Overview
- The raise is Jupiter’s first external funding after years of bootstrapped growth.
- The $35 million was settled entirely in JupUSD at spot with an extended JUP token lockup.
- Reporting indicates the deal nearly doubled JupUSD’s circulating supply, which is primarily backed by USDtb linked to BlackRock’s BUIDL via Ethena.
- Jupiter said the proceeds will fund core Solana infrastructure for execution, liquidity routing, and composability rather than short-term incentives.
- Coverage notes warrants for additional token purchases were included, while ParaFi had not issued a public statement and the lockup duration was not disclosed.