First-Class Warehouse Research Report: Aggregator Jupiter on Solana

Kabir903

Jupiter is a transaction aggregator built on the Solana network. Launched in October 2021, it has become the preferred frontend for Solana users, aggregating over half of Solana's transaction volume. The development of Jupiter's transaction aggregation functionality is approaching its peak, and to expand horizontally, the protocol introduced the Launchpad platform Jupiter Start and the incubator Jupiter Labs. With a large user base and resources, the project quality on the Launchpad platform is reasonably assured. Additionally, Jupiter Labs' derivative project has high Total Value Locked (TVL) and trading volume. Considering these factors, Jupiter has been chosen for focus.

Investment Summary:

Jupiter is a transaction aggregator built on the Solana network, with a user interface similar to 1inch. The protocol provides transaction aggregation, limit orders, and dollar-cost averaging features.
Jupiter aggregates over half of Solana's transaction volume, with limited room for further development in transaction aggregation.
The protocol expanded horizontally by introducing Jupiter Start and Jupiter Labs, similar to a launch platform.
As of January 15, 2024, the protocol has not disclosed financing information.
Jupiter's transaction aggregation functionality has nearly reached its peak, and its share of aggregated transaction volume on the Solana network has limited room for improvement. It has been the only competitive transaction aggregator on the Solana network, with a 24-hour trading volume of approximately $460 million, conservatively estimated to exceed 50% of Solana's overall transaction volume, indicating limited further improvement.

Jupiter Start, launched as a project promotion solution, has significant potential with the backing of resources and a large user base. While key features like Launchpad and Atlas are yet to be launched, the project benefits from Jupiter's extensive user base, Jupiter Labs' resources, and collaborative projects.

Jupiter Labs, a project forking versions of other chain's star products, has substantial potential under Jupiter's influence. Jupiter Labs has temporarily introduced two projects - derivatives and LSD stablecoin. The derivatives project, similar to GMX V1 and Lybra, is in use, with a daily trading volume close to $90 million (limited by TVL). Under Jupiter's influence, Jupiter Labs' products have attracted market attention, users, and funds. The upcoming LSD stablecoin protocol innovates slightly in lending rates and redemption mechanisms, filling a gap in Solana's related fields.

In summary, Jupiter dominates the Solana transaction aggregation sector with no competitors, aggregating over half of the transaction volume and making DEX a foundational liquidity protocol on Solana. Backed by a large user base and project resources, the horizontal expansion with Jupiter Start and Jupiter Labs also holds strong market potential, with potential synergies between Jupiter Start and Jupiter Labs. Considering these factors, Jupiter has been chosen for attention.

Yamini003

This aggregator is something worth exploring and checking out.

Jafar224

It's still beneficial to look at more information.