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What is JLP?

The Jupiter Liquidity Provider (JLP) Pool is a liquidity pool that acts as the counterparty to traders on Jupiter Perps. When traders open leveraged positions, they borrow tokens directly from this pool. The JLP token is minted to users who deposit assets into the pool. It represents your share of the pool and accrues value over time as fees are generated by trading activity.

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What Gives JLP Its Value?

The value of JLP is derived from three sources:
  • An index of the pool’s underlying assets: SOL, ETH, wBTC, USDC, and USDT
  • Trader PnL — when traders lose, those losses flow back into the pool
  • 75% of all fees generated by Jupiter Perps (opening/closing fees, price impact, borrow fees, swap fees)
The remaining 25% of fees goes to Jupiter as protocol revenue.

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Pool Composition

The JLP pool holds five assets across five custody accounts:
AssetCustody Account
SOL7xS2gz2bTp3fwCC7knJvUWTEU9Tycczu6VhJYKgi1wdz
ETHAQCGyheWPLeo6Qp9WpYS9m3Qj479t7R636N9ey1rEjEn
wBTC5Pv3gM9JrFFH883SWAhvJC9RPYmo8UNxuFtv5bMMALkm
USDCG18jKKXQwBbrHeiK3C9MRXhkHsLHf7XgCSisykV46EZa
USDT4vkNeXiYEUizLdrpdPS1eC2mccyM4NUPRtERrk6ZETkk

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How to Get JLP

JLP can be acquired in two ways:

Jupiter Swap

Swap any token for JLP via Jupiter Swap. This is the recommended method for most users and typically offers the best execution.

Earn Page (Mint)

Deposit assets directly into the pool via the Earn page. This mints JLP tokens directly from the pool. Fees apply depending on the asset deposited and its current weightage in the pool.
To exit, JLP can be swapped back via Jupiter Swap or redeemed (burned) directly through the Earn page.
Any asset tradable on Jupiter can be used to acquire JLP via swap. There are fees associated with minting JLP directly from the pool — see the Earn page for details.

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JLP Products

The JLP token is the foundation for several products:

JLP Earn

Hold JLP and passively earn yield from Jupiter Perps trading activity.

JLP Loans

Deposit JLP as collateral to borrow USDC while maintaining JLP exposure.

JLP Delta Neutral

A managed vault strategy that hedges JLP’s directional exposure, powered by Neutral Trade.

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Risks

JLP is not a stablecoin or a capital-protected product. Its value fluctuates with the underlying pool assets and trader PnL.
  • If SOL, ETH, or wBTC prices fall, JLP value may decrease
  • If traders are profitable, their gains are paid from the pool, reducing JLP value
  • Smart contract risk exists — the protocol is audited but no audit eliminates all risk
Only allocate funds you can afford to lose.