Jupiter

Jupiter started as a swap aggregator for Solana: instead of trading against one pool, it searches many exchanges and splits a trade across them to get more of the output token. It has since grown into a set of products under one website, jup.ag, and one mobile app. Its docs describe Spot trading, Perps, Predict prediction markets, Jupiter Lend, JLP, JupSOL liquid staking, a token launch studio, a bridge, the Jupiter Wallet and the JupUSD stablecoin.

The company behind the interface is Block Raccoon S.A. Its terms of use, last updated on 21 September 2024, say it operates the mobile app and jup.ag and deployed the open-source smart contracts behind them. Disputes go to arbitration under London Court of International Arbitration rules, with Panamanian law governing.

The people are less visible. The co-founder known publicly is pseudonymous and goes by Meow, as The Block reported in 2025. Jupiter's GitHub organization dates from December 2021. JUP, the governance token, is staked at vote.jup.ag to vote in the Jupiter DAO and to earn Active Staking Rewards each quarter.

A Spot swap starts with a quote. In the default Ultra mode, several routing engines compete for each trade: Jupiter's own Metis router, which searches Solana exchanges and can split the order, JupiterZ, where professional market makers quote prices directly, and outside routers including Dflow and OKX. Jupiter then sends the transaction through its own landing system, which it says provides MEV protection, and can make a swap gasless when the wallet lacks SOL. Manual mode lets the user set slippage and priority fees and uses Metis and JupiterZ routing.

Everything is signed from the user's wallet. Jupiter does not hold Spot balances; the tokens leave the wallet and the output comes back in the same transaction.

• Perps: leveraged longs and shorts on SOL, ETH and wBTC. Traders trade against the JLP pool, which takes the other side and earns fees; Beta markets on assets such as JUP and HYPE run on a separate engine called GUM.
• JupSOL: a liquid staking token for SOL staked with Jupiter's validator, built on Sanctum's stake pool program. Its exchange rate against SOL rises as rewards accrue.
• Jupiter Lend: lending and borrowing markets on a shared liquidity layer, with Earn, Borrow, leverage loops and flash loans.
• Limit and DCA orders: orders that execute at a set price or in rounds over time.

Older descriptions of Jupiter, including ours, said it takes no cut of a swap. That is no longer true of the default mode. Ultra charges a platform fee that is built into the quote and set by token pair; Manual mode still carries no Jupiter commission. Network fees and any Jito tip are paid on top in both modes.

Gasless swaps add the SOL cost the relayer paid, converted into the traded token, with no extra margin, and are only offered when that cost stays under 10% of the trade. Swaps placed inside the Jupiter Mobile app follow a separate mobile fee schedule.

For a trader comparing venues, the practical point is that Manual mode remains free of Jupiter fees for those willing to set slippage themselves. See how Jupiter compares with other trading tools.

JupSOL pays staking rewards, MEV and priority fees earned by Jupiter's validator through a rising exchange rate. When we measured it on 14 July 2026, its net yield was 5.70%, close to the full Solana staking rate. The weak point was the market for it: the deepest direct on-chain pool held about $200,000 against roughly $404 million of JupSOL. Aggregated routing does better than one pool, but anyone who needs to exit a large position quickly should plan on the delayed unstake, which takes up to about a day, or pay the 0.1% fee for an instant conversion within the pool's capacity. More on how JupSOL compares with other liquid staking tokens.

Jupiter Perps works differently from an order book. Prices come from oracles and traders trade against the JLP pool, so JLP holders are the counterparty to traders' profits and losses. A liquidated position loses all remaining collateral. JLP holders earn fees but carry the risk that traders win. See how Jupiter Perps compares with other perpetual exchanges.

Jupiter's security page lists independent audits for each product. The swap program was reviewed by Sec3 in 2022 and by Offside Labs in April 2024 and October 2025, and the JupiterZ order engine by Offside Labs in November 2024. Jupiter Perps was audited by OtterSec in 2023, Sec3 in January 2024 and Offside Labs in February 2024; the docs note the program has been upgraded since. Jupiter Lend has the longest list: audits by Zenith, Offside Labs, MixBytes, OtterSec and Neodyme, a Code4rena contest and two Certora formal verifications between July 2025 and June 2026. The docs themselves say an audit is a point-in-time review that does not guarantee a program is bug-free.

In this check we found no exploit of Jupiter's swap, perps or lending programs. The incident on record is the February 2025 takeover of its X account, which pushed scam tokens to followers. The risks a user should weigh:

• Program control. Jupiter's programs can be changed after audit; the security page notes the Perps program has been upgraded since its reviews. Jupiter Lend's Transparency page lists each market's multisigs, signer thresholds and whether a timelock applies.
• Token risk. Jupiter routes to almost any Solana token, including tokens minutes old. The higher fee on new tokens reflects how volatile they are; it is not a safety check.
• Leverage. Perps positions can be liquidated in fast markets, and liquidation takes all remaining collateral.
• Phishing and fake accounts. The 2025 X hijack showed that even an official handle can be used against followers. Check links on jup.ag and never sign transactions from a direct message.

Jupiter's terms list prohibited localities. They say Jupiter does not interact with wallets located in or belonging to residents of the United States, Singapore, Myanmar, Ivory Coast, Cuba, Crimea and Sevastopol, the Democratic Republic of Congo, Iran, Iraq, Libya, Mali, Nicaragua, North Korea, Somalia, Sudan, Syria, Yemen, Zimbabwe, or any region under US, UK or EU sanctions. The list also names "the Republic of China". The terms forbid using a VPN to get around this.

There is no account sign-up or KYC for swapping; a Solana wallet is enough.

To trade, use a Solana wallet such as the Jupiter Wallet, Jupiter Mobile or another self-custody wallet, holding the token to sell and a little SOL for fees. Open jup.ag from a bookmark, connect, pick the pair and review the quote, which shows the rate, fee breakdown and route before you sign. In Ultra mode the fee is already included.

Exiting depends on the product. A swap's output is in your wallet as soon as it settles. Perps positions close at the oracle price minus fees. JupSOL can be swapped instantly at the market rate, unstaked with a delay of up to about a day, or converted to a native stake account for a 0.1% fee. Staked JUP has a fixed 7-day cooldown before it can be claimed. Jupiter Lend withdrawals depend on available liquidity in each market.

Jupiter runs a support hub at support.jup.ag and user docs at docs.jup.ag, and its terms give [email protected] for legal questions. Official announcements come from @JupiterExchange on X. Because Jupiter does not hold Spot balances, support cannot recover tokens sent to a wrong address or reverse a swap; a search for how to recover a Jupiter exchange account usually means a wallet problem, which only the wallet's own recovery phrase can solve.

Anyone who messages you first offering Jupiter support, airdrop claims or wallet validation should be treated as a scammer.

Jupiter's GitHub organization was created in December 2021, when the product was a Solana swap aggregator. The audit record traces how it grew: the swap program in 2022, perpetuals in 2023 and 2024, limit orders and the JupiterZ market-maker engine in 2024, and Jupiter Lend from mid-2025. The terms naming Block Raccoon S.A. as operator date from September 2024. In February 2025 its X account was hijacked. By 2026 the docs also covered prediction markets, the JupUSD stablecoin and a mobile wallet, and the swap API had moved to a V2 that charges the pair-based Ultra fee.