Ethena Labs、Jupiter 和 JupUSD：Solana 稳定币的新时代？

Ethena Labs 和 Jupiter 正在联手推出 JupUSD，一种 Solana 原生稳定币。此次合作旨在推动 Solana 的 DeFi 生态系统并挑战现有的稳定币巨头。

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

Ethena Labs、Jupiter 和 JupUSD：Solana 稳定币的新时代？

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!

加密货币爱好者，请戴好帽子！ Ethena Labs 和 Jupiter 这对充满活力的二人组即将推出 JupUSD，正在撼动稳定币世界。这种 Solana 原生的稳定币有望给 DeFi 领域带来一些热度。让我们深入了解吧！

What's the Buzz About?

热门话题是什么？

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 闻名，它正在与基于 Solana 的 DEX 聚合器 Jupiter 合作推出 JupUSD。 JupUSD 预计于 2025 年底或 2026 年初发布，旨在深度融入 Jupiter 生态系统，成为借贷、交易等领域的关键参与者。将其视为一种强大的稳定币，准备好迎接大联盟。

Key Integrations and Use Cases

关键集成和用例

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 不仅仅是另一种稳定币；它也是一种稳定币。它被设计为木星膨胀宇宙的核心组成部分。以下是它预计将如何掀起波澜：

• 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 背后的愿景

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 联合创始人 Siong Ong 认为，稳定币已经在链上世界中证明了其价值，并预计该行业将出现大幅增长。 Ong 表示：“JupUSD 代表着 Jupiter 进入游戏领域向前迈出了重要一步，在整个生态系统中创造更多价值，并确保 Jupiter 仍然处于所有 DeFi 领域的中心地位。”这不仅仅是创造另一种稳定币；这是为了增强 Solana 上的整个 DeFi 体验。

Ethena's Expanding Empire

埃西娜扩张的帝国

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 并没有止步于 JupUSD。他们的使命是扩大去中心化金融的影响范围。他们的合成美元 USDe 已经取得了重大进展，截至 2025 年 10 月锁定的总价值超过 148 亿美元。该公司还与 UR Global 合作，将 USDe 整合到他们的数字银行平台中，允许超过 45 个国家的用户直接在 UR 的 Neobank 应用程序中持有、兑换和消费 USDe。

The Future of Stablecoins on Solana

Solana 上稳定币的未来

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 的推出可能会改变 Solana 稳定币市场的游戏规则，该市场目前落后于以太坊。凭借 USDtb 的最初支持，以及随着时间的推移迁移到 USDe 支持的潜力，JupUSD 有望占据重要的市场份额。加密货币社区似乎非常兴奋，许多人对此次合作表达了看涨情绪。

My Two Satoshis

我的两个中本聪

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 之间的合作令人兴奋。 Ethena 在创建创新稳定币解决方案方面的专业知识与 Jupiter 在 Solana 上强大的生态系统相结合，产生了强大的协同效应。 JupUSD 有潜力成为 Solana DeFi 领域的基石。将 Jupiter 流动性提供商池中的 7.5 亿美元 USDC 逐步转换为 JupUSD 的举措是一项大胆举措，可以加速采用并巩固其在市场中的地位。然而，成功取决于监管的明确性以及面对市场波动时保持稳定和信任的能力。

Wrapping Up

总结

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，这就是你得到的，伙计们！ Ethena Labs 和 Jupiter 正在联手将 JupUSD 带给大众，未来看起来很光明。随着发布日期的临近，请密切关注更多更新。谁知道呢，也许 JupUSD 将成为您的加密货币投资组合中的下一个重要事物。在那之前，请保持好奇心，继续探索不断发展的 DeFi 世界！