Jupiter Exchange Acquires SolanaFM, Launches Mobile App for Seamless Token Swaps

23 de setembro de 2024 BACK TO NEWS

Jupiter Exchange, Solana’s largest decentralized trading platform, has announced its acquisition of SolanaFM, a prominent blockchain explorer, as part of a strategic effort to enhance its data and infrastructure capabilities for the Solana community. This move comes alongside the planned release of a mobile application that will facilitate token swaps using Apple Pay, Google Pay, and credit cards, all with zero fees.

Enhancing Functionality and Infrastructure

In an X post on September 20, Jupiter Exchange expressed optimism about the acquisition, asserting that it would significantly improve its system and data capabilities. The SolanaFM team also reassured users that the platform will continue to operate normally while supporting Jupiter’s growth potential.

Founded in 2021 by three students from Singapore Management University, SolanaFM has made a name for itself by providing detailed insights into transaction histories, smart contracts, and token information on the Solana blockchain. The platform has garnered significant financial backing, including $4.5 million from a seed funding round led by SBI Group’s Digital Asset Opportunity Fund in 2022, with participation from notable investors such as Zee Prime, Spartan Capital, and K3 Ventures.

Major Updates at Breakpoint Conference

During the annual Solana conference, Breakpoint, Jupiter Exchange announced several key updates aimed at improving the trading experience on the platform. Among these updates is the launch of the Metropolis API, designed to streamline development on Solana by introducing new token, price, and swap APIs. Additionally, the Jupiter RFQ (Request for Quote) feature is expected to boost liquidity by enabling market makers to provide pricing directly to the routing engine.

Jupiter also introduced a next-generation perpetual trading platform that will include features like limit orders, gasless transactions, and an advanced Dove oracle system. These enhancements aim to make the platform more user-friendly and efficient for traders.

New Mobile App Launch

In a bid to attract new users to the Solana ecosystem, Jupiter is set to launch Jupiter Mobile, an app that will allow users to perform token swaps easily. The app will support payments through Apple Pay, Google Pay, or credit cards, and will not impose any platform fees, making it an attractive option for both seasoned traders and newcomers alike.

Addressing Security Concerns

The positive developments come on the heels of Jupiter’s recent warning to Solana users regarding a malicious Chrome extension named “Bull Checker.” This extension reportedly targeted Reddit users, particularly those active in Solana-themed subreddits, draining their wallets by adding unauthorized instructions to crypto transactions. Jupiter’s alert underscores the ongoing security challenges within the crypto space, reinforcing the need for users to remain vigilant.

Conclusion

The acquisition of SolanaFM marks a significant step for Jupiter Exchange in its mission to enhance the functionality and appeal of the Solana platform. With the introduction of the new mobile app and various system upgrades, Jupiter is positioning itself as a leader in the decentralized trading space, poised to attract a broader audience while addressing critical security concerns within the community.