Solana-based DEX Jupiter Acquires SolanaFM, Announces Major Updates at Breakpoint Event

• At the Solana Breakpoint event in Singapore, a notable announcement shook the crypto community.
• The partnership aims to significantly enhance data and infrastructure capabilities on Jupiter.
• “By joining forces with Jupiter, we’ll focus on 10x-ing the data and infrastructure capabilities on Jupiter,” SolanaFM revealed in a recent X post.

Jupiter strikes significant acquisitions to bolster its data and trading capabilities.

Major Acquisitions and Focus on Data Enhancement

The co-founder of Jupiter, Siong Ong, revealed at the Solana Breakpoint event that the decentralized exchange aggregator Jupiter has acquired SolanaFM, a blockchain explorer. This acquisition is pivotal as SolanaFM had previously raised $4.5 million from SBI Group in 2022. SolanaFM provides its users with advanced capabilities to access and interact with Solana data through its indexer and explorer tools. The strategic acquisition is anticipated to amplify Jupiter’s data and infrastructure potential significantly.

Expansion Through Coinhall Acquisition

Jupiter is broadening its reach by acquiring Coinhall, a leading aggregator on the Cosmos blockchain. Coinhall, known for its on-chain trading terminal, facilitates swaps across decentralized exchanges on both Solana and Cosmos blockchains. With over 225,000 users across 23 chains, Coinhall’s integration into Jupiter is expected to enhance the trading experience and accessibility for a broader audience.

New Developments and Product Launches

During his keynote speech, Ong announced several upcoming updates aimed at enhancing user experience and expanding Jupiter’s ecosystem. Among these updates is the launch of Jupiter Mobile, a mobile application developed in collaboration with MoonPay. This app will allow users to engage with Jupiter’s platform via Apple or Google Pay without incurring platform fees, streamlining the transaction process for mobile users.

Introduction of Ape.Pro and Metropolis API Platform

Jupiter is set to upgrade its memecoin trading platform, Ape, with the launch of Ape.Pro. This upgrade will enable users to trade and mint memecoins seamlessly on mobile devices using social logins. In addition, Jupiter is unveiling its own API platform named Metropolis. Metropolis aims to provide a comprehensive suite of liquidity APIs, consolidating token, price, and swap API needs into a single, unified platform for developers. This development promises to offer a more cohesive and extensive set of tools for liquidity management.

Conclusion

The strategic acquisitions of SolanaFM and Coinhall, coupled with the introduction of innovative products like Jupiter Mobile and Metropolis API platform, mark a significant evolution for Jupiter. These developments are set to enhance the platform’s data infrastructure and trading capabilities, providing users and developers with advanced tools and a seamless experience. The continuous growth and expansion initiatives underscore Jupiter’s commitment to becoming a pivotal player in the decentralized exchange space. Readers should keep an eye on Jupiter’s upcoming launches as they promise to bring substantial improvements to the crypto trading landscape.