Bybit will list JUP on both its spot and derivatives platforms on Jan. 31, marking a significant development in decentralized finance (DeFi). The JUP token will play a pivotal role in governing the future Jupiter DAO, promising a groundbreaking decentralized governance model.
Strategic Decision by Bybit
Ben Zhou, co-founder and CEO of Bybit, emphasized the rigorous due diligence conducted on the Jupiter project. Bybit’s decision to list JUP reflects confidence in Jupiter’s potential, especially considering its dominance in handling 65% of Solana DEX volume. This move aligns with Bybit’s commitment to providing users with diverse opportunities in the dynamic DeFi landscape.
Since its inception in October 2021, Jupiter has significantly impacted the DeFi space as Solana’s premier on-chain swap aggregator. By offering minimal slippage and rapid execution through innovative routing across multiple DEXs, Jupiter has reshaped DeFi transactions.
Anticipated Impact and Community Airdrop
The listing of JUP on Bybit is expected to attract considerable attention from both existing Solana enthusiasts and new investors seeking diversified crypto portfolios. This announcement follows a series of successful airdrops within the Solana ecosystem, contributing to a bullish trend in late 2023.
The official listing of JUP on Bybit is scheduled for Jan. 31, 2024, at 3 PM UTC. Users will be able to withdraw JUP from Feb. 1, 2024, at 10 AM UTC. The spot market will go live first, followed by the perpetual contract one hour later.
Bybit’s decision to list the JUP token underscores the platform’s commitment to fostering innovation and expanding DeFi opportunities for its users. With Jupiter’s established presence in the Solana ecosystem, the listing on Bybit promises to further accelerate the growth and adoption of decentralized finance.