Solana
Solana DEX Jupiter Unveils Key System Developments, JUP Price Resumption Coming?
Solana DEX Jupiter founder “meow” recently turned to X, shedding light on crucial technical updates related to DEX Basic system. In a post shared by the founder today, May 8, it was highlighted that the Jupiter community has been working diligently on many fundamental backend overhauls to improve user engagement on the platform.
Here’s a closer look at these developments, which promise to improve user experience and hold potential for DEX’s native token, JUP, sparking investor optimism.
Developments planned for the Solana DEX
As noted in the founder’s message, planned developments include a host of upgrades aimed at optimizing user efficiency on Jupiter. Additionally, these developments will extend beyond those listed below.
Criminal latency
Focusing on reducing latency, improving availability, and improving the robustness of perpetual contracts is a critical part of this technical upgrade. This involves reducing the time required to execute actions related to perpetual contracts and increasing the resilience and availability of the platform for users.
Refine the token search
Whereas, given the increasing number of tokens available in the market, it becomes essential to improve the search functionality, mainly to help users quickly find the tokens they are interested in. On this subject, the upgrades aim to introduce filtering, searching, and sorting of coins to the platform.
Routing
This involves rapid integration of tokens and markets into the DEX’s routing engine and auto-sliding engine while improving issues related to transient false routes, Meow added.
Security and convenience
Furthermore, finding the right compromise between transaction security and user convenience also remains a key objective of these technical upgrades.
Token Lists
The creation of a new list of tokens powered by data as well as the community, a factor highly emphasized by the founder of DEX, is also looming.
Meanwhile, despite the founder’s unveiling of the above-mentioned developments, the price of JUP has seen a notable decline.
Read also: Ethereum Price: Whales Move 150,000 Coins Amid ETH Retreat, What’s Next?
JUP price sheets
At the time of writing, the JUP token has fallen by 5.42% over the past 24 hours and is currently trading at $1.08. The token’s market capitalization fell by 5.40%, followed by a 45.10% drop in 24-hour trading volume. This bearish turn has mainly triggered mixed sentiments on the future price movements of the token.
Nonetheless, with remarkable technical improvements underway as noted above, the JUP token remains poised for significant potential gains ahead. It is also worth mentioning that Solana fell 4.61% in the last 24 hours and is currently trading at $146.83, in line with the JUP’s fall.
Read also: Here’s How FTX Will Use Excess Cash to Repay Bankruptcy Victims