens are also seen as a low-stakes bet for retail traders, allocating a few dollars to each launch.

The goal of Jupiter DEX is to move more markets on-chain, while simulating order books. DEX trading remains highly competitive, but Jupiter has abstracted several tools to interact with meme tokens or other markets.

The main product is still the Jupiter Aggregator, which does not itself lock value. Jupiter DEX aggregator handles $338.11M in daily volumes and is one of the keys to routing Raydium trades.

Jupiter’s engagement with token launches does not end with aggregation. The team recently created Jupiter Lock, a tool to ensure a project has locked its liquidity and will not rug-pull the token. Jupiter’s goal is to turn into a super-app platform, abstracting several tasks around DeFi trading.

Jupiter adds a cost-averaging product

One of the available products for Jupiter includes a cost-averaging tool to swap SOL for JUP. The value average buys tokens at the best available price, automating the process.

Jupiter DEX introduced the tool in beta five months ago and has officially launched the product in the past two months. JUP tokens can then earn income through simple staking or participate in active staking, adding community votes. JUP holders receive additional tokens and increase their voting influence over time.

The Jupiter DEX aggregator project aims to split its earnings evenly, not giving the team oversized influence and gains. Jupiter received two rounds of funding from White Hilt Capital, allowing it to launch during the 2022 bear market.

As of August 2024, the project’s team carries 35% of all JUP tokens in a cold wallet. Jupiter launched during the crypto winter of 2022 and has adapted to the renewed demand for DeFi and Solana activity.

The end goal of JUP is to share its fees 50:50 with the community. Some of the locked JUP tokens may be used for voting, as well as for liquidity purposes, as Jupiter aims to launch new markets. As of August 2024, only 14% of all JUP is unlocked. Jupiter tries to avoid the fate of VC-backed tokens by being more open about its fees and team holdings.

The Jupiter project also benefits from its co-founder and tech leader, known for his social media persona @weremeow. For now, the results of Jupiter aggregator are yet to translate into token price growth. JUP trades at $0.79, locked in a range, after achieving a yearly peak above $1.80. JUP was still among the most successful airdrops with net gains as the project developed. In the short term, predictions see JUP sliding to $0.68 support, with predictions of a breakout as high as $3.

Cryptopolitan reporting by Hristina Vasileva