The developers of the Solana-based DEX aggregator, Jupiter, have unveiled a lending platform named Jupiter Lend, according to The Block.
This initiative is part of a partnership with colleagues from Fluid within the Ethereum ecosystem.
The team has begun forming a waiting list.
The “lending protocol” Jupiter Lend will enable “one-click” deposits, while the “vault protocol” will allow borrowing of assets “at good rates.”
The LTV is expected to be 90%, compared to the common 75% on other blockchains. This high value will be supported by a special liquidation mechanism and “dynamic limits for risk isolation.”
The Jupiter Lend fee will be just 0.1%.
The developers plan to expand functionality and introduce new features to the composite platform, including through collaboration with external teams.
The move into the lending sphere represents a significant step into a new, yet related, vertical.
“You can move from swaps and [trading] perpetual contracts to borrowing and lending. Liquidity begets liquidity,” explained project representatives.
In January, Jupiter distributed 700 million native JUP tokens, valued at approximately $580 million, among users, stakers, and contributors based on trading activity following an airdrop of 1 billion JUP in 2023.
In the past 24 hours, the asset rose by 12.1% to $0.611. The all-time high is $2.
In May, the volume of funds in lending DeFi protocols in the current market cycle reached record levels, while decentralized exchanges continued to lose ground.
