Jupiter Temporarily Raises Default Gas And Slippage To Address Market Volatility
In Brief
DEX aggregator Jupiter increased its default gas and slippage settings for the time being to help users complete their transactions smoothly.
Decentralized exchange (DEX) aggregator Jupiter (JUP) announced an increase in its default gas and slippage settings for the time being. This adjustment is intended to help users complete their transactions more smoothly.
Usually, these settings are kept conservative to help individuals save money during stable periods. However, during the current volatile conditions, they seem to be too low, leading to issues for users. Additionally, in a social media announcement on platform X, Jupiter expressed regret and stated that its team intends to further review and change the settings as needed.
Slippage constitutes a difference between the anticipated trade price and the actual price recorded when the trade is executed. It can happen at any time but is more common in periods of high volatility, especially with market orders. Slippage can also occur if a large order is placed and there isn’t sufficient volume at the selected price to sustain the bid and ask spread. Meanwhile, gas refers to the fee that users of specific blockchain protocols pay to network validators whenever they perform a function on the blockchain.
The DEX aggregator’s undertaken measures represent a response to the recent decline in the broader markets, which has raised severe concerns among market participants.
What Is Jupiter? A Solana-Based DEX Aggregator
Jupiter provides multiple services, encompassing a Swaps tool, a Payments Application Programming Interface (API) for setting output token amounts, Limit Orders, as well as Dollar-Cost Averaging (DCA) options. The platform’s native token, JUP allows community members to participate in the approval, sanctioning, as well as voting processes related to all aspects of Jupiter’s operations.
Recently, the platform announced that its community has voted in favor of a suggestion to decrease the JUP supply by 30%, receiving a 95% greenlight rate. As a result, the total supply of JUP tokens will be lowered from ten to seven billion.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
