Ethena Labs、Jupiter 和 JupUSD：Solana 穩定幣的新時代？

Ethena Labs 和 Jupiter 正在聯手推出 JupUSD，一種 Solana 原生穩定幣。此次合作旨在推動 Solana 的 DeFi 生態系統並挑戰現有的穩定幣巨頭。

Ethena Labs, Jupiter, and JupUSD: A New Era for Solana Stablecoins?

Ethena Labs、Jupiter 和 JupUSD：Solana 穩定幣的新時代？

Hold on to your hats, crypto enthusiasts! The dynamic duo of Ethena Labs and Jupiter are shaking things up in the stablecoin world with the upcoming launch of JupUSD. This Solana-native stablecoin promises to bring some serious heat to the DeFi space. Let's dive in!

加密貨幣愛好者，請戴好帽子！ Ethena Labs 和 Jupiter 這對充滿活力的二人組即將推出 JupUSD，正在撼動穩定幣世界。這種 Solana 原生的穩定幣有望給 DeFi 領域帶來一些熱度。讓我們深入了解吧！

What's the Buzz About?

熱門話題是什麼？

Ethena Labs, known for its decentralized synthetic dollar USDe, is partnering with Jupiter, the Solana-based DEX aggregator, to introduce JupUSD. Slated for release in late 2025 or early 2026, JupUSD aims to integrate deeply within the Jupiter ecosystem, becoming a key player in lending, trading, and more. Think of it as a supercharged stablecoin ready to take on the big leagues.

Ethena Labs 以去中心化合成美元 USDe 聞名，它正在與基於 Solana 的 DEX 聚合器 Jupiter 合作推出 JupUSD。 JupUSD 預計於 2025 年底或 2026 年初發布，旨在深度融入 Jupiter 生態系統，成為藉貸、交易等領域的關鍵參與者。將其視為一種強大的穩定幣，準備好迎接大聯盟。

Key Integrations and Use Cases

關鍵集成和用例

JupUSD isn't just another stablecoin; it's designed to be a core component of Jupiter's expanding universe. Here’s how it's expected to make waves:

JupUSD 不僅僅是另一種穩定幣；它也是一種穩定幣。它被設計為木星膨脹宇宙的核心組成部分。以下是它預計將如何掀起波瀾：

• Collateral in Jupiter Perps: JupUSD will be used as collateral in Jupiter's decentralized perpetuals exchange.
• Primary Stablecoin: It will serve as a primary stablecoin for Jupiter’s trading interfaces and Jup Mobile.
• Liquidity Hub: JupUSD will be a major liquidity hub on Jupiter Lend.
• Liquidity Pairing: It will act as a liquidity pairing token on Meteora, a key DEX partner of Jupiter.
• Future Products: Integration into all upcoming new products within the Jupiter ecosystem.

The Vision Behind JupUSD

JupUSD 背後的願景

Jupiter co-founder Siong Ong believes that stablecoins have proven their value in the on-chain world and anticipates massive growth in the sector. "JupUSD represents a major step forward for Jupiter to enter the game, create more value across the ecosystem, and ensure Jupiter remains at the center of all things DeFi," Ong stated. It's about more than just creating another stablecoin; it's about enhancing the entire DeFi experience on Solana.

Jupiter 聯合創始人 Siong Ong 認為，穩定幣已經在鏈上世界中證明了其價值，並預計該行業將出現大幅增長。 Ong 表示：“JupUSD 代表著 Jupiter 進入遊戲領域向前邁出了重要一步，在整個生態系統中創造更多價值，並確保 Jupiter 仍然處於所有 DeFi 領域的中心地位。”這不僅僅是創造另一種穩定幣；這是為了增強 Solana 上的整個 DeFi 體驗。

Ethena's Expanding Empire

埃西娜擴張的帝國

Ethena Labs isn't stopping with JupUSD. They're on a mission to expand the reach of decentralized finance. Their synthetic dollar, USDe, is already making significant strides, with a total value locked exceeding $14.8 billion as of October 2025. The company has also partnered with UR Global to integrate USDe into their digital banking platform, allowing users in over 45 countries to hold, convert, and spend USDe directly within UR’s neobank app.

Ethena Labs 並沒有止步於 JupUSD。他們的使命是擴大去中心化金融的影響範圍。他們的合成美元 USDe 已經取得了重大進展，截至 2025 年 10 月鎖定的總價值超過 148 億美元。該公司還與 UR Global 合作，將 USDe 整合到他們的數字銀行平台中，允許超過 45 個國家的用戶直接在 UR 的 Neobank 應用程序中持有、兌換和消費 USDe。

The Future of Stablecoins on Solana

Solana 上穩定幣的未來

The launch of JupUSD could be a game-changer for Solana's stablecoin market, which currently lags behind Ethereum's. With the backing of USDtb initially, and the potential to migrate to USDe backing over time, JupUSD is poised to capture a significant share of the market. The crypto community seems pretty excited, with many expressing bullish sentiments toward the partnership.

JupUSD 的推出可能會改變 Solana 穩定幣市場的遊戲規則，該市場目前落後於以太坊。憑藉 USDtb 的最初支持，以及隨著時間的推移遷移到 USDe 支持的潛力，JupUSD 有望佔據重要的市場份額。加密貨幣社區似乎非常興奮，許多人對此次合作表達了看漲情緒。

My Two Satoshis

我的兩個中本聰

The partnership between Ethena Labs and Jupiter is exciting. Ethena's expertise in creating innovative stablecoin solutions, combined with Jupiter's robust ecosystem on Solana, creates a powerful synergy. JupUSD has the potential to become a cornerstone of the Solana DeFi landscape. The move to progressively convert $750 million of USDC from Jupiter's Liquidity Provider Pool into JupUSD is a bold move that could accelerate adoption and solidify its position in the market. However, success hinges on regulatory clarity and the ability to maintain stability and trust in the face of market volatility.

Ethena Labs 和 Jupiter 之間的合作令人興奮。 Ethena 在創建創新穩定幣解決方案方面的專業知識與 Jupiter 在 Solana 上強大的生態系統相結合，產生了強大的協同效應。 JupUSD 有潛力成為 Solana DeFi 領域的基石。將 Jupiter 流動性提供商池中的 7.5 億美元 USDC 逐步轉換為 JupUSD 的舉措是一項大膽舉措，可以加速採用並鞏固其在市場中的地位。然而，成功取決於監管的明確性以及面對市場波動時保持穩定和信任的能力。

Wrapping Up

總結

So, there you have it, folks! Ethena Labs and Jupiter are teaming up to bring JupUSD to the masses, and the future looks bright. Keep your eyes peeled for more updates as we approach the launch date. Who knows, maybe JupUSD will be the next big thing in your crypto portfolio. Until then, stay curious and keep exploring the ever-evolving world of DeFi!

所以，這就是你得到的，伙計們！ Ethena Labs 和 Jupiter 正在聯手將 JupUSD 帶給大眾，未來看起來很光明。隨著發布日期的臨近，請密切關注更多更新。誰知道呢，也許 JupUSD 將成為您的加密貨幣投資組合中的下一個重要事物。在那之前，請保持好奇心，繼續探索不斷發展的 DeFi 世界！