Jupiter Lend: New Lending Platform on Solana

The developers of the aggregator DEX on Solana, Jupiter, have unveiled the Jupiter Lend platform. The news is reported by The Block.

The initiative was created in collaboration with Fluid partners in the Ethereum ecosystem. The team has started to form a waiting list.

The Jupiter Lend lending protocol will allow 'one-click' deposits to be opened, while the 'storage' protocol will allow assets to be borrowed 'on good terms'.

It is expected that the LTV (Loan-To-Value) will reach up to 90%, compared to the 75% common on other blockchains. This high value will be possible thanks to a special settlement mechanism and dynamic limits for risk isolation.

The Jupiter Lend fee will be only 0.1%. The developers plan to expand the functionality and introduce new features to the platform, including through collaboration with external teams.

The move into lending represents an important step in a new but related vertical.

"You can move from swaps and perpetual contracts to lending and borrowing. Liquidity begets liquidity," the project explained.

In January, Jupiter distributed 700 million native JUP tokens, worth about $580 million, to users, stakers and contributors, based on trading activity that followed the airdrop of 1 billion JUPs in 2023.

The asset rose 12.1% in the past 24 hours to $0.611. The all-time high is $2.

Jupiter Lend: DeFi's next evolution on Solana, with record-breaking performance and advanced functionality.

Remember that in May, volumes in DeFi lending protocols reached record highs in the current market cycle, while decentralised exchanges continued to lose ground.

Previously, the DEX 1inch aggregator also added support for Solana. Users of the dApps can make exchanges by connecting Phantom or Trust Wallet via WalletConnect.

The Jupiter team continues to expand the capabilities of its platform, moving beyond the classic DEX aggregator and into lending with the new Jupiter Lend protocol. The new service promises to simplify opening deposits and obtaining loans, making it quick and convenient - literally with a click.

A key feature of the protocol will be a high LTV, up to 90%, significantly higher than the competition, guaranteed by improved risk management and efficient settlement mechanisms.

A minimum fee of 0.1% will allow users to save on operational costs, making the offering particularly attractive to active market participants.

The move into the lending segment is a natural progression, expanding the range of services and strengthening the Solana ecosystem. Thanks to the integration with Fluid on Ethereum, Jupiter Lend gains additional benefits and access to a wider audience, with a positive impact on the liquidity and activity of the platform.