Key Takeaways
- Jupiter also announced the acquisition of SonarWatch, a portfolio-tracking tool that will be integrated into its platform.
- Moonshot, launched in July 2024, has gained significant traction in recent months
Solana-based decentralized exchange (DEX) aggregator Jupiter has announced the acquisition of a majority stake in Moonshot, an app that allows users to purchase memecoins using Apple Pay. The news was shared on January 25 by Jupiter’s pseudonymous founder, Meow, on X (formerly Twitter). Meow expressed enthusiasm for the partnership, describing the Moonshot team as highly skilled and driven.
“For the first announcement of Catstanbul, I’m thrilled to share that Jupiter Exchange has acquired a majority stake in Moonshot. The team is amongst the smartest, most driven group of people I have ever met.”
Moonshot, launched in July 2024, has gained significant traction, particularly following the release of Donald Trump’s Official Trump (TRUMP) memecoin on January 18. The app’s ranking in the US App Store’s finance category surged from 309th to the top spot shortly after the memecoin’s debut.
During this period, Moonshot processed $400 million in trading volume and reached 1 million daily active users by January 20. The app is powered by TurnkeyHQ and operates as a self-custodial platform.
Jupiter also announced the acquisition of SonarWatch, a portfolio-tracking tool that will be integrated into its platform. As part of this integration, SonarWatch’s standalone platform will be phased out, with its features incorporated into Jupiter’s portfolio tracking system.
SonarWatch’s native token, SONAR, will also be discontinued, with holders offered the option to exchange their tokens for Jupiter’s native token, JUP. In a statement, SonarWatch emphasized its shift in focus toward Solana-based portfolio tracking and confirmed the transition period would include ongoing updates before the standalone platform is retired.
Alongside these acquisitions, Jupiter unveiled a series of updates to its platform which includes the introduction of “Ultra Mode,” which automates key functions such as real-time slippage estimation, dynamic priority fees, and optimized transaction handling. The platform is also set to launch a new security tool, Jupiter Shield.
Additionally, upgrades to the platform’s Manual Mode now provide users with Routing and Broadcast options for enhanced trade control. For perpetual trading, Jupiter has introduced features like limit orders and one-click trading.
The updates are part of Jupiter’s broader redesign, referred to as “V2,” which is currently in beta. The new design incorporates advanced tools such as a real-time slippage estimator and smart trigger orders, with more features expected to roll out in the coming weeks. Jupiter recently distributed $600 million to its community during its “Jupuary” airdrop event, underscoring its commitment to user engagement and platform growth.
