Abdul manan
@abdulmanan
UPITER EXCHANGE: i. What is Jupiter Exchange? : In the Volatile World of Crypto there are many tokens that arose every day and the Solana Token is one of them.The Solana DeFi Universe is expanding exponentially with its new tokens and Protocols with every day. The transactions for the Solana are pretty much in numbers and their gas fees for the each transactions is pretty much high. Jupiter Exchange is the best for the transactions of the Solana and its relative tokens. It is an exchange aggregator which provides the cheap transactions that happening Solana. ii. How Jupiter does actually works? : Jupiter is actually a decentralized system that built on Solana. This was created in October 21, 2021 by the group of people or the team known as Meow. Jupiter exchange helps the Solana for its transaction by creating cheaper routes for the transactions. This is how actually works is, For instance imagine booking the flight which is cheaper.
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Abdul manan
@abdulmanan
For to explain this, if you have to convert the Solana tokens to USDC. Jupiter Exchange will create a third party for this transaction like mSOL for this to happen. This transaction is much cheaper than the direct conversion from Solana to USDC. iii. Jupiter Token: Jupiter has no tokens until February of the year 2024 and came from the massive airdrop and by entering it just reached about the top 100 of Cryptocurrencies by the market cap all around the globe. Jup is a governess token that helps its members to have a stay in a platform direction and decisions. This includes liquidity, mint tokens and post genesis and voting. iv. Transaction Volumes of Jupiter: In just a year in 2022 there are about two million users of Jupiter exchange. Which is very high and cause the Jupiter exchange to be in the top hundred crypto currencies? • The Recorded Exchange of 24-Hour trading volume is $406 Million as it is reported by the Jupiter Aggregator on June 2nd 2022.
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