The developers of the Solana-based DEX aggregator, Jupiter, have unveiled a lending platform named Jupiter Lend, according to The Block.
This initiative is part of a partnership with colleagues from Fluid within the Ethereum ecosystem.
The team has begun forming a waiting list.
The “lending protocol” Jupiter Lend will enable “one-click” deposits, while the “vault protocol” will allow borrowing of assets “at good rates.”
The LTV is expected to be 90%, compared to the common 75% on other blockchains. This high value will be supported by a special liquidation mechanism and “dynamic limits for risk isolation.”
The Jupiter Lend fee will be just 0.1%.
The developers plan to expand functionality and introduce new features to the composite platform, including through collaboration with external teams.
The move into the lending sphere represents a significant step into a new, yet related, vertical.
“You can move from swaps and [trading] perpetual contracts to borrowing and lending. Liquidity begets liquidity,” explained project representatives.
In January, Jupiter distributed 700 million native JUP tokens, valued at approximately $580 million, among users, stakers, and contributors based on trading activity following an airdrop of 1 billion JUP in 2023.
In the past 24 hours, the asset rose by 12.1% to $0.611. The all-time high is $2.
In May, the volume of funds in lending DeFi protocols in the current market cycle reached record levels, while decentralized exchanges continued to lose ground.
Earlier, the DEX aggregator 1inch added support for Solana. Users of the dapp can make swaps by connecting Phantom or Trust Wallet through WalletConnect.