Parafi Capital invested $35 million in Solana-based on-chain trading and liquidity protocol Jupiter, Cointelegraph reported on Sunday.
This is the first time Jupiter has attracted external capital after growing through a bootstrapped approach.
The deal was conducted through token purchases at market price and included a long-term lockup with no discount. It also included warrant terms allowing Parafi Capital to purchase additional tokens later at a higher price. The company said the structure was designed for the two sides to build a long-term partnership.
Jupiter processed more than $1 trillion in trading volume over the past year and is expanding beyond simple swap routing into derivatives, lending and stablecoins. It launched a prediction market platform in October last year and expanded its product lineup, including launching Solana-native stablecoin JupUSD in January this year.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr