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Recognized as one of the key features in Jupiter (JUP) - the largest DEX aggregator in Solana, Jupiter Swap has a crucial role to play in enhancing liquidity and efficiency within Solana's DeFi ecosystem. This article will give you insights into the basics of this high-profile swap aggregator. But before understanding Jupiter Swap, let’s have a brief overview of Jupiter.

What is Jupiter Exchange?

Jupiter Exchange is a DEX aggregator that gathers pricing information from several Solana DEXs and determines which is the best deal for customers. Jupiter is labeled as the biggest DEX aggregator in the Solana ecosystem, and also, the most efficient.

Uniswap vs Jupiter trading volume

Uniswap vs. Jupiter trading volume. (Source: Delphi Digital)

As of writing, Jupiter has processed $219.7 billion in transaction volume and more than 413 million swaps in total.

Jupiter volume summary

Jupiter volume summary. Source: Dune

Key Features of Jupiter

Swap: Easily swap supported SPL tokens with low slippage and fees.
Limit Orders: Place buy or sell orders at specific prices to avoid slippage.
DCA (Dollar-Cost Averaging): Purchase tokens at fixed amounts within a specified price range over a set period, offering flexibility in time intervals (minutes, hours, days, weeks, or months)
Bridge: Transfer tokens from different blockchains (including EVM and non-EVM) to Solana with low slippage and transaction fees.
Perpetual: Trade futures contracts with up to x100 leverage.

What is Jupiter Swap?

Jupiter Swap is a decentralized exchange (DEX) aggregator built on the Solana ecosystem. It serves the ultimate purpose of helping users seamlessly swap tokens with minimal slippage and affordable transaction fees, thus optimizing the best available swaps between any supported token pair. It routes trades through multiple liquidity sources across the Solana ecosystem to ensure optimal prices, low slippage, and efficient transaction execution.

Also, the platform has been evolving over time. June 25 has just witnessed the launch of Jupiter’s new version - Jupiter Swap V3. Equipped with a host of advanced features and powered by its Metropolis liquidity backend, Swap V3 aims at more efficient and user-friendly trading experience, further fostering Solana's position in the decentralized finance (DeFi) space. These functionalities include instant routing, dynamic slippage, intelligent token filtering, or ecosystem master lists.

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Jupiter Swap Interface explained

Jupiter Swap interface

Jupiter Swap interface. Source: Jupiter

The image above is the Jupiter Swap interface when you are about to swap or buy tokens. As aforementioned, it collects price data from various DEXs then chooses the most optimal route for traders and presents informatively via these main features:

Exchange Rate for the Selected Tokens: This shows the current exchange rate based on the on-chain prices for the selected input and output tokens, along with a comparison against Coingecko Price API.
Price Impact: This is influenced by the available liquidity to settle the trade. The larger the trade the larger the price impact on the selected assets.
Minimum Received: It considers the slippage setting and market liquidity to work out the minimum amount that the user will receive even with maximum price fluctuations during a successful swap.
Max Transaction Fee: The maximum fee you will pay to execute the quoted transaction. This also takes into account selected fee settings.
Deposit: If you are transacting assets you have not owned before, Solana may require a small deposit amount to create the ATA account in your wallet to hold that asset. This will only occur with assets you have not owned previously.

What makes Jupiter Swap special?

There are a plethora of characteristics that set Jupiter Swap apart from other platforms:

Automatic token listing: Automatically and swiftly integrates new tokens for smooth trading.
Aggregated liquidity: Access to a vast pool of liquidity, enhancing trading efficiency by tapping into multiple liquidity sources across Solana's DeFi ecosystem.
Optimized swap process: Complete transactions in a single step with advanced algorithms to reduce slippage and maximize returns for users.
Cross-chain compatibility: Work with many reputable crypto wallets such as OKX Wallet, Wallet Connect, thereby offering a wide range of choices and easy linkage to users’ cryptocurrency wallets
User-friendly interface: Intuitively designed for traders to easily explore and use Jupiter's features.
Low fees and fast transactions: Offer lightning-fast transactions at minimal costs, thereby enabling swift and cost-effective swaps.

JUP Token

On January 31, 2024, the JUP token was successfully launched. With 1 billion JUP tokens distributed to customers via airdrop, the market has seen a circulation of about 1.35 billion JUP. The Jupiter team has made an official announcement that there will be four phases to the JUP airdrop, with a total of 4 billion JUP in rewards.

JUP price

JUP price. Source: Coin Market Cap

Since its launch, there has been dramatic volatility in the price of JUP. Despite being one of the fastest-growing Defi projects, it was not until April 2024 that the coin showed signs of increasing. Heralded as one of the best-performing altcoins crypto projects in the market, JUP is anticipated to go bullish in the long term due to the popularity of Jupiter Swap.

As a swap aggregator, Jupiter Swap accelerates liquidity and efficiency within Solana's DeFi ecosystem. By aggregating liquidity from various decentralized exchanges, Jupiter Swap fosters deeper liquidity pools, tighter spreads, and improved price discovery, contributing to the overall growth and adoption of decentralized finance on Solana.

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Jupiter Swap: Unveiling the Premier Aggregator on Solana

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