Since the launch of JLP, it has shown exceptionally strong performance and attracted a wide range of users. It is an important achievement for Jupiter in realizing the PPP concept.
Thanks to its well-designed model, both JLP holders (liquidity providers) and users can benefit. In the Solana ecosystem, meme coins have always been an essential factor. Perhaps we can create a model centered around a meme coin.
Let’s assume a name for it, such as JMP. The asset composition of JMP could consist of: USDC 15%, USDT 10%, WIF 15%, BONK 15%, POPCAT 15%, BOME 15%, and JUP 15%. Holders of JMP can receive 75% of the fees from perpetual trading.
1 we must acknowledge that meme coins have always been at the core of trading on Solana. Whether for Solana users or Jupiter users, we are in dire need of such a perpetual market. We are tired of trading these meme coins on centralized exchanges (CEX). Jupiter has done an excellent job in spot trading, and now it’s time to step up and create this market.
2 users need an opportunity to grow their capital, which means leveraging. With leverage, the market trading volume of JMP will be substantial, providing steady income for JMP providers and offering good liquidity for traders.
3 referencing JLP, injecting JUP into this market can bring additional purchasing power, increase JUP holders and buy-side demand, and empower JUP. Of course, I believe the most important point is that JUP is already the best Solana meme coin exchange. Now, why not make JUP the best Solana meme perpetual trading exchange as well?
Summary: The community’s attention is focused on airdrops, but I believe enhancing product competitiveness is the key to improving ourselves. JLP is already excellent and doesn’t need to change; however, it can no longer meet the growing demands of users. We need new trading pairs!
What requirements do you think would work for the memecoins? specific mcap?
Also not sure why they wouldn’t just extend the JLP to other memecoins instead of just making a new one
Currently, JLP is composed of assets such as BTC, ETH, SOL, etc., and its composition cannot be directly changed. This would be unfair to JLP users and difficult to implement. If we are to establish an asset primarily based on meme coins, I believe the focus should be on consensus and liquidity. Simply put, we must prioritize projects that have strong enough communities and sufficient liquidity. Therefore, I first considered the top meme coins by market cap on SOL. If the liquidity and market cap are too small, there could be a risk of price manipulation.
is there plan for more perps offered? i.e. bonk, wif , popcat ect?
Composing assets means supporting the trading of those assets. If JMP can be listed, JUP, WIF, BONK, POPCAT, and BOME can all be traded just like they are on JLP now. Imagine, we could trade JUP and meme contracts on JUP’s own platform—wouldn’t that be cool?
Actually make sense, concerned that those could also be manipulated.
i think that’s the idea of the post, to introduce them
Please please please implement so i can support Jup! been using drift for all these but would rather use jup.
Exactly, that’s right. Meme coins are so attractive that even those that have been tested by the market still experience significant volatility. However, I think this is actually a good thing for JMP. It means more transaction fee revenue and higher returns. At the same time, for traders, it offers greater potential. Meme coins can never fully avoid market manipulation (just think of Elon Musk’s influence on Dogecoin), so all we need to do is strike a balance.
That would give JUP a big buy