Today, let’s look into Jupiter’s tokens: JLP and jupSOL. Here, you can make that life-changing money by earning more than 70% using those tokens.
Have you ever wondered how to make money using JLP and jupSOL? Then, continue reading to understand the functions.
What is $JLP?
JLP stands for Jupiter Liquidity Providers. Liquidity providers are a vital component of trading. They are the source of the funds that keep the trades going. Liquidity providers enable Jupiter to offer trading services to traders without massive capital. Now, if you are holding $JLP, you can earn some fees from these trades. Now, here is a good news for JLP holders:
Source: X
Why? Your holding $JLP provides liquidity for traders. You are like a mini bank for Jupiter Perps users. To be a $JLP holder, you must buy $JLP, so how can you buy $JLP?
How to buy $JLP:
- Go to jup.ag.
- Connect your wallet.
- Choose Perps.
- Click on “EARN” that’s Degen and Earn.
- Ensure you click on Buy, then choose your payment method.
- Enter your buy amount.
- You’ll have your $JLP in your wallet in a few seconds.
So, how do you earn from holding $JLP? You get a share when Jupiter users pay fees to borrow and trade Jupiter Perps. As an A $JLP holder, you receive 75% of these fees. You can reinvest these fees into the ‘pot’ to earn returns. It is like compounding interest. What happens is that you can allow your money to increase and become more significant. $JLP is currently at $2.88. Here is a video guide on how to earn 75% of fees on Jupiter Perps:
Source: X
That’s not all. Reinvesting into the pot creates an annual percentage yield (APY), giving you yearly returns. As a trader or crypto enthusiast, you know it isn’t all rosy. So, what’s the risk here? Your earnings can slow down in your pot if trading is slow. That’s if people are trading less on Jupiter Perps. $JLP is not a stablecoin, so its value is not stable. Now, let’s talk about jupSOL.
What is $JupSOL?
$JupSOL is a liquid staking token (LST). It is a tokenized representation of $SOL coins staked on Jupiter’s validator. A liquid staking token is an asset representing staked tokens. LSTs are useful for stakers that need extra cash for trading activities. Well, $JupSOL is an essential token. It is currently at $146.99
Why is $JupSOL important?
The more SOL staked with Jupiter’s validator, the faster the transaction speed on a congested network. It speeds up order fulfillment for users.
Source: X
How does JupSOL work?
If staking rewards are 10%, 1 JupSOL becomes 1.10 SOL after a year. By holding JupSOL, you earn staking rewards. $JupSOL is risk free. When you buy and hold $JupSOL, you earn native staking yields on your SOL.
Conclusion
Jupiter tokens are all a means of making money. $JUP allows you to earn fees on Jupiter Perps trades. It gives you the option of reinvesting for more significant returns. $JupSOL enables you to earn staking rewards on SOL, which would help you grow your holdings over time. They are all tokens with potential returns, but it’s also good to research the risks involved.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
