Solana-based decentralized exchange (DEX) aggregator Jupiter has acquired a majority stake in Moonshot, a self-custodial app that lets users buy memecoins using Apple Pay. The deal’s specifics remain undisclosed, but the announcement was made by Jupiter’s pseudonymous founder, Meow, during the project’s first community-focused conference, Catstanbul, in Turkey.
Moonshot has rapidly gained popularity, especially after the launch of Donald Trump’s “TRUMP” memecoin on January 18, which drove the app to the top of the U.S. App Store’s finance category. During the TRUMP token’s debut, Moonshot recorded nearly $400 million in trading volume, with its daily active users soaring to 1 million by January 20.
Jupiter is one of Solana’s largest DeFi protocols, and this acquisition aligns with its goal of expanding the ecosystem. As part of the announcements at Catstanbul, Jupiter also revealed plans to burn $3 billion worth of its JUP tokens and allocate 50% of income from trading fees to buy back JUP. This caused the JUP token price to surge to $1.27, boosting excitement within the community.
The acquisition follows a recent milestone for Jupiter, which completed an airdrop of 700,000 JUP tokens to over two million users. With Moonshot’s growth and Jupiter’s strategic moves, the ecosystem is poised for further innovation and adoption in the Solana DeFi space.
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