JupUSD (JUPUSD) stablecoin analytics
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JUPUSD
JupUSD is Jupiter's bid to own the dollar layer on Solana — 90% backed by Ethena's USDtb (which itself holds BlackRock's BUIDL fund shares) with a 10% USDC buffer, custodied by Porto/Anchorage Digital under a GENIUS-compliant framework. A peg score of 99 and a DEWS reading of just 1 — the lowest stress score in this batch — reflect a product that has launched cleanly, though the absence of tracked DEX liquidity suggests JupUSD circulates primarily within Jupiter's own ecosystem rather than the broader Solana DeFi market. The plan to convert JLP's USDC holdings into JupUSD is as much a revenue play as a product launch: every dollar moved from USDC to JupUSD redirects reserve yield from Circle to Jupiter's ecosystem. The dependency chain runs JupUSD → USDtb → BUIDL → actual Treasuries — three layers between holder and government bonds, each adding operational risk while the underlying asset remains pristine.
Detailed stablecoin analytics coming soon...
