Bybit, the world’s third largest cryptocurrency exchange by trading volume, will introduce JUP, the native token of Jupiter – a pioneering liquidity aggregator on the Solana network. The JUP token, which will debut on spot and derivative trading platforms on January 31, will play a key role in Jupiter’s future decentralized autonomous organization (DAO), billed as a pioneering model of decentralized governance.
Bybit is among the three largest cryptocurrency exchanges in the world in terms of the volume of spot and derivative transactions, as well as network traffic, so it is ideally suited for the debut of one of the most anticipated tokens in the cryptocurrency industry. The JUP token debuting on the stock exchange will be characterized by one of the highest levels of liquidity on the cryptocurrency market, which will favor the natural formation of its price.
Its official stock exchange debut is scheduled for January 31, 2024, at 15 UTC time. Payment of JUP will be possible from February 1, 2024, at 10 UTC time. Spot transactions will be launched first. An hour later, perpetual contracts will become effective.
“Before every debut on Bybit, we conduct detailed due diligence on the project and the team responsible for it, and that’s what we did with Jupiter,” said Ben Zhou, co-founder and CEO of Bybit. – Jupiter accounts for 65% of the turnover on decentralized exchanges on the Solana network, which is an impressive result proving its enormous potential. Thanks to JUP, our users will gain new opportunities in the dynamic world of decentralized finance.”
Jupiter, which handles the majority of the trading volume of decentralized exchanges on the Solana Network, has been a key player in the DeFi industry since its inception in October 2021. Jupiter is the first on-chain cryptocurrency exchange aggregator on the Solana Network and has revolutionized DeFi trading by minimizing slippage and ensuring faster execution thanks to routing across various decentralized exchanges.
The debut of the JUP token and the accompanying airdrop are the next step after a series of successful airdrops in the Solana ecosystem, which contributed to the bull market at the end of 2023.
The debut of JUP on the Bybit exchange is expected to generate great interest both among current supporters of the Solana network and new investors seeking to diversify their cryptocurrency portfolios.