JUPITER AGGREGATOR
Think about the primary goal of every individual in the crypto space. No matter what activities are being carried out, no matter the product being built, even if is done out of passion, we all hope we eventually profit from it.
Now suppose a protocol is being built for the sole aim of helping individuals maximize profit from their trades and also provide users with tools and top-notch information (alphas). If such protocol or products come out working very well, it would win the hearts of the majority of folks in the crypto space.
Jupiter aggregator is the best swap aggregator on Solana.
As someone that has been in the crypto space for a long time, I have certainly carried out several activities, and using different protocols on various chains or ecosystems is part of it. After a few days of using Jupiter aggregator, I would conclude that it has some unique features which I haven’t seen on any exchange or DEX yet. I will go ahead to review this protocol, giving a step-by-step process onboarding and also emphasizing concluding thoughts.
WEBSITE
First of all, because this protocol is on the Solana network, it is necessary to have an SPL wallet installed on the browser you are accessing the site from. Once you click on connect button in the top right corner, you will see a list of compatible SPL wallets you can use. Download and install one. I am using the phantom wallet extension as you can see in the icon on the top right corner of my browser. Just like Smart chain Network that will require you to use $BNB and Ethereum Network, $ETH, you will be required to fund your wallet with $SOL to cover up your gas fees for transactions.
Again, I want to commend the UI/UX designers and developers for putting simplicity into consideration when building the website. A simple site doesn’t imply it has very few functionalities. There are so many things one can deduce from the website. One of the most basic things is the dark theme for people who don’t like too much brightness from their screens.
The first thing that caught my attention when I visited the site was its slogan or quote. The search bar on the top left corner looked weird at first until I decided to search myself. The first distinct thing is that one could perform a trade and swap by just typing the amount of the asset you want to trade with the name of the asset ‘to’ the asset you want to swap to.
Before swapping, the algorithm searches for the best price at the moment with the best route being displayed. A list of all routes is being displayed for one to choose from with the DEX. I have only seen such on some major protocols like Zapper and DeBank which are available on other chains and not on any DEX on Solana yet. This is a very good source of information for people who scalp and do arbitrage trading.
Scalping is a trading strategy in which traders profit off small price changes for an asset.
Arbitrage is trading that exploits the tiny differences in price between identical assets in two or more markets.
As I kept staring at the different rates for a while, I was observant enough to notice that even though there is a refresh button on the site which helps get the latest changes in price when it is clicked, the different swap rates refresh automatically after 20 seconds.
The team members of a good project always have it at the back of their minds that they have to constantly find ways to keep improving despite making waves at the moment.
Looking at the top right corner, the next option after Trade is Get Alpha and this is where it becomes very interesting.
I had to go to Solscan to compare the trending tokens I saw on the page and I also took a screenshot at almost the exact time.
I couldn’t get the coins/tokens specifically on the Solana ecosystem on Coingecko because it shows the trending tokens/coins for all chains at the same time and that’s another aspect that makes Jupiter aggregator outstanding. The #share-alpha-here channel on their discord is an interesting place on the server. Being active will help you keep in touch with alphas being shared daily which you could take advantage of to help improve your crypto portfolio.
On the stats page, you can see the trading volume is displayed in which the chart shows the volumes for past days selecting the daily timeframe, past weeks selecting the weekly timeframe and the same applies to selecting the monthly timeframe. You can also get to see the total number of routings used, total transactions, and the unique wallets that have traded for the selected period.
Scrolling down the page, you also get to see the top 10 trading pairs, top 10 tokens, top 10 buys, top 10 sells, and top 8 pool providers on the protocol with their trading volumes attached concerning the selected timeframes.
The screenshots below show the top trading pair, top token, top buy, top sell, and top pool provider at the time of writing this.
CONCLUSION
It is very clear that Jupiter aggregator has built and integrated useful tools that are helping traders presently make more accurate decisions. I believe this is just the beginning and the team has more to offer beyond what we see.
In addition to this and as a project that launched not long ago, I am thrilled by the milestones they have hit lately based on community growth, social media followings, and the insane trading volumes they are having on their protocol. It shows that people are interested in seeing them thrive because they are solving one of the most common problems not only in the Solana ecosystem but in the crypto and blockchain space as a whole.
