Jupiter Launches Lend Platform, Boosting $JUP 10% as DeFi Lending Grows
Jupiter, a leading decentralized exchange aggregator on the Solana blockchain, has unveiled a new lending platform called Jupiter Lend. The announcement has sparked a 10% surge in the price of $JUP, Jupiter's native token.
Jupiter Lend introduces a dual protocol structure: a Lending Protocol for seamless liquidity access and a Vault Protocol for loans with flexible terms. This strategic expansion into the decentralized lending sector allows Jupiter to tap into the growing market, which currently accounts for $55 billion of the total $118 billion TVL in DeFi, marking a 28% increase in the past month.
The platform offers competitive features such as high Loan-to-Value (LTV) ratios up to 90% and fees starting as low as 0.1%. Jupiter Lend is a collaborative effort between Jupiter and Fluid, a DeFi infrastructure provider. It is designed to be fully composable, enabling other developers to integrate and build upon it.
Jupiter Lend's launch is set to diversify Jupiter's offerings and tap into the thriving decentralized lending sector. With its competitive features and collaborative development, Jupiter Lend is poised to make a significant impact on the DeFi landscape.
Read also:
- Electric-powered vessels take to the waters of Maine
- Elon Musk accused by Sam Altman of exploiting X for personal gain
- Comparing the value of top electric scooters: Kinetic DX versus Bajaj Chetak versus TVS iQube - Which one offers the best bang for the buck?
- American Eagle's risque promotional effort featuring Sydney Sweeney leads to the brand being categorized as a 'trendy stock' among teenagers.
