Grow The Pie Update #2: Jupiter Start​

At Breakpoint, we presented 3 major initiatives to grow the Solana Pie: $JUP, Jupiter Start, and Jupiter Labs. Today, after extensive discussions with the ecosystem, we are delighted to elaborate more about Jupiter Start.

For a long time, we have been wondering how we can encourage traction and awareness for great new projects while not accidentally promoting scams or being biased one way or the other.

It is crucial for ecosystems to strike the balance - new projects and tokens are literally the lifeblood of ecosystems, but hyping the wrong projects is probably the biggest breaker of trust for retail investors.

If we hit that balance though, we will be able to help good projects get more traction and awareness while making trading and investing more fun, trustworthy, and rewarding for users.

If we achieve that, we will also in essence be encouraging the safe, effective decentralized trading of new tokens, while helping the Solana ecosystem build more trust and connectivity.

Jupiter Start will be our year-long initiative to do so, banking on close collaboration with the community and ecosystem to help vet, debate, understand, and highlight great new projects.

The 5 aspects of Jupiter Start are:

1. Jup Community Introductions
2. Jup Prelisting
3. Jup Educate
4. Jup Launchpad
5. Jup Atlas

We will start piloting the first 3 as soon as next week, while the next 2 will be done next year, since they involve funds and will need to be more carefully designed. As with all pilots, we will be iterating and experimenting with the formats very frequently.

Grow The Pie Update #1: Community Airdrop​

Here’s the breakdown for the first round of the community airdrop, along with a detailed rationale about how we arrived at it.

We want to be as open as possible about explaining our thought processes, unique circumstances and data points we have gathered, and make sure that the airdrop is as understandable as possible, even the nuances of the discussion.

We take every part of the airdrop discussion very seriously, and we are immensely grateful for all the time and effort that everyone put in. Even if we cannot give everyone what they deserve or think is correct, I would like everyone who ever interacted with Jupiter to know that their usage/contribution was seriously considered.

An official airdrop allocation site will be up for everyone to check their stats and allocations. That will conclude the current phase, moving us to the next phase of the JUP token launch.

BASICS:

1. There will be 10B JUP Tokens.

2. As mentioned in our Breakpoint talk, this airdrop is to engage users who used us in the past, and invite them to be closely involved with the next phase of the Jupiter journey. Which means, the 955K wallets who interacted with Jupiter directly before Nov 2nd are eligible for consideration. There will be future rounds of airdrops for new users, so stay tuned for that.

3. This is obviously a massive number of wallets, and with 35B of volume, how to slice it up to make it meaningful was always going to be a challenge, but we are gonna try our best.

4. All users who interacted with Jupiter via our many amazing integrations for example Solincinerator, Solendprotocol and all the wallets will be included in the airdrop if the transaction was signed directly by the user and we have that data.

5. Also as mentioned, 40% will be allocated to the community over 4 rounds of airdrops. 10% will be allocated in this round, which will be 1B tokens. We expect to start one more round of growth oriented airdrop before token launch.

6. We have never announced or even hinted at any form of airdrop or even token until a couple of days pre-breakpoint. All growth has been purely organic. There was no massive increase in wallets in those few days, so there’s no reason to think that we were massively spammed. Therefore, de-duplication is not a particular area of concern for us, but will definitely be for future rounds.

7. All previously published dashboards and criteria were from 3rd parties. While certainly a good proxy, we are taking into account a much wider set of data points and nuances into consideration. So do wait for the official site to check both the volume, score and allocation.

8. First round allocations will be up to check but tokens will not be live yet. There are several phases to the token launch, which we covered in the breakpoint talk and we will share more later on.

PERSPECTIVES​

There were many extremely different perspectives and proposals being floated over the last week, with 2 major directions, the first being a completely even distribution, and the other being a completely volume based distribution. There were also many great proposals that aimed to strike a balance, and we took inspiration from many of those.

DATA​

Based on these feedback and ideas, we looked into the data in a lot of detail, which you can see in the attached image.

1. Massive Power Law At Play The most important data point here is the massive power law in terms of trading volume. 0.1% of wallets account for 60% of volume, while 0.2% account for 80% of volume. Even within the 0.2 tier, there are non-bot users that account for 240M of volume, far more than the average user in this elite tier. Conversely, the lower 70% accounts for much less than 1% of volume.

A linear (or even quadratic) proportion based on volume will not work for a good distribution, even for relatively power users with >100k or >1M of volume. We did not want to overcomplicate it with fancy maths too much (base x logs), so we opted for a reasonable tier method instead that will ensure that no one will get way too much or too little.

2. Bigger wallets were more active before 2022, while smaller wallets were more active after 2023. A larger number of the bigger wallets turned out to have used it mostly before 2023, while smaller wallets were more active in 2023. This suggests that a multiplier for 2023 volume will have the effect of bumping up small wallets into higher tiers.

3. Stable/xSOL-SOL/Bot volume were more significant at the highest levels One interesting observation was that stable/xSOL-SOL/bot volume was far higher at the highest levels. For example, the 2 wallets that did >500M in volume were purely arb traffic. While our share of user volume has greatly increased over time, arb bots consisted of a fairly large volume, especially early on in the cycle.

To be clear, there are many kinds of bots, and many of them play an important part in the liquidity ecosystem, so this is an observation to open up the conversation about whether to differentiate between these volumes.

There are many other interesting observations not covered above, but feel free to join our discord and chat more!

AIRDROP BREAKDOWN​

With these in mind, we would like to present the airdrop breakdown for the first 10%.

• Even distribution for all wallets (2%)
• Tiered score based distribution, with score based on adjusted volume (7%)
• Community members on discord, twitter, developers (1%)

We believe this breakdown will reward power users and contributors significantly more, while likely giving everyone else a reason to come back and engage.

Let me dive into each of these categories:

1. Even distribution between all wallets (2% / 200M tokens) While not using volume as the major criteria was always going to be a non-starter, we also greatly appreciated the point that we should aim to be as inclusive as possible to maximise the community building potential here, and bring as many people back as possible regardless of volume.

As such, we are allocating 200M tokens, which means about 200 tokens for each account, which would be a nice welcome present if Jupiter does well. For those who have not tried out Jupiter or Solana for a long time, do come back and try us out again - lots have changed!

We are not de-duplicating here for reasons mentioned above. We have never announced an airdrop before, and neither did we see a huge influx of wallets at any point in time, so we think it's more important to have everyone included, vs performing opaque methods of deduplicating.

2. Tiers Based On Adjusted Volume Score (7% / 700M Tokens) The vast majority of tokens in this drop will be allocated towards a tier based scoring system, with adjusted volume being the main point of reference.

Here’s where we leave the simplistic into the much more nuanced landscape of allocating based on how much they engaged with the network, how much they used Jupiter in during the bear market, and the nature of the volume.

Based on the NON-ADJUSTED volume, we will be looking at approximately:

• Tier 1: Top 2K users, 100,000 tokens each (est >1M trading vol)
• Tier 2: Next 10K users, 20,000 tokens each (est > 100K trading vol)
• Tier 3: Next 50K users, 3000 tokens each (est > 10K trading vol)
• Tier 4: Next 150K users, 1000 tokens each (est >1K trading vol)

It is important to remember that we are using these volume numbers as a proxy, since the final tiering will be based on the top X users in the given tiers based on adjusted volume.

The adjustments will likely be the following:

• multipliers for 2023 volume (likely counted 2X or 3X)
• zeroing of arb volume (defined as samemint - samemint txns)
• removing of known accounts (for example wormhole exploiter)

So, someone who traded mainly in 2022 but disappeared in 2023 will likely be dropped in tier, while someone active throughout 2023 will likely gain in tier.

One question that we are going to leave open will be whether to discount stable, xsol-sol and bot traffic.

The obvious flaw with this approach is simple - the tiers are pretty broad, tiering is kinda sorta unfair to those who just missed out on the past tier. For example, even in tier 1, you have a user who traded 240M in volume vs the average of 1M traded in that tier.

We opted for this approach because as mentioned in the earlier section, there are massive power laws at work and we want to design a system where we get meaningful amounts of tokens into large numbers of active users of Jupiter, yet have it be meaningful for everyone if they do well.

This approach ensures that anyone who used Jupiter actively, particularly in 2023, will likely see their activity reflected in the various tiers.

And since this is a community building activity, not an academic exercise to have the mathematically perfect distribution, and I personally don’t like things that are not understandable by everyone this is what we opted for in the end.

3. Community Contributors (1% / 100M Tokens) Given that community contribution cannot be placed side by side with users, we have created a completely different allocation for discord contributors, Twitter supporters and developers.

There will be multiple tiers here to reflect the level of contribution these amazing folks have in helping us become the platform we are today. We will have a preliminary list up next week, and allow people to submit additional requests as well.

Wrapping Up The Community Airdrop Consultation​

Hey all, wanted to share the main changes that we are making to the community airdrop after the last few days of very intense debates. We will also share important clarifications and explain some of the hotly debated decisions.

With this update, we are formally wrapping up the community airdrop consultation and will be focusing on getting the allocation checker website up and running asap.

This has been a long process for everyone, but we are seriously grateful for those who took the time and effort to chim in, and that we managed to talk to so many of you representing all various segments of Jupiter users.

Sorry that this update was a couple of days late - I wanted to make sure that anyone who is interested can understand the decisions and thought processes as much as possible.

1. Changes made from first proposal After talking to everyone, I agree that we missed out on certain important aspects around OGs n consistency. As such, there will be 3 main changes we are making from the initial proposal:

• Acknowledge OGs who used the protocol in the first few months
• Add a consistency modifier, with preference to those who have used Jupiter sufficiently over the last couple of years vs one off usages.
• 2023 volume multiplier only applies to older users who stayed on

The exact details of these changes, as well as the end decisions on stables and bots will be shared on the interns wrap up the analysis of numbers and get the checker up and running.

2. Important Clarifications

• Tiers are based on adjusted scores, not volumes The volume we indicated in my last post is to explain the guidelines as to how the tiers are derived.

Therefore, there will NOT be a sharp volume based cutoff, but rather based on top 2000/10000/50000/150000 users based on the volume adjusted score.

• The 1% community allocation is for all contributors The 1% community allocation is to allow us to have high levels of discretion for various types and levels of contribution that go far beyond volume. This includes developers, Twitter contributors, Discord, etc. We will have an initial list but also allow everyone to provide submissions on their contributions. This is similarly retroactive, so only contributions made before nov 2 will be considered.

Folks with Discord roles will be allocated something simple, but this allocation is mostly focused on contribution, which we will put in serious time and effort into reviewing to do justice to everyone who helped us above and beyond in debugging, promoting, moderating, etc.

• The coming website is an allocation checker site The coming website is an allocation checker site. The token will go live later. We have a very clear token launch plan made up of 3 meows that we want to work closely with the community to execute.

3. Explainers on hotly debated decisions We have to stand by certain hotly debated decisions, including the tiering system based on adjusted score, having an allocation for universal distribution, and the 2023 multipliers.

• Bonuses for 2023 volume Probably the hottest point of contentment was the 2023 multiplier, since it appeared to prioritize newer users rather than older users. The 2023 multiplier might seem arbitrary, so let me explain. Even though the price of SOL started tanking in 2022, 2023 (after the ftx fallout) was when we really saw on-chain activity drop dramatically, and belief in Solana has completely tanked.

It is likely not a false statement to say that those continued to be active in 2023 is a big reason why Solana survived, and we want to acknowledge that. We continue to believe that a multiplier for 2023 volume is appropriate, but we will add in additional conditions to ensure that it applies only to old users who stayed on.

• No de-duplication for the even distribution The lack of de-duplicating here for the even distribution is a concern for some, but the reason here is that it is extremely hard to de-dup without making use of tedious and opaque machine learning approaches, that is at the end of the day, not foolproof. We will avoid that to make this airdrop as understandable as possible. Having a min number of transactions is not ideal as well, since that rules out a lot of users who used us via integrations and we want to be as inclusive as possible for this part of the allocation. We will likely add more rules for this in future rounds of airdrops, but not in this one.

• Disproportionate allocation for power users Many people have critiqued that power users will get a disproportionately large amount of the airdrop. However, this difference is actually much smaller compared to the difference in volume, which is closer to 1000x or even as large as 240,000x. So the extremes have actually been very much nerfed, while still making it meaningful per tier. It also encourages usage instead of farming via multiple wallets.

• Disparity in same tier Conversely, some users within the same tier have also commented why given their volume, they might get the same as someone who traded less. The difference in volume within a tier might seem big until you comprehend the massive power law at work, where a non-bot single whale can trade 240M, and 0.2% accounts for 80% of the volume even with bots excluded.

• Just missing out on tiers We understand that like airline mileage tiers, it sucks to just miss out on a tier, and we sincerely apologise for that, but this is the best we can do at the moment to prevent an overly top heavy distribution, while making it meaningful for people in each tier, and keeping the overall system relatively simple.

4. Reflections on the community consultation As mentioned, this post formally ends the consultation period for the airdrop.

Next steps:

• A site will be up soon with official criteria, scores and allocations.
• There will also be a place for users to submit their pre-breakpoint community contributions
• We will share some thoughts on this process of community consultation for airdrops, and how the process will be updated for the next few rounds.

Thanks again to everyone for being part of this process. We know it has been extremely tiring for everyone. For us, this retroactive airdrop is a once in a lifetime chance to work with all the amazing users who have been part of our journey, so we are deeply appreciate the change to engage with everyone.

Slides presented at breakpoint 2023 can be viewed here

Growing the Pie

In this paper, we share an overview of what Jupiter has built in the past year, our ethos and our strategic direction for the future. This paper serves a consultative purpose. We want to invite you to engage in dialogue with us, and contribute to shaping the future of Jupiter and its role within the Solana ecosystem.

We will be also introducing for the first time $JUP, Jupiter Start and Jupiter Labs. We hope that the details in here will serve as a catalyst for fruitful discussions.

Today, Jup.ag is the default destination for traders on Solana. We have the best aggregator in crypto and the most seamlessly integrated platform in Solana – powering a variety of trading activities, including but not limited to swaps, limit orders, dollar cost averaging strategies and more ...

We are excited to announce our plans to integrate Circle’s Cross-Chain Transfer Protocol (CCTP) to bring native USDC to Solana powered by Wormhole. CCTP is a permissionless on-chain utility that ensures secure USDC transfers between blockchains using a native burn-and-mint process.

Understanding CCTP­­​

Circle's Cross-Chain Transfer Protocol (CCTP) is an on-chain utility designed by Circle. Its primary function is to enable the seamless transfer of USDC across various blockchains through a burn-and-mint mechanism. When users want to transfer USDC from one chain to another, CCTP burns USDC on the source chain and then mints a corresponding amount on the target chain. This process guarantees that the USDC's total supply remains consistent, preserving its integrity across blockchains.

CCTP's Role in Solana and Jupiter​

The imminent integration of CCTP into Solana marks a pivotal moment for Jupiter. With this integration, Solana's ecosystem stands to benefit from increased liquidity, reduced fragmentation from fewer wrapped USDC versions, and enhanced interoperability. By facilitating native USDC transfers within Jupiter, users are presented with the benefit of efficient, zero-slippage cross-chain transfers without ever departing from the Jupiter app interface.

Integrating Wormhole Connect in Jupiter​

Wormhole has established itself as the industry standard for cross-chain messaging protocols, powering cross-chain applications. Currently, it connects over 30 leading blockchains. The Uniswap Foundation's bridge assessment committee recently recognized it as the industry’s top bridging provider, following an extensive security and decentralization report. By integrating Wormhole Connect into Jupiter, we offer users unparalleled access to liquidity across all major chains without the need to exit the Jupiter platform. This streamlined cross-chain capability not only elevates the user experience but also helps drive our product and community's growth.

Ending notes​

Being the most used dapp on Solana, we are excited to bring this liquidity to all users in the ecosystem. Once the Solana CCTP goes live, this will be available on our UI, where users will be able to connect their non-Solana wallets and transfer their USDC into Solana with zero slippage regardless of transaction size.

This advancement promises unmatched liquidity for all Solana enthusiasts, extending Solana's unique features and advantages to other chains, heralding a new era of interconnectivity in the DeFi realm.

Stay tuned to our Twitter for real-time updates on the launch of this integration.

Introduction​

Calling all Jupiter Space Catdets, welcome to the Jupiter Planetary Developer Week!

We've been working really hard to bring you fantastic new features that will make it even easier for you to create amazing liquidity use cases on Solana.

This is a whole week dedicated to Solana developers, where we will unveil major improvements to our tools, just in time for the Breakpoint conference.

So, get ready to supercharge your BUIDLing journey with us!

Day 1 - V6 Quoting API Official Release​

Today, we are happy to announce the official release of our v6 API! This is DeFi’s most powerful and comprehensive liquidity API and will power the development of sophisticated use cases and complex DeFi processes on Solana.

This announcement comes on the heels of 2 months of relentless stability and feature-level improvements, helped immensely by key early adopters, including Solend, Mango, Drift, Birdeye, Hawksight, Sphere, and Kamino who not just helped to iron out a lot of the kinks for any new infrastructure service, but also guided us towards specific improvements to make it possible for them to use Jupiter for their use cases.

In this article, we will go through key upgrades made for v6 to make building liquidity use cases much more powerful and easier:

• Upgrade to use the Metis Algo for higher liquidity to support key use cases
• Using shared intermediate token accounts for integration simplification and cost savings
• Token ledger for increased swap success rates
• A brand new referral fees system

In addition, we will also show advanced usage patterns, examples of how our partners are using it.

This launch of the v6 API is part of a series of developer announcements we are rolling out to enhance the liquidity infrastructure landscape for Solana. Stay tuned!

Key features for V6 Quoting API​

Metis Algo As Backbone For v6 Routing​

Three months ago, we launched Metis on our homepage. It's an innovative new algorithm with real time streaming and discovery, with the routing engine also completely rewritten in Rust. This heavily modified variant of the Bellman-Ford algorithm incorporates key features such as incremental route building, combined route generation and quoting, and it's also future-proofed for much better scalability as we add more DEXes and tokens.

The previous version of the API utilized an older version of the algorithm that had significant limitations. Most notably, it did not provide efficient routing for large trades, which constrained its applicability for major use cases such as margin trading and liquidations. Moreover, it employed the former JavaScript engine, resulting in inconsistent API performance.

With the v6 API now using Metis, all partners can enjoy a far higher level of liquidity for key use cases. For example, Solend which is using it for margin trading, where the trading amount is often much larger and requires deeper liquidity.

On the backend, we are constantly upgrading the API and making incremental improvements to deliver an easier, smoother and more efficient liquidity infrastructure for our partners.

Shared Intermediate Token Accounts For Integration Simplification and Cost Savings​

The idea of Shared Intermediate Token Accounts came about because there was an increasing number of intermediate token accounts to be created in order for a swap to be successful, which increased integration complexity and cost for users that needed to be addressed.

Previously:

• Integrators needed to create every single intermediate token account before integrating and obtaining quote routes, to make sure that the swaps were executed without any disruption. Any token accounts that were missed out would lead to swap errors.

• In Solana, an account rent fee is incurred for every Solana account to store data on the blockchain. With a large number of intermediate token accounts to be created per protocol, users incur a sizable amount of rent.

With the Shared Intermediate Token Accounts, Jupiter creates and maintains a set of Associated Token Account (ATA) contracts for intermediate token accounts. These shared accounts are global and shared among all protocols and partners integrated with Jupiter. Integrators now only need to ensure they have the final output token account to receive tokens for every swap.

On top of this, OpenBook Open Orders accounts are no longer required as well, because all orders accounts are also globally initialized and shared amongst integrators.

For instance, when swapping from Token A → Token B → Token C, instead of having to create accounts for Token B and Token C, integrators will only need to set up for the final out token (Token C in this case). Any intermediate tokens in between, regardless of the number of token hops, are automatically initialized and managed by Jupiter’s pre-established shared token accounts.

Creating individual token ATA accounts incurs account rent fees, which accumulate over time due to the growing number of intermediate tokens. With fewer intermediate token accounts required, users benefit from not having to incur account rent fees for maintaining their individual token ATA accounts with each protocol they swap on.

We also see a much simpler integration process for partners and integrators, as the need to create and manage numerous intermediate token ATA accounts via route maps is eliminated.

Integrators can also better compose swap instructions that fit within a single transaction size limit, as the number of accounts to pass through in each instruction is streamlined with these shared ATA accounts.

Token Ledger For Increased Swap Success Rates​

It is very important to have a good swap success rate for a great experience for users as well as integrators. Token Ledger was developed because the common way of relying on simulation to facilitate swaps is not always reliable and can lead to swap failures especially during times of market volatility. A method that is based on actual amounts transacted, and combined into a single transaction is greatly needed, leading to the birth of The Token Ledger.

The Token Ledger is a collection of three instructions (Set Token Ledger, Send Instruction, Swap Instruction) that consolidate withdrawal and swap instructions into a single transaction. Integrators/partners can now effortlessly instruct a swap to be executed based on the actual sent amount, after taking into account fees and slippages.

Before the introduction of the Token Ledger, swap instructions relied on a simulation-driven approach to approximate the amount deducted from a user's wallet to facilitate the swap. This estimation approach often ended up with discrepancies between the estimated and actual amounts, especially during periods of market volatility with high slippages, leading to swap failures.

Consider this scenario where a user intends to withdraw 1,000 USDC from Meteora’s USDC vault into wBTC. Note that users hold vUSDC LP tokens in Meteora vaults.

1. In the first instruction, the Token Ledger will verify and record the user’s initial USDC balance within their wallet. For the purpose of this example, let’s assume the initial balance is 100 USDC.
2. In the second instruction, an amount equivalent to 1,000 USDC in vUSDC is withdrawn from Meteora vaults into USDC, and we examine the user’s balance. Due to factors like slippage, the USDC balance is found to be 1090 USDC.
3. For the third instruction, subtracting the initial 100 USDC from the current 1090 USDC balance, it’s evident that the user has effectively withdrawn 990 USDC, which will then be utilized to swap for wBTC as the final output token.

Without the Token Ledger, the previous swap method relied on estimated amounts, which could fluctuate due to market volatility and performance variations, frequently resulting in suboptimal user experiences.

With the Token Ledger, integrators can issue swap instructions based on actual amounts that have taken into account slippage and related fees. This eliminates the need for simulation and significantly increases the success rate of swaps, all within a single transaction.

The Token Ledger caters to a wide range of use cases, which include but are not limited to:

• Withdrawing assets from a protocol to any desired token, such as converting to USDC from a wBTC vault.
• Supporting protocols that transition positions to a different token from their original position, as seen in Perpetuals.
• Facilitating the exchange of NFTs for tokens other than SOL.

Read more about the Token Ledger: https://station.jup.ag/docs/v6-beta/swap-api#using-token-ledger-instruction

Referral Fees Program to Simplify Fee Collection​

In our pursuit of making life easier for our partners, we've streamlined the process of charging referral fees with the new referral fees program.

In the past, setting up referral fees for our partners was not straightforward. Distributing referral fees to Referrer A and Jupiter required adding two more accounts to the instruction. It was also challenging to accommodate varying percentages of referral fees for different partners, needing to pass more accounts into the instruction to calculate these fees.

The motivation behind building the referral fees system was to automate the process of calculating all these fees, while providing a user-friendly interface to set up referral accounts and claim the referral fees collected.

Referral Fees System Features​

• Set up referral accounts with Jupiter via a simple interface requiring only a few clicks.
• Only 1 single referral account is needed across the different Jupiter products.
• Checking on the total fees collected across the token accounts with an easy button to claim them

The partner journey is now hyper easy - They head over to Jupiter, create a referral account, and then plug the referral account parameters into their integration. It's that simple!

Give our dashboard a spin here: https://referral.jup.ag

Read here on how to add your platform fees to Jupiter Swap : https://station.jup.ag/docs/v6-beta/adding-fees

More info on Jupiter Referral Program: https://station.jup.ag/docs/additional-topics/referral-program

Performing Advanced Swaps with Jupiter v6​

Cross Program Invocation (CPI) & Flash-fill​

The Cross Program Invocation (CPI) and Flash-fill are two approaches to integrate Jupiter swap with your protocol. In Jupiter v6 API, we have made CPI calls much easier to use by turning transaction payload into instructions for API users.

CPI Approach​

To better understand how to swap via CPI, let us walk through an example of utilizing Jupiter Swap via CPI to swap from any tokens to SOL even if the user has insufficient SOL.

For CPI to work, the transaction will be composed of these instructions:

1. Borrow enough SOL from the program to open a wSOL account that the program owns.
2. Swap X token from the user to wSOL on Jupiter via CPI.
3. Close the wSOL account and send it to the program.
4. The program then transfers the SOL back to the user.

Read more here: https://station.jup.ag/docs/v6-beta/cpi

The CPI approach is not without its limitations - because of Solana’s transaction limit of 1232 byte size, lookup tables cannot be used within a CPI call, swaps via CPI can fail at runtime since Jupiter routes may involve multiple DEXes in order to reduce price impact. Instead, we recommend taking the “flash-fil” approach to utilizing Jupiter Swap.

Flash-Fill Approach​

The “Flash-fill” approach is a way to integrate your program with Jupiter swap without the limitations of CPI. Flash-filling allows the use of Versioned Transactions in combination with Address Lookup Tables to include more accounts per transaction while keeping within the 1232 bytes limit.

To understand the Flash-Fill approach, we will walk through the same example of utilizing Jupiter swap via Flash-Fill to swap from any token to SOL even if the user has insufficient SOL. Note that Flash-Fill can facilitate swaps from any token to any token, not limited to SOL.

For Flash Fill to work, the transaction will be composed of these instructions:

1. Borrow enough SOL from the program to open a wSOL account that the program owns.
2. Create the wSOL account for the borrower.
3. Swap X token to wSOL
4. Close the wSOL account and send it to the borrower.
5. Repay the SOL for opening the wSOL account back to this program.

This approach entirely bypasses the need for CPI calls, effectively sidestepping the constraints imposed by CPI.

To delve deeper into these two approaches, check out our documentation here: https://station.jup.ag/docs/v6-beta/flash-fill

Partners Using v6 API​

A big shout out to our key early adopters for running our v6 API and helping us improve our stability and features. Check out how they are using Jupiter to power their use cases.

• Drift leveraged swaps utilise the power of “flash loans” to allow traders to increase their spot buying or selling potential by up to 5x. These leveraged swaps are powered by Jupiter, to find the best price routes and get access to deep liquidity across Solana.
• Solend Margin Trading is an extension of their lending where it combines flash loans, swapping, and depositing the proceeds back into Solend all in a single transaction. The trading view features a swap UI powered by Jupiter.
• Birdeye is an on-chain trading data aggregation platform that utilize Jupiter Swap for all SPL tokens including the latest Token2022. With the latest v6 upgrade, it offers more improved speed that enhances trading experience on Birdeye.
• Hawksight integrated Jupiter v6 for their auto-swap deposits, making it super easy for users to maximise yield through auto-compounding and auto-rebalancing their LP positions efficiently.
• Ultimate Wallet integrated Jupiter into their native in-wallet swap. With the upgrade from v4 to v6, Token2022 is fully supported and the latest Metis algorithm expanded the price routes, enabling their users to swap over the widest range of tokens and access even better price quotes for their users.
• Sphere is a payments platform and API for digital currencies, where businesses can start accepting card, ACH, wire, stablecoins, and other digital currencies in a single universal checkout page. Jupiter provides the swap infrastructure for the built-in token swap.
• Sollinked is a social app designed for gated communities, offering a platform for newsletters or "paid" email inboxes that can be prioritized through incentives. Sollinked utilizes Jupiter to facilitate payments for emails and reservations using all SPL tokens.

Day 1 Ending Notes​

Jupiter’s goal is to provide the best possible liquidity infrastructure for Solana.

With this major v6 upgrade, we are confident we have taken a major step in this direction. As always, we would love feedback and your thoughts on how we can improve, please join our feedback conversations on Discord!

Day 2 - Jupiter for Payments v2​

Today, we are thrilled to dive into the world of Jupiter for payments, where we will introduce you to the upgraded ExactOut API. Join us as we delve into the improvements we have made to our ExactOut API, and how we have been facilitating online and offline payments in recent months.

A big shout out to Sollinked, CandyPay, Sphere and Helio for integrating Jupiter swap into their payment systems. These are super exciting times as we break down the barriers separating the world of crypto from traditional finance.

So, without further ado, let's get started!

ExactOut v2 API to Power Payments​

ExactOut is an important feature, particularly in supporting payment use cases within any ecosystem. Jupiter's ExactOut API allows users to specify the precise amount of output tokens they require, with the input token amount being calculated accordingly. For instance, with ExactOut integrated, a protocol’s user can indicate they wish to receive exactly 100 USDC in exchange for SOL via Jupiter, instead of having to manually calculate and input the amount of SOL required to swap for an approximate amount of 100 USDC.

In the initial release of ExactOut v1, we could only support direct routes, limiting token selection and routing options that can be used. However, in Jupiter v6 API, our program has been updated to conduct on-chain calculations, thus enabling multi-hop routes for ExactOut v2.

This upgrade significantly broadens the range of supported routes from around 20 to over 400 trading pairs, enhancing route options and price selections. With 20 times more available price routes, aggregated across our partner platforms like Raydium and Orca, users can expect considerably better prices for their ExactOut swaps.

How ExactOut is used​

ExactOut is particularly useful in scenarios involving the purchase of NFTs, allowing users to make payments with any tokens they possess. To illustrate, let's consider a situation where an NFT Marketplace has integrated ExactOut on its platform. You wish to buy your favorite NFT which is priced at 40 SOL, but most of your liquid assets are in BONK. Without ExactOut, you would need to estimate the amount of BONK required to obtain 40 SOL and manually swap on an external platform to convert BONK into SOL.

The good news is that since the NFT Marketplace has integrated ExactOut into its interface, you can simply purchase the 40 SOL NFT and Jupiter swap would automatically calculate the most optimal amount of BONK required to purchase the 40 SOL NFT. This is achieved in a single click, eliminating the need to leave the site or perform additional calculations, while ensuring that you receive the best possible price through Jupiter. This is extremely important to Solana as payments are a crucial part of bridging crypto with real-life applications, ultimately contributing to the mainstream adoption of the Solana ecosystem.

Read more about ExactOut here: https://station.jup.ag/docs/v6-beta/payments-api

ExactOut Showcase #1 - Sollinked​

Sollinked is a social app designed for gated communities, offering a platform for newsletters or "paid" email inboxes that can be prioritized through incentives. Sollinked utilizes Jupiter to facilitate payments for emails and reservations using all SPL tokens.

See how Sollinked users make payments with various SPL tokens to bump up their newsletters and emails, even though payments are primarily denominated in USDC. This is possible through the integration with Jupiter ExactOut.

ExactOut Showcase #2 - CandyPay Coffee​

Candy Pay has integrated Jupiter to power built-in swap transactions to facilitate payments in SPL tokens. Users can now make purchases with any token they have in their wallets.

Check out this demo of a user buying a cup of coffee priced in USD with their SAMO tokens. How cool is that!

https://twitter.com/JupiterExchange/status/1638799925348794369

ExactOut Showcase # 3 - Helio​

Helio, the leading payments app for Solana, powers sales for +3,000 creators & merchants who sell NFTs, digital content, e-commerce and more with the power of blockchain payments. Helio partnered with Jupiter to power seamless token swaps inside the Helio checkout flow. Buyers can spend SOL or any token, while merchants always receive USDC or their asset of choice.

"The future of commerce is based on lightning fast blockchain payments and one of the key advantages is that buyers can spend any token while merchants instantly receive their own currency of choice. Jupiter has abstracted the complexity of a DEX and given us a few simple lines of code to help us deliver on this promise" CTO - Jim Walker

ExactOut Showcase # 4 - Sphere Pay​

Sphere is an end-to-end payments API for digital currencies, offering on-ramp, multi-chain and fiat payments, to off-ramp in a single integration.

Sphere uses Jupiter to enable “universal settlement”, where customers can pay in whichever currency they want, and merchants will receive any currency of their choice — with Jupiter handling the ExactOut swap behind the scenes at the best possible rates.

Here is an example of how Sphere users can select to pay in any currency of their choice, with merchants receiving any currency they wish. Thanks to v6, these swaps are blazing fast, and shared ATAs and versioned transactions/lookup tables allow all of this to be bundled into a single transaction.

Ending Words​

With Jupiter providing the essential infrastructure support for payments, we see Jupiter playing an important role in helping support the payment and fees infrastructure of Solana.

If you have any feedback and product improvements, do feel free to swing by and share them on our Discord!

Day 3 - Jupiter Terminal v2​

Today we will be unveiling the brand new Jupiter Terminal V2! It is the smallest, fastest and easiest way to add Jupiter to your dApp with just a few lines of code!

A big shout out to Meteora, MarginFi, FamousFoxFederation and Bonk for being one of the early adopters of Terminal V2, seamlessly implementing swap functionality for their users without the need to navigate away from their pages.

In this update, we will go through key upgrades made for Terminal v2 to make implementing swap functionality for your dApp better, easier and just more fun:

• Terminal v2 is now equipped with the latest v6 API, featuring Metis
• Cross app state sharing with Jupiter Terminal
• Unified Wallet Kit integration
• Fee support for partners and integrators
• Improved UX enhancements

Let’s dive in!

What’s new in Terminal V2​

Terminal is a very popular way to integrate Jupiter into various platforms and applications, enabling protocols to seamlessly implement swap functionality for their users. It is also super easy to customize, from configuring input/output mint states, exact output mode, displaying tokens from Jupiter’s strict token list, all these are toggled on and off with just a few clicks to generate the code snippet.

Here are the details of what’s new in v2:

• Jupiter Terminal v2 is upgraded to v6 API that is running Metis, bringing to you the most powerful price quote engine for the best prices and best token selection, with the best user experience.

• We introduce cross app state sharing with Jupiter Terminal through the new syncProps() API function:

  • Starting with wallet Passthrough, syncProps() API will make sure your wallet states are always in sync, and Terminal can also callback to your dApp to request for wallet connection.
  • We are actively working on implementing cross-app state syncing for slippage, verTx, priority fees, as well as input mint and amount.

import { useWallet } from '@solana/wallet-adapter-react'; // Or @jup-ag/wallet-adapter;

const passthroughWalletContextState = useWallet();
useEffect(() => {
  if (!window.Jupiter.syncProps) return;
  window.Jupiter.syncProps({ passthroughWalletContextState });
}, [passthroughWalletContextState.connected, props]);

• Terminal v2 is using the Unified Wallet Kit - an open-sourced wallet adapter, that incorporates wallet standards and passthrough wallet capabilities. It seamlessly interfaces with many well used wallets out there, to give the best wallet experience for your users.

• Jupiter Terminal now offers fee support for partners and integrators. Partners can choose to enable platform fees on top of the swaps. To facilitate this, partners need to create token fee accounts to begin collecting platform fees. The Jupiter Referral Dashboard allows partners and integrators to monitor and claim these fees conveniently.

• We have also enhanced the user experience by implementing additional error and warning messages to guide users. There is now a built-in RPC monitor that notifies users of any RPC abnormalities or degradation in the Solana network.

Terminal Showcase​

Check out this mini showcase of how our partners have integrated Terminal to provide swap functionality for their users:

Terminal Showcase #1​

Meteora's mission is to grow liquidity on Solana by building dynamic liquidity protocols - including stablecoin liquidity, LST liquidity and multi-token pools. Idle capital is dynamically distributed to various lending protocols to earn additional yield on top of swap fees and rewards. Meteora’s keeper - Hermes will continuously watch lending pool utilization rates and reserve levels, ready to withdraw the funds for safety. Terminal v2 has been integrated on Meteora via the widget approach to let their users easily swap on-site for the required tokens to participate in liquidity provisioning.

Terminal Showcase #2​

FamousFoxFederation, an NFT and gaming project, offers raffles and sweepstakes to participate in their NFT events. Users are able to both auction and trade their NFTs through raffle events, as well as stand a chance to win NFTs through the sweepstakes. FamousFoxes has seamlessly integrated Jupiter Terminal into their raffle platform via the Modal approach to let their users stay on the site and effortlessly swap for the tokens required to buy the raffle tickets.

Terminal Showcase #3​

MarginFi is one of the leading lending/borrowing protocols in Solana. It offers users a comprehensive platform where they can seamlessly borrow, lend, and even stake SOL for LSTs – all within a unified environment. MarginFi integrated Jupiter Terminal via the Integrated mode, rendering the swap as part of its dapp, on a dedicated page. Their users can stay on the site to also swap their tokens on top of participating margin trading.

Ending Words​

Terminal v2 is like the magic wand for adding swap superpowers to your Solana dApp in the most hassle-free and elegant way. If you haven't given it a spin yet, now's the perfect time to unlock its awesomeness and inject some fun and additional functionality into your project!

https://terminal.jup.ag/

Day 4 - Unified Wallet Kit​

Today, we will be introducing the Unified Wallet Kit, which was born out of our desire to help developers build more easily on Solana, fast tracking through all the challenges we faced in trying to support the majority of the wallets out there and building a great wallet UI/UX.

Unified Wallet Kit is an open-sourced, Swiss Army Knife wallet adapter, striving for the best wallet integration experience for developers, and best wallet experience for your users.

Along with Terminal, it's the fastest way to get started on Solana.

Let’s learn how.

Unified Wallet Kit to make BUIDLing Easier​

To bootstrap a dApp with a wallet, we often find ourselves repeating the same setup, such as getting the various wallet adapters (both Solana Wallet Standard and custom wallets) installed, building notifications for wallet state (selected, connected, disconnected etc.), auto-reconnecting to the last connected wallet, adapting to a mobile-first responsive design, theming etc., over and over again.

This is our biggest motivation in building the Unified Wallet Kit - to have all these essential yet repetitive basic building blocks provided in a simple package that anyone can just plug and play.

Being one of the most used dApps on Solana, where we facilitate the majority of liquidity exchange in the ecosystem, we built our own world-class wallet adapter to support the majority of wallets for access to this liquidity. This wallet adapter includes all the important blocks mentioned above and more, to provide users with the best wallet experience.

Now, we want to give back to the developer community. We hope that by bringing our world class wallet adapter open-source, we will allow any developers to fast track and bootstrap their projects in no time!

Features of Unified Wallet Kit​

• Main ESM bundle at a compact 94KB (~20KB gzipped)

• Built-in Wallet Standard, Mobile Wallet Adapter support

• Abstracted wallet adapter, with a Bring Your Own Wallet (BYOW) approach where you can select the wallets your dapp wishes to support. This allows you to add custom and legacy wallets.

• Mobile responsive

• Smart notification system where you can either plug in your own notification system or use it by itself. This notification system does not interfere with your dapp.

• Internationalization with language support for English, Chinese, Vietnamese, French, Japanese, Bahasa Indonesia and Russian

• Theming - select from light, dark and Jupiter modes. More customisation to come.

• Pluralization for i18n

• New user onboarding

The Unified Wallet Kit will allow integrators to very quickly enable these features and let wallets connect to their dApps with only a few lines of code. It can’t get any easier than this.

Similarly with Terminal, the live playground is available at https://unified.jup.ag. Come swing by and check it out.

Quick Notes on Unified Wallet Kit​

1. Unified Wallet ships with WalletStandard and Mobile Wallet Adapter by default as we echo the push for the Wallet Standard specification. However any additional wallets or custom implementations can still be added easily with the Bring Your Own Wallet (approach) so that it does not bloat your dapp.

2. We understand that different dapps have their own notification implementation, therefore the notification system is optional and can be plugged in with your existing notification system.

3. The Unified Wallet Kit is currently used on Meteora, do give it a spin.

Ending Words​

Jupiter is dedicated to help make BUIDLing easier for everyone. Developers should have zero friction building on Solana, we believe that having this great developer experience is important to help attract even more brilliant people to come build together and drive innovation. This is just the beginning, and we are excited to introduce more open-source projects in time to come.

Let’s keep moving forward together!

Day 5 - Jupiter Gaming Unity SDK​

Today, we are excited to delve into the world of Jupiter for gaming, where we will look at how Jupiter has been facilitating in-game swaps and enabling gaming use cases through the integration with the Solana.Unity-SDK, developed by the talented team at MagicBlock. This post is brought to you in collaboration with MagicBlock.

Live Demo: https://magicblock-labs.github.io/Solana.Unity-SDK/

In this post, we will learn about:

• Why Solana is the major blockchain for on-chain games
• Solana.Unity-SDK and its main features
• Jupiter’s role in supporting gaming, use cases that the Jupiter x Solana Unity SDK powers, and a partner showcase

Before anything else, a big shout out to Star Atlas, Guac,Genopets, DefiLand and FamousFoxes for integrating Jupiter and enriching the gaming experience of their users, by providing a seamless and immersive swap experience.

Without further ado, let’s dive in.

Solana, the major blockchain for on-chain gaming​

On-chain games are introducing a paradigm shift in the way players interact, own and experience new forms of entertainment. It’s no surprise Solana stands out as a major blockchain for on-chain gaming, thanks to its high throughput, low transaction fees, and robust ecosystem. Its ability to process thousands of transactions per second ensures that gamers experience minimal latency, creating a seamless and enjoyable gaming experience.

Furthermore, Solana’s vibrant community and extensive developer tools make it an attractive platform for game developers of all sorts, from those looking to infuse their game with on-chain assets to the ones pushing the boundaries with fully-on-chain games.

Solana is also designed to be interoperable with other blockchain networks. This means game developers can easily add Solana-based games to other blockchain platforms, allowing for seamless user experience.

As the gaming sector grows, Solana is poised to take the lead in on-chain gaming over all the other chains.

Solana Unity SDK and its main features​

MagicBlock, the team behind the Solana Unity SDK, is an end-to-end infrastructure provider for on-chain gaming on Solana, empowering developers to create a new category of composable and permissionless gaming experiences.

The Solana Unity SDK simplifies the integration of Solana-based NFTs, tokens, and on-chain programs into Unity games, making it easier for game developers to create web3 games and experiences.

Some features of Solana.Unity-SDK:

• Full JSON RPC API coverage
• Transaction and message decoding/encoding from base64 and wire formats
• Non-custodial Solana wallet setup in Unity, supporting Solana Wallet Adapter (Phantom, Backpack, Solflare...) and Web3auth (Social login)
• TokenWallet object for sending and receiving SPL tokens and JIT provisioning of Associated Token Accounts
• Additional capabilities include NFT support, compiling games to xNFTs (Backpack), native DEX operations (Orca, Jupiter), and websockets for custom events, along with Solana Mobile Stack support

With the Unity-SDK game developers can easily create seamless onboarding flows with wallets, social authentication and gasless API. Now, they can also provide a seamless trading experience with Jupiter swap!

Give the SDK a spin here: https://github.com/magicblock-labs/Solana.Unity-SDK

Jupiter x Solana.Unity-SDK Native Integration to Power Gaming​

As the liquidity infrastructure of Solana, Jupiter provides the best rates and deep liquidity from across the ecosystem. This is important in gaming contexts where gamers trade in-game assets frequently, especially rare assets that are very valuable. The best prices and higher liquidity makes it much easier for the gamers to stay within the game to trade these assets, improving the overall gaming experience.

Jupiter is natively supported in the Solana.Unity-SDK and runs the v6 Quote API and ExactOut v2 API for the best swap prices.

The integration features:

• Utility methods to easily retrieve tokens information, get swap quotes and perform swaps. Game developers can easily integrate Jupiter swaps in their games and compile cross platforms without changing a single line of code.
• A native integration that ensures a smooth and uninterrupted game experience for the players where users can exchange assets from the game UI, without annoying popups or embedded iframes.
• Furthermore, you can effortlessly combine Jupiter with other instructions through the SDK, such as Session Keys, which eliminates the need for manual transaction approvals and ensures uninterrupted gameplay.

This integration caters to a wide range of use cases, which include but are not limited to:

• Marketplace purchases
• In-game payment with any coin
• Asset swaps
• Gamified trading experiences

Ready to include Jupiter into your game? Check out the docs here: https://docs.magicblock.gg/SolanaUnitySDK/guides/jupiter

Showcase - DeFi Land​

DeFi Land is a multi-chain agriculture-simulation game created to gamify Decentralized Finance. While there are games that make use of the blockchain, DeFi Land takes DeFi as a whole and aggregates the various actions that can be taken on each DeFi platform and turns them into an interactive game that can be played.

Check out how Defi Land has integrated Jupiter to power their in-game Market, taking the entire experience of DeFi swaps to the next level.

DeFi Land is built with the Unity Engine 2021.2.1 and uses the IDexAggregator interface in the SDK to create their Market.

The interface provides convenient methods for performing swaps and accepting payment - while working seamlessly on any platform. Most notably, DeFi Land is also available as xNFT where players directly leverage Backpack to perform in-game swaps, powered by Jupiter.

Ending Words​

Jupiter is Solana's liquidity hub, offering the best prices and deep liquidity, strongly supporting diverse use cases and enhancing the gaming experience. We believe that Solana is the best place for web3 gaming, with amazing infrastructure support from teams like MagicBlock with their Solana Unity SDK, the perfect foundation for game development.

We can’t wait to see the brilliant game creations of the builders of Solana!

This marks the end of our inaugural Jupiter Planetary Developer Week. It was an amazing week of developer focused updates where we unveiled the spanking new v6 API with Metis for routing, Referral Fees System for easy fee management, ExactOut v2 for Payments, Terminal v2 for the easiest way to integrate Jupiter, Unified Wallet Kit for the best wallet integration experience and showcasing Jupiter for games. We are committed to making things easy for you to create awesome liquidity use cases.

All these just in time for the Breakpoint Conference happening next week! Thanks for following through all days of our massive update, we hope you had supercharged your BUILDling journey with us.

Come talk to us and join our upcoming talks at Breakpoint

In an important step towards building the most powerful and usable set of spot trading features in DeFi, we are thrilled to announce that Jupiter DCA is now officially launched! After many rounds of rigorous testing and user feedback, we have incorporated a ton of improvements based on valuable suggestions and ideas from partners and users to increase platform stability and add more features.

Jupiter DCA Recap​

2 months ago, we launched the beta version of Jupiter DCA - a non-custodial, on-chain dollar cost-averaging solution to automate the purchase or sale of any token.

When you set up a DCA order, your chosen tokens get moved from your wallet to a special account owned by the DCA program. Imagine it like putting your tokens in a vault. The first order happens right after you create your DCA, and then more orders come in at the times you pick. So, if you're DCA-ing 1,000 $USDC into $SOL every day for 10 days, the first 100 $USDC -> $SOL order goes through when you start, and you'll have 9 more daily orders to go.

Key use cases for DCA include:

1. Bear market accumulation
2. Bull market profit taking
3. Splitting up large orders
4. Exiting low liquidity tokens

To ensure the best price execution, DCA keepers use Jupiter and also perform price checks against an external price data provider i.e. Birdeye. In addition, to prevent people from querying and hijacking the order right before the order is about to be executed, orders have a + 2 ~ 30 seconds variability.

Upgrades From Beta​

• Advanced Pricing Strategy: Introducing Min/Max parameters for users to define a precise, user-defined executable price range. This gives users more control over their investments and helps them avoid buying or selling at unfavorable prices.

• Expanded Tradable Tokens: Now offering access to over 600 tokens listed on the Jupiter Strict Token List, giving users a significant increase in token selection from the initial Top 20 tokens.

• Any-to-Any Token Trading Pairs: Enabling trading between any-to-any token pairs for more diverse trading options.

• Metis Algorithm Implementation: Leveraging the Metis algorithm for enhanced routing and improved pricing.

• Increased Global Upper Limit: We have increased the global upper limit for a single DCA order from $5,000 USD to $20,000 USD. This change offers users more flexibility for a wider range of use cases.

• Enhanced Default Slippage Rate for Improved Order Fulfillment: The default slippage rate has been adjusted to 10 basis points (bps) for an improved and better transaction fulfillment rate without disrupting the DCA flow.

• Enhanced Safety Mechanism with additional checks and warnings: Verifying scheduled date/time, token validation against the Jupiter Strict List, and issuing warnings for high price impact. Users can now see estimated price impacts for each cycle, and lower-cap tokens have more precise decimal market rates, with more warnings and banners to bolster the trading experience.

Advanced Pricing Strategy​

One of the most eagerly requested additions from our users and partners is the introduction of a Min/Max parameter or Advanced Pricing Strategy, addressing the need for precise control. This feature is implemented at the contract level, empowering users to define a minimum price for selling and a maximum price for buying within their DCA orders, adding an extra layer of control for more precise order execution. This strategy ensures order execution within a user-defined price range. If the price falls outside the range during the execution, Jupiter will reattempt to fill your order at a later time till successful, while also enforcing our randomiser at a later time so your trade remains unpredictable.

The example above sets both the minimum and maximum prices for the DCA order to be executed.

• Minimum price - $19
• Maximum price - $20

So in this scenario, if the SOL price is within $19-$20, the DCA will execute the order, and if it falls below or pump above the range, Jupiter will retry at a later time to try to check with the price, and if it is within the user-defined range, Jupiter will attempt to execute the order while enforcing our randomiser so your trade remains unpredictable.

Expanded Tradable Token Selection​

Additionally, we've significantly broadened our range of supported tokens, expanding from the top 20 traded tokens on Jupiter's list to encompass over 600 tokens. This expansion is backed by the community-verified Jupiter Strict Token List.

Any-to-any token trading pairs & Metis Algorithm Implementation​

In line with our extensive Metis-powered enhancements, DCA now effortlessly enables trading between any-to-any pairs with improved routing and pricing efficiency.

Metis, our powerful routing engine, dynamically operates on a vast scale. It optimizes routes by splitting and merging input and output tokens, ensuring the best prices for even more complex trades. This enhanced efficiency opens doors to a broader range of intermediary tokens while keeping costs minimal, just a fraction of a cent.

Minimum Frequency and Maximum Cycle Settings​

Introducing settings that allow for a maximum duration of one year to meet specific trading needs.

We have a suggestive text that explains each min and max frequency for each iteration, this will make the frequency input feel more natural and it will always show the frequency error message if input falls out of bounds or when the wallet is not connected or no input value.

• Minute → 2 - 1440 minutes (~ 1 day)
• Hour → 2 - 168 hours (~1 week)
• Day → 2 - 30 days (~1 month)
• Week → 2 - 52 weeks (~1 year)
• Month → 2 - 12 months (~1 year)

Join us!​

These measures collectively strengthen the safety and effectiveness of Jupiter DCA, enhancing your experience while reducing potential risks. Your trust and feedback propel us forward, and we are committed to refining and expanding DCA's capabilities. We are dedicated to providing a seamless and secure environment for your DCA journey. Join us on this exciting path and stay informed within our active community. https://discord.gg/jup

Today, we’re introducing the key upgrades to Jupiter Limit Order, with features like any-to-any tokens trading, fee removal and enhancements that will elevate your trading experience and open up exciting new possibilities.

Let’s dive into more details:

Any-to-any Token Trading​

Responding to user feedback and demands, we're thrilled to unveil any-to-any token trading within Jupiter Limit Order. Unlike before, where it was restricted to specific base tokens like USDT, USDC, and SOL, this update leverages an upgraded Limit Order contract and Jupiter's latest routing algorithm to empower trading of any token pairs. This expansion broadens the scope, providing users with even more trading options and opportunities.

TradingView Chart​

Empowering your Jupiter Limit Order experience further, we've integrated our trading chart with TradingView, utilizing data from BirdEye. This integration offers a comprehensive TradingView chart within our platform, making it much easier to perform technical analysis and place limit orders with a few clicks through the interface.

It's important to note that while this integration offers exceptional functionality, some low liquidity token pairs might face limitations due to insufficient historical data.

Keeper/Taker guideline​

We are coming up with a comprehensive guidelines for users and developers interested in running their own keepers or takers, complete with example code. This initiative will empower more participants in the system to efficiently run and execute orders, potentially benefiting from order profit execution and positive slippage.

The taker code facilitates keepers in accessing, filtering, and sorting open orders on-chain based on price. Furthermore, keepers can gather quotes from the Jupiter Swap API to evaluate trade profitability. Notably, this integration also enables the merging of Jupiter Swap Instructions with Limit Order Instructions, streamlining execution.

This enhancement enables a broader group of keepers to participate in executing Jupiter Limit Orders, thus enhancing order execution and decentralization.

Check out GH Repo here

0% Fees for placing orders​

Considering all these updates, we're making a significant alteration to the fee structure: reducing Jupiter Limit Order fees to 0% for placing orders. This strategic move aims to encourage heightened usage of Limit Order. This not only encourages order placement but also improves order matchability with swaps as active orders increase. We are also working on a more streamlined referral fees structure for partners and integrators which we will be releasing more details in the upcoming developer-focused updates.

Your feedback is invaluable to us, and we're dedicated to refining your trading experience on Jupiter. These enhancements mark the beginning of an exciting journey. Our unwavering commitment to delivering even more remarkable features in the future remains steadfast. We encourage you to continue sharing your suggestions and feedback; your insights greatly contribute to our progress. Connect with our active community on Discord.

Join our Discord community

Lastly, we're excited to announce a series of trading campaigns, commencing with $SOL. As we align with the evolving ecosystem, we're gearing up to roll out campaigns in collaboration with our partners. Stay tuned for more updates and let's embrace the momentum together by placing those limit orders!

Trade now: https://jup.ag/limit/USDC-SOL

In order to maximize the adoption of LSTs (Liquid Staking Tokens) with users and protocols alike, we have integrated Sanctum into our routing system, allowing users to swap from xSOL-SOL with the best possible rates, regardless of trade amount.

This integration coincides with the formal launch of Sanctum and its reserve pool with over 200K SOL - meaning large amounts of xSOL can be immediately swapped for tokens like USDC via the pool and Jupiter.

Key Features of the Sanctum​

• Instant Unstaking: Leveraging Sanctum’s SOL reserve pool, users can instant unstake LSTs. Unlike traditional LST <--> SOL pools that fragment liquidity, Sanctum services every staked pool with one SOL pool, enabling every stake pool token to be accessible across DeFi.

• Improved Validators Experience: Validators can easily launch stake-pools-of-one by tapping into Sanctum's shared liquidity. This reduces concerns about sourcing liquidity and unlocks a substantial portion of staked SOL for use in Solana's DeFi ecosystem.

• Competitive Pricing: Sanctum routing provides a pricing edge for smaller stake pool tokens and transactions, shifting away from heavy reliance on liquidity provision to AMMs.

Three Main Functions on Jupiter​

• SOL - xSOL: Direct staking through Sanctum, allowing SOL deposits into stakepools, with users receiving corresponding LSTs.
• xSOL - xSOL: Support for LSTs trading, with partial support for various xSOL routes.
• xSOL - SOL: Integration with Sanctum enables instant unstaking and liquidity access for staked SOL.

Benefit To The Ecosystem​

LSTs have always held great potential for use by both users and DeFi protocols as a valuable source of yield. However, they've been hindered from mass adoption due to the challenge of instantly liquidating large LST amounts. Liquidity in standard markets is insufficient for large traders or liquidators who need rapid liquidity exit.

With this launch and integration, many of these problems are mitigated. Liquidators can now efficiently liquidate both small and large xSOL positions, leveraging Jupiter’s liquidity routes that include the Sanctum SOL reserve pool and other integrated liquidity sources instantly, with optimal prices and minimized price impact and slippage.

This unlocks LST adoption, introducing more tradable assets to Solana that can significantly increase TVL, unlock $9B in staked DeFi capital, and most importantly, enable protocols to maximize their capital efficiency and yield without typical cooldown or liquidity constraints. This pivotal step is a game-changer, and we eagerly anticipate the innovative products to be built upon this foundation.

Today, we are excited to announce Jupiter v3, which introduces Metis, a novel routing algorithm that further enhances our industry leading aggregator. Metis significantly improves route discovery for all pairs, substantially reduces slippage for large trades, and offers vastly improved scalability in preparation for upcoming Solana upgrades and new DEXs.

In order to be able to support Metis to run on Solana’s hyper fast blocktimes, we have also made major improvements to our backend infrastructure. In addition, we also introduce the Dollar-Cost Averaging beta, the testing of a new contract that removes the need for users to have intermediate token accounts, integrations of Limit Orders into our routing, the Jupiter space station and several new features that’s based on user feedback.

The upgrade, coming only a few months after v2, embodies our efforts to push the boundaries of Solana to offer the most powerful yet simple experience in all of crypto, and build a genuine CEX replacement to help with the inevitable migration to come.

This is obviously a mega update so let’s dive right in!

Metis​

Today, we introduce Metis, our new advanced routing algorithm, a heavily modified variant of the Bellman-Ford algorithm catered for the key requirements of offering best price routing at scale in a very dynamic operational space.

Key Features​

Incremental Route Building​

To find the best price, Metis streams the input tokens to incrementally build a route to split and merge at any stage. By generating the routes for each split iteratively one after another, we can also use the same DEX in different splits - allowing us to find routes with better prices with more complex trades.

Combine Route Generation and Quoting​

To improve the efficiency of the algo, we combine route generation and quoting into a single step, allowing us to avoid generating and using bad routes, which besides improving the efficiency, also allows us to use a larger set of tokens as intermediaries.

Future Proofing​

v2 runs fast when the total number of DEXs used is small since Solana limits us to use at most 4 DEXs in a swap (due to the account lock limit of 64). Future Solana upgrades will relax this limit and allow more DEXs to be used in a single transaction. In addition, we foresee the continued growth of the Solana DeFi ecosystem, which means there will be many more DEXs emerging.

With Metis, we are well equipped to be able to handle both these trends, since the algorithm is able to scale to include more DEXs in a route when account lock limits are increased, and can support more DEXs with only a modest increase in running time.

Infra Upgrade​

In addition, determining the cost per hop for various amounts of splits is obviously a major challenge, since there are many potential outputs for different amounts, including for vastly different liquidity venues like CLOBs and CLAMMs, and getting quotes from lots of AMMs is slow, which limited the scalability of the system. To resolve this, we embarked on a major infra upgrade to refresh quotes in parallel and in real time.

Performance Improvements​

The system has undergone rigorous testing over the past few weeks in production. At the same time, we have been benchmarking the performance of the algorithm. On average, Metis quotes prices that are 5.22% better than our v2 engine, with the improvements increasing sharply based on the trade size.

Powering Liquidity On Solana​

And of course, this kind of insanely powerful engine will be completely out of reach for the average user in most other platforms, given the high level of gas cost this will incur. On Solana, the cost to the user will remain small and miniscule.

In addition, an great routing engine is crucial for DeFi in so many ways - liquidations require single transactions for large amounts to be as efficient as possible, new DEXs need a fair chance to be leveraged for volume as the more established ones, and of course, we need to keep on pushing the limits of Solana, so more people understand how powerful shit can get!

DCA (Dollar-Cost Averaging)​

Secondly, we are also delighted to introduce our DCA Beta, a non-custodial, on-chain dollar cost averaging solution to automate the purchase or sale of any token.

How it works​

If you choose to use USDC 900 to buy SOL daily over 9 days, 900 USDC will be transferred from your wallet to the non-custodial program and executed over the next 9 days.

1. Your first order to sell 100 USDC for SOL will take place immediately at the best price available then.
2. Your second order to sell the next 100 USDC for SOL will take place approximately 24 hours after the initial order at the best price available then
3. Subsequently, 7 more orders will all take place approximately 24 hours after the previous order until the full DCA order has been executed.

Ease Of Use​

As with all Jupiter systems, we aim to make very complex transactions as simple as possible. You will automatically receive purchased tokens in your wallet within the same transaction of each order and a link to the blockchain transaction will be visible to you on jup.ag.

Also, during the last order of your DCA, any remaining tokens will be sent to you and all program related accounts opened for your DCA will be closed and the rent returned to you automatically.

Notes​

• To ensure best price execution, DCA keepers use Jupiter and also perform price checks against an external price data provider i.e. Birdeye.
• To prevent people from querying and hijacking the order right before the order is about to be executed, orders have a + 2 ~ 30 second variability.
• Note that there is a 0.1% keeper fee for DCA order executions, only taken upon successful completion.
• You can read more about key details like fees and technical implementation here
• For the Beta phase, we’re limited to trade only the Top 20 tokens, with a cap of $5,000 USD for each DCA order. We will progressively increase the number of support tokens and lift the order size limit as we move out of beta.

Limit Order Integration Into Jupiter​

At Jupiter, we aim to build the easiest limit orders in DeFi. Over the last couple of months, we have been steadily improving Jupiter limit orders behind the scenes, particularly on vastly improving the efficiency of the path discovery and order execution. Now, we are happy to share that Jupiter Limit Order has been integrated into Jupiter.

Jupiter will now compare Jupiter LO orders with the quoting engine quote price to provide users with the best possible price. This feature is especially useful for large limit orders, as they can be split, quoted, and filled by multiple Jupiter swaps. This improves the fulfilment of orders at the best price from both ends.

For example, there is a 20k USDC - RLB sell order here, being matched directly with one of the Jupiter Limit Order. Since this is the best price possible in the whole market, anyone will be able to take this order with zero slippage if they want to buy RLB.

We will continue to make major improvements to the limit orders over the next few months - improving it in terms of functionality, order discovery and usability. We cannot wait to make the easiest limit orders in DeFi even better than ever!

Jupiter Space Station​

Jupiter Space Station is a comprehensive resource for everything related to Jupiter, all in one place for easy access!

Our station includes:

• Statistics about Jupiter
• Guides to using Jupiter Products
• Development docs
• Integration guidelines
• List of partners

Open Contribution​

In addition, it is an open-source system that allows anyone to contribute. You can add your protocol to the partners page, create an ELI5 user guide, or report an error in the syntax. Contributing is easy - simply add a pull request to our GitHub repository and help us make Jupiter Station even better.

Here are some examples of how our friends and users have contributed so far:

• An insightful article authored by SolanaFM on how to verify transactions using block explorer.
• Sphere adding their protocol into the partners page.
• Enhancing our homepage with more content.

We will be constantly improving this page, in our quest to make this the all in one and most helpful resource for everyone. In particular, we will be adding a community section too, to share a lot more about how the community can contribute!

New Improved Features​

Jupiter v3 also features a number of smaller but important improvements based on user and developer feedback.

Feedback Mechanism​

We have a direct feedback channel on top of our Discord support. Whenever a transaction or swap fails, there will be a quick button that prompts a feedback form. This allows users to inform us of any issues they are facing. If you miss the toast message, you can find the feedback form on the bottom-right of the site. The feedback form goes directly to the team. If you require a prompt response, please reach out to us through our official Discord channel.

Fallback Mechanisms​

Aggregator works with a dozen DEXs and AMMs, and sometimes, DEX/AMM errors can cause certain routes to fail, resulting in the swap failing to go through. To improve this, our fallback mechanism will exclude any affected DEX/AMM causing errors in our trading routes and immediately refetch a new quote. Traders can then execute the new route and perform the swap without any issues. We have extended this mechanism to both Ver. Txn and Legacy routes to ensure a seamless trading experience for all our users.

Expanded Market Selection​

To optimise for a safer and more robust trading experience, we previously set a strict criteria for the pools and markets where we stimulate swaps between $250 worth of tokens, with no more than a 70% loss/price difference. In our latest update, we are also including tokens that have already had liquidity elsewhere, as well as markets with single-sided liquidity of $1,000 within 20% of market price.

Shared Intermediate Token Accounts​

We are testing a new contract that will leverage shared intermediate token accounts. The need for manually opening up intermediate token accounts has been a pain point for users given the initial setup cost and high number of potential swap failures. The new shared account feature streamlines the integration process and brings cost-saving benefits to partners and users alike.

Summary​

With v3, we carry on the 3 core Jupiter traditions:

• Upholding the JUP Promise (Best price, Best selection, Best UX)
• Pushing the limits and possibilities of Solana
• Introducing super easy to use, yet powerful features for the user

Again, nothing will ever be perfect or done, so your feedback is super important to helping us improve - the good, bad and ugly. We will work with everyone to ensure that no matter what, Solana will be home to the very best swap experience in all of DeFi and beyond.

After rigorous testing over the past few weeks, Token2022 is now officially supported by Jupiter! Fluxbeam has been integrated into our routing, and tokens like $BERN and $MOON can now be traded along with other tokens in the Solana universe.

Token2022 is a new token standard developed by Solana Labs that presents a superset of functionality provided by the standard SPL Token Library which includes transfer fees, interest bearing tokens, non-transferability, and immutability.

This enables new types of tokenomics to be developed. For example, $BERN leverages a 6.9% transfer fee to reward holders of $BERN and $BONK while Solarmoon leverages transfer fees to reduce supply and create deflationary tokenomics for $MOON.

With the large number of updates over SPL Token Program, we had to make significant upgrades to our backend, UI and aggregator program to handle both the standard token library and token2022 in one seamless UX. Most notably, we had to support transfer fees across the entire stack and update our crawler to recognize Token2022 tokens.

In addition, as Jupiter is deeply integrated across many major wallets and dapps — not all of whom support 2022 yet — it was important for us to break this work out into a separate token list API as not to affect existing partners.

It’s important to note that Token2022 is currently still undergoing development and auditing. In addition, as features like transfer fees make it more difficult for integrators to adopt, we recommend sticking to the standard token library unless there is a strong need for those specific features.

To understand more about the standard, you can refer to these resources:

• https://spl.solana.com/token-2022
• https://twitter.com/KEMOS4BE/status/1663960214637539329
• https://twitter.com/heliuslabs/status/1671551473950531585

We are really excited to support Token 2022 standards and can't wait to see the amazing things that projects cook up with these new possibilities. To a greater Solana platform!