Jupiter Acquires Rain.fi to Bolster Credit Market Growth as JUP Hovers Near Record Low

Source: CryptoNewsNet Original Title: Jupiter acquires Rain.fi to bolster credit market growth as JUP hovers near record low Original Link: https://cryptonews.net/news/altcoins/32122375/

Key Takeaways

• Jupiter’s acquisition of Rain.fi will expand its credit market offerings with fixed-term lending products.
• Rain users will receive JUP token rewards, while stJUP deposits have been halted during the integration phase.

Prominent DEX Jupiter has acquired Rain.fi, a platform designed to scale the credit market on Solana, to enhance its ecosystem and boost on-chain credit market growth, according to a recent announcement.

Rain was built to scale and accelerate the credit market on Solana, powered by fixed-term loans. As credit markets evolve, timing and distribution are key. Rain is now joining the Jupiter ecosystem to accelerate on-chain credit market growth.

Rain.fi noted that the Rain app will keep running for several months as the team prepares for a smooth, gradual sunset and migrates key features under the Jupiter umbrella. stJUP deposits have ended, and users are advised to start unstaking from Liquid, though rewards will continue until the next ASR cycle. stCOLLAT staking is unaffected.

The deal arrives at a time when Jupiter’s JUP token is extending its decline amid a market-wide downturn that has pushed Bitcoin down to $90,000.

JUP was changing hands at around $0.21 at press time, hovering near record lows, per market data.