As mobile technology continues to dominate, popular DeFi platform Jupiter has unveiled its mobile app, adding to Solana’s growing presence in the mobile space. Jupiter’s pseudonymous founder meow explained that while developing the app, several features were removed, but the final product focuses on swaps. Jupiter does not currently generate income from fees, with the app primarily designed to expand its distribution.
The app has two tabs: one for swaps and one for displaying wallet balances. Jupiter collaborated with MoonPay to provide fiat onramps, making it simple to fund a wallet with SOL via Apple Pay in less than ten minutes. Although the process had some minor hiccups, the overall experience was smooth.
While it may not be the most visually appealing or feature-rich crypto app, Jupiter aims to provide users with the best possible prices. The platform functions as a swap aggregator, routing trades across multiple decentralized exchanges for optimal pricing. Jupiter doesn’t charge fees for swaps, making the prices even more attractive. Despite not yet offering fee-generating products on the mobile app, Jupiter’s focus is on expanding distribution.
Jupiter’s competition, Phantom, is already popular among Solana wallet users due to its wide distribution. However, Phantom’s swap prices are not as competitive as Jupiter’s. With Jupiter’s mobile app release, it seems poised to target and potentially disrupt Phantom’s market share.
Solana’s growing focus on mobile technology highlights the belief that the future of the crypto market will be determined by mobile devices. With Jupiter’s entrance into the mobile arena, the competition is intensifying.
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