2025-12-12 06:26:34

How exaggerated are the annual report figures just announced by Jupiter? With a transaction volume of 1.5 trillion and 10 million real users—can this still be called a DEX aggregator? This scale alone could cause a stir in the traditional finance world.

At the Breakpoint conference, two major moves are worth paying attention to: the Lend protocol officially open-sourced, and VRFD launched simultaneously. The move with Lend is particularly crucial; the borrowing logic from Kamino has already been tested and validated in the market. Now that it’s open-sourced, it means the gameplay of the entire Solana DeFi ecosystem will need to be iterated. The launch of VRFD directly fills a key piece of the verification infrastructure puzzle, opening up new possibilities for the on-chain credit system.

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NewPumpamentals

· 12-14 05:46

A transaction volume of 1.5 trillion yuan, this almost matches a quarter of NASDAQ, Jupiter is truly amazing.

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FloorPriceNightmare

· 12-12 08:05

1.5 trillion, oh my god, this number is a bit outrageous, Jupiter has really taken off The open-source Lend protocol is a crucial step, the Solana ecosystem is really about to be reshuffled What did the launch of VRFD fill in? Feels a bit out of sync Kamino's lending logic has long been ready to be open-sourced, it's a bit late now to take action If this continues, the label of DEX aggregator truly can't hold anymore haha On-chain credit has great potential, but will it just be another hype? Is 10 million real users serious? That's way more than I expected Can the traditional financial logic be truly transplanted onto the blockchain, bro? Open-source protocols = ecosystem prosperity, this formula hasn't been verified yet If Solana can get this right, it really might shake things up

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Rugpull幸存者

· 12-12 06:52

1.5 trillion in trading volume? This is really not a hype; Jupiter is almost becoming a super app. The Solana ecosystem's move to open source this time is quite aggressive. After the Lend protocol is rolled out, competition will likely become even fiercer. Regarding VRFD supplementing on-chain credit, it seems to be the real game-changer.

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YieldFarmRefugee

· 12-12 06:47

1.5 trillion, the number isn't lying, right? Is it real? Open-source Lend's move is quite aggressive, feeling like the DeFi ecosystem is about to be stirred up again. Can VRFD really be implemented in practice? All the prerequisites have been tested. Has Solana risen this time? But filling in the validation infrastructure does indeed spark imagination. Jupiter is no longer just a DEX; it's financial infrastructure. With that many users, traditional finance should be worried. The lending logic has been validated and then open-sourced; Solana players still dare to do it.

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consensus_failure

· 12-12 06:39

1.5 trillion in transaction volume, really impressive Open-source Lend's move definitely has some merit, the ecosystem needs an upgrade VRFD building infrastructure? Feels like a bunch of new concepts again Jupiter's data looks great, but I have no idea about the quality of real users Solana DeFi's new iteration, time to adapt to new rules again Ten million users sounds impressive, but active engagement is the key On-chain credit systems, but only if people actually use them Traditional finance would have given up at this size already The open-source significance of Lend isn't that big, mainly depends on subsequent execution VRFD is worth paying attention to

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DaoTherapy

· 12-12 06:31

The 1.5 trillion scale has broken through the circle directly, this is not the level that an aggregator should have at all. Lend's open-source move is ruthless, and the Solana DeFi landscape is about to be disrupted. The VRFD infrastructure has been completed, and the on-chain credit system has suddenly become much more realistic. Jupiter’s annual report data is outrageous, traditional finance should be scared. Open source + validation infrastructure are both in place, and the Solana ecosystem has truly taken off now. Looking at it this way, Kamino’s logical validation is not at all a waste, now the entire ecosystem can benefit from the dividends. What does 10 million real users mean? Top brokerages don’t even have that volume. Lend's open source approach actually makes the entire DeFi gameplay transparent, leaving no place for latecomers to hide. Once the credit system is running smoothly, the on-chain world will truly be orderly.

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