What is JUICED
JUICED is the JL Token you receive when depositing JupUSD into Jupiter Lend’s Earn product. Like other JL Tokens (jlUSDC, jlWSOL), it represents your share of the lending pool and accrues yield over time. What makes JUICED different from other JL Tokens is that it earns from two yield sources instead of one: borrowing interest from Jupiter Lend (like all JL Tokens), plus Treasury Bill (T-bill) yield from the reserves backing JupUSD. JUICED is a standard Solana Program Library (SPL) token that lives in your wallet. You can hold it, transfer it, swap it, or use it as collateral to borrow on Jupiter Lend. Mint address:7GxATsNMnaC88vdwd2t3mwrFuQwwGvmYPrUQ4D6FotXk
How to get JUICED
- Swap
- Deposit via Earn
Buy JUICED directly on Jupiter Swap. The aggregator routes through the deposit automatically, so you get JUICED in a single transaction without manually depositing into Earn.
How JUICED works
Vault share model
JUICED works like other JL Tokens: it follows a vault share model. The JUICED/JupUSD exchange rate increases over time as yield accrues. When you withdraw, you receive more JupUSD than you deposited, proportional to the yield earned during the period. There is no lock-up. Withdrawals are usually instant, but they depend on the JupUSD available in the pool and on Jupiter Lend’s withdrawal limits: when most of the pool is borrowed, a large withdrawal may have to wait or be split. You can also swap JUICED at the market price.Two yield sources
Unlike standard JL Tokens that only earn borrowing interest, JUICED accrues yield from two sources. Both are reflected directly in the token price. Borrowing interest: when users borrow JupUSD on Jupiter Lend, they pay interest. This interest is distributed to JUICED holders, just like any other Earn pool. The rate is variable and depends on the JupUSD pool’s utilization rate. T-bill yield: the reserves backing minted JupUSD (primarily Ethena’s USDtb, backed by BlackRock’s BUIDL fund) generate T-bill yield. This yield flows to the JUICED holders through Jupiter’s rewards distributor. T-bill yield is generated by the reserves backing the total minted JupUSD supply, not the total JUICED supply. If the JUICED supply exceeds the minted JupUSD supply, the T-bill yield per unit is diluted. For a detailed explanation of this mechanic, see Yield dilution in the JupUSD documentation.There are no additional fees on JUICED yield beyond the standard 10% reserve factor applied to borrowing interest across all Earn pools.
Using JUICED as collateral
JUICED is accepted as collateral on Jupiter Lend. This means you can earn yield on your JupUSD position while simultaneously borrowing against it.Supported borrow assets
JUICED can be used as collateral to borrow USDC, USDT, or USDG on Jupiter Lend, one vault per debt asset. The JUICED / USDC and JUICED / USDT vaults are winding down (see the warning above). The list can change: the vaults shown on the Jupiter Lend Borrow page and the Statistics page are the reference.Parameters
The collateral parameters for JUICED (Loan-to-Value, Liquidation Threshold, Liquidation Penalty, and borrow caps) are managed by the protocol and may be updated over time. The values currently in effect are visible directly in the Jupiter Lend interface when you open a JUICED vault, and on the Statistics page. For definitions of each parameter, see Protocol Details.View current parameters
Definitions of LTV, Liquidation Threshold, Liquidation Penalty, and other vault parameters used across Jupiter Lend.
How borrowing against JUICED works
When you supply JUICED as collateral and open a borrow position:- Your JUICED tokens continue to accrue yield (both borrowing interest and T-bill yield) while locked as collateral.
- You receive the borrowed asset (e.g., USDC) in your wallet.
- Your position is monitored against the Liquidation Threshold. If the value of your JUICED collateral drops relative to your debt, the position may be partially or fully liquidated.