Jupiter Perpetual Exchange Distributes $137M to $JLP Since January 1st
Having facilitated over $100B of trading volume since launch, Jupiter has handsomely rewarded liquidity providers throughout 2024.
Originally launching as a DEX aggregator, Jupiter has continuously expanded its product suite over the last year. Now considered one of Solana’s largest DeFi ecosystems, Jupiter continues to generously reward its users and supporters.
Since its Q4 2023 launch, Jupiter’s perpetual exchange has evolved to become one of its biggest protocols. Boasting over $760M in TVL (Total Value Locked), Jupiter is now the second-largest perpetual DEX in the crypto industry.
Buoyed by the platform’s success, Jupiter’s liquidity providers are some of its biggest benefactors.
Jupiter Perps Collects $4.59M in Average Weekly Fees YTD
Liquidity providers are the lifeblood of Jupiter’s perpetual DEX. By depositing funds into the platform in exchange for $JLP, contributors earn yield generated by trading fees accrued by the protocol.
Based on Dune Analytics data, the Jupiter perpetual exchange has accumulated over $183M in fees since January 1st, 2024. With 75% of collected fees going towards bolstering $JLP value, $JLP has generated over $137.6M in yield, which holders can easily liquidate into alternative assets.
On average, the Jupiter perpetual exchange generates $4.59M in weekly fees. In weeks with high levels of trading activity, fee accumulation has generated as much as $9.42M, recorded in the week starting July 29th.
$100B in Trading Volume Across 3 Assets
Beyond high fee generation and the generous rewards they entail, the Jupiter perpetual exchange also witnesses some of the highest trading volumes in the crypto industry.
According to DefiLlama data, Jupiter perps recently recorded $100B in cumulative trading volume. In contrast, Drift Protocol, its closest Solana-based rival, has generated $32B in trading volume.
Jupiter’s perpetual trading dominance is made even more remarkable given that the platform only supports three tradeable assets; $SOL, $BTC, and $ETH. Alternative platforms offer a wider range of assets, including essential Solana ecosystem tokens like $PYTH, $WIF, and $JTO.
However, traders hoping to see a more diverse range of supported assets on Jupiter might not have long to wait.
Soju, a prominent Jupiter team member, recently took to 𝕏 asking which trading pairs the Jupiter community wanted to see on the perpetual trading platform.
Jupiter Flips 1Inch in Aggregator Volume
Alongside Jupiter’s success in perpetual markets, the DeFi titan’s flagship product has established itself as a leader in its field.
Based on DefiLlama data, Jupiter’s DEX aggregator dominates market share amongst rival aggregators.
Commanding 55% of 24-hour trading volume among aggregators across all blockchains, Jupiter has handled more than double the weekly trading volume of second-placed 1Inch, an application integrated with 9 other networks.
Jupiter is showing no signs of slowing down, continuing its relentless expansion. On October 8th, the team officially launched the Jupiter mobile app for iOS devices. The mobile wallet aims to simplify the onboarding process, helping new users become familiar with Solana DeFi.
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