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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.
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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.