Jupiter

JUP is the governance token of Jupiter, Solana's largest token-swap aggregator.

Jupiter started as a swap aggregator on Solana: it searches many exchanges and routes each trade to the best price. It has grown into a wide trading app. Besides swaps, it offers perpetual futures with up to 250x leverage, a lending protocol (Jupiter Lend), prediction markets on real-world events, a stablecoin (JupUSD), a wallet and a spending card. JUP is its governance token. It launched on 31 January 2024 with an airdrop to about 955,000 Solana wallets.

JUP gives holders a vote in the Jupiter DAO and no direct share of revenue. Staked JUP earns Active Staking Rewards: 50 million JUP a quarter from the community allocation. Value reaches holders indirectly through the Litterbox Trust, which receives 50% of Jupiter's onchain revenue and uses it to buy JUP on the open market. Jupiter says about 134 million bought-back JUP have been burned. The other half, plus offchain revenue, funds Jupiter's own entities.

Most revenue comes from two products. According to DefiLlama, over the year to late September 2026 about 52% of Jupiter's roughly $86 million revenue came from perpetual futures and about 40% from swap fees; over the latest 30 days swaps led with about 63% and perpetuals made up about 29%. Interest from Jupiter Lend was about 2–3%.

The original mint was 10 billion JUP. In 2024 the community agreed to cut supply to 7 billion, and about 6.86 billion existed in September 2026, of which about 3.32 billion circulated. In February 2026 the DAO voted to pause new emissions for the rest of 2026: the yearly airdrop was postponed and team vesting releases were paused.