Jupiter Team Launches Innovative Lending Protocol Jupiter Lend

The developers of the DEX aggregator on Solana, known as Jupiter, have launched a lending platform called Jupiter Lend, according to a report by The Block.

This initiative is part of a collaboration with the Fluid team within the Ethereum ecosystem.

The team has begun to compile a waitlist.

The «Jupiter Lend» lending protocol will enable users to open deposits with just one click, while the «storage» protocol will allow for borrowing assets at favorable rates.

It is anticipated that the Loan-to-Value (LTV) ratio will reach 90%, in contrast to the typical 75% seen in other blockchains. This elevated LTV is supported by a dedicated liquidation mechanism and «dynamic limits to isolate risk.»

Jupiter Lend will charge a minimal fee of only 0.1%.

The developers aim to enhance the platform’s functionality and introduce new features, also by engaging external teams.

This move into the lending space marks a significant advancement into a new, yet related, vertical.

«You can transition from swaps and perpetual contract trading to borrowing and lending. Liquidity generates liquidity,» project representatives explained.

In January, Jupiter distributed 700 million native JUP tokens valued at approximately $580 million to users, stakers, and contributors based on trading activity following a 1 billion JUP airdrop in 2023.

Over the past day, the asset has risen by 12.1%, reaching $0.611, with its all-time high being $2.

It is worth noting that in May, the volume of funds in DeFi protocols reached record levels in the current market cycle, while decentralized exchanges continued to lose ground.

Previously, the DEX aggregator 1inch added support for Solana, allowing users of the decentralized application (dapp) to make exchanges by connecting their Phantom or Trust Wallet via WalletConnect.