Jupiter, a leading decentralized exchange (DEX) aggregator on the Solana blockchain, has announced a $35 million strategic investment from ParaFi Capital. The investment, made in Jupiter's native token, $JUP, is aimed at accelerating the development of its onchain financial infrastructure.

The entire deal was settled using $JupUSD, a newly launched stablecoin, at the spot price of the token. As part of the agreement, ParaFi Capital has committed to an extended lockup period for the acquired $JUP tokens, signaling a long-term partnership.

This move by ParaFi, a notable investor in the decentralized finance space, underscores growing confidence in the Solana ecosystem and Jupiter's role within it. The focus on building out onchain infrastructure suggests a strategic push to enhance the capabilities and reach of decentralized financial products.