Overview
- Jupiter said ParaFi bought $35 million of JUP at the spot price, with the entire transaction to settle in its JupUSD stablecoin and the purchased tokens subject to an extended lockup.
- The company did not disclose the lockup duration, and multiple reports noted ParaFi had not issued its own public confirmation at the time of publication.
- Jupiter stated the capital will be deployed gradually to enhance core onchain infrastructure on Solana, including faster execution, improved liquidity routing, and greater composability.
- Using JupUSD for settlement nearly doubles the stablecoin’s circulating supply from an estimated $38.7 million, with the token primarily backed by USDtb collateralized by BlackRock’s BUIDL fund.
- ParaFi manages roughly $1.4 billion and has a record of Solana ecosystem investments, while Jupiter remains a leading Solana aggregator that previously reported more than $1 trillion in cumulative trading volume.