Overview
Jupiter is the most-used trading aggregator on Solana: when you swap tokens, it searches all of Solana’s exchanges to find the best price. Many wallets and apps use it behind the scenes. It was founded by a team led by the pseudonymous Meow and Siong.
Its JUP token launched in January 2024 with a large airdrop, the first of the yearly “Jupuary” airdrops to users.
How it works
Beyond swaps, Jupiter has grown into a full trading platform:
- Jupiter Perps: leveraged futures trading backed by a liquidity pool (JLP);
- Jupiter Lend: lending and borrowing;
- tools for limit orders, recurring buys and token launches;
- a mobile app and wallet integrations.
Jupiter holds about $1.7 billion in deposits, according to DeFiLlama.
Buybacks and supply
- 50% of on-chain revenue goes to buying back JUP; Jupiter spent over $70 million on buybacks in 2025.
- The team burned 3 billion JUP and cut its planned airdrops.
- In early 2026, the DAO voted on a plan to postpone Jupuary, pause team vesting and move emissions toward net zero.
Even so, analysts note that buybacks have offset only part of the new tokens unlocked in the past.
The JUP token
| JUP at a glance | |
|---|---|
| Total supply | about 6.9 billion JUP (after burns) |
| In circulation (Oct 2026) | about 3.3 billion |
| Price (29 Oct 2026) | about $0.28 |
| All-time high | about $2.00 (January 2024) |
| Market cap | about $930 million (#77) |
Risks
- Supply. About half of JUP is still locked and could be released over time.
- Solana dependence. Jupiter’s revenue rises and falls with Solana trading, especially meme coins.
- Competition. Trading apps and wallets increasingly route trades themselves.
- Perps risk. Users of leveraged products can lose money quickly.
Jupiter vs. the competition
| Jupiter | Raydium | Meteora | |
|---|---|---|---|
| Type | Aggregator + perps + lending | DEX + launchpad | DEX |
| Chain | Solana | Solana | Solana |
| Token value | 50% revenue buybacks | Buybacks with fees | Governance |
Our verdict
Jupiter is one of Solana’s most important apps, with real revenue and strong steps in 2026 to cut new supply. But much JUP remains locked, and the price is about 86% below its launch. JUP is a high-risk bet on Solana trading. Invest only what you can afford to lose.
This review is for information only and is not financial advice.