Jup Lend is online for two weeks: On-chain data shows deposits reaching US$1.02 billion
Source: CoinWorld
Time: 2025-09-10 02:00:18
Jupiter’s Jup Lend protocol has gained momentum in Solana’s competitive DeFi lending market, attracting more than $1.02 billion in net deposits in two weeks since its launch on August 27. Earn contributed partly $344 million, mainly composed of stablecoins, including $260 million in USDC (75.7%) and $26.6 million in USDG (7.7%); while Borrow’s partial deposits amounted to $682 million and currently has $459 million in active funds. Although Kamino's lending market is larger, reaching $4.5 billion, Jup Lend's early Earn deposits exceeded Kamino's $321 million, indicating that retail investors and whale users have a high fit in the early stages of the product and market.