Solana-based decentralized speech Jupiter is rolling retired its ain stablecoin, JupUSD, by the extremity of the year.

The coin volition beryllium autochthonal to Solana and tightly integrated crossed Jupiter’s ecosystem, including its perpetuals platform, lending markets, and trading interfaces, the DEX shared connected X connected Wednesday.

JupUSD is being developed successful concern with Ethana Labs, known for minting implicit $16 cardinal successful stablecoins done their project.

The stablecoin volition beryllium afloat collateralized by Ethana Labs’ USDtb, a stablecoin that’s backed by treasury funds including BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL ($1.00)).

The unit plans to adhd USDe arsenic a secondary backing asset, aiming to boost output potential.

Smart contracts that let minting and redemption of JupUSD are being built, Jupiter said, with aggregate audits expected up of the launch.

Jupiter, a Solana-based decentralized speech aggregator that has since expanded its offerings, presently has $3.58 cardinal successful full worth locked according to DeFiLlama, making it the starring protocol connected Solana.