Bybit, the world's third largest crypto exchange by volume, is set to list JUP, the native token of Jupiter, on the Solana network, on its exchange. Dubai, UAE, Jan. 26, 2024 /PRNewswire/ -- Bybit, the world's third largest crypto exchange by volume, will list JUP. In addition to debuting on the spot and derivatives platforms on January 31, the JUP token will play a crucial role in governing the Jupiter DAO, which is slated to become one of the most advanced models of decentralized governance.
There's no doubt that Bybit is one of the top 3 crypto exchanges in the world for spot and derivative trading, and also in terms of traffic, so it's the perfect place to launch one of the most anticipated tokens in the world. With some of the deepest liquidity in cryptocurrency, the JUP token will launch with the potential to allow for natural price discovery.
There is an official listing on Bybit planned for Jan. 31, 2024, 3pm UTC, and users will be able to withdraw JUP from Feb. 1, 2024, 10am UTC. Spot is planned to go live first with perpetual contracts going live one hour afterwards.
As Ben Zhou, co-founder and CEO of Bybit, explained, "The Jupiter project and its team underwent extensive due diligence, just as we do for every project listed on the platform. Jupiter's impressive handling of 65% of Solana DEX volume speaks volumes of its potential. In the dynamic world of DeFi, we believe that JUP will offer our users new opportunities."
Since it was launched in October 2021, Jupiter has played a major role in the DeFi space, handling a majority of Solana's decentralized exchange volume. Jupiter is Solana's first on-chain swap aggregator, offering minimal slippage and faster execution through its unique routing across multiple DEXs as a result of its unique routing across multiple DEXs.
There has been a series of successful airdrops in the Solana ecosystem which have contributed to the formation of a bullish trend in the final quarter of 2023, including the launch of the JUP token and the accompanying community airdrop.
It is expected that JUP's listing on Bybit will attract significant interest from both existing Solana enthusiasts as well as new investors seeking to diversify their crypto portfolios.
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Founded in 2018, Bybit is one of the top three cryptocurrency exchanges in terms of volume with more than 20 million users. In addition to the ultra-fast matching engine, 24-hour customer service, and multilingual community support, this professional platform offers crypto investors and traders a comprehensive platform to trade and invest in cryptocurrencies. In Formula One, Bybit is a proud partner to the Oracle Red Bull Racing team, the reigning Constructors' and Drivers' champions.
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