Jupiter Acquires SolanaFM to Enhance Solana Data Capabilities

The largest decentralized trading platform on Solana, Jupiter Exchange, has officially acquired SolanaFM, a prominent blockchain explorer for the Solana network.

The involved parties have characterized this acquisition as a strategy to accelerate the enhancement of their data and infrastructure capabilities, ultimately aimed at benefiting the Solana community.

Positive Outlook on the Acquisition

In a post on X published on September 20, Jupiter Exchange, which has surpassed $300 billion in trading volume, expressed its enthusiasm regarding the acquisition, asserting that it would enhance the platform’s data and system capabilities significantly.

In a separate announcement concerning the acquisition, the SolanaFM team indicated that their platform will continue its operations as usual while simultaneously working to enhance Jupiter’s potential.

Launched in 2021 by three students from Singapore Management University (SMU), SolanaFM has been delivering comprehensive insights into transaction histories, smart contracts, and token data within the Solana blockchain.

The explorer has received notable backing, such as $4.5 million from a seed funding round in 2022. The round was led by SBI Group’s Digital Asset Opportunity Fund, with participation from Zee Prime, Spartan Capital, and K3 Ventures, among others.

Additionally, the platform benefited from an undisclosed seed funding round at its inception, with contributions from Ethereum explorer Etherscan and crypto wallet provider Coinhako.

Jupiter Unveils Major Updates

At the recent Breakpoint conference, an annual event for Solana, Jupiter announced several significant updates, including the introduction of the Metropolis API, designed to facilitate development on Solana with new tokens, pricing, and swap APIs.

Other key updates feature the Jupiter RFQ (Request for Quote), which aims to boost liquidity by enabling market makers to directly supply pricing to the routing engine.

The exchange also introduced its next-gen perpetual trading platform, which will offer anticipated functionalities such as limit orders, gasless transactions, and an innovative Dove oracle system.

In conjunction with these advancements, Jupiter plans to launch Jupiter Mobile, an app intended to onboard newcomers to Solana. This app will permit users to swap tokens conveniently using Apple Pay, Google Pay, or credit cards without incurring platform fees.

This encouraging news follows Jupiter’s recent warning issued to Solana users regarding a malicious Chrome extension that was draining wallets.

The extension, named “Bull Checker,” reportedly targeted Reddit users, particularly those belonging to various Solana-themed subreddits. In its alert, Jupiter warned that Bull Checker could alter a standard crypto transaction’s instructions, redirecting funds to a different wallet.