Highlights:
- Jupiter exchange acquires SolanaFM to enhance infrastructure and provide real-time data for Solana users.
- The Coinhall acquisition enables Jupiter to expand cross-chain trading capabilities and improve user experience.
- Jupiter launches new products, including Jupiter Mobile and Metropolis, while addressing security challenges in the ecosystem.
Jupiter expands with the acquisition of SolanaFM, a blockchain explorer backed by Etherscan. The announcement was made on September 20, alongside the introduction of Jupiter Mobile, a new mobile platform aimed at onboarding millions of users into the Solana ecosystem.
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FM x JUP
We’re excited to announce that SolanaFM has been acquired by @JupiterExchange, @solana’s leading decentralized exchange. pic.twitter.com/pJ3LA8F8sp
— SolanaFM (@solanafm) September 20, 2024
Jupiter Exchange Strengthens Market with SolanaFM Acquisition
Jupiter Exchange is one of the largest decentralized trading platforms on Solana, according to DappRadar data. By acquiring SolanaFM, the DEX aims to strengthen its infrastructure and offer real-time data to users. This move will help the exchange solidify its market position and enhance its service offerings.
SolanaFM confirmed the acquisition on X, stating that its focus will now be enhancing Jupiter’s data and infrastructure capabilities. Jupiter co-founder Siong Ong also confirmed the acquisition at the Solana Breakpoint event in Singapore, emphasizing that the partnership will help drive significant improvements to the platform.
Jupiter Expands Cross-Chain Capabilities with Coinhall
In addition, the company has acquired Coinhall, a key aggregator on the Cosmos Chain. This acquisition will allow Coinhall to integrate Solana functionalities into Jupiter’s platform, expanding cross-chain capabilities for users. Coinhall will bring its expertise in real-time infrastructure, cross-chain trading, and professional trading terminals to Jupiter’s ecosystem.
Additionally, the integration will improve user experience by offering more seamless cross-chain trading options. Furthermore, Jupiter plans to integrate Coinhall’s technology to improve its offerings. This will provide traders with more advanced features. This strategy aims to broaden Jupiter’s services and deliver users a more diverse array of decentralized financial options.
Jupiter Unveils New Mobile App, Ape. Pro and Metropolis Platform
At the Solana Breakpoint event, Jupiter unveiled several new product updates. The upcoming Jupiter Mobile app will allow users to trade on the platform using Apple Pay and Google Pay. The app is being developed in partnership with MoonPay and promises zero platform fees for users.
Solana is the best chain to build cool products & onboard users.
Today's upgrades represent our effort to make Solana a better chain for developers, users, traders, memecoin creators or community members.
Read on for a summary of our 5 key updates, live over the next few weeks pic.twitter.com/Q30hV28pqd
— Jupiter 🪐 (@JupiterExchange) September 20, 2024
Additionally, Jupiter announced plans to launch an upgraded version of its memecoin trading platform, Ape. Pro. This new platform will enable users to trade and mint memecoins on mobile devices, using social logins to streamline the process.
Another significant product in development is Jupiter’s new API platform, Metropolis. This platform will provide developers with a unified set of liquidity APIs, including token, price, and swap functionalities. Ong highlighted that Metropolis aims to consolidate all liquidity needs into one API set, offering a more efficient solution for developers.
Jupiter Faces Security Risks Amid Expansion and Product Growth
Despite the expansion, Jupiter has faced security challenges. In August, the exchange issued a warning about a malicious Chrome extension called “Bull Checker,” which was found to be targeting Solana users. The malicious extension was identified after extensive investigations into user complaints, reflecting the ongoing security risks in the ecosystem.
Jupiter is expanding its products and infrastructure to meet user needs while managing security challenges. With the acquisitions of SolanaFM and Coinhall, plus new product launches, Jupiter is set to grow in the Solana and DeFi markets. These moves aim to improve security, user experience, and cross-chain capabilities, helping Jupiter strengthen its position in the decentralized exchange space.
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