At Solana Accelerate, Kash Dhanda, the self-proclaimed “cat herder” at Jupiter, announced Jupiter LEND, a revolutionary lending protocol set to launch on Solana in July 2025. Partnering with Fluid (@0xfluid on X), a top-tier DeFi protocol, Jupiter LEND aims to transform decentralized finance (DeFi) by offering unmatched liquidity and efficiency. Here’s what Jupiter LEND brings to the table, who Fluid is, and why this collaboration is a pivotal moment for Solana’s global unified market.
What is Jupiter LEND?
Jupiter LEND is a cutting-edge money market protocol designed to make crypto assets productive on Solana’s high-speed, low-cost blockchain. As Kash Dhanda emphasized, it’s “the most advanced money market on Solana,” offering:
- One-click deposits: Simplifies depositing assets for instant liquidity.
- High loan-to-value (LTV) ratios: Up to 90% LTV on SOL, compared to the industry standard of ~75%, allowing users to borrow more with less collateral.
- Ultra-low liquidation fees: Only 0.1%, a 100x improvement over typical 2.5–10% penalties, thanks to a bespoke liquidation engine.
- Competitive borrowing rates: Enabled by a vault protocol for cost-effective borrowing.
- Composable platform: Invites developers to build on its liquidity layer, fostering innovation.
The protocol features a two-layer structure: a liquidity layer that consolidates all liquidity for efficiency and a protocol layer with lending and vault protocols. Early access is open—users can scan a QR code or visit https://jup.ag/lend to join the waitlist. Posts on X reported a 13.5% surge in Jupiter’s token ($JUP) price post-announcement, signaling strong market enthusiasm.
Who is Fluid?
Fluid (@0xfluid), developed by Instadapp, is a leading DeFi protocol known for its innovative liquidity solutions. As Dhanda noted, “Fluid is a proven leader in DeFi,” with over $2 billion in market size and $900 million in active loans. Key highlights include:
- Top-tier performance: The #2 DEX and #4 money market on Ethereum, with $1.8 billion in total value locked (TVL) across Ethereum, Arbitrum, Base, and Polygon.
- Capital efficiency: Offers high LTVs and low liquidation penalties (0.1% for select pairs).
- Unified liquidity: Combines lending, borrowing, and trading into a single layer, inspired by protocols like Uniswap and Aave.
Fluid’s six-month collaboration with Jupiter ensures that Jupiter LEND’s technology is robust, scalable, and ready for Solana’s ecosystem.
Why This Partnership Matters
Jupiter, Solana’s top DEX aggregator since 2021, has facilitated over $2 trillion in trading volume and supports 7 million assets. By integrating Fluid’s liquidity layer, Jupiter LEND expands Jupiter’s vision of a DeFi “super app,” combining swapping, perpetuals, and now lending in one platform. This partnership:
- Drives liquidity: Fluid’s consolidated liquidity hub attracts more capital, as “liquidity begets liquidity.”
- Enhances efficiency: Dynamic risk isolation and no need to move funds for upgrades ensure a seamless experience.
- Fosters innovation: The composable liquidity layer allows developers to build unique DeFi solutions, positioning Jupiter LEND as a cornerstone of Solana DeFi alongside JLP.
Solana’s ecosystem, with its recent 36% price rebound, is primed for this leap. Jupiter LEND challenges existing lending protocols like Kamino Finance, offering superior LTVs and lower fees.
