Jupiter Unveils New Lending Protocol With Fluid - Unchained

Jupiter, the top decentralized exchange aggregator on Solana, announced the launch of a new lending protocol at the Solana Accelerate conference on Thursday.

The protocol, named Jupiter Lend, will provide loan-to-value ratios of up to 90%, higher than the 75% typically offered on other crypto lending platforms

It was built in collaboration with Fluid, a DeFi innovator originally established on Ethereum.

This story is an excerpt from the Unchained Daily newsletter

To get these updates in your email for free, subscribe here.

The lending protocol will offer a one-click feature for deposits and a “vault protocol” to enable users to borrow at competitive rates. Fees are expected to be as low as 0.1%, allowing users to borrow more with less collateral and pay less for access to liquidity.

Jupiter currently handles about 95% of Solana’s DEX aggregator volume, making it a cornerstone of the ecosystem

The DEX’s native token, JUP, rallied 12% to $0.58 following the news.