Solana based on Decentralized Exchange Jupiter releases its own stablecoin, Jupusd, by the end of the year.
The coin will be native to Solana and is strictly integrated into the entire Jupiter ecosystem, including Perpetuals platform, lending markets, and trading interfaces, the Dex Shared with X on Wednesday.
Jupusd has been developed in collaboration with the Etha Labs, known for reducing more than $ 16 billion in Stablecoins through their project.
Stablecoin is fully cultivated by the USDTB of the Ethana Labs, a stablecoin supported by treasury funds including USD Institutional Digital Liquidity Fund of Blackrock (Biddle).
The team plans to add USDE as a second asset backbone, aimed at boosting potential yield.
Wise contracts that allow Jupusd’s mininting and redemption are being built, Jupiter said, with many auditing awareness in advance of the launch.
Jupiter, a Solana based on the Decentralized Exchange Aggregator who has since expanded its offerings, currently has $ 3.58 billion in the total amount locked according to DefillamaIt makes it the leading protocol in Solana.
