Jupiter

Jupiter was co-founded by the pseudonymous 'Meow' and CTO Siong Ong. The team ships a wide product range: a swap aggregator, perpetual futures, Jupiter Lend (built on Fluid's liquidity layer), the JupUSD stablecoin built with Ethena, prediction markets, a wallet and payments. Half of on-chain revenue plus off-chain revenue funds the team's operating budget, with surplus held by Jupiter's Foundation and Labs entities; Jupiter commits to disclose related-party transactions within 30 days. In January 2026 the CTO publicly questioned the value of the token repurchase programme, a sign that priorities can change quickly.

• JUP Transparency (Jupiter docs)
• Jupiter
• Jupiter CTO explains why JUP token repurchases may end (AMBCrypto)
• Jupiter Lend (Jupiter docs)

JUP launched on 31 January 2024 with an airdrop to about 955,000 Solana wallets. Data on institutional holders, funds or exchange-traded products is insufficient. 5% of the original supply went to stakeholders and investors of Mercurial, the team's earlier project, whose vesting was accelerated in February 2026. JUP is a governance token only: Jupiter says there is no equity entity, but no document gives holders a direct claim on revenue. A large share of unissued supply sits in team and community wallets.

• Jupiter's Airdropped Token JUP Debuts at a $878 Million Market Cap (Unchained)
• Jupiter Weighs Plan to Drive $JUP Token Emissions to Net Zero for the Rest of 2026 (SolanaFloor)
• JUP Tokenomics (Jupiter docs)

10 billion JUP were minted at launch. An August 2024 DAO vote cut the target supply to 7 billion, and 3 billion JUP have been burned. On 27 September 2026 total supply was about 6.86 billion and circulating supply about 3.32 billion, so roughly half is not yet in circulation. Since February 2025 the Litterbox Trust has used 50% of on-chain revenue to acquire JUP on the market; about 130 million JUP held there was put to a burn vote in October 2025, and Jupiter's docs say about 134 million JUP have been burned to date. In February 2026 the DAO passed a 'net-zero emissions' plan: the Jupuary airdrop was postponed and team vesting releases were paused. Stakers receive 50 million JUP each quarter from the community allocation.

• CoinGecko API: Jupiter
• Proposal: Enhance certainty for JUP holders and community via a token supply reduction (Jupiter Research forum)
• Proposal: Net-Zero Emissions (Jupiter Research forum)
• New DAO vote: Proposal to Burn the Litterbox (Jupiter Research forum)
• Active Staking Rewards (Jupiter docs)

DefiLlama reports Jupiter aggregator volume of about $15.1 billion over 30 days and about $293 billion over one year to late September 2026. Jupiter revenue was about $6.92 million over 30 days and about $86.0 million over one year. Over one year, perpetual futures gave about 52% of revenue and the swap aggregator about 40%; over the latest 30 days the aggregator led with about 63%. Combined TVL on Solana was about $2.04 billion, with about $1.05 billion borrowed through its lending products.

• DefiLlama API: Jupiter Aggregator volume
• DefiLlama API: Jupiter revenue summary
• DefiLlama API: Jupiter Perpetual Exchange revenue
• DefiLlama API: Jupiter Aggregator revenue
• DefiLlama API: Jupiter