Jupiter acquires SolanaFM in order to boost Solana’s data and infrastructure capabilities

Jupiter Exchange is Solana’s largest decentralized trading platform. It has also taken control of SolanaFM.

They have described it as a move to increase their capabilities for data collection and infrastructure in order to better serve the Solana communities.

The Acquisition Optimism

The X post Published on September 20th, the crypto exchange boasting over $300 billion of trading volume expressed its excitement regarding the acquisition. It stated that the move will improve their data and system capability tenfold.

The SolanaFM Team stated in its announcement that Jupiter will be able to maximize their potential by continuing the normal operation of SolanaFM.

This explorer, founded by Singapore Management University in 2021, has been providing in-depth insight into the transaction history, smart contracts and token data on the Solana Blockchain.

This has been backed by a variety of other sources as well $4.5 million Raised in a 2022 seed round. SBI Group’s Digital Asset Opportunity Fund was the lead investor in this round. Zee Prime’s Digital Asset Opportunity Fund, Spartan Capital and K3 Ventures were also participants.

Platform also received seed funding from Ethereum Explorer Etherscan, and Crypto Wallet Provider Coinhako.

Jupiter Announces Key Updates

Jupiter announced other major updates during Breakpoint, Solana’s annual conference. These included Metropolis API: a platform that streamlines development using Solana, with new APIs for tokens, prices, and swaps.

Jupiter RFQ is another noteworthy update. This will improve liquidity as it will allow market makers and routing engines to exchange pricing.

It also announced its next-generation platform that offers features including limit orders and gasless transactions.

Jupiter plans, in tandem with this development, to launch Jupiter Mobile, a mobile app that will help onboard people new to Solana. Users will be able to exchange tokens with Apple Pay, Google Pay or credit card without any platform fees.

Jupiter recently warned Solana users of a Chrome extension that was draining their bank accounts.

CalledBull Checker“The offending extension” allegedly targeted Reddit members, particularly those that were part of subreddits with a Solana theme. Jupiter’s alert claimed Bull Checker could add instructions to an ordinary crypto transaction to allow it to transfer funds to another wallet.