JupUSD

JupUSD is a Solana-native stablecoin created by Jupiter in partnership with Ethena Labs, designed to maintain a value of one US dollar. It is intended for users within the Solana ecosystem who want a dollar-denominated token for trading, payments, or other on-chain activity without exposure to price volatility. It does not pay yield to people who hold it, so it is purely a medium of exchange rather than an income-generating instrument.

JupUSD lives on the Solana blockchain and is issued through Ethena Labs' Stablecoin-as-a-Service infrastructure, meaning new tokens are minted when reserves are deposited and destroyed when they are redeemed. The reserves backing each token consist of USDC and USDtb, where USDtb is itself backed by tokenized US Treasury exposure held under an institutional custody arrangement and issued within a GENIUS-compliant licensed framework. Because JupUSD inherits Solana's consensus and settlement rather than running its own, it has no independent block time or consensus algorithm of its own.

JupUSD does not accrue yield to holders and the data provided contains no fee stream attributable to the protocol, so there are no fee-based measures such as revenue or fee yield to report for this asset. The circulating supply stands at approximately 42,915,844 tokens at the point-in-time recorded, and the stablecoin circulating figure from stored metrics shows approximately 42,953,988 tokens, with 100% of supply already issued and a negligible 0.000537% pending. Stablecoin circulating supply has decreased by roughly 7.87% over the last 30 days, which reflects changes in minting and redemption activity rather than any fee or revenue dynamic.