As a seasoned crypto investor with over a decade of experience navigating the digital asset landscape, I find the recent acquisition of SolanaFM by Jupiter Exchange to be a promising development for the Solana community. Having witnessed the rapid growth and potential of Solana since its inception, I am confident that this strategic move will significantly bolster Jupiter’s data and system capabilities, ultimately leading to an improved user experience.
As a crypto investor immersed in the Solana universe, I’m excited to share that the dominant decentralized trading platform, Jupiter Exchange, has recently absorbed SolanaFM – a renowned Solana blockchain explorer. This merger signifies a significant stride forward, blending the best of trading and exploration on the Solana network.
The parties characterize this action as a means to expedite progress in their data and technical infrastructure, aiming to enhance their features for the benefit of the Solana community.
Optimism About the Acquisition
On September 20, a blog post from the cryptocurrency exchange was released, announcing their acquisition with great enthusiasm. They explained that this move would significantly enhance their data and system abilities by approximately ten times.
According to their official statement regarding the acquisition, the SolanaFM team assured users that operations on the platform would carry on without interruption, all the while boosting the capabilities of Jupiter.
The exploration company was established in 2021 by three students from Singapore Management University (SMU). Since then, it has been offering comprehensive analysis of transaction records, smart contracts, and token details within the Solana blockchain.
Moreover, it has garnered substantial support, to the tune of $4.5 million during a seed funding round held in 2022. The SBI Group’s Digital Asset Opportunity Fund spearheaded this round, with additional investments coming from Zee Prime, Spartan Capital, K3 Ventures, and other notable contributors.
Additionally, the platform received unspecified seed funding at its start, part of which came from Ethereum browser Etherscan and cryptocurrency wallet service Coinhako.
Jupiter Announces Key Updates
At another location, during the yearly Solana gathering known as Breakpoint, Jupiter revealed significant upgrades. Among these updates was the rollout of the Metropolis API, a tool built to simplify development on Solana by introducing new token, pricing, and swap application programming interfaces (APIs).
One significant enhancement we’ve made is the implementation of the Jupiter RFQ, or Request for Quote. This feature is designed to boost market liquidity as it enables market participants to offer pricing directly to our trading system.
As a researcher delving into this intriguing field, I had the opportunity to witness the unveiling of their cutting-edge perpetual trading platform for the next generation. This innovative platform promises to deliver a range of exciting features including limit orders, gasless transactions, and an advanced Dove oracle system – elements that are expected to significantly enhance user experience.
Alongside these advancements, Jupiter is preparing to launch Jupiter Mobile – a user-friendly application aimed at welcoming newcomers into the Solana network. This app enables users to effortlessly exchange tokens via Apple Pay, Google Pay, or credit cards, all without any platform charges being incurred.
The positive news comes on the back of Jupiter’s recent warning to Solana users about a malicious chrome extension draining their wallets.
The extension referred to as “Bull Checker” was reportedly designed to affect Reddit users, particularly those involved in Solana-related subreddits on the social media site. According to Jupiter’s warning, Bull Checker had capabilities to insert commands into regular cryptocurrency transactions, enabling it to transfer funds to a different wallet.
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2024-09-23 00:38