The Problem: Billions in Idle Capital
JLP currently includes SOL, ETH, and WBTC with SOL making up around 47% of the entire pool.
The issue?
That SOL is not staked , meaning JLP holders are losing out on massive staking yield potentially worth tens of billions of dollars annually across the ecosystem.
The Solution: Swap SOL for JUPSOL
By minting raw SOL for JUPSOL (or another liquid staking token), Jupiter can:
- Capture staking rewards and redirect them to JLP holders
- Improve network security by increasing the amount of staked SOL
- Do all of this without reducing liquidity or flexibility
Yes, it may slightly affect internal dynamics like funding rates, but over time, the net benefit is undeniable.
Next Step: Replace WBTC with zBTC
WBTC is outdated and wrapped via Ethereum-based bridges we can do better.
zBTC is built natively on Solana by Apollo. It’s trust-minimized, smart-contract-based (in Rust), and eliminates the risks associated with multisig bridge custody.
Rust contracts are more secure than Solidity ones, and zBTC is already live and working.
Switching to zBTC also supports the broader Solana ecosystem Apollo even launched from Jupiter’s launchpad.
Why This Matters
JLP is one of the largest retail liquidity instruments in Solana DeFi. Upgrading it with JUPSOL and zBTC would:
- Increase long-term yield for holders
- Improve capital efficiency
- Support Solana-native solutions
- Align incentives between Jupiter, its users, and the broader ecosystem
Conclusion
There’s no reason not to make this move.
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More yield
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More security
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More decentralization
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Less risk
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Stronger ecosystem alignment
Let’s evolve JLP from passive to productive capital.
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