Solana-Based DEX Jupiter Acquires Majority Stake in Moonshot

Solana DEX Jupiter Strengthens Its Ecosystem with Moonshot Acquisition

The third-largest decentralized finance, or DeFi, protocol owned by Solana has acquired a majority stake in Moonshot, a self-custodial app that lets users buy memecoins using Apple Pay. The exact terms of the deal remain undisclosed, but acquisition marks a key milestone for Jupiter's growth in the DeFi space.

What is Moonshot? 

Moonshot is a rapidly growing platform, especially popular after the launch of the Donald Trump Official Trump (TRUMP) memecoin on January 18. The app, which started in July 2024, enables users to buy memecoins seamlessly via Apple Pay.

• App Ranking Surge: Prior to TRUMP’s coin launch, Moonshot was ranked 309th in the US App Store's finance category. After the launch, the app shot to the top spot.

• Impressive Growth: By January 20, Moonshot recorded $400 million in trading volume and 1 million daily active users.

Jupiter's Strategic Move Meow, Jupiter’s pseudonymous founder, shared the news of the acquisition on January 25 via X (formerly Twitter). Meow expressed excitement about the move, calling the Moonshot team "the smartest, most driven group of people" he's worked with.

• Integrating Moonshot: The acquisition will help Jupiter expand its presence in the growing memecoin market and integrate Moonshot’s fast-growing community into Solana’s DeFi ecosystem.

Additional Acquisition: SonarWatch Along with Moonshot, Jupiter also acquired SonarWatch, a portfolio-tracking tool. The acquisition will see SonarWatch's features and innovations being integrated into Jupiter's platform, with the standalone SonarWatch platform being phased out.

New Updates and Features on Jupiter On the same day, Jupiter announced several updates to enhance its platform:

• Ultra Mode: A new feature that automates key functions such as real-time slippage estimation, dynamic priority fees, and transaction optimization.

• Jupiter Shield: A security feature set to launch soon, aimed at improving user safety.

• Manual Mode Upgrades: New routing and broadcast options for more control over trades.

• New Trading Features: Limit orders and one-click trading have been added to Jupiter's perpetual side.

These updates are currently in beta and are expected to improve the user experience, making trading on Jupiter even more efficient and secure.

Conclusion 

With the Moonshot acquisition, Jupiter is strengthening its position in the DeFi space, especially in the memecoin sector. This move, along with the platform upgrades and SonarWatch acquisition, signals a bright future for Jupiter as it continues to innovate in the decentralized finance space.