Solana's vibrant on-chain ecosystem, with the largest aggregation protocol Jupiter, is preparing for an airdrop.

Recently, Solana has attracted market attention due to the price surge of the SOL token. Its on-chain ecosystem has also been active in seizing opportunities for growth. The largest aggregator protocol on the chain, Jupiter, announced the issuance of tokens and the integration of the USDC-native cross-chain protocol CCTP here in the past two days.

Jupiter Seizes Market Opportunities

What is Jupiter

Jupiter is a decentralized exchange founded on the Solana blockchain in 2021, offering the best trading prices and routes with a user-friendly interface. With a focus on providing a good user experience, Jupiter has attracted a significant number of users and has undergone three major upgrades to date.

Jupiter has become a key protocol on Solana. According to official statistics from Jupiter data, on October 31st, Jupiter handled a trading volume of approximately $44 million, accounting for about 41% of the total on-chain trading volume of Solana that day.

Airdrop Information

During the Breakpoint summit centered around the Solana ecosystem on November 2nd, the team announced plans to introduce decentralized perpetual contract products similar to GMX and stablecoin projects. They also revealed upcoming token issuance plans and a token distribution model where 40% will be allocated to the community, adding to the excitement within the community amid the Solana frenzy.

• Community: 40%

• Team: 40%

• Token Sale: 20%

As of now, the number of independent wallets that have used Jupiter is around 100,000. Users who have interacted with the protocol are encouraged to stay tuned for further updates.

CCTP Integration

The team announced yesterday on Twitter that they will integrate the native USDC cross-chain protocol, CCTP Cross-Chain Transfer Protocol, to provide Solana users with a safer and more convenient stablecoin cross-chain service.

USDC is the largest asset in the Jupiter protocol surpassing SOL in trading volume. In October of this year, the trading volume of USDC was around $500 million, compared to USDT's $150 million, making it the most commonly used asset in the protocol.

Jupiter v3 Update

Jupiter released its v3 product update direction at the end of July this year, introducing new aggregation trading algorithms and models. Key feature updates include:

• Metis Algorithm: Adjusts trading routes dynamically. Trades will automatically split and merge at any stage to optimize the path and can aggregate more DEX simultaneously with Solana updates. This will be more beneficial for complex trading scenarios.

• DCA Trading Protocol: Dollar-Cost Averaging is an order model that allows traders to buy and sell at an average cost over a period of time, similar to the TWAMM model, in an automated manner.

• Optimized On-Chain Limit Orders: The team will optimize the path for limit order trades, comparing them with their quote engine, treating limit orders as a trading path. If it is the best trading path, the order will be automatically filled.

Solana Gains Market Attention

SOL Price Surge

With the recent surge in SOL prices, market attention has once again turned to Solana and its ecosystem. According to CoinMarketCap data, SOL token has risen by 68% this month, currently trading at around $39.1.

Increasing Activity in Solana Ecosystem

In addition to Jupiter, other projects in the Solana ecosystem have released new updates:

• Phantom wallet launched Camera Mint, allowing users to convert photos into NFTs.

• Render Network announced its migration to Solana and introduced a new token model.

As a result, on-chain TVL has increased. According to DeFiLlama data, Solana's on-chain TVL has increased by 40% in the past two weeks, reaching $414 million, ranking eighth among all public chains.