The conference, which featured a feline theme and was held this past weekend in Istanbul, revealed some future plans for Solana’s Jupiter swap app.
Jupiter’s colorful founder, meow, made news for enabling protocol fees which will result in token buybacks. The company is also launching an AI fund of $10 million with AI startup Eliza Labs, as well as multi-blockchain networks that will expand beyond Solana.
But the most interesting announcement — to me at least — came when Jupiter said it had taken a majority stake in Moonshot, a memecoin app that Donald Trump directed buyers to use during his memecoin launch.
Jupiter has a killer feature: its trade interface. It routes users’ transactions across DEXs in order to get the best price. Jupiter offers the best value for money when users swap one Solana token with another. Dune Dashboard shows that 39% Solana DEX Trades are done through Jupiter. Jupiter has no competition when it comes to DEX Aggregation.
Jupiter has hinted at greater ambitions since a long time. It announced in May its massive unified markets project, which would bring onchain all types of assets and index them using Jupiter. Though GUM is a hot topic, the majority of Solana’s blockspace remains occupied by memecoins. Jupiter therefore took a major stake in Moonshot.
Moonshot is an easy-to-use memecoin. Moonshot received a significant boost after the TRUMP memecoin website directed users there. This rocketed Moonshot to the top of the App Store finance charts. Moonshot has not yet confirmed if the Trump campaign made any sort of agreement with them. Jupiter’s source also refused to provide any comment about the Moonshot agreement.
Jupiter benefits both experienced and novice memecoin users by acquiring the majority of Moonshot. Jupiter also collects a 0.1% charge on the default swap, which was previously free. These fees are used to purchase the JUP token of the platform, whose price briefly soared. Moonshot charges trading fees.
Plus, with Moonshot’s central role in the TRUMP memecoin launch, Jupiter may be getting not just a stake in an app but something much more important in these windfall days for crypto — a connection to President Trump.
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