https://img.inleo.io/DQmRNbZS9VZMXeS48amSu3quppawkk9Si5UrxU9uxJ456ds/1000234084.webp
Introduction
Jupiter, the largest decentralized exchange platform on Solana is adding new features to its protocol to make it better for everyone in the community. As many as 5 new updates or changes have been implemented to create a better user experience and onboard the masses.
Jupiter handles some of largest transactions on the solana blockchain. Its so popular among the community. The transactions include token swaps, staking, and discovering trending or hot assets. In this presentation, we want to look at each new feature or upgrade announced during Jupiter Breakpoint, to see how they elevated the functionality of this amazing project on the Solana blockchain. The entire Solana community are already excited about the new features, aren't they?
New API upgrades for developers
DAPP builders on Solana often rely on APIs to incorporate various blockchain data to their project. Jupiter already has some API for developers to use, but they have been vastly upgraded to include more data in a comprehensive formate for Dapps. In this new upgrade still accessible through Metropolis APIs, builders could have access to Token, Swap and Price APIs.
The token API is useful when a DApp needs to request data about any token from the blockchain. Such data includes creation date, name and tickers for a token. It also includes the market supply, top holders, daily trading volume and exchanges where the token is traded.
The price API is for pulling price data about a token from the blockchain. As a decentralized exchange, price is aggregated from various sources to bring the most competitive rates for the user. So all tokens on the exchange would have the best rates pulled from various places if the developer implements the price API.
The next API which has also seen an upgrade is the Swap API. When added to a project, users are able to exchange one token for another with so many pairs enjoying enough liquidity. The API also makes sure the best gas rates are provided for users for each token pair to be swapped. When developers implement this API and the two mentioned above, they are able to build DAppa that are both user-friendly and one with rich features for make onboarding as easy as possible. If you are a developer and wants to check out all the APIs, you could access them through https://api.jup.ag/metropolis
Jupiter RFQ for liquidity
Jupiter aims to be the biggest liquidity provider on Solana blockchain. They already have liquidity markets built directly on the exchange. Most liquidity providers bring their assets to Jupiter and provide liquidity. However, there are many liquidity providers from external markets that would like to provide liquidity without moving their assets to Jupiter. That is the essence of Jupiter Request For Quote (RFQ)
The RFQ will allow liquidity providers from any markets to participate in the Jupiter liquidity market while retaining their assets in whichever external platforms they are. With this for example, a provider whose assets are in Bybit exchange for example would be able to provide liquidity in Jupiter. In this way, Jupiter will have the largest liquidity markets when providers from all places are able to participate directly.
Jupiter Mobile
Another update is the brand new mobile app. Jupiter is trying to position itself as a pioneer of mass adoption of Solana blockchain, and thia app would be useful to.thay effect. The app is called Jupiter mobile. Its designed for the external markets, users from web2 platforms. The main aim of this app is to simplify the ease of using fiat to buy tokens on the Solana blockchain.
Jupiter Mobile will integrate well known payment processors like Google pay and Apple pay so that users could buy tokens through these mediums. And with credit cards remaining one of the most popular way to buy stuffs online, Jupiter mobile through Moonpay will allow users to purchase tokens using their standard credit cards. This is geared towards mass adoption for Solana. There should be a simple way to convert fiat to Solana tokens and that is what Jupiter Mobile will make possible.
Meme coin ecosystem
The meme coin frenzy is on and Jupiter is trying to revolutionize the experience both for creators and traders. This new upgrade is bring changes through ape.pro. This platform will allow users to easily trade any meme coins and also find a market to trade them. Its designed for mobile users who constitute the biggest market of of the Solana commumity. It will allow users to securely login using their social media profile, this simplifies the onboarding experience especially for new users.
The last feature is the Perpetual trading feature which has also seen a massive upgrade. Below are some of the changes to expect from this second version:
Perps V2 is launching with Limit Orders, a revamped Doves oracle for reliability, and Gasless transactions. Perps trading will be gas-free, with limit orders, and reliable whenever you need it. Coupled with $600M in JLP liquidity. source
Conclusion
If you are a fan of Solana blockchain, why not check out the features above and lets talk about the ones you like most
Note: Thumbnai is from pixabay
Posted Using InLeo Alpha