Solana DEX Jupiter Launches Lending Protocol 🚀

Jupiter, a leading decentralized exchange aggregator on Solana, revealed its first lending protocol during the Solana Accelerate conference. This innovation is in partnership with Fluid, an established DeFi leader. Jupiter manages 95% of Solana’s DEX volume, and this new venture marks a significant expansion into lending. In January, Jupiter distributed 700 million JUP tokens, worth approximately $580 million, rewarding trading activity. JUP, the native token, saw a 12% jump to $0.58 following the announcement. The protocol aims to reshape DeFi lending with a 90% loan-to-value ratio and low fees of 0.1%, providing users maximum credit for minimal collateral. Jupiter Lend, yet to launch, invites users and developers to join its composable platform, starting with 'one-click' deposits and competitive borrowing options. Echoing Aave's slogan, Dhanda encouraged the adoption of Jupiter’s expanding ecosystem. The article notes The Block's independence, supported by Foresight Ventures, ensuring unbiased crypto news.