The Defi (Decentralized Finance) is rapidly expanding in the world of Crypto and a new and emerging name in this direction is Jupiter (JUP). It is a platform based on Solana Blockchain and is giving a new direction to Defi Global through its advanced swap aggregation engine. In this blog, we will understand in simple language what the Jupiter is, its technology, features, real world usage and the main achievements so far.
What is Jupiter?
Jupiter (JUP) is a decentralized exchange aggregator, which Solana Blockchain Works on Its main objective is to collect liquidity from individual sources and allow users to swap tokens at the best and cheap rates.
The biggest feature of Jupiter is that it also gives advance defi carriers like Restrict Line, DCA (Greenback-Value Averapping), Twap (Life Weighted Reasonable Wort), Bridge Comparrator and PerpeTuals Buying and Selling.
How does Jupiter work?
Jupiter’s base is the base of its switch aggregation engine. This engine collects data and liquidity from various Defi platforms and helps users to transact at the best rates.
Jupiter’s engine works like this:
-
When you go to swap a token, it compares rates with various protocols and dexs (eg orca, raydium etc.).
Major features of Jupiter
1. Restrick Orders
You can plan transactions by setting a certain price. As soon as the market reaches that price, your order automatically fulfills.
2. DCA and Twap
These tools allow users to distribute their purchase or sales into several parts to avoid market volatility. This is especially beneficial for new investors.
3. Bridge Comparator
If you want to transfer assets from one blockchain to another, then the Jupiter shows you the fastest and cheapest bridge.
4. perpetuals buying and selling
This is a futures trading feature, in which you can bet on them without purchasing tokens. With this you can earn profits on both market trends more or less.
Jupiter’s technology: Why is this special?
The Jupiter is built on the Solana Blockchain, which is known for its fast speed and extremely low transaction fees. Solana’s Evidence of Historical Past (Poh) and Evidence of Stake (POS) Technology makes Jupiter fast, keeps secure and scalable.
Jupiter’s smart contract based system ensures that all the transactions are according to the program, nor less. This reduces the chances of human error or fraud.
Jupiter’s real-world uses
The use of Jupiter is not limited to just crypto trading. It has many uses:
1. Make Crypto Trading Easy
Through Jupiter, any user, whether new or experienced, can easily swap, plan his order and trading without worrying about liquidity.
2. Participation in Governance
Jup token holders can participate in voting and decide in which direction the future of Jupiter will move.
3. Spending Crypto in real life through debit card
Jupiter has planned to launch a sol based debit card in collaboration with Santum, so that you can spend your digital assets in real life.
4. Cross-chain transfer
If you have EthereumIf there are assets on polygon or any other blockchain, then you can bring them to solana through Jupiter and trades it here.
Major achievements of Jupiter
There have been many special stage in the journey of Jupiter’s development.
• Launched on Solana
Jupiter began at Solana Blockchain, leading to the strength of fast and inexpensive transactions.
• Launch of City API
This is the development tool of Jupiter, so that developers can add Jupiter services to their application.
• ASR Proposal Vote Casting
Jupiter’s community member voted on an important proposal in which the decision to burn Jup Token or other objectives was taken.
• Airdrops and Inventurals
Jupiter has distributed its tokens many times through AIRDROP, which has increased both user engagement and popularity.
Conclusion
If you have interest in crypto and want your trading to be easy, faster and inexpensive then Jupiter can be a great option for you. Its features are beneficial not only for professional traders but also new users. Jupiter is not only a Switch Aggregator, but it is a strong step towards simplifying the world of Defi.
Also read:With the help of binance, Brazil police ends gangs of thieves
