JupUSD is a stablecoin native to the Solana blockchain, developed through a collaboration between Jupiter and Ethena Labs. It leverages Ethena Labs’ comprehensive Stablecoin-as-a-Service platform and is underpinned by reserve assets safely maintained in institutional custody. At the time of its launch, the reserves include USDC and Ethena’s unique USDtb. This USDtb is a tokenized representation of the dollar that is secured by tokenized U.S. Treasury assets and is issued within a licensed, GENIUS-compliant framework.
The minting and redemption of JupUSD are executed through a carefully managed process that ensures a stable supply tied to these reserves. Importantly, JupUSD does not generate yield for its holders. Any modifications regarding the reserves, custody practices, or minting and redemption processes are transparently communicated through official channels from Jupiter.
It is essential to note that JupUSD is not designed as a yield-bearing stablecoin.