Key Points
- Jupiter Exchange, Solana’s largest decentralized trading platform, has acquired SolanaFM, a leading Solana blockchain explorer, to enhance data and infrastructure capabilities for the Solana ecosystem.
- Jupiter unveiled several major updates at the annual Solana conference, including a new API platform, improved liquidity features, and plans for a mobile app with zero-fee token swaps.
In a strategic move, Jupiter Exchange, Solana’s biggest decentralized trading platform, has acquired SolanaFM, a prominent Solana blockchain explorer. This acquisition aims to accelerate development in data and infrastructure capabilities, ultimately enhancing functionalities for the Solana community.
Jupiter Exchange, which boasts over $300 billion in trading volume, expressed excitement about the acquisition, stating that it would improve their data and system capabilities tenfold. The SolanaFM team confirmed that their platform will continue to operate as usual while contributing to Jupiter’s growth potential.
Founded in 2021 by three Singapore Management University students, SolanaFM has provided in-depth insights into transaction histories, smart contracts, and token information on the Solana blockchain. The explorer has received significant backing, including a $4.5 million seed funding round in 2022 led by SBI Group’s Digital Asset Opportunity Fund, with participation from Zee Prime, Spartan Capital, and K3 Ventures, among others.
Jupiter Unveils Major Updates at Solana Conference
At Breakpoint, the annual Solana conference, Jupiter Exchange announced several significant updates to its platform:
- Metropolis API: A new platform designed to streamline development on Solana with token, price, and swap APIs.
- Jupiter RFQ (Request for Quote): An improvement to enhance liquidity by allowing market makers to provide pricing directly to the routing engine.
- Next-generation perpetuals trading platform: Offering features such as limit orders, gasless transactions, and an advanced Dove oracle system.
Jupiter Mobile: Simplifying Onboarding to Solana
In addition to the technical updates, Jupiter revealed plans to release Jupiter Mobile, an app aimed at onboarding new users to the Solana ecosystem. The app will allow users to swap tokens using Apple Pay, Google Pay, or credit cards with zero platform fees, potentially lowering the barrier to entry for new cryptocurrency users.
These positive developments come in the wake of Jupiter’s recent warning to Solana users about a malicious Chrome extension that was draining users’ wallets, highlighting the exchange’s commitment to user security alongside its expansion efforts.
As Jupiter Exchange continues to grow and innovate, its acquisition of SolanaFM and the introduction of new features demonstrate the platform’s dedication to improving the Solana ecosystem and attracting more users to decentralized finance.
