Jupiter is a decentralized trading platform on Solana, best known as the network's largest DEX aggregator. When you swap tokens on jup.ag, or in one of the many wallets and apps that use its routing, Jupiter compares prices across Solana's exchanges and liquidity pools and picks the route that returns the most tokens. JUP is the project's governance token.
How does Jupiter work?
Jupiter checks more than 100 liquidity sources on Solana, including Meteora and Raydium, works out the best route for a trade and can split it across several venues. The whole route settles in one Solana transaction. Its default Ultra mode sets slippage and fees automatically and protects trades from front-running bots, for a fee of 0% to 0.5% depending on the token pair.
JUP is staked to vote on Jupiter DAO proposals, such as changes to the token supply or airdrops, and stakers share 50 million JUP of Active Staking Rewards each quarter. JUP does not pay holders a share of fees and does not give trading-fee discounts. Instead, half of Jupiter's onchain revenue is used to buy JUP on the open market through the Litterbox Trust.
What is the maximum supply of JUP?
JUP's maximum supply is 7 billion tokens. It launched with 10 billion, but the DAO voted in August 2024 to burn 3 billion, and the burn began in January 2025. About 130 million more were burned from the Litterbox Trust in November 2025, leaving a total supply of about 6.86 billion. The live circulating supply is shown in the market data on this page.
Is there a Jupiter airdrop (Jupuary) in 2026?
Not so far. The 700 million JUP planned for Jupuary 2026 were held back after a DAO vote in February 2026 backed the "Net-Zero Emissions" plan with about 75% of votes. The tokens went back to a community multisig wallet, and only a future DAO vote can release them. As of October 2026 no new date has been set. Be wary of any site offering to "claim" a Jupiter airdrop.
How do JUP buybacks work?
Since February 2025, 50% of Jupiter's onchain revenue has gone to the Litterbox Trust, a non-profit entity that buys JUP on the open market. In November 2025, after a DAO vote, the roughly 130 million JUP it had bought were burned. Buybacks continue at 50%; a community proposal to raise the share to 70% has not been put to a vote.
How do you stake JUP?
You stake JUP at vote.jup.ag from a Solana wallet. Staked JUP gives you voting power in the Jupiter DAO and a share of the quarterly Active Staking Rewards, which are claimed at jup.ag/rewards and added to your stake. Unstaking takes a 7-day cooldown, and you need a little SOL in the wallet to pay network fees.
Is Jupiter a decentralized exchange?
Jupiter is mainly an aggregator: its swap engine routes each trade across other Solana exchanges and liquidity pools rather than relying on one venue. It also runs markets of its own, such as Jupiter Perps for leveraged trading and Jupiter Lend for lending and borrowing. It is non-custodial, so your tokens stay in your own wallet until a transaction settles.
Where can I store JUP?
JUP is an SPL token on Solana. The self-custody Bitcoin.com Wallet supports the Solana network and SPL tokens. Before you send or receive JUP anywhere, check the token's mint address, JUPyiwrYJFskUPiHa7hkeR8VUtAeFoSYbKedZNsDvCN, because copycat tokens use the same name, and keep a little SOL in the wallet for network fees.
Is Jupiter safe to use?
Jupiter is non-custodial, its programs have been audited by several independent firms, and it has run since 2021. Using it still carries risk: smart contracts can have bugs, leveraged perps and borrowing can be liquidated, and scammers run fake Jupiter sites and copycat JUP tokens. Only connect your wallet to the real jup.ag, check every transaction before you sign it, and never share your recovery phrase.
What is Jupiter (JUP)?
Jupiter is the crypto project behind jup.ag, the main place people swap tokens on Solana. It is a DEX aggregator: rather than running a single exchange, it compares prices across the decentralized exchanges and liquidity pools on Solana and sends each trade along the route that returns the most tokens. By trading volume it is the largest aggregator on Solana, and many wallets and apps use its routing behind their own swap buttons.
Founded in 2021 by a pseudonymous developer known as Meow and by Siong Ong, Jupiter has grown into a family of trading products: limit and DCA orders, perpetual futures, a lending market, a token launch tool, prediction markets and its own stablecoin. JUP is its governance token. Holders stake it to vote in the Jupiter DAO and to earn quarterly staking rewards, and half of Jupiter's onchain revenue is used to buy JUP on the open market.
Jupiter at a glance
Item
Detail
Type
DEX aggregator and trading platform on Solana
Token
JUP, an SPL token on Solana
Mint address
JUPyiwrYJFskUPiHa7hkeR8VUtAeFoSYbKedZNsDvCN
Founded
2021, by Meow (a pseudonym) and Siong Ong
Token launch
31 January 2024, with the first Jupuary airdrop
Maximum supply
7 billion JUP (cut from 10 billion in January 2025)
Total supply
About 6.86 billion JUP after the Litterbox burn of November 2025
Circulating supply
About 3.3 billion JUP (October 2026)
What JUP does
Governance voting and quarterly staking rewards; no direct share of fees
Buybacks
50% of onchain revenue buys JUP through the Litterbox Trust
Main products
Swaps, limit and DCA orders, Perps, Lend, Studio, Predict, JupUSD
How Jupiter's swap aggregator works
The same token can trade at a slightly different price on each of Solana's many venues. When you ask Jupiter for a quote, it scans Meteora, Raydium, HumidiFi and more than 100 other liquidity sources, then splits the order across several venues or routes it through an intermediate token if that returns more. The whole route settles in one Solana transaction, so the swap either completes in full or not at all.
Ultra mode: the default way to swap on jup.ag. It sets slippage and network fees automatically, protects against bots that try to front-run or "sandwich" a trade, and can make a swap gasless when the wallet holds almost no SOL. Jupiter's fee on Ultra swaps runs from 0% to 0.5% depending on the token pair and is included in the quote.
Manual mode: experienced traders set slippage, fees and routing themselves, with no Jupiter commission.
Inside other apps: wallets and apps plug into Jupiter's Swap API, which merged its two older APIs, Ultra and Metis, in March 2026, or embed Jupiter Plugin, a ready-made swap box formerly called Jupiter Terminal.
Jupiter's other products
Limit and DCA orders: a limit order buys or sells a token when it reaches a price you set. A DCA order splits a purchase into smaller buys at regular intervals, known as dollar-cost averaging.
Jupiter Lend: a lending and borrowing market built on the liquidity engine of Fluid, a DeFi lending protocol, which opened to the public in beta in August 2025. You can supply tokens to earn interest or borrow against collateral; see how crypto lending works.
Jupiter Studio: a launch tool, live since July 2025, that lets anyone create a Solana token on a bonding curve without putting up liquidity first; once a token raises enough, trading moves to a Meteora pool. Many Studio launches are memecoins. Studio has taken the place of the LFG Launchpad, which Jupiter ran from early 2024 with DAO votes picking the projects that launched.
Jupiter Predict:prediction markets where you buy YES or NO contracts on real-world events, launched in beta in October 2025 with liquidity from Kalshi.
JupUSD and JupSOL: JupUSD is a dollar stablecoin built with Ethena, launched in January 2026 and backed mainly by USDtb. JupSOL is a liquid staking token for SOL staked with Jupiter's validator. Neither carries governance rights.
Jupiter Perps in brief
Jupiter Perps is Jupiter's perpetual futures exchange. Traders go long or short on SOL, ETH and wBTC with up to 250x leverage, borrowing from a shared liquidity pool called JLP instead of being matched with another trader. Prices come from oracles, and JLP holders take the other side of every trade: they receive 75% of the fees, but the pool pays out when traders win. On 22 September 2026 Jupiter added Beta markets on a separate order book, settled in USDC, with up to 20x leverage on JUP itself, HYPE, ZEC and three tokenized stocks. With high leverage, a small price move can close a position through liquidation.
What is the JUP token used for?
JUP gives holders a say in how Jupiter's community treasury and token supply are run. It does not pay a share of Jupiter's fees or give trading-fee discounts; its only link to Jupiter's revenue is indirect, through the Litterbox buybacks below.
Governance: to vote, you stake JUP at vote.jup.ag. Voting power equals the amount staked, and each vote is an onchain transaction that needs a little SOL for the fee. Unstaking takes a 7-day cooldown.
Staking rewards (ASR): Active Staking Rewards pay out 50 million JUP every quarter, shared among stakers by how much they staked and for how long. Voting is not required. Rewards are claimed at jup.ag/rewards in a limited window after each quarter and added to your stake.
JUP supply and tokenomics
JUP launched on 31 January 2024 with a maximum supply of 10 billion tokens, split evenly between the community (airdrops, incentives and reserves) and the team side (team, strategic reserve, liquidity and stakeholders of Mercurial, the founders' earlier project, now called Meteora). In a DAO vote held from 1 to 4 August 2024, about 95% of votes backed a 30% cut. The burn began at Jupiter's Catstanbul conference on 26 January 2025, with 1.5 billion JUP taken from each side, and set the maximum supply at 7 billion.
About 130 million more JUP, bought back by the Litterbox Trust, were burned on 26 November 2025, leaving a total supply of about 6.86 billion. Roughly 3.3 billion JUP were in circulation in October 2026; the live circulating supply is shown in the market data on this page. Most of the rest sits in community and team reserves, which is why JUP's fully diluted value is far higher than its market cap.
Team members vest over four years, a one-year cliff followed by three years of linear vesting, visible onchain in Jupiter Lock. Since February 2026 those team unlocks have been suspended (see the Net-Zero vote below).
Buybacks: the Litterbox Trust
Since February 2025, 50% of Jupiter's onchain revenue has gone to the Litterbox Trust, a non-profit entity that buys JUP on the open market through automated onchain purchases. The other half, plus offchain revenue, funds the team's operations, with any surplus held in reserve.
The buybacks have been debated. In a DAO vote that closed in early November 2025, holders chose to burn the roughly 130 million JUP the trust had accumulated, and the burn was completed on 26 November. In January 2026 co-founder Siong Ong asked whether the buybacks, which had cost more than $70 million in 2025, should stop. They continued, and a May 2026 community proposal to raise the share to 70% has not gone to a vote.
Jupuary airdrops and the Net-Zero Emissions vote
Jupuary is Jupiter's January airdrop of JUP to its users. The first, on 31 January 2024, gave 1 billion JUP to nearly a million wallets. The second, on 22 January 2025, sent about 700 million JUP to around 2 million wallets, mainly by swap volume. A third, also of 700 million JUP, had been approved for early 2026.
It did not go ahead. In February 2026 the team proposed a "Net-Zero Emissions" package, and in a vote that closed on 22 February about 75% of votes backed it over proceeding with Jupuary. The package:
Postponed Jupuary indefinitely: the 700 million JUP went back to the Community Cold Multisig, and only a future DAO vote can release them. Usage and staking snapshots were kept.
Suspended team vesting: team members now receive a credit on Jupiter's balance sheet instead of new tokens, and Jupiter buys from them if they want to sell.
Offset the Mercurial unlocks: Jupiter sped up vesting of the 5% of supply set aside for Mercurial stakeholders and committed to buying an equal amount of JUP when those wallets sell.
Jupiter said this cut net new JUP emissions for 2026 from about 1.2 billion to effectively zero. The quarterly staking rewards continue, funded from previously unclaimed Jupuary tokens. As of early October 2026, no new Jupuary date has been set.
How the Jupiter DAO works
The Jupiter DAO, seeded with 100 million JUP and 10 million USDC, has governed the community treasury since 2024. Proposals are discussed on Jupiter's forum, then voted on by staked JUP.
Governance has been turbulent. On 20 June 2025 Jupiter paused all DAO votes after criticism that team wallets were casting a large share of the vote; COO Kash Dhanda said the DAO was "stuck in a negative feedback loop". The working groups the DAO funded have since been disbanded and its grants programme stopped. Votes returned sooner than the 2026 restart first announced, under a "Fresh Start" plan: the Litterbox burn vote in late October 2025, then the Net-Zero Emissions vote in February 2026, still the most recent vote in early October 2026.
Risks to know
JUP's price can move sharply in either direction, and its supply depends on DAO votes that have changed course several times; the 700 million JUP held back from Jupuary can be released by a future vote. Jupiter's products run on smart contracts, which can contain bugs, and Perps and Lend add liquidation risk for anyone trading with leverage or borrowing. Copycat tokens with similar names exist, so check the mint address before buying or receiving JUP, and be wary of fake Jupiter sites and airdrop "claim" links that ask you to connect a wallet. Jupiter depends on Solana, so if the network slows or stops, so does Jupiter. Rules for DeFi and governance tokens are still changing in many countries. This page explains how Jupiter works and is not financial advice.
JUP, Solana and the Bitcoin.com Wallet
JUP is an SPL token on Solana, and the self-custody Bitcoin.com Wallet supports the Solana network and its SPL tokens. Every transfer, swap or staking transaction on Solana pays a small network fee in SOL, so a wallet that holds Solana tokens also needs a little SOL. You can buy SOL with the payment methods available in your region. With a self-custody wallet you keep your own keys, so always store your recovery phrase safely.
