By leveraging Jupiter’s infrastructure for Solana token swaps, Coinbase is enhancing its ability to connect users with deeper liquidity and broader token coverage. This move positions Coinbase among a growing group of major platforms that are directly integrating decentralized liquidity solutions into their core products.

Coinbase on Solana: Broader Access Through Smarter Routing

At the center of this collaboration is Jupiter’s Metis API, which Coinbase has integrated to power Solana token swaps. Jupiter functions as a DEX aggregator, scanning multiple liquidity sources across the Solana network to identify the most efficient execution paths.

For Coinbase users, this means access is no longer limited to a narrow set of highly liquid assets. Instead, the platform can support a much wider range of Solana tokens, including emerging and lower-cap assets that may not typically be listed on centralized exchanges. The result is a more comprehensive Solana trading experience without requiring users to leave the Coinbase environment.

This model challenges traditional exchange listing constraints and reflects a broader shift toward modular, liquidity-agnostic infrastructure in crypto markets.

What Is Jupiter (JUP)?

Jupiter (JUP) is a decentralized finance protocol built on the Solana blockchain, designed to optimize on-chain trading and capital efficiency. While best known as a DEX aggregator, Jupiter’s product suite extends well beyond simple swaps.

The platform offers tools such as limit orders, dollar-cost averaging (DCA), cross-chain bridge functionality, and advanced liquidity routing. It also supports perpetual trading features and decentralized stablecoin liquidity aggregation, making it a multifunctional DeFi hub within the Solana ecosystem.

By combining these services with Solana’s low fees and high throughput, Jupiter enables fast and flexible trading strategies that are difficult to replicate on higher-cost networks.

Bridging Centralized Platforms and DeFi Infrastructure

The Coinbase–Jupiter integration highlights a broader industry trend: centralized exchanges increasingly rely on decentralized protocols to improve efficiency, coverage, and user experience. Rather than competing directly, CeFi and DeFi are becoming complementary layers within the same financial stack.

For Solana, this partnership enhances token visibility and accessibility while reinforcing the network’s role as a high-performance settlement layer. In the long term, such integrations may accelerate adoption by reducing friction between centralized platforms and decentralized liquidity, creating a more unified and efficient crypto market structure.

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This development marks an important milestone for PLUME and JUPITER, two assets that have attracted increasing attention throughout the year. Opening USD trading pairs offers clearer price discovery and deeper liquidity. In a period where competition among global crypto exchanges continues to intensify, Coinbase’s move reflects its ongoing expansion strategy.

Coinbase to Open PLUME and JUPITER Trading Pairs

The exchange confirmed that PLUME-USD and JUPITER-USD pairs will go live on December 9. Listing announcements from Coinbase often generate noticeable spikes in volume and volatility, prompting rapid market reactions. Spot trading support also increases potential user activity on the platform and strengthens Coinbase’s position in the U.S. market.

Theoriq (THQ) Added to the Listing Roadmap

Coinbase’s addition of Theoriq to its listing roadmap signals the platform’s growing interest in emerging projects. THQ is not yet available for trading, but its inclusion in the roadmap highlights both technical progress and rising community demand. Users are closely watching for an official listing announcement.

Coinbase stated that any updates to the listing roadmap will be shared through its official X account. The exchange also warned users not to deposit these assets before an official listing announcement, as premature transfers may result in permanent loss of funds.

Spot trading for Plume (PLUME) and Jupiter (JUPITER) will go live on 9 December 2025. The opening of our PLUME-USD and JUPITER-USD trading pairs will begin on or after 9AM PT, if liquidity conditions are met, in regions where trading is supported. pic.twitter.com/AmnIRbZcze

— Coinbase Markets (@CoinbaseMarkets) December 8, 2025

Market Impact of New Listings

Following these announcements, short-term market activity is expected to increase. New trading pairs often generate strong volume during initial price discovery phases. The availability of USD pairs also simplifies decision-making for traders. For this reason, December 9 has become a closely watched date across the market.

Key Points

• PLUME and JUPITER spot trading opens on December 9

• PLUME-USD and JUPITER-USD pairs activate once liquidity is ready

• Theoriq (THQ) added to Coinbase’s listing roadmap

• Coinbase notes the list is not final and future assets may also be evaluated

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Token Burn Details

Jupiter will burn 130 million JUP tokens, which account for roughly 4% of the total circulating supply. This move aims to optimize liquidity management and create a deflationary effect within the ecosystem. Jupiter will execute the burn transparently on the blockchain, allowing investors to verify that the team has permanently removed the tokens from circulation

All steps were determined through DAO voting, ensuring that the process aligns with the community’s decisions. Experts suggest that such token burns typically have a positive effect on the token’s price.

Role of the Litterbox Trust Fund

The 130 million JUP tokens earmarked for burning were accumulated in the “Litterbox Trust Fund,” which receives 50% of the platform’s ongoing on-chain revenues. The fund’s original purpose was to buy back tokens from the market and hold them for long-term management.

Initially, the plan was to transfer these tokens to the DAO after approximately three years. However, the community opted for a permanent burn to eliminate uncertainties regarding potential future releases and to strengthen the token’s value proposition. This step reinforces long-term confidence in the JUP ecosystem.

Market and Investor Reactions

Following the announcement, the market reacted to the reduced supply and the potential for price increases. Analysts note that removing 4% of the circulating supply may trigger short-term volatility, but long-term confidence in the token economy is expected to grow.

Investors are adjusting their positions based on this development. Crypto communities are also watching closely to see if the burn will increase interest and engagement with the project.

Importance of the Burn for the Jupiter Ecosystem

The Jupiter ecosystem considers the token burn a critical step for maintaining sustainability and price stability. It also highlights the importance of community participation in DAO governance.

• A total of 130 million JUP tokens will be burned

• Circulating supply will decrease by 4%

• Market impact and price stability will be monitored

These measures send a strong signal about Jupiter’s approach to liquidity management and community trust.

Looking Ahead: Future Revenue Flow Vote

Following the burn, Jupiter’s next focus is a community vote on how to manage ongoing revenues flowing into the Litterbox Trust Fund.

The community will decide whether the funds should be:

1. Used for continuous token burns,

2. Allocated for platform development and new features, or

3. Distributed to token holders.

This vote will define Jupiter’s long-term economic model and value proposition. Markets will continue to closely monitor Jupiter’s transparent, community-driven governance steps.

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In a blog post, Uniswap stated:

“You can now access tokens on Ethereum, Solana, Unichain, Base, and other networks directly from the web app.” The company aims to reduce fragmentation in DeFi and enhance the user experience.

Solana Transactions via Jupiter Ultra API

Solana transactions on the web app will be routed through the Jupiter DEX aggregator. Jupiter’s pseudonymous founder SIONG noted that Uniswap is the first major partner to use the Jupiter Ultra API. This collaboration gives Uniswap a leadership opportunity within the Solana DEX ecosystem. Over the past 30 days, Solana DEXs recorded $140 billion in transaction volume, with Jupiter generating $17.5 million in revenue. Uniswap engineers emphasized that the integration is platform-agnostic, not Solana-specific.

Unichain and Crosschain Opportunities

Uniswap Labs’ layer-2 network Unichain, launched in February, will benefit from Solana support by improving liquidity discovery and swap experience. Uniswap’s Head of Trading Engineering Danny Daniil said:

“Bringing assets from Solana and other ecosystems to Unichain ensures investors find the best liquidity.”

Meanwhile, 1inch founder Sergej Kunz predicts centralized exchanges will not exist in their current form over the next decade. He believes exchanges will merely function as front-ends for DEXs and DEX aggregators.

Launched in 2020, Solana has emerged as a fast and low-cost alternative to Ethereum for DeFi transactions. As of October 2025, the total value locked in Solana protocols stands at $10.9 billion.

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JupUSD: Powered by Ethena’s Stablecoin-as-a-Service Platform

JupUSD is developed using Ethena’s Stablecoin-as-a-Service (SCaaS) infrastructure, positioning it as a native stablecoin with strong integration potential. The token is designed to connect seamlessly with Jupiter’s ecosystem, enhancing liquidity and expanding its use across the platform.

Full Integration Across the Jupiter Stack

JupUSD will play a central role within Jupiter’s platform products:

• Jupiter Perps: Approximately $750 million in stablecoins within JLP will gradually transition to JupUSD.

• Jupiter Lend: The stablecoin will serve as a cornerstone lending asset within the platform.

This integration places JupUSD at the center of Solana’s DeFi landscape, facilitating both trading and lending activities.

Introducing JupUSD: the native stablecoin of the @JupiterExchange ecosystem built on Ethena's Stablecoin-as-a-Service stack.

JupUSD will plug into every major part of the Jupiter stack, including:

– Jupiter Perps: where the ~$750m in stablecoins inside of JLP will gradually be… pic.twitter.com/jlNLc2eNCz

— Ethena Labs (@ethena_labs) October 8, 2025

Backing and Security

Currently under development, JupUSD is expected to go live in the coming months. Initially, it will be backed by USDtb, which itself is nearly fully supported by Blackrock’s BUIDL fund. In the future, the collateral framework may expand to include assets such as USDe.

The Latest Addition to Ethena’s Whitelabel Program

JupUSD is the newest stablecoin emerging from Ethena’s Whitelabel SCaaS product line. With this launch, Jupiter joins a select group of Tier-1 protocols and blockchains participating in the program, further solidifying its presence in the Solana ecosystem.

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What is Syndicate (SYND)?

Syndicate enables developers to build application-specific blockchains (appchains) powered by programmable sequencer smart contracts, consisting of three main layers:

• Execution Layer: The environment where transactions are processed and the appchain’s state is updated. Syndicate appchains can leverage any rollup framework* (e.g., Arbitrum Orbit).
• On-Chain Sequencing Layer: Programmable sequencer smart contracts on Syndicate Chain define transaction inclusion and ordering rules. They provide developers and communities with full control over sequencing, economic mechanisms, and permission/governance models.
• Settlement Layer: Provides cryptographic security, finality, and settlement, hosting the appchain’s gas token. Developers can choose EVM-compatible settlement layers like Ethereum L1 or Base L2, with additional chains available upon technical evaluation.

Syndicate currently supports Arbitrum Orbit Stack; support for OP Stack and other frameworks is planned.

Syndicate appchains offer advantages such as easy customization of transaction ordering rules, designing custom economic models, reducing operating costs by 10-100x, integrating enshrined protocols (oracles, VRF, marketplaces), atomic cross-chain composability, and progressive decentralization. They cater to a wide range of applications, from consumer to finance, gaming, and decentralized physical infrastructure (DePIN).

Purpose of Syndicate (SYND)

Syndicate’s vision is to make web3 mainstream by scaling to billions of users. Appchains maximize technical and economic alignment with applications and tokenized communities. Syndicate breaks the core tradeoff between customization and composability, offering appchains full control and atomic composability. Its mission is to overcome the limitations of centralized sequencers (lack of control, single points of failure, value leakage, high costs, loss of composability, data loss risks, and lack of community control) by providing programmable on-chain sequencers for flexibility, resilience, and community ownership.

Syndicate represents the shift from general-purpose chains (congestion, high fees) and scaling solutions (limited customization) to application-centric chains. Projects like Uniswap, Jupiter, and Ethena are moving to appchains for greater control over networks, fees, and economies. Syndicate makes these appchains programmable, composable, and community-driven, realizing web3’s ultimate goal.

How Syndicate (SYND) Works

Syndicate enables appchains to scale web3 horizontally through a network of networks. The Syndicate Stack integrates custom components with existing rollup solutions (e.g., Arbitrum Nitro). The transaction flow is as follows:

1. User: Initiates a transaction via a wallet or dApp.
2. Syndicate Mempool (optional): Collects and batches transactions.
3. Syndicate Sequencer: Submits transactions to Syndicate Chain.
4. Syndicate Chain: Applies on-chain sequencing, rules, and permissions.
5. Syndicate Translator: Prepares blocks for execution.
6. Rollup Framework: Executes transactions and updates state (e.g., Arbitrum Nitro).
7. Syndicate Proposer: Submits data to the settlement chain.
8. Settlement Chain: Ensures security and finality (Base, Ethereum Mainnet, etc.).

Syndicate moves sequencing logic to on-chain smart contracts, enhancing decentralization and reducing costs. The management console simplifies technical operations, allowing developers to focus on economics and governance.

Use Cases

Syndicate appchains cater to a broad range of applications:

• Consumer and Social Applications: Low-fee, community-driven appchains.
• Finance and Real-World Assets (RWA): Scalable DeFi networks and RWA tokenization platforms.
• Decentralized Physical Infrastructure (DePIN): Customized networks for specific industries.
• Gaming: High-performance chains with custom transaction ordering for gameplay.
• Examples: Loyalty-based commerce appchains, manufacturing appchains sharing fees with supply chains, volume-based finance appchains, real-time reward gaming appchains, and usage-based incentive social appchains.

Tokenomics Structure

The SYND token is the native asset of the Syndicate Network, powering appchains, facilitating transactions, and securing the network. Key details:

• Token Standard: ERC-20
• Total Supply: 1,000,000,000 SYND (fixed)
• Minted at Genesis: 920,000,000
• Emissions: 80,000,000 (over 48 thirty-day epochs)
• Initial Circulating Supply: Non-transferable until public launch

Distribution:

• Treasury: 25.87% (controlled by SYND holders via governance)
• Team: 24.99% (4-year vesting, 1-year cliff)
• Investors: 15.89% (4-year vesting, 1-year cliff)
• R&D: 9%
• Network Emissions: 8% (48 epochs)
• Liquidity Incentives: 7%
• Liquidity Operations: 4%
• Pre-Launch Partnerships: 3.25%
• Airdrop: 2% (August 15, 2025)

Emission Schedule: 80M SYND is distributed over 48 epochs with geometric decay (first epoch: 2,577,259 SYND; final epoch: 997,205 SYND). Staking operates on 30-day epochs, distributing rewards via Base Pool (30%), Performance Pool (30%), and Appchain Pool (40%). Stakers earn based on stake size and appchain performance.

Syndicate (SYND) Investors

Syndicate is backed by investors, raising $21.8M. Key investors include:

• Tier 1: Andreessen Horowitz (a16z crypto), Coinbase Ventures, Delphi Ventures, Balaji Srinivasan, Circle, Stani Kulechov, Raj Gokal.
• Tier 2: IDEO CoLab Ventures, P2 Ventures, Robot Ventures, CoinFund, Electric Capital, Sfermion, 6th Man Ventures, Variant, Nascent, YGG.
• Tier 3: Protocol Labs, Outlier Ventures, LedgerPrime, a_capital, Scalar Capital, Sound Ventures, OpenSea, Global Coin Research, BlueYard Capital, True Ventures, Kleiner Perkins, Uniswap Labs Ventures, Ryan Sean Adams, FalconX, CoinList, Tyler Ward, 35Ventures, Weekend Fund, Aave.
• Tiers 4 and 5: DeFi Alliance, South Park Commons, Xoogler, Broadhaven Capital, Chainforest, Afropolitan DAO, Makena Capital, PoolSuite, Reach Capital, States DAO, Steel Perlot, WE3, and others.

Official Links

• Website
• X (Twitter)
• Whitepaper

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Buyback Strategy and Revenue Model

The company’s buyback initiative is fully funded by its own revenues. In particular, the fees collected from users launching new memecoins on the platform are directed toward daily token buybacks.

Over the past week, daily repurchases have ranged between $1.3 million and $2.3 million, signaling a consistent effort by Pump.fun to reduce circulating supply.

According to available data, the platform’s cumulative revenue has already surpassed $775 million. However, from July 28 to August 3, Pump.fun’s weekly revenue dropped sharply to just $1.72 million — its lowest level since March 2024.

PUMP’s Price Movement and User Growth

The buyback strategy appears to be having a positive impact. PUMP token has gained more than 12% over the past month and nearly 9% in the past week. At the time of writing, it trades at $0.003522, marking a 54% increase from its August low of $0.002282.

On-chain data also reveals a steady rise in user participation. The number of PUMP holders has surpassed 70,800, with smaller wallets holding less than 10,000 PUMP now accounting for 46% of total distribution. This trend highlights growing retail investor interest and a broader spread of token ownership.

Competition and Market Share

Despite these achievements, company has faced challenges in maintaining its dominance within the Solana memecoin launchpad ecosystem. On July 7, a rival platform called LetsBonk surpassed Pump.fun in 24-hour revenue, temporarily taking the top spot. Throughout July, LetsBonk continued to capture more market share and even outpaced Pump.fun at times.

However, data from the Solana DEX aggregator Jupiter shows that company has reclaimed the lead. In the past seven days, Pump.fun secured a 73% market share with $4.5 billion in trading volume, while LetsBonk’s share dropped below 9%, recording only $543 million in volume.

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What Is YZY Money?

YZY Money, a memecoin launched by Kanye West, has become a leader in the Solana (SOL) network, boasting significant trading volume on the Meteora DEX. YZY Money is a Solana-based financial ecosystem that allows users to challenge centralized financial systems and maintain control. The system integrates the YZY token, Ye Pay payment processor, and YZY Card for global spending capabilities. By eliminating the high fees and intermediaries of traditional finance, it enables users to conduct crypto and credit card transactions at lower costs.

What Is Ye Pay?

Ye Pay is a payment processor that allows merchants to accept both crypto and credit card payments at significantly lower fees compared to the typical 3.5% charged by traditional platforms. Merchants can easily integrate Ye Pay into their websites or apps, providing customers with a fast and streamlined checkout experience. Ye Pay offers businesses a secure and efficient payment infrastructure, positioning itself as the backbone for on-chain transactions while leaving behind the flaws of traditional finance.

What Is YZY Card?

YZY Card is a debit card enabling users to spend YZY and USDC at millions of merchants worldwide. Operating as a non-custodial card, it allows direct use of crypto assets without manual fiat conversion or reliance on intermediaries. The YZY Card supports funding with YZY, USDC, USDT, and fiat currencies, and is compatible with any non-custodial wallet.

YZY Token Contract Address and Symbol

• Symbol: YZY

How to Trade YZY?

YZY is traded on the Meteora platform within the Solana blockchain. Users can trade YZY through the official YZY liquidity pool.

Trading YZY on Mobile

1. Download the Moonshot app from the App Store or Google Play.

2. Open the app.

3. Purchase YZY.

Buying YZY with a Card

1. Click the Buy button on the homepage.

2. Fund your USDC account using a debit or credit card via Coinbase.

3. Purchase YZY.

How Does the Anti-Sniping System Work?

YZY employs an anti-sniping system to prevent bots from gaining an advantage during the token launch. A total of 25 contract addresses were created, with one randomly selected as the official YZY token address. This reduces the likelihood of bots targeting the correct address to 1/25, empowering genuine traders.

Which Blockchain Are YZY Tokens Minted On?

All YZY tokens are minted on the Solana blockchain.

YZY Vesting Structure

YZY utilizes the Jupiter Lock protocol, an open-source and audited system, to lock and distribute tokens on-chain. This ensures a transparent, cliff-based vesting schedule that anyone can verify in real time.

Are YZY, Ye Pay, and YZY Card Affiliated?

YZY, Ye Pay, and YZY Card are separate entities with distinct purposes but operate cohesively within the YZY Money ecosystem.

Other Important Information

• YZY is intended as an expression of support for the ideals and beliefs represented by the “YZY” symbol and its associated artwork, not as an investment opportunity, contract, or security.

• YZY is not available to persons or entities in restricted jurisdictions.

• Users acknowledge that digital assets carry inherent risks, including the potential for complete loss.

• Nothing on this platform constitutes financial, legal, or investment advice.

YZYNOMICS (YZY Tokenomics)

• Public Supply: 20% (available for trading)

• Liquidity: 10% (ensuring market stability)

• Yeezy Investments LLC Allocation: 70% total, across three tranches:

  • 30% (3-month cliff, 24-month vesting)

  • 20% (6-month cliff, 24-month vesting)

  • 20% (12-month cliff, 24-month vesting)

This vesting structure ensures predictable token release schedules, supporting price stability and long-term project commitment.

This content is not investment advice. The cryptocurrency market carries high risks, and you should conduct your own research before making investment decisions.

Official Links

Website

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Hyperliquid Maintains Leadership in the Perpetual Futures DEX Market

Throughout July, Hyperliquid continued to dominate the perpetual futures (perps) decentralized exchange (DEX) space, consistently holding a market share of over 75%. This solid performance reinforces the platform’s position as a volume leader among on-chain derivatives trading platforms.

The Hyperliquid/Binance ratio — which measures the trading volume of perps on Hyperliquid relative to Binance — reached a new peak of 11.89% in July. For context, Binance reported roughly $2.59 trillion in perps volume during the same period, a 35% increase from the previous month.

Drift Sees Notable Surge in Volume

Meanwhile, Drift, a perps DEX built on the Solana blockchain, experienced a remarkable 336% month-over-month increase, reaching $14.8 billion in trading volume during July. This sharp rise can be largely attributed to Drift’s zero-fee campaign on its BTC-PERP market, launched at the end of June. The incentive successfully drove higher trading activity in the following weeks.

DEX vs. CEX Futures Volume Ratio Remains Flat

Despite Hyperliquid’s efforts to close the gap with Binance and Drift’s impressive growth, the overall ratio of decentralized to centralized futures trading volumes held steady in July. The DEX-to-CEX ratio slightly declined from 7.78% in June to 7.77% in July, signaling a plateau in the broader market shift.

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Memecoin Trading Volume Breaks Records

According to data from CoinMarketCap, trading activity in the memecoin space soared in July compared to the previous month. On Thursday, July 11, daily trading volume topped $18 billion — the highest in the past 30 days. The second-highest daily volume came just days earlier, with $17.09 billion recorded on Saturday.

Top memecoins such as Dogecoin, Shiba Inu, and Pepe saw notable gains over the past week. However, the biggest weekly winners were Floki (up 45%), Pudgy Penguins (PENGU) with a 58% increase, and most impressively, Bonk (BONK), which surged by a staggering 72%.

Bonk’s Rally Fueled by LetsBonk Launchpad

A key catalyst behind Bonk’s explosive performance is the emergence of LetsBonk, a new Solana-based launchpad tailored for memecoins. On July 7, LetsBonk overtook Pump.fun — previously the dominant launchpad on Solana — in daily volume, disrupting the memecoin launch ecosystem.

In the past seven days alone, data from DefiLlama shows LetsBonk generated $8.25 million in protocol revenue, far surpassing Pump.fun’s $4.91 million. This sharp contrast signals a potential shift in dominance within the memecoin infrastructure space.

LetsBonk Takes the Lead in Volume and Market Share

Analytics from Jupiter, a leading decentralized exchange (DEX) aggregator, reveal that LetsBonk captured 51.9% of the launchpad market share in the past 24 hours, compared to Pump.fun’s 39.5%. In terms of volume, LetsBonk processed $838 million — beating Pump.fun’s $638 million.

However, Pump.fun still maintains an edge in several core metrics. With $29 million in 30-day protocol revenue, it remains the top-earning launchpad. Additionally, Pump.fun leads in daily active users with 413,000 traders, while LetsBonk trails with 275,000. In terms of liquidity, Pump.fun is still dominant, holding $510 million compared to LetsBonk’s $53 million.

Ethereum Rally Boosts Broader Memecoin Market

While Solana-based developments are driving much of the current memecoin boom, the recent surge in Ethereum (ETH) is also believed to be contributing to the broader altcoin rally.

At the time of writing, ETH was trading above $3,476 — marking a weekly gain of over 24%. This bullish momentum is likely lifting sentiment across the crypto market, including the high-risk, high-reward memecoin sector.

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