# Jupiter — full corpus # LLM Wiki An open-source template for building LLM-powered knowledge bases, following [Andrej Karpathy's "LLM Wiki" pattern](https://gist.github.com/karpathy/442a6bf555914893e9891c11519de94f). You provide raw sources. The LLM reads them, writes structured wiki pages, cross-links everything, and maintains it over time. You never edit the wiki directly — you curate sources and ask questions. ## How It Works The system has three layers: ``` raw/ Sources you collect (articles, transcripts, notes, PDFs) wiki/ LLM-written & maintained pages (summaries, concepts, entities, syntheses) CLAUDE.md Schema that tells the LLM how to structure everything ``` Three operations drive the workflow: | Operation | Trigger | What happens | |-----------|---------|--------------| | **Ingest** | "ingest raw/my-source.txt" | LLM reads the source, creates a summary page, creates/updates concept and entity pages, adds cross-links, updates the index and log | | **Query** | Ask any question | LLM searches the wiki, synthesizes an answer with citations, optionally creates a synthesis page for novel insights | | **Lint** | "lint" or "health check" | LLM audits all pages for orphans, contradictions, missing links, incomplete sections, and low-confidence claims — fixes what it can, reports the rest | ## Quick Start 1. **Clone this repo** ```bash git clone https://github.com/YOUR_USERNAME/llm-wiki.git my-knowledge-base cd my-knowledge-base ``` 2. **Customize CLAUDE.md** for your domain - Update the Purpose section with your topic - Replace the placeholder tagging taxonomy with your own categories - Adjust confidence level descriptions if needed - Everything else (workflows, page formats, linking rules) works as-is 3. **Drop sources into `raw/`** - Text files, transcripts, articles, notes — any plain text - These are immutable once added; the LLM never modifies them 4. **Tell the LLM to ingest** ``` ingest raw/my-first-source.txt ``` The LLM will create summary pages, concept pages, entity pages, cross-links, and update the index. 5. **Ask questions** ``` What are the key differences between X and Y? ``` The LLM answers from the wiki, citing specific pages. 6. **Run health checks** ``` lint ``` The LLM audits the wiki and fixes issues. ## Directory Structure ``` . ├── CLAUDE.md # Schema — the LLM's instructions ├── raw/ # Your source documents (immutable) └── wiki/ ├── index.md # Master catalog of all pages ├── log.md # Append-only activity log ├── dashboard.md # Dataview dashboard (Obsidian) ├── analytics.md # Charts View analytics (Obsidian) ├── flashcards.md # Spaced repetition cards ├── summaries/ # One page per source document ├── concepts/ # Concept and framework pages ├── entities/ # People, tools, organizations, etc. ├── syntheses/ # Cross-cutting analyses and comparisons ├── journal/ # Research/session journal entries │ └── template.md # Journal entry template └── presentations/ # Marp slide decks ``` ## Enhancements This template includes several extras beyond the core wiki pattern: ### Dataview Dashboard (`wiki/dashboard.md`) Live queries that surface low-confidence pages, recent updates, concepts by tag, and pages with the most sources. Requires the [Dataview](https://github.com/blacksmithgu/obsidian-dataview) Obsidian plugin. ### Charts View Analytics (`wiki/analytics.md`) Visual analytics with pie charts, bar charts, and word clouds. Requires the [Charts View](https://github.com/caronchen/obsidian-chartsview-plugin) Obsidian plugin. ### Mermaid Diagrams Use Mermaid code blocks in any wiki page to create flowcharts, sequence diagrams, or concept maps. Native support in Obsidian and GitHub. ### Marp Slides (`wiki/presentations/`) Create slide decks from markdown using [Marp](https://marp.app/). Drop presentation files in this directory. ### Research Journal (`wiki/journal/`) Track your research sessions, experiments, or applied work with the included template. The LLM can reference journal entries when answering queries. ### Spaced Repetition (`wiki/flashcards.md`) Flashcards in the format used by the [Spaced Repetition](https://github.com/st3v3nmw/obsidian-spaced-repetition) Obsidian plugin. Ask the LLM to generate flashcards from any wiki page. ### MCP Server This repo works with Claude Code's MCP server capabilities. Point an MCP-compatible client at this repo and the LLM can read/write the wiki programmatically. ## Customizing for Your Domain The schema in `CLAUDE.md` is domain-agnostic. To adapt it: 1. **Purpose** — Describe your knowledge domain in one paragraph 2. **Tagging taxonomy** — Replace placeholder categories with your own (e.g., for a cooking KB: `cuisine`, `technique`, `ingredient`, `equipment`) 3. **Confidence levels** — Adjust the descriptions to match your domain's evidence standards 4. **Entity types** — Update the entity page description to match what entities mean in your domain (people, tools, companies, etc.) 5. **Journal template** — Customize `wiki/journal/template.md` for your workflow Everything else — page format, linking conventions, workflows, rules — is universal and works across domains. ## Example Domains This template works for any knowledge-intensive topic: - **Research notes** — papers, experiments, methodologies - **Book analysis** — themes, characters, author techniques - **Competitive analysis** — companies, products, market trends - **Course notes** — lectures, readings, key concepts - **Personal development** — frameworks, habits, book summaries - **Technical documentation** — APIs, architectures, design patterns - **Hobby deep-dives** — any subject you want to master ## License MIT --- title: "Knowledge Base Index" type: index updated: 2026-06-19 --- # Knowledge Base Index Master catalog of all wiki pages. Every page in the wiki must have an entry here. ## Concepts | Page | Tags | Confidence | Updated | |------|------|------------|---------| | [what-is-jupiter](concepts/what-is-jupiter.md) | jupiter, solana, aggregator | high | 2026-06-19 | | [swaps-and-aggregation](concepts/swaps-and-aggregation.md) | swap, ultra, routing | high | 2026-06-19 | | [limit-orders](concepts/limit-orders.md) | limit-orders, trigger | high | 2026-06-19 | | [recurring-orders-dca](concepts/recurring-orders-dca.md) | recurring, dca | high | 2026-06-19 | | [perps](concepts/perps.md) | perps, leverage, liquidation | high | 2026-06-19 | | [jlp](concepts/jlp.md) | jlp, liquidity, yield | high | 2026-06-19 | | [lend](concepts/lend.md) | lend, borrow, multiply | high | 2026-06-19 | | [jupusd-and-juiced](concepts/jupusd-and-juiced.md) | jupusd, juiced, stablecoin | high | 2026-06-19 | | [staking](concepts/staking.md) | staking, jupsol, asr | high | 2026-06-19 | | [jup-token-and-dao](concepts/jup-token-and-dao.md) | jup, dao, governance | high | 2026-06-19 | | [token-launch-studio](concepts/token-launch-studio.md) | studio, launch, dtf, lock | high | 2026-06-19 | | [fees](concepts/fees.md) | fees, costs | high | 2026-06-19 | | [security-and-safety](concepts/security-and-safety.md) | security, token-verification, risks | high | 2026-06-19 | ## Entities | Page | Tags | Updated | |------|------|---------| | [developer-apis](entities/developer-apis.md) | api, swap-api, integration | 2026-06-19 | ## Summaries | Page | Source | Key Topics | Created | |------|--------|------------|---------| | [docs-catalog](summaries/docs-catalog.md) | docs.jup.ag + dev.jup.ag | product map | 2026-06-19 | ## Syntheses | Page | Pages Compared | Created | |------|----------------|---------| | [trading-on-jupiter](syntheses/trading-on-jupiter.md) | swap/limit/DCA/perps | 2026-06-19 | | [earn-and-yield](syntheses/earn-and-yield.md) | JLP/Lend/staking/JupUSD | 2026-06-19 | ## Statistics - **Total pages**: 17 - **Concepts**: 13 - **Entities**: 1 - **Summaries**: 1 - **Syntheses**: 2 - **Sources ingested**: 122 (docs.jup.ag llms.txt: 1 index + 120 pages, + dev.jup.ag hub) - **High confidence**: 16 - **Medium confidence**: 1 --- title: "Fees Across Products" type: concept tags: [fees, swap-fees, perps-fees, costs] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-fees.md, raw/llms_txt_doc-fees-costs.md, raw/llms_txt_doc-swaps-orders.md] --- # Fees Across Products Fees differ per Jupiter product; this page collects the main ones (verify current rates in the live docs — they change). ## Swaps (Ultra) Instant swaps via [Ultra](swaps-and-aggregation.md) carry an **Ultra routing fee** (a small percentage, tiered by pair category, roughly 0–0.5%). Plus standard Solana network fees and any priority fee. Token-2022 tokens may have their own transfer fees. ## Limit / trigger & recurring - **Limit/trigger orders** — fee per the trigger product schedule (see [limit-orders](limit-orders.md)). - **Recurring (DCA)** — **time-based: flat 0.1%**; **price-conditional: Ultra routing fee (0–0.5%) + base fee (0.03–0.1%)** depending on pair category ([recurring-orders-dca](recurring-orders-dca.md)). ## Perps [Jupiter Perps](perps.md) fees: - **Base fee** — 0.06% of trade size on open and close. - **Price impact fee** — linear with trade size, plus an **additive** component when open-interest imbalance exceeds a threshold. - **Borrow/hourly fees** while a position is open (accrue to [JLP](jlp.md)). ## Earn products [Lend](lend.md) charges interest to borrowers (paid to suppliers); [JLP](jlp.md) value reflects fees/PnL rather than an explicit fee; [staking](staking.md) yields are net of validator commission. ## Network costs All Solana transactions pay low base fees + optional **priority fees** for faster inclusion — usually negligible vs trade size, but relevant for high-frequency DCA. Jupiter abstracts most of this in [Ultra](swaps-and-aggregation.md) and the [APIs](../entities/developer-apis.md). Rates here are point-in-time — always confirm in-app. --- title: "JLP (Jupiter Liquidity Provider)" type: concept tags: [jlp, liquidity, perps, yield, delta-neutral] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-jlp-overview.md, raw/llms_txt_doc-earn.md, raw/llms_txt_doc-delta-neutral.md, raw/llms_txt_doc-loans.md] --- # JLP (Jupiter Liquidity Provider) **JLP** is the token and pool that provides liquidity for [Jupiter Perps](perps.md) — the foundation of perps liquidity. Holding JLP makes you, in effect, the counterparty ("the house") to leveraged traders. ## How JLP generates yield - The pool holds a basket of assets (SOL, ETH, wBTC, USDC, USDT — mint addresses in `raw/`). - JLP earns from **trader fees and net trader losses** on Perps, plus the pool's underlying asset exposure. A share of perps fees accrues to the pool, increasing JLP's value over time. - Conversely, sustained **trader profits reduce** JLP value — JLP is a real, market-exposed position, not a fixed-yield product. ## Risks JLP holders carry the pool's **directional exposure** (its asset basket moves with the market) and **counterparty risk** vs traders. The price of JLP reflects the pool's net asset value and PnL. The docs are explicit that JLP can lose value. ## Strategies - **Delta Neutral** — a managed vault (powered by Neutral Trade) that **hedges JLP's directional exposure** to produce stablecoin-denominated yield — capturing fee income while removing market direction. - **JLP Loans** — borrow USDC using JLP as **collateral** while keeping JLP yield exposure (liquidity without selling). ## Earning vs trading JLP is the **earn** side of Perps: traders take leverage ([perps](perps.md)), JLP holders supply the liquidity and absorb the other side. Understand the coupling before depositing. Other yield products: [Lend](lend.md), [staking](staking.md), [JupUSD](jupusd-and-juiced.md) — compared in [earn-and-yield](../syntheses/earn-and-yield.md). --- title: "JUP Token & DAO" type: concept tags: [jup, dao, governance, voting, tokenomics] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-jup-token-overview.md, raw/llms_txt_doc-jupiter-dao-overview.md, raw/llms_txt_doc-voting.md, raw/llms_txt_doc-tokenomics.md] --- # JUP Token & DAO **JUP** is Jupiter's governance token and the coordination layer for the **Jupiter DAO**. ## The JUP token JUP is used for **governance** (voting on proposals) and earning **[ASR](staking.md)** (Active Staking Rewards) when staked and voting. The token overview covers the contract address, affiliated tokens, and where to trade JUP. **Tokenomics** documents supply, allocations, and emissions/unlock schedules (key for understanding sell pressure and incentives). ## The DAO & governance The **Jupiter DAO** governs protocol decisions. The model: 1. **Stake JUP** to gain voting power ([staking](staking.md)). 2. **Vote** on active proposals (working groups, grants, parameters, listings). 3. **Earn ASR** for staking + participating — rewarding active governance, not passive holding. Governance flows through **working groups and grants** that execute DAO-funded initiatives, with on-chain voting recording decisions. ## Why it matters - **Alignment** — ASR ties rewards to participation, encouraging an engaged electorate. - **Decentralization** — JUP holders steer Jupiter's direction (treasury, programs, listings). - **Utility** — beyond speculation, JUP has concrete governance + rewards utility. For holders deciding whether to stake: staking JUP earns ASR but commits to the governance process ([staking](staking.md)). Tokenomics/unlocks affect value — verify current numbers in the live docs. Not financial advice. --- title: "JupUSD & JUICED" type: concept tags: [jupusd, juiced, stablecoin, yield] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-jupusd.md, raw/llms_txt_doc-juiced.md] --- # JupUSD & JUICED ## JupUSD **JupUSD** is a **Solana-native, reserve-backed stablecoin pegged to the U.S. dollar** — Jupiter's own stablecoin, used across its [Lend](lend.md) and [earn](../syntheses/earn-and-yield.md) products. Key on-chain identifiers (from `raw/`): - **Mint** — `JuprjznTrTSp2UFa3ZBUFgwdAmtZCq4MQCwysN55USD` - **Program** and a **custodian** address holding the reserves backing it. Being reserve-backed means each JupUSD is intended to be redeemable against held reserves; as with any stablecoin, the peg depends on reserve quality and market confidence (de-peg risk exists). ## JUICED **JUICED** is a **yield-bearing token backed by JupUSD**. It earns: - **T-bill yield** (from the reserves backing JupUSD), and - **borrowing interest from [Jupiter Lend](lend.md)**. So holding JUICED is a way to earn "real-yield" denominated in a stablecoin, and JUICED can itself be used as **collateral** to borrow on Jupiter Lend. ## How they fit JupUSD is the stable unit of account; JUICED is the yield-bearing wrapper. Together they anchor Jupiter's stablecoin/earn layer, integrated with [Lend](lend.md) (borrow against JUICED, earn on JupUSD) and the broader [earn pillars](../syntheses/earn-and-yield.md). Stablecoins carry peg/reserve/smart-contract risk — not financial advice; verify current reserve attestations in the live docs. --- title: "Jupiter Lend" type: concept tags: [lend, borrow, earn, multiply, leverage] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-lending.md, raw/llms_txt_doc-borrowing.md, raw/llms_txt_doc-multiply.md, raw/llms_txt_doc-strategies.md] --- # Jupiter Lend **Jupiter Lend** is the borrow/lend money-market product: supply assets to earn yield, or post collateral to borrow — without selling your holdings. ## The products - **Earn** — supply an asset (e.g. USDC) into a market to earn lending yield from borrowers' interest. Withdraw anytime (subject to available liquidity). - **Borrow** — lock collateral (an onchain asset) and borrow against it (e.g. lock ~$10,000 of an asset, borrow 8,000 USDC). You pay interest over the loan term; repay to unlock collateral. Unlocks liquidity without a taxable sale. - **Multiply** — one-click **leveraged positions**: loop supply/borrow to amplify exposure to an asset (higher upside and liquidation risk). - **Strategies** — pre-built, often max-leverage positions on **pegged vaults** entered in a single click (e.g. stablecoin/LST strategies). ## Risk & liquidation Borrowing and multiply carry **liquidation risk**: if collateral value falls relative to the loan, the position can be liquidated. A **liquidation calculator** helps simulate risk before opening. Pegged-vault strategies are lower-volatility but not risk-free (de-peg, smart-contract risk). ## Collateral types Jupiter Lend supports a range of collateral including stablecoins, LSTs (e.g. [JupSOL](staking.md)), native staked SOL (borrow without unstaking), and tokenized equities (xStocks) — broadening what you can borrow against ([docs-catalog](../summaries/docs-catalog.md)). Lend is one of Jupiter's **earn** pillars alongside [JLP](jlp.md), [staking](staking.md), and [JupUSD/JUICED](jupusd-and-juiced.md) — compared in [earn-and-yield](../syntheses/earn-and-yield.md). Not financial advice. --- title: "Limit & Trigger Orders" type: concept tags: [limit-orders, trigger, conditional] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-limit-orders.md] --- # Limit & Trigger Orders Jupiter's **limit / trigger orders** execute a swap automatically when a price condition is met, rather than immediately at market like an [Ultra swap](swaps-and-aggregation.md). ## Two flavors The docs contrast a classic **limit order** with a **trigger order**: - **Limit order** — triggers on the **pool rate** between the two tokens; the **output amount is guaranteed** (follows pool pricing). Orders below market price aren't supported. - **Trigger order** — triggers on the **token's USD price or market cap**; **output is not guaranteed** (it prioritizes execution with minimal slippage), but supports **"Buy Below"** (orders below current market price) — more flexible conditions. ## How it works You set the target (a price/rate or USD/market-cap level), the amount, and an expiry. Jupiter watches and, when the condition is hit, executes the swap through its [aggregation](swaps-and-aggregation.md) routing — so you still get best-price execution at trigger time. Orders rest off the user's hot path until conditions are met. ## Use cases - Buy a dip / take profit without watching charts. - Enter/exit at a specific USD price or market cap (trigger orders). - Combine with [recurring orders](recurring-orders-dca.md) for systematic strategies. Fees and exact mechanics differ from instant swaps ([fees](fees.md)); see [trading-on-jupiter](../syntheses/trading-on-jupiter.md) to compare instant vs limit vs recurring vs perps. --- title: "Jupiter Perps" type: concept tags: [perps, perpetuals, leverage, jlp, liquidation] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-positions-collateral.md, raw/llms_txt_doc-markets.md, raw/llms_txt_doc-liquidation-mechanism.md, raw/llms_txt_doc-fees.md] --- # Jupiter Perps **Jupiter Perps** is a perpetual-futures exchange where traders take leveraged long/short positions and the **[JLP pool](jlp.md)** is the counterparty/liquidity — an LP-vs-trader model rather than an order book. ## Markets & positions - Supported markets center on major assets (e.g. **SOL, ETH, wBTC**). - **Long** a market uses that token as the underlying; collateral can be the token itself (default) or **USDC**. Shorts use a stablecoin basis. (See positions/collateral table in `raw/`.) - Open with leverage; the position's value tracks the oracle price of the underlying. ## Fees Per the perps fee schedule: - **Base fee** — 0.06% of trade size on open and close. - **Price impact fee** — scales with trade size (linear), plus an **additive** component when open-interest imbalance exceeds a threshold (discourages one-sided OI). - **Borrow/hourly fees** accrue while a position is open (funding-like cost paid to JLP). ## Liquidation Positions are marked against **oracle prices** ([oracles](#)); if collateral falls below the maintenance requirement, the position is **liquidated** to protect the JLP pool (the liquidation-mechanism doc details the threshold and process). Use stop-losses / monitor leverage to avoid it. ## Relationship to JLP Trader losses accrue to **JLP** holders and trader profits are paid from it — so JLP is effectively the "house." This coupling is central: understand [JLP](jlp.md) before LPing into perps. Perps share the broader perpetual-futures concepts (funding, margin, liquidation) covered generically in the perpetual-futures wiki; this page is the Jupiter-specific implementation. --- title: "Recurring Orders (DCA)" type: concept tags: [recurring, dca, dollar-cost-averaging, conditional] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-recurring-orders.md] --- # Recurring Orders (DCA) **Recurring orders** automate buying/selling on a schedule — Jupiter's dollar-cost-averaging (DCA) product — so you accumulate or distribute a position over time instead of in one trade. ## Two execution modes - **Time-based** — execute a fixed amount at a fixed interval (every N hours/days), classic DCA. Fee is a **flat 0.1%**. - **Price-conditional** — execute on a schedule **but only within an optional USD price range** on the trigger token (e.g. only buy while price is below X). Fees are an **Ultra routing fee (0–0.5%) + a base fee (0.03–0.1% depending on pair category)**. ## Why DCA - **Smooths entry/exit** — averages your price across time, reducing timing risk and the impact of volatility. - **Reduces price impact** — splitting a large position into many small executions avoids moving the market ([swaps-and-aggregation](swaps-and-aggregation.md)). - **Hands-off** — set it and let Jupiter execute each tranche automatically via aggregated routing. ## Setup Choose input/output tokens, total amount, amount per order, frequency, and (for price-conditional) the USD price range and duration. Jupiter executes each order through best-price routing at the scheduled time. Recurring orders complement [limit orders](limit-orders.md) (one-shot conditional) — DCA is repeated/scheduled. Compare all trade types in [trading-on-jupiter](../syntheses/trading-on-jupiter.md). --- title: "Security & Safety" type: concept tags: [security, safety, token-verification, risks] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-security-risks.md, raw/llms_txt_doc-token-verification.md] --- # Security & Safety Trading on a permissionless Solana aggregator exposes you to token and DeFi risks Jupiter helps surface but can't eliminate. ## Token verification Anyone can create a Solana token, and scam tokens imitate legitimate ones. Jupiter applies **token verification** signals — verified lists, warnings on unverified/low-liquidity tokens, and metadata checks — so you can tell a real token from an impostor before [swapping](swaps-and-aggregation.md). Always confirm the **mint address**, not just the symbol (symbols aren't unique). ## Common risks - **Scam / impersonation tokens** — verify the mint; beware lookalikes and "you received an airdrop" bait. - **Low liquidity / high price impact** — thin tokens mean bad fills and exit traps (rug pulls). Check liquidity and price impact. - **Smart-contract & peg risk** — DeFi products ([Lend](lend.md), [JLP](jlp.md), [JupUSD](jupusd-and-juiced.md)) carry contract, liquidation, and de-peg risk. - **New launches** — [Studio/DTF](token-launch-studio.md) tokens are especially high-risk; [Jupiter Lock](token-launch-studio.md) helps verify allocations aren't dumpable but doesn't guarantee a project. - **Wallet hygiene** — your keys control funds; phishing sites and malicious approvals drain wallets. Use settings to review and revoke. ## Practical posture - Verify mint addresses; prefer verified tokens. - Mind slippage and price impact on illiquid pairs. - Understand each earn product's liquidation/de-peg risk before depositing. - Treat new launches as speculative; size accordingly. Jupiter is non-custodial — you're responsible for what you sign. This wiki is educational, **not financial advice**. Security/settings details and the verification process are in [docs-catalog](../summaries/docs-catalog.md). --- title: "Staking: JupSOL, Native Staking & ASR" type: concept tags: [staking, jupsol, lst, asr, native-staking] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-jupsol.md, raw/llms_txt_doc-native-staking.md, raw/llms_txt_doc-active-staking-rewards-asr.md] --- # Staking: JupSOL, Native Staking & ASR Jupiter offers several ways to stake SOL and JUP for yield and governance rewards. ## JupSOL (liquid staking token) **JupSOL** is Jupiter's **liquid staking token (LST)**: stake SOL, receive JupSOL, and keep a liquid token that accrues staking rewards (its value grows vs SOL) while remaining usable across DeFi — e.g. as collateral on [Lend](lend.md) or tradable on [swaps](swaps-and-aggregation.md). Unstake to redeem SOL. LSTs let you earn validator rewards without locking liquidity. ## Native staking **Native staking** stakes SOL directly to validators from the Jupiter app (standard Solana delegated staking) — you keep a native stake account and its rewards. Jupiter also supports using **natively staked SOL as collateral** on [Lend](lend.md) (borrow without unstaking — keep earning staking rewards), and native staked vaults. ## ASR (Active Staking Rewards) **ASR** rewards **JUP** holders who **stake JUP and participate in [governance](jup-token-and-dao.md)** (voting). It aligns the DAO: those who lock JUP and vote earn periodic reward distributions. ASR is the incentive layer behind Jupiter's voting system. ## Choosing - **JupSOL** — liquid SOL yield you can keep using in DeFi. - **Native staking** — direct delegation (and collateral via Lend) if you prefer native stake accounts. - **JUP staking + ASR** — governance participation rewards for the [JUP token](jup-token-and-dao.md). Staking is one of the [earn pillars](../syntheses/earn-and-yield.md). Yields/validators vary; verify in-app. Not financial advice. --- title: "Swaps & Aggregation (Ultra)" type: concept tags: [swap, aggregation, ultra, routing, metis] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-swaps-orders.md, raw/llms_txt_doc-markets.md, raw/web_community-jupiter-developers.md] --- # Swaps & Aggregation (Ultra) Jupiter's core is **swap aggregation**: rather than trading against one pool, it splits and routes a swap across **all Solana DEXs and liquidity sources** to maximize output. ## How aggregation works - Jupiter's routing engine searches paths across Solana AMMs and market makers, **splitting** a single swap across multiple pools/hops to minimize price impact and get the best net price. - Multiple routers — **Metis** (Jupiter's routing algorithm), **JupiterZ** (RFQ/market-maker liquidity), and third-party routers — **compete on every swap**; the best quote wins. - **Ultra** is the modern swap experience/endpoint: it handles routing, transaction building, slippage, and broadcasting end-to-end ("Instant" swaps), including **Token-2022** support. ## Key trade controls - **Slippage** — max acceptable adverse price move; Ultra can auto-set/dynamically manage it. - **Price impact** — shown per quote; large trades in thin markets move price more. - **Fees** — an Ultra routing fee applies on swaps (see [fees](fees.md)); MEV-aware execution reduces sandwiching. ## For developers The same engine is a **[REST API](../entities/developer-apis.md)**: request a quote, get back a ready-to-sign Solana transaction — no RPC nodes or on-chain state handling. This is how most Solana apps embed swaps. Other order types build on this base: [limit orders](limit-orders.md), [recurring/DCA](recurring-orders-dca.md). Compare trade types in [trading-on-jupiter](../syntheses/trading-on-jupiter.md). --- title: "Token Launch (Studio, DTF, Lock)" type: concept tags: [studio, token-launch, dtf, lock, graduation] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-launching-a-token.md, raw/llms_txt_doc-jupiter-dtf.md, raw/llms_txt_doc-how-jupiter-lock-works.md] --- # Token Launch (Studio, DTF, Lock) Jupiter provides tooling to **create and launch tokens** on Solana — the "Studio"/launch side of the super-app. ## Launching a token A token launch uses a bonding-curve-style market that **graduates** to full DEX liquidity once it reaches a threshold. Example parameters (from `raw/`): - **Quote token** — USDC. - **Initial market cap** — ~5,000 USDC. - **Graduation market cap** — ~75,000 USDC (when the token "graduates" to broader liquidity). This lets creators launch with low initial capital and automatically transition to deeper liquidity as demand grows, with fees taken along the way (graduation-and-fees). ## DTF (Dynamic Token Factory / launch format) **Jupiter DTF** is a token launch mechanism the docs describe ("how a DTF launch works") — a structured launch format with its own rules for distribution and graduation. (Confidence: this is a newer, Jupiter-specific format — see the live docs for current specifics.) ## Jupiter Lock **Jupiter Lock** locks tokens (e.g. team/liquidity allocations) on a vesting schedule, with the schedule and unlocks enforced on-chain and publicly verifiable — a trust signal for launches (proves allocations can't be dumped early). ## Why it matters Token launch + lock + graduation make Jupiter a full **primary-issuance** venue, not just secondary trading — creators launch, lock allocations for credibility, and graduate into Jupiter's [aggregated liquidity](swaps-and-aggregation.md). Launch mechanics evolve quickly; verify current parameters in the docs ([docs-catalog](../summaries/docs-catalog.md)). Not financial advice — new token launches are high-risk. --- title: "What is Jupiter" type: concept tags: [jupiter, solana, defi, aggregator, overview] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-app-features.md, raw/llms_txt_doc-jupiter-user-docs.md, raw/web_community-jupiter-developers.md] --- # What is Jupiter **Jupiter** is the leading **DEX aggregator** on Solana and, increasingly, a DeFi **super-app**: it routes trades across all Solana liquidity to get the best price, and layers on a full suite of DeFi products. It's also the **liquidity infrastructure behind the majority of DeFi on Solana** — many apps route through Jupiter's APIs. ## The product surface - **Trading** — [swap aggregation](swaps-and-aggregation.md) (via **Ultra**), [limit orders](limit-orders.md), [recurring/DCA](recurring-orders-dca.md), and [Perps](perps.md). - **Earn** — [JLP](jlp.md) (the perps liquidity pool), [Jupiter Lend](lend.md), [JupUSD](jupusd-and-juiced.md) (stablecoin), and [staking](staking.md). - **Token & governance** — the [JUP token, DAO, and voting](jup-token-and-dao.md). - **Launch** — [Jupiter Studio](token-launch-studio.md) for creating tokens. - **Developer** — production-grade [REST APIs](../entities/developer-apis.md) for swaps, prices, tokens, and more. - Plus prediction markets, portfolio, onramp, and more ([docs-catalog](../summaries/docs-catalog.md)). ## Why Jupiter - **Best execution** — routers (Metis, JupiterZ, and third parties) compete on every swap so users get the best available price ([swaps-and-aggregation](swaps-and-aggregation.md)). - **One front-end for Solana DeFi** — trade, earn, and manage from one app. - **Infrastructure** — developers get the same engine that powers jup.ag as APIs, with no RPC nodes or on-chain state management to run themselves. ## Scope notes Jupiter is Solana-specific and evolves rapidly — many products here are recent. This wiki covers the products and developer integration; it is **not financial advice**, and live prices/rates/positions require the app or APIs. Start with [swaps-and-aggregation](swaps-and-aggregation.md). Full map: [docs-catalog](../summaries/docs-catalog.md). --- title: "Developer APIs" type: entity tags: [api, developers, swap-api, integration, rest] updated: 2026-06-19 confidence: high sources: [raw/web_community-jupiter-developers.md, raw/llms_txt_doc-technical-reference.md] --- # Developer APIs Jupiter exposes the **same liquidity infrastructure that powers jup.ag** as **production-grade REST APIs** — "Jupiter is the liquidity infrastructure behind the majority of DeFi on Solana." You build on it without running RPC nodes, managing blockchain state, or handling raw transaction construction. ## What the APIs provide - **Swap / Ultra API** — quote a swap (best route via Metis/JupiterZ/third-party routers competing on every swap) and get a **ready-to-sign Solana transaction** back. Handles routing, slippage, and tx building ([swaps-and-aggregation](../concepts/swaps-and-aggregation.md)). - **Trigger / Recurring APIs** — programmatic [limit orders](../concepts/limit-orders.md) and [DCA](../concepts/recurring-orders-dca.md). - **Price API** — token prices. - **Token API** — token metadata, verification, and lists ([security-and-safety](../concepts/security-and-safety.md)). - **Perps / Lend** and other product APIs. ## Why developers use it - **No infrastructure** — Jupiter handles all on-chain interactions; you call REST. - **Best execution for free** — your users get aggregated best price out of the box. - **Ubiquity** — trading terminals, DeFi protocols, payments apps, and wallets across Solana route through Jupiter. ## Getting started The developer hub (**dev.jup.ag**) documents the endpoints, authentication/keys, rate limits, and integration guides; the user-docs **technical reference** covers protocol-level details (programs, oracles, contracts). The typical swap integration: `quote` → build/sign transaction → send → confirm. This page orients; exact endpoints, parameters, and SDKs are in the developer docs ([docs-catalog](../summaries/docs-catalog.md)) — and they evolve quickly, so verify against dev.jup.ag. --- title: "Activity Log" type: log --- # Activity Log Append-only record of all wiki changes. ## Format Each entry follows this format: ``` ### YYYY-MM-DD HH:MM — [Action Type] - **Source/Trigger**: what initiated the action - **Pages created**: list of new pages - **Pages updated**: list of updated pages - **Notes**: any contradictions flagged, decisions made ``` --- ### 2026-04-08 00:00 — Setup - **Source/Trigger**: Repository initialized - **Pages created**: index.md, log.md, dashboard.md, analytics.md, flashcards.md - **Pages updated**: none - **Notes**: Empty knowledge base ready for first source ingestion ### 2026-06-19 00:00 — Initial curation (medium rung) - **Source/Trigger**: 122 sources (docs.jup.ag llms.txt user docs + dev.jup.ag developer hub) - **Pages created**: 13 concepts, 1 entity (developer-apis), 1 summary (docs-catalog), 2 syntheses (trading-on-jupiter, earn-and-yield) - **Pages updated**: index.md - **Notes**: Jupiter = Solana DEX aggregator + DeFi super-app (swap/Ultra, limit, DCA, perps, JLP, Lend, JupUSD, staking, DAO, Studio launch). Very broad + fast-moving; many products post-cutoff so grounded strictly in sources. Prediction-markets/portfolio/social lighter (raw-only). earn-and-yield confidence:medium. Category: blockchain. --- title: "Docs Catalog" type: summary tags: [catalog, map, reference] updated: 2026-06-19 confidence: high sources: [raw/llms_txt-llms-txt-index.md, raw/llms_txt_doc-app-features.md] --- # Docs Catalog Map of the Jupiter docs (docs.jup.ag user docs via llms.txt + dev.jup.ag developer hub; ~122 sources in `raw/`). Jupiter is a broad, fast-moving super-app; this maps coverage. | Area | Raw slugs (selection) | Wiki coverage | |---|---|---| | Trade | swaps-orders, limit-orders, recurring-orders, markets, positions-collateral, liquidation-mechanism | [swaps-and-aggregation](../concepts/swaps-and-aggregation.md), [limit-orders](../concepts/limit-orders.md), [recurring-orders-dca](../concepts/recurring-orders-dca.md), [perps](../concepts/perps.md) | | Earn | jlp-overview, delta-neutral, loans, lending, borrowing, multiply, strategies, jupusd, juiced, jupsol, native-staking | [jlp](../concepts/jlp.md), [lend](../concepts/lend.md), [jupusd-and-juiced](../concepts/jupusd-and-juiced.md), [staking](../concepts/staking.md) | | Token/DAO | jup-token-overview, jupiter-dao-overview, voting, tokenomics, active-staking-rewards-asr | [jup-token-and-dao](../concepts/jup-token-and-dao.md), [staking](../concepts/staking.md) | | Launch | launching-a-token, jupiter-dtf, how-jupiter-lock-works, graduation-and-fees | [token-launch-studio](../concepts/token-launch-studio.md) | | Fees | fees, fees-costs | [fees](../concepts/fees.md) | | Security | security-risks, security-and-settings, token-verification | [security-and-safety](../concepts/security-and-safety.md) | | Developer | jupiter-developers, technical-reference, OpenAPI specs | [developer-apis](../entities/developer-apis.md) | | Other (raw only) | prediction-markets/predict, portfolio, copy-trading, clans/poker/tcg, affiliate-referrals, onramp | mentioned in [what-is-jupiter](../concepts/what-is-jupiter.md) | ## Not covered in depth (look up live) - **Full API reference** — exact endpoints/params/SDKs at **dev.jup.ag** (OpenAPI specs). - **Prediction markets, copy-trading, portfolio, social/games** — present in raw/ but lighter here; see the user docs. - **Live data** — prices, rates, APYs, OI, reserve attestations, tokenomics unlocks — always from the app/APIs, never static. - **Fast-moving / newer products** (JupUSD, DTF, Lend, Studio) — verify specifics against docs.jup.ag, as they postdate parts of this curation. --- title: "Earn & Yield: Comparing the Options" type: synthesis tags: [earn, yield, comparison, risk, synthesis] updated: 2026-06-19 confidence: medium sources: [raw/llms_txt_doc-jlp-overview.md, raw/llms_txt_doc-lending.md, raw/llms_txt_doc-jupsol.md, raw/llms_txt_doc-juiced.md] --- # Earn & Yield: Comparing the Options Jupiter's earn products span very different risk/return profiles. Confidence medium — this is a comparative synthesis; mechanics live in the linked pages, and rates/risks are point-in-time. **Not financial advice.** | Product | Yield source | Main risk | |---|---|---| | **[Staking — JupSOL / native](../concepts/staking.md)** | Solana validator rewards | Low (SOL price exposure; LST de-peg minor) | | **[JupUSD / JUICED](../concepts/jupusd-and-juiced.md)** | T-bill yield + Lend interest | Stablecoin de-peg, reserve, contract | | **[Jupiter Lend (Earn)](../concepts/lend.md)** | Borrower interest | Utilization/withdrawal, contract | | **[Lend — Multiply / Strategies](../concepts/lend.md)** | Leveraged supply/borrow | **Liquidation**, de-peg | | **[JLP](../concepts/jlp.md)** | Perps fees + trader losses | **Directional market exposure + counterparty to traders** | ## How to think about it - **Lowest risk** — [staking](../concepts/staking.md) (you're long SOL, earning validator yield) and **stablecoin earn** ([JUICED](../concepts/jupusd-and-juiced.md), Lend USDC supply) — stable-denominated, but not risk-free (de-peg/contract). - **Market-exposed** — [JLP](../concepts/jlp.md) can earn strong fee yield but **carries the pool's asset exposure and the other side of traders' PnL**; in a strong trend against the pool it can lose value. The **Delta Neutral** vault hedges this for stablecoin yield. - **Amplified** — Lend **Multiply/Strategies** lever returns and **liquidation risk**; use the liquidation calculator. ## Composability These stack: stake SOL → JupSOL → use as [Lend](../concepts/lend.md) collateral → borrow stables → supply for yield. Each hop adds yield *and* risk (liquidation, de-peg, contract). Understand each layer; don't chain leverage blindly. ## Bottom line Match product to risk tolerance: staking/stable-earn for conservative, JLP for fee yield with market exposure (hedge via Delta Neutral), Multiply for aggressive. Always check **current** APYs and the specific risks in the live docs ([docs-catalog](../summaries/docs-catalog.md)). --- title: "Trading on Jupiter: Choosing an Order Type" type: synthesis tags: [trading, orders, comparison, synthesis] updated: 2026-06-19 confidence: high sources: [raw/llms_txt_doc-swaps-orders.md, raw/llms_txt_doc-limit-orders.md, raw/llms_txt_doc-recurring-orders.md, raw/llms_txt_doc-positions-collateral.md] --- # Trading on Jupiter: Choosing an Order Type Jupiter offers four ways to trade — pick by intent. | Product | Use when | Execution | Key cost | |---|---|---|---| | **[Instant swap (Ultra)](../concepts/swaps-and-aggregation.md)** | Trade now at best price | Immediate, aggregated routing | Ultra routing fee (0–0.5%) | | **[Limit / trigger order](../concepts/limit-orders.md)** | Buy/sell at a target price/market cap | When condition met, then routed | per trigger schedule | | **[Recurring (DCA)](../concepts/recurring-orders-dca.md)** | Average in/out over time | Scheduled (optionally price-ranged) | 0.1% (time) / routing+base (conditional) | | **[Perps](../concepts/perps.md)** | Leveraged long/short | Oracle-priced vs [JLP](../concepts/jlp.md) | 0.06% base + price-impact + borrow | ## Decision guide - **Just swap two tokens** → Instant/Ultra. It splits across all Solana liquidity for best price ([swaps-and-aggregation](../concepts/swaps-and-aggregation.md)). - **Want a specific entry/exit price** → Limit (guaranteed output at pool rate) or Trigger (USD price / market-cap, supports buy-below) — choose by whether you need guaranteed output or flexible conditions. - **Reduce timing risk on a big position** → Recurring/DCA; add a price range to only execute in favorable zones. - **Leverage / short** → Perps — but you're trading against JLP with liquidation risk; understand [perps](../concepts/perps.md) and [fees](../concepts/fees.md) first. ## Cross-cutting tips - All order types ultimately route through Jupiter's **best-price [aggregation](../concepts/swaps-and-aggregation.md)** at execution. - Mind **slippage and price impact**, especially on illiquid tokens ([security-and-safety](../concepts/security-and-safety.md)). - For programmatic trading, every product has a [developer API](../entities/developer-apis.md). - Not financial advice — leverage and new tokens are high-risk.