Jupiter Lend launches public beta with over 40 vaults, $2m incentive

Jupiter has announced the launch of the public beta of its decentralized, non-custodial platform Jupiter Lend,  bringing an advanced aggregated onchain layer to the Solana ecosystem.

Summary

• Jupiter Lend is now live to bring the most advanced money market system to Solana.
• Lend launches in public beta after stress testing, audits and feedback.
• The platform lands with more than 40 vaults and $2 million in incentives.

Jupiter Lend public beta goes live with over 40 vaults and features a $2 million incentive program, the decentralized exchange aggregator said in an announcement on X. The big news is that Jupiter Lend on Solana comes with the native Jupiter token JUP as collateral, weeks after the private beta went live.

Developed in partnership with decentralized finance protocol Fluid, Jupiter Lend is targeted at transforming the money market on Solana (SOL). According to Jupiter (JUP), the new platform goes live after weeks of intensive testing, multiple audits and community feedback.

The JUP token was up 7% in the past 24 hours as it traded near $0.50.

What does Jupiter Lend bring?

Lend is a Solana protocol meant to simplify lending and borrowing, and Jupiter has significantly increased borrowing caps to offer this functionality. The platform also features an increase in assets and combines isolated vaults powered by the oracle platform Pyth Network.

Users can now tap into yield, borrowing and lending at highest loan-to-value ratios, lower liquidation penalties and risk. Lend also allows users to redeploy assets to efficiently earn from them.

Apart from the Jupiter Perpetuals Provider token JLP, the platform will support stablecoins, including Circle’s USDC, Tether’s USDT and Global Dollar. Lend also works with top wrapped Bitcoin tokens like cbBTC, xBTC, WBTC, as well as liquid staking tokens JupSOL and JitoSOL. 

Other features like multiple vaults allow for one-click leverage loops through Fluid’s flash-loan engine, while composability means users can borrow and instantly swap or trade perps right within the Jupiter protocol.