ParaFi Puts $35 Million Into Jupiter at Spot, Paid in JupUSD

Overview

• Jupiter said ParaFi invested $35 million in JUP at the current market price with the transaction settled entirely in its stablecoin, JupUSD.
• ParaFi agreed to an extended lockup of JUP tokens, and Jupiter did not disclose the lockup duration.
• The $35 million settlement nearly doubles JupUSD’s circulating supply, which is primarily backed by USDtb collateralized by BlackRock’s BUIDL fund.
• Jupiter stated the capital will be directed to core onchain infrastructure on Solana rather than short-term token incentives.
• CoinCentral reported this is Jupiter’s first outside funding and that the deal included warrants for additional JUP purchases, while ParaFi had not yet issued a public confirmation.