Bitwise x Ethena x Jupiter Lend, New Mobile Look, and More | Jupiter Planetary Call

Indexé : 2026-05-21

[00:00:03][music] Wednesday up 3:30 on live for life [music] for life. No flip flip. Ain't no PvP.

[00:00:17]I'm preaching PP. Yeah. Roof raise.

[00:00:20]Where it at? [music] Where it at?

[00:00:23]Wednesday running back. That's a W [music] in the choo.

[00:00:30]just [music] come to the verse cash on the mic now on the line. Soldier pulling [music] bad is lady killer every time Mr. President sliding whole planet aligning engineers up [music] all night the future they designing mobile in my pocket that's the trench in my hand from the trenches to the moon that's the only plan if you holding [music] purpose if you bing predict where it's going I already told them spin the back car swipe jump us the keenest order book no middleman between us cooking on the chain ain't even if it ain't verified real ones [music] know the difference that's why I'm crystizing on chain you do it on Jupiter just use Jupiter [music] Ain't nobody better life. No flip flip. Ain't no PvP. No, I'm [music] preaching PB. Yeah.

[00:01:21]Where it at? Where it [music] at? Where is running back? It's a W in the [music] just cat felt like a movie. Cat lumper felt like home. Thousands beat every [music] nation. I ain't never been alone. The summit was the proof. We reading from a print. Future [music] of onchain finance. Every cat in the script.

[00:01:49]Academy in session. Every [music] cat going to graduate on chain media rising.

[00:01:52]That's the new estate. Storytelling on the ledger. Every truth can propagate.

[00:01:55]JM in the morning. G [music] when it's late. OG stat is still up on the path.

[00:01:59]No fade. Cat is doing heavy lifting.

[00:02:00]That's how made whole [music] on the map. Cat in the back. No one ships like us. Leave them in the dust.

[00:02:09]That's facts. Use Jupiter [music] Jupit Wednesday. [music] [music] [music] Now slack [music] jam on fly pocket on planet planet on cat got the bag at the moon back at the talking too soon roof keep raising [music] bra keeping hold you reverse and it's amazing slime on the timeline time on my side cat [music] in the jet chat multiply >> real ones [music] know the rest ain't no preaching [music] PP where it at money back [music] in the chain [music] you come to the Jupiter like [music] flip flip ain't no PBach [music] come to the universe.

[00:03:41]>> [music] >> Hello, hello, hello and welcome to the planetary call.

[00:03:58]Yo, what's going on everybody? That was my first time hearing that song. I think we might have to drop a little W in the chat for that one. Satchel. My god, you guys cooked on this thing. Uh, I got a new ringtone, a new morning alarm, a new uh thing that I'll recite like a mantra or prayer every morning. Uh, pretty good. Pretty good stuff. Shout out to Lenny as well uh for putting that together. That is good stuff, my friends. Hello. Hello. Hello. And welcome to this the Jupiter planetary call. My name is Cash Donna. It is a pleasure to be back. I'm going to share my screen and then I swear on everything that is holy. We're going to get going just about now. Yes, thank you, uh, Scarlet. I appreciate the kind words. I did get a new beard trimmer and I did overtrim my beard and I do feel like a little baby. Uh, so thank you for the for the kind words. Uh, we got a fun one for you today, folks. Let me promise you this. It is May 20th. In case you are new around here, uh, this is what I actually look like. Uh, thank you to whoever made this on the timeline. Uh, you have ruined my day and my wife's impression of me forever going forward.

[00:05:01]Uh this is the Jupiter planetary call.

[00:05:04]The basic idea of this call, we're still kind of trying out this new format where we're trying to get you up to speed with everything that matters in the markets and everything that is happening in the world of onchain finance. So we took some of the feedback from last time, made a few little edits. We'll have some more edits going forward. It's going to be iterative process. I can promise you that. But every two weeks, we're going to get together, share some news, share some updates, share some alpha, uh and hopefully have a god good goddamn time over here as well. Uh Patrick says, "Jubnet update when?" Soon is the answer to that question. [laughter] What's going on for Yes, this is indeed the cursed cash. This is what you see uh when I haunt your nightmares. Uh is this guy right over here [laughter] before the vent said that pick is before cash is turkey visit. Yay. You know, this is post turkey actually. This is what I look like, you know, uh nowadays. Uh are you going to be a rich master damn project? Well, I think so. If you are watching this right now, then yes. I as the the pope of onchain finance, bless you. You will be in fact rich over time.

[00:06:03]Uh what's going on RJ Carnage uh southern always a pleasure to see you.

[00:06:07]Okay, you're welcome Patrick. All right, cool. This is what we're going to cover today. It is going to be a lot of fun.

[00:06:11]We got state of the markets. So covering some of the things that are happening across the world of onchain finance and offchain finance. At this point, if you don't already realize, crypto markets are downstream of macro markets. So we want to have some more of that in here so you can get a get some context on where the markets might head. Then we're going to talk about this past Fortnite in the Jupyverse. Some cool things that have shipped that you might have missed.

[00:06:31]Then very special guest coming on today.

[00:06:34]Mr. Jonathan Man from Bitwise is here to join us to talk about Bitwise, how they view the future of onchain finance and of course our massively successful, wildly successful, honestly a little bitly surprisingly successful uh isolated market with Athena and Bitwise running up to past $500 million in like four days. been fully sold out the entire time since then. After that, we have X to the Z exhibit aka XZ here from the mobile team to talk about the new mobile design and get some of your feedback live before we head into more money less problems. Going to do some alpha drops there, give you some ideas of some places that you might look to if you're trying to earn a little bit more on chain. So, definitely stick around until the end for that one. And then finally, we will end with meme madness.

[00:07:20]And Melissa says, "Anyway, is that your house? the background. KB AI.

[00:07:25]Wow. Thank god I was wearing pants this time, huh? That worked out really well.

[00:07:29]Uh, but yes, this is actually my my house. Shout out to my wife for helping make this look so lovely. U cool. With all that said, we're going to get going here. If you just got here, please drop a little jam in the chat. Let people know that you're here. Let's make a nice friendly warm uh environment as we go through the state of the markets. It is, in fact, not too early, Scarlet. It's never too early to make uh popp jokes.

[00:07:52]So please, Shri is the one running the the comments right now. She hates POA apps, but we're going to bring them back if enough people yell at her. If you yell, just give us po apps. She's going to have to put them back. Legally, she'll be obligated. Okay, what's been going on in the markets? Well, the last 24 hours have been interesting. Uh Bitcoin around 77,000 right now. ETH just over 2,000. Soul 85. Uh gold staying relatively flat at four and a half. Crude oil up past 100 uh again, which is not great. Uh but JUP up 9.4% in the last 24 hours. We love to see it.

[00:08:24]It's great stuff. Shout out to all the Jup holders out there. Uh these are the six majors. You know, gold and Jup basically the same as you could tell.

[00:08:33]Thank you, Scarlet. There we go. U this is the what you're kind of seeing generally is things are kind of flat to slightly up these days, although it's changing kind of by the day as we go through. New section here. Shout out to our friends over at Block Works and Coin Gecko for getting this data over the last seven days looking at some indices to see what kinds of projects on chain are doing particularly well or not so well. Uh the leader of the pack of course are PEPS. So perb space based projects up 17% over the last seven days. Dex is up 10%. Layer 2's I'm gonna pause on that one. I don't know how that got in the deck but up 9%. Uh Deepen also up eight 8.4. Barland up 8.2 and memes up about seven. So what we're seeing right now is applications that are focused on trading ending up leading the way right now. Of course, trading is still the dominant use case of onchain technologies. Uh but seeing some good growth across some other key sectors as well. Uh so you definitely want to as an investor, if you are buying tokens in crypto, you want to think in these kind of thematics oftentimes rather than trying to buy just the single token that's going to go up. More often than not, if you can buy a kind of broad exposure across a particular sector that you think is going to grow, let's say borrow lend for example, you're going to end up having stabler returns in many cases. And so we want to kind of like highlight this. I think this is an underappreciated investment strategy where most people on chain are just kind of yoloing into individual tokens, not necessarily thinking about it as a kind of consolidated approach. Also, I'm glad you like this pork, but let me be very clear. This is not financial advice. I am not a financial adviser. All that kind of good stuff. uh baskets on Jupiter. If enough people ask for it on Twitter, then yeah, we'll make it. I think that we probably could easily make it. Somewhat easily make it. Yeah, maybe we should make it. I don't know. Do people want that? Do people want baskets of If we had a token that was like uh borrow lend tokens as an index, would you buy it? Folks in the chat, are we going to use this as product development right now? U likes it and Adam's a smart guy. Uh so if he likes it, then I like it too. We uh we might take a look at that if other people are interested too.

[00:10:29]Uh a few things to note about the kind of markets overall here. First is an a major change actually from the beginning of this year that you should be aware of if you are participating in markets which is we are now pricing in a Fed rate hike rather than rate cuts. Coming into the year we were expecting to have two rate cuts actually this year. This is what you were seeing across prediction markets and prices of all sorts of different financial assets. The federal interest rate of course is the primary interest rate that matters on the treasuries that affects everything downstream of it. Uh normally when the rates go down, growth gets higher. Uh because people instead of parking money in treasuries will end up reinvesting it into other productive areas of the economy. And then when rates go up, typically you see growth go down a little bit. They are inversely related since more capital will just go into higher yielding treasuries. Uh this has been uh you know a surprise to a lot of people who are watching this. As I say, at the beginning of the year, we were expecting two rate cuts over the course of the year and now we're looking at a hike. Why? Well, quite honestly, it all comes down to the bombs that are blasting above my head from time to time here in Dubai. Uh, the Iran war, right?

[00:11:33]So, about 40% of the inflation that we saw in April can be directly attributed to energy prices. And the tough thing about energy is that it ends up being a tax on the entire economy. When energy prices go up, shipping is more expensive, manufacturing is more expensive, uh, airlines, utilities, all sorts of things go up in price, which makes it harder. uh it kind of overheats a little bit on the economy and this is something that is not great and so kind of battle some of this inflation the Fed might have to do a rate hike. If they do a rate hike you might expect to see lower growth. You might again not financial advice but you can take a look. Uh just join with Cash's beard already a topic. Yes it was Will. I did get a new beard trimmer. I did accidentally trim too much. My wife looked at me with shock yesterday as I did two podcasts looking like a 12-year-old. Thankfully I'm hairy as [ __ ] So it's grown back a little bit more but it was non-existent yesterday.

[00:12:22]It was very scary. Anyway, that's in addition, uh, you know, my beard is not going to cut get cut anymore and Fed rates are also probably not going to get cut now is what you can see going forward. In other kind of macro news, it definitely affects crypto. The Clarity Act has cleared the Senate Banking Committee. This is a huge deal. Many people say could not be done. Of course, this is just the first step. If you missed it, we actually have some nice videos on YouTube explaining what clarity is all about, where it actually means. In short, it makes it much easier. It provides clarity. It's a good name. I will say Trump and his team very good at naming things. Uh this is a way for people to know who are the regulators for which parts of the industry. It makes it much easier for people to operate uh in the open. Uh after this, it's going to hit the Senate floor. If this passes the Senate floor and the House, I think you can expect to see a ton of innovation in the crypto sector. If you are in the US and you can call your politicians or donate or whatever else it is to make this happen, this is extremely bullish for the industry uh if this actually goes through. So, I definitely think people should uh be aware of this. Uh, one other piece of macroeconomic [laughter] news I think is kind of crazy. Uh, Koreans's Cosby uh is up 189% in the last 12 months. This is just absolutely wild. Uh, to the degree that people are trading in Korean markets, you would know this, but Samsung and SK Highix both in the AI chip space absolutely blasting upwards. What you're seeing and what this kind of indicative of of other markets outside of the US seeing extreme growth right now. I think Israel's uh stock market is also up dramatically as are a few other places. Those of you hunting alpha might be worth looking at what other parts of the AI supply chain might be constrained and which countries might have players that can really affect that. Uh what's going on here? I don't know if I'm your dad or someone else is. In the Salana specific news, new all-time high on Salana RWAS 2.8 billion. That's a W in the chat I do believe. Uh this is very very good news.

[00:14:15]Growing over 12x in the last 16 months.

[00:14:18]Unbelievable. Shout out to my guy Nick Dukeov and many other people at the Sonic Foundation making this happen along with great people across the ecosystem. My favorite part of this though, 98% of all tokenized equity spot trading is happening where it's happening on Salana obviously. Uh and if it's happening on Salana, it's largely happening on Jupiter as well.

[00:14:36]Let's just put that out there too. Uh but we love to see this. Uh per DEX has been growing like crazy. 20 billion in weekly volume is pretty wild. all-time high uh for Salana and stable coins are up past 300 billion now uh which is incredible. 28 trillion dollars in transfer volume in Q1. 28 trillion.

[00:14:53]That's nuts. Uh so these are all good signs for more liquidity, more activity coming on chain. Uh speaking of tokenized equities and equity markets in general, wanted to do a quick debrief on tokenized equities because we just announced something here and it's a trend you should really be paying attention to. The point of this section is to give a rapid little not really a deep dive, a shallow dive into a single topic that people are talking about that you should know about too and tokenized equities fits that model for sure. Uh it is indeed very very bullish. Uh so here's what's just happened uh that I think a lot of people did not expect to see. The SEC is opening the door to tokenized stocks. SEC PO Chair Paul Atkins is about to release an innovation exemption that would let crypto platforms offer tokenized US stocks crazy under a lighter regulatory framework. What does that actually mean in practice? It means that you will be able to buy real US stocks onchain relatively straightforwardly.

[00:15:50]Previously, this has been blocked by a few things like broker dealer rules and other kind of unclear legislation. The tokenized stocks that you see on chain are largely meant to be traded outside of the US due to some regulatory uh exemptions that are provided for non US-based equity trading. Inside the US, it's still been quite difficult from a regulatory perspective. Why does this matter? Well, there are maybe you've heard trillions of dollars of equities in the US market that people all around the world want to trade and I don't know tens maybe hundreds of trillions of dollars of volume happening there over the course of the year, right? Massive mass. It is the largest market in the history of mankind and it might now be able to come on chain. We're starting to see the initial kind of signs here, right? Tokenized stocks themselves are already growing fast, up 30x uh in 2025 alone now at almost a billion dollars in January across all chains. Primarily, this is dominated right now by our partners. Uh you can buy anyo things through Jupiter. Xtocks, which is that one by Kraken, also a great partner. You can actually use X stocks on Jupyter Lend as well as collateral and now securitize increasingly entering the race uh as well. We do have a great stock screener on Juke.ag. So if you want to buy stocks from anywhere in the world fully on chain using stable coins, you can pretty easily do that. But here's the important thing to note.

[00:17:05]These right here, Ono Xtos, they give you access to the price action but not the underlying voting rights, not the underlying kind of ownership. Your name is not held in a central registry anywhere. That's what allows these to be used permissionlessly all across DeFi, which is great. Uh, but there are indeed a lot of investors who want those underlying uh voting rights, who want to make sure that their name is on the ledger. And that is what this is going to start to open up. We're seeing that Salana is already the home for tokenized stocks. Three billion dollars in onchain transaction volume by January 26. You know, more than 50,000 holders. Pretty incredible. As I mentioned before, 98% of all tokenized stock activity happening on Salana. Uh but the next step where things start to get really interesting is a partnership that we've entered into at Jupiter with securitize and jump trading. Massive deal. Massive deal. These guys are are obviously Securitize and Jump. Two of the best names in the space. Uh what you're going to be able to do very soon is actually trade fully on chain full regulation real ownership of the stocks through Jupiter using stable coins on Salana.

[00:18:06]Due to this partnership, the hope why does this even matter, right? Why are we talking about this? One, there's plenty of real institutional money around the world that will want to use onchain rails to buy these rather than kind of brokerage accounts. They might want to do those for a bunch of different reasons, not the least of which being stable coins, their ease of moving all around the world, instant settlement, etc. Two, it's going to bring more people on chain in the first place, right? People really like to trade US equities and now if you can do that in a fully legally compliant way, it's going to be pretty incredible. And three, the liquidity depth is going to be great.

[00:18:35]Now, once we have regulatory clarity, it makes it much much easier for these things to really be, you know, as good as buying them in traditional venues.

[00:18:43]You're going to be able to do that on Jupiter. This is a major thing to watch.

[00:18:47]My hunch over the next 6 to 12 months, tokenized equities is going to be one of the biggest talking points on Bloomberg, CNBC, and everywhere else. And the players that are in that race are going to benefit disproportionately. And you already know it's Jupiter at the lead of the pack there. This is a very, very fun one. Shout out to our friends at Securitize and Jump for making this happen. Tokenized stocks, big deal. Keep an eye on it both for your own investing purposes, but also as you're thinking about other projects that might be able to touch this. Uh coming up here as well, uh this is really starting to move here from a pilot to real market structure. Uh securize, think about going public via NASDAQ listing as well.

[00:19:22]Uh the key thing to watch though is liquidity and how the liquidity model really works, especially as more of these things come on chain. Uh, but I think that there's some ideas that uh, jump Securit High and Jupiter have to help solve this. You'll have to stay up uh, stay up to date on that one. All right, I'm already like out of breath from uh, going through all that news.

[00:19:41]Those are the state of the markets.

[00:19:43]That's what's going on in tokenized equities. Let's talk about the Jupiter verse a little bit. Uh, folks that are actually in the Jubver. The temp on Jupiter is very hot. That is very cool.

[00:19:52]Uh, do we get dividends on chains at SV?

[00:19:55]You will indeed. Yes, because your name will be fully uh, registered. I mean it'll depend a little bit on who's offering the product and how they offer it. Uh but yes in in theory from a regulatory perspective that is exactly what would be available. Uh the $200 billion shadow stock market cover yes basically sharing DRS's shares on chain.

[00:20:13]I don't know what that means Squig but I'm sure the answer is yes. Uh okay cool. So with that uh all said let's go into what's going on in the Jubverse itself. What you might have missed. The biggest news the biggest news across crypto. Shout out to Alicia Slugman, the rest of the marketing team uh on doing just a bangup job. This was everywhere.

[00:20:32]I got so many pings about this. Bitwise, one of the best asset managers in the world, one of the just to put it in context, Bitwise uh issues ETFs and other products. They have more assets under management than all of the TVL on Salana. Just to put that in context in terms of how big they actually are. This is their first major foray into onchain finance uh and actually directly working on chain. We have Jonathan here to talk about that in just a few minutes. So, you're going to hear more about this, but the market with Athena, Jupiter Land, and Bitwise live right now. Race stuff. Yeah. W in the chat says, uh, Jupan, whatever W is in Spanish is what we're going to hear. 500 million. And by the way, Jupiter Land crossed two billion dollars in total market size as a result of this deal, which is incredible.

[00:21:15]I tweeted, actually, I did tweet big week as well. Occulture, that is true.

[00:21:19]Uh, but I tweeted when we first passed the billion in eight days, something like the first billion is the hardest.

[00:21:26]Turns out I was [ __ ] wrong. It's the second billion that is the hardest. Took us a lot longer to get to two billion than it did to 1 billion, but we are there now and I don't plan on giving it back. Uh, so let's see what happens.

[00:21:35]Other things that have been going on across the Jubverse, Jupiter Mobile got a facelift. Sexy design. That is I saw the new design, went, "Oo, that's a that's a good good look." We're going to talk to XZ about that in a little bit as well. Uh Metis got a massive upgrade.

[00:21:49]This just came out today. Menace V8.

[00:21:52]People should go dig into this. If you don't already know, Metis is our primary router. When you trade on Jupiter with Ultra, you get access to our router along with other routers as well, including Jupiter Z and other things like that. Uh but Metis is our singular router, and it is the best in the business. And it just got even better.

[00:22:07]It's done trillions of dollars in volume in its lifetime. But now we kind of purpose-built the next iteration to focus on reducing what we're calling the quotation execution drift. That is the difference between the number you see when you try to buy something, the quote that is shown and the actual amount of tokens that end up in your wallet.

[00:22:25]Depending on how long you take to sign those transactions or depending on kind of different games or different qualities of routers that you might be using, that drift is going to get bigger and bigger. With the new Metis V8, which you can get by trading right through Jupiter, you we use slippage penalties just in time onchain finalization. Sub two slot latency infrastructure. Huge deal. Incredibly uh incredibly complex stuff and rapid quotation mode to make sure that you're getting the best execution price possible every single time. SV is Jupiter spend for Europe still planned for the end of May?

[00:22:57]Inshallah. It might be a little bit beyond that. We're still, you know, it's not only up to us, unfortunately, but we're starting to to make it happen. Uh, but good things starting to come. As Scarlet says, compare execution, not quotes. Quotes are much easier to game than execution. And Metasv8 focuses on execution. Huge deal. Uh, and what you'll see in the interface for drip.

[00:23:16]Maybe you already saw it here.

[00:23:18]Guaranteed price and just in time indicators on the swap to give you more of that transparency on quotes and execution quality. So, if you see that guaranteed price, that is the execution.

[00:23:26]We know you're going to get no drift whatsoever. 0%. That is the good stuff.

[00:23:32]Uh on Jupiter Predict, we shipped a new feature as well for NBA uh lovers out there. NBA point spreads and overunder outcomes are now alongside regular moneyline predictions. Shout out to Julian Wit and KK. Those boys have been grinding on Jupyter prediction markets.

[00:23:47]Uh and of course the wallet itself got so much better. If you use the Jupiter wallet extension wallet, drop a little W in the chat for me right now. I need to I need to see who here is smart and who here is not. Uh because it is the best wallet in the game by far. Shout out to my guy Ian. Just been cooking, cooking, cooking on this one. Stricter spend limits now and auto approved. Smoothing send in swap flows. P tokens integrated inab banners for the alpha. Yeah. Okay.

[00:24:10]I see that the chat is uh is very wise, which makes sense. If you're here, then you should be using uh the Jupyter wallet. It is too too good. Shout out to Ian and Aaron, of course. If you haven't already, go download it. It is amazing.

[00:24:21]You will never look back. It's cheaper.

[00:24:23]It's faster. It's more fully featured.

[00:24:25]It's the best. Uh and then one quick note on limit orders and DCA V1s. We launched V2 in the last few weeks which gives you shielded uh kind of protection so people can't frontr run you. Uh so limit order V1 and DCA V1 are being deprecated. You can still manage your existing open positions but going forward all new orders are on V2. Just wanted to make that uh make that clear to everybody here. Okay. U the best feature in the token V1X freaking mark is correct as usual. If you have the Jupiter wallet every time there's a little uh ticker tag on Twitter you can just hover over it, see the chart instantly trade it. Absolutely killer.

[00:24:59]Love it. Love it. Love it. Speaking of things I love, let's bring on our first guest. Let me stop yapping so much. My goodness. Uh it's a lot to go through.

[00:25:07]Our next guest is a is a new friend of ours. I got to say big shout out to our friends at Fluid and Bishaw in particular for brokering this for playing Cupid uh to bring this all together. But I'm going to need everybody who's watching this right now.

[00:25:18]It's his first time on the planetary call. Please drop a very warm JM in the chat for our guy Jonathan Man. Jonathan, how you doing, buddy?

[00:25:28]>> How's it going? Amazing to be here.

[00:25:31]>> It is great, great, great to have you.

[00:25:34]Head of multi strategy solutions at Bitwise over on the planetary call. What a time to be alive. They said it would never happen. This is uh as you can see the chat is very excited about this as well. [laughter] Big big deal. For people who don't know about Bitwise, can you give a quick intro? What is Bitwise? What kind of traction have you guys seen so far?

[00:25:51]>> Yeah, for sure. Bitwise, um I think most people know us as like the as an ETF issuer and that is our biggest business by far. We are we issue ET uh ETFs, ETPs in the US and um in in Europe as well.

[00:26:06]Uh but we also have an onchain um business where we're staking. We have we run a staking as a service business. We stake across multiple chains. Um and then we have an active trading business where we do um derivatives trading um run SMA strategies for and and kind of derivative overlays for for large crypto holders. Um and now uh also have a onchain uh vault curation business. So uh and I lead that effort. So yeah, super exciting times. Super exciting.

[00:26:38]>> Super exciting. Not bad. Your uh your vault curation business up $500 million in a week.

[00:26:43]>> Yeah. I wonder what happened.

[00:26:45]>> [laughter] >> Those are the kind of numbers and charts we like to see. Yes, we do indeed like the vaults and I definitely do want to talk a little bit more about the vaults uh in a little bit. But obviously uh you know you me be dh the whole gang worked very closely on getting this live. It was exciting. Let's just say uh people maybe someday over drinks we can talk about the behind the scenes of uh what all got us here. Definitely an intense little sprint but we did get there. If I'm not mistaken, it's your guys' first time in a major way kind of doing some bald curation. I think you've done a little bit with Morpho in the past, but certainly the first time on Salana and the first time at this scale if I'm not mistaken. Is that right?

[00:27:21]>> Yeah. No, this is this this is like our biggest win uh so far and our biggest kind of foray into Salana in particular.

[00:27:29]So super excited. I mean like you know this this partnership brought together some really big heavy hitters, right?

[00:27:35]like you know you guys Jupiter biggest uh super app on Salana, Athena the biggest uh uh yieldbearing uh stable coin issuer and then us you know we're just we're so excited for product and you know it's doing great you know generating some fantastic yields and uh couldn't be happier.

[00:27:55]>> Yeah, if you're watching this we need more USDG there. It's been fully maxed out. We have like whatever $250 million it's all vacuumed up. So, please, if you're watching this and you've USDG, go deposit. Uh, help more people get into it. I'd love, you know, you guys are, you have the biggest Salana ETF. You obviously know a tons about DeFi. What kind of made this like the most the interesting opportunity to really jump in with both feet? What got you guys excited about this opportunity here?

[00:28:21]>> Yeah, for sure. I mean, like I I kind of touched on it like the it's the the people involved, right? like we a lot of like bitwise uh we're we're in a privileged position where we we a lot of people are excited to work with us and we're excited to work with a lot of people but it always it's when when you've got a compelling product right with a a a product that users are really excited about interested in and you're working with um you know strong partners and we're all pushing in the same direction like that's like the the best type of situation that you can have right and so you know like it's super excited. Um, but yeah. Yeah.

[00:28:58]>> Are you allowed to use it yourself? Did you uh give it a spin or is there like regulations? [laughter] >> Oh, I mean like not not financial advice [laughter] research, but uh definitely am in there with it with everybody else.

[00:29:14][laughter] >> Good. Glad to hear. Glad to hear. Yeah.

[00:29:16]Sorry if your legal counsel at Bid Wise is watching, please turn this off now.

[00:29:21]Some other illegal stuff. Uh I am curious though I think that like what's so interesting about like you and Bitwise team is you sit in a very unique place right uh you're talking not just to onchain projects like Jupiter etc but also to the world of traditional finance uh and capital allocators in particular right so your financial adviserss your institutional funds etc u I am very curious about what you've kind of noticed changing over the last 12 months and maybe over the last like one or two months in particular it's no secret that DeFi has gotten [ __ ] hammered by basically by Kim Jong-un. Let's just be honest about what it is. Like he's he's beating up he's running up the scoreboard. What is the kind of uh the read from the more institutional folks or the professional financial adviserss?

[00:30:03]How has it changed over the last year?

[00:30:05]>> Yeah, for sure. It's it's such an interesting dichconomy because like if you talk to like the average like crypto native like they feel so like to your point like they feel so beaten up and dejected. um you know price is down, yields are down, there's hacks left and right and like that's like the day-to-day kind of like aa that we all feel but then when you talk to like uh you know the more traditional institutions like an RAIA or like a fintech or a neo bank or even like the traditional brokerage houses like they all are super excited about DeFi, super excited about vault in particular. Um, and really it's like this kind of like secular trend of like stable coin adoption, right? And like we all see it, right? Like once you're once you have a stable coin, you see that it's cheaper, faster, and better. And so like why would you have to go back to fiat to like generate a return and generate a yield? And so like um tokenization, RWAS, vaults become like the next obvious transition, right? And so everyone's on that path. And that's why like it's so weird for me because like I go to conferences, I talk to people that's all they want to talk about is vaults and and they're kind of ignoring price and all of like the noise because they see this as like the next thing that need to get up. Everyone needs to have a vault strategy. [snorts] >> It reminds I uh I think that there's kind of like two camps inside of cryptos I've noticed, right? Where there's one group of people they kind of think that crypto is like the you know it's like the painting up on the wall. It's like the the centerpiece like what we are doing here is looking at tokens and their prices and trading and whatever else and crypto it be slathered and say crypto in big letters on it basically and it draws all the attention in. And then there's another group which I think I probably fall more into where crypto is more like it's like the rug you know it's like on the floor kind of pulls the room together. It's closer to something that adds a foundation rather than as like a focal point. Uh it's there to kind of support the other activities that are going on. And when I hear you say that I think that the the kind of I mean rug is maybe not the best analogy to use here. I'm realizing as I say that word [laughter] >> carpet, let's use carpet.

[00:32:16]The carpet team is kind of winning here, right? Like it does seem like the the utility of it drives and that's why I think looking at stable coin uh liquidity on chain is the best possible leading indicator of like what else is going to be coming here? U maybe for folks who aren't as experienced or haven't seen it as much, what is a DeFi vault? Uh and certainly like what do they like the people on the other side of the table start to think a DeFi vault is and why is it so exciting? Yeah, I think it's it's it's funny like uh so Matt, our Matt Hogan, our CIO, he's he's he's out there. He I don't know he might have been the first to say this like he he has this saying like vaults are like like ETF 2.0, right? It's like the next >> it's the next financial rapper, right?

[00:32:57]And um it's so true, right? like you you it's it's the most like efficient um delivery mechanism for any type of strategy or exposure that you want to have as a user and you know it's more transparent it's e it's it's it's globally accessible and so everyone's looking at this as like a technology for delivering a strategy like today the biggest like vault activity is lending right and that's you know makes sense because it's the lowest hanging fruit but even if you look at TRDFI like fixed income lending is like is the biggest portion of of of the market of capital markets. So that'll always be the case.

[00:33:37]But you can you we can you can have like systematic strategies, you can have index funds all delivered within a vault and why not, right? It's it's just a way more efficient way to do it. So that's why everyone's like so excited about it.

[00:33:50]>> Well, I mean, as the the head of multi strategy uh at Bidwise, uh what kind of strategies do you think are up next and are going to start to scale? Certainly the borrow markets have already scaled to to many billions and hopefully many hundreds of billions in the near future.

[00:34:04]Are there other particular strategies or players that you see that are particularly interested in vaults that people should keep an eye on?

[00:34:09]>> Yeah, I mean I think it runs the gamut.

[00:34:12]Like for us um you know just understanding that the typical vault depositor at the moment is still super focused on stable coin yields like um uh delta neutrality, right? Things like that, low draw down. So, we'll continue to focus in that area um and and see what types of other types of alpha strategies that we can deliver there. Um and but I do think that like over time, you know, that that type of um uh investor base will broaden and we'll start to see like, you know, maybe it's maybe it's a trend following strategy, maybe it's an index strategy, like some sort of automatic rebalancing. um those types of things I think will start to come on the back end and maybe become like the the next kind of trend within vaults but for now obviously everyone's focused on like yield and and and like market neutral type stuff which is where we'll focus as well for now.

[00:35:08]>> How do you think about like the transparency and accountability on funds? It's one thing that gets me a little bit nervous where in the traditional world, as I understand it, you'll know this better than I do, but oftentimes like the the fund kind of administrator and the person who's kind of like actually creating the NAV are two separate people, right? Because like you have different incentives uh if you're actually running the strategy versus reporting on how much money you have left uh over here. Uh versus in crypto, it still seems like largely that's it's it's a lot of people kind of grading their own homework is my understanding.

[00:35:34]>> Uh how do you think about kind of like transparency and accountability going forward and like what is the kind of steady state or equilibrium that this industry goes towards? Are we going to replicate the kind of trady separation of powers or do we just do it fully on chain? What is the what's the thinking?

[00:35:46]>> Yeah, I mean I think that like if if a strategy is like fully on chain then like the blockchain itself is like the administrator, right? And is doing all of the pricing and the reporting and like if in that type of narrow um definition then maybe you don't necessarily need a third party um valuation. Um, as you become more and more off-chain, then you need that kind of attestation, that third party check to make sure that assets are there, that they're valued correctly. Um, and you know, we're starting to see that like we're like securitized recently with Upshift that they're get they're going to be a valuation provider for for some of their vaults. Um, >> I I think that like that's generally the right direction and the right kind of way to split the the two markets. um you know when things are fully on chain then that that's the the ideal scenario right and so you know yeah >> so I guess we need enough uh kind of like products and users and protocols that people can use like just on Salana for example for the easiest kind of reporting where I see some of these vault products go where people are doing like delta neutral hedging and stuff like that it's much much more opaque right because they're hedging on Binance or something like that on prices on chain so it's not really like that onetoone but I think the more stuff that you can do on chain the more interested these vaults get the more trustworthy they yet as well when you think about kind of scaling onchain liquidity right on Salana today I forget the exact number but it's somewhere in the 5 to10 billion range probably closer to 10 than it is five uh it's objectively a lot of money but it's also like basically nothing uh relative to like traditional markets what do you think is the kind of roadmap for scaling onchain liquidity up you know 10x from here >> yeah for sure I think a that a lot of that's coming right I kind of alluded to every single fintech like every single essentially every single company that is adopting stable coins is is is coming more more and more on chain, right? And I think that has a lot of benefits, right? obviously more liquidity, but also a a new kind of investor class, a new class of users that may have different types of risk preferences, time horizon preferences, and things of that nature that will help kind of broaden the ecosystem of kind of DeFi activity and and stable coin activity.

[00:38:02]And that'll foster a I would say mo most likely a healthier and more stable ecosystem where you don't have like drastic inflows, outflows. um stabler yields. Uh so so just gener general adoption of uh is is going to help to improve liquidity um and you know 10x it over time. Um obviously I think you you touched on when you're going through your news, right? Regulatory clarity is going to help [clears throat] supercharge. We're already seeing a lot of adoption, right? But that clarity is just going to supercharge and accelerate that. Um so and then I think last is probably this the idea of tokenization.

[00:38:41]RWA is coming on chain and um you know bringing a different different types of exposure so we're not so circular in terms of like crypto markets and so like all of those together I think will help to drive um onchain liquidity adoption into the future.

[00:39:01]>> Inshallah brother inshallah. All right, last question. Arguably the most important question. What is the coolest thing that you've 3D printed? The chat has noticed your 3D printer behind you.

[00:39:09][laughter] >> That is that is my daughter 3D printer. Um, she keeps printing dragons. I don't know.

[00:39:17]Like [laughter] she's really into that.

[00:39:19]So, >> well, shout out to your daughter. Shout out to the dragons everywhere. W says Southern. Yeah, that's that is the good stuff. Uh, Jonathan, I gota tell you how excited we are, how the how excited the community is to be working with Bitwise on this. I think it is hopefully the first of many. We might have some more things uh up our sleeves, folks. So, you know, don't be surprised if we see some more there. Uh but this has been uh great to have you on and we'll hopefully have you back again when we announce the next thing. Thanks for coming on, brother.

[00:39:45]>> Yeah. Awesome. Thanks for having me.

[00:39:46]We're super excited as well.

[00:39:48]>> Appreciate you, man. Talk soon.

[00:39:50]>> Cool. Take care. See you.

[00:39:52]>> Ah, good stuff. Yeah, W's welld deserved over there. Jonathan's great. Bitwise is great. Uh and the Jupyter Land market is great. Go check it out if you haven't already. Really, if you're not already in, you can just kind of look from the sides. We are working on getting more stable coins, so hopefully we can add some more stuff in there at some point soon. All right, with that said, let's get into the next section behind the mobile redesign. How we doing on time?

[00:40:17]Pretty good, actually. Wow, look at this. Uh, one of the things that changed about this new planetary call format is we try to keep it to less than an hour every time. Uh, and this time we might just do it. It depends on how yappy our next guest is feeling. And let me tell you, she knows how to yap. Uh, please drop a little JM newer, one of the newer members on the Jupiter team, first time on the planetary call. Make her feel welcome, please. X to the Z exhibit, aka XZ, product design at Jupiter Mobile.

[00:40:45]What's going on, XZ? How you doing?

[00:40:48]>> Hey. Hey guys.

[00:40:51]>> Fan favorite and it's your first time on uh already. It is, I think, like midnight, past midnight in Singapore.

[00:40:57]So, shout out to you for staying awake and uh and doing this. Much appreciated.

[00:41:01]As you can see, Borcas Psych, Lucid, Veta, Psych, Sunburst, Soul Tone, Haywood, Naka's last name, DJ Sims, etc. All excited to have you here. Uh who are you? What do you do at Jupiter?

[00:41:12]>> Yeah. Um I'm the product designer on the mobile app. Um I designed the spend tab and the onchain screens uh together with the team. And I think uh yeah this is the team behind the recent uh redesign of the mobile app >> that just went live. So maybe uh for people who have not seen it yet or haven't really understood the thinking first of all congratulations on your wallet. You're doing very well. This is great. Second of all, why was the redesign needed? Uh like what what is the the kind of thinking behind this new approach?

[00:41:42]>> I think for [clears throat] the redesign um it was like a a long discussion with the growth team and the brand team. um what Jupiter was two years ago is kind of different as um compared to what it is now. I guess like like two years ago Jupiter was more focused on um onchain trading um Salana mean coins but now we actually have like we offer card spending and if you guys realize that the the spend tab is actually in the middle of your navbar now. So um you know Jupiter is also an app now that people check daily b like for their spending and to see like how much they have like um earned and things like that. So I think that the reason um for the redesign was was also more of to you know cater to the different types of users who are trusting the app with their savings as well. So we want to make sure that this direction that we're heading towards is more trustworthy and um with a lot more clarity on the UI.

[00:42:39]>> It's good stuff to see indeed. Uh the craziest stat on that by the way I was just looking at the dashboards today. I think it is 22 or 23% of Jupiter spend mauus are also day DAUs. So like people are using it daily. 23% of the people that use it in a month will use it on any given day. It's a really ridiculously um ridiculously well used.

[00:43:01]Okay. So as we kind of evolve, we need to move forward here. Uh there is an immediate question in the chat. Where is it? Oh, what's going on? Sex. Uh there's an immediate question on the chat around uh from Polymonger who says, "Once upon a time, I'll click it. There we go. Once upon a time, it was said that users could customize the wallet background.

[00:43:20]Would that still be something we might be looking forward to?"

[00:43:22]>> Yeah, I think this question came up a lot on Twitter. Uh if you guys didn't know, the team is actually lurking a lot on Twitter. We're actually um looking out for what users are commenting on the new the redesign. Um, I think the old design with the background was definitely loved and this is something that the team is actually working on.

[00:43:42]Maybe bringing back more backgrounds in fact.

[00:43:45][laughter] >> Yeah. Yeah. So, definitely this is something that we're probably going to add this to the road map in the future.

[00:43:52]>> Yeah, I think we should. I think that uh I like the idea of background customization. Like as a default, it makes a lot of sense to me when we have, you know, like more than a million downloads on this thing. making something for the broadest swath that when you introduce your cousin, your brother, your baby mama, whatever to crypto, you want to give them an experience that feels, you know, professional and kind of normalized to their neo bank experience. But for the crypto OGs, for the Dens, maybe there's a little something >> for the Yeah, like for the people that love the current sleek feel, uh, they can also keep that. But if you want to go back to the degen designs, you can have that as well.

[00:44:25]>> Yeah, I think that I think that'd be a nice thing to prioritize on the road map here. So, but the redesign came out. I will say, I know Bour said he loved it.

[00:44:32]I think that the feedback was definitely overwhelmingly positive from users. I think it is just like super sleek and easy to use now. I mean, it was pretty good before, but what is actually new in this redesign?

[00:44:44]>> Yeah, I think the first thing definitely is going to be the integration of the span tab into the navbar. Uh, previously, if you guys remember, the span tab was actually on a toggle at the top of the app. So it kind of felt like it was two separate products on the mobile app, but now we wanted it to feel like one entire app that feels natural to just um toggle between the different uh tabs on the app. And uh secondly, uh we also have a unified portfolio view uh on the trade tab. So oh on the portfolio tab where you can view your tokens, defy positions and NFTTS. Um, previously it was icons to represent your holdings.

[00:45:24]But I think for normie users, they might not know like exactly what the icons mean. So this direction in the rebrand also um is a step towards making Jupiter more um easier to use for people who are new to crypto.

[00:45:39]>> Yeah. and the unified trade section. Um you can click on a dropown and you can swap limit DCA and uh even trade purps in one interface. And yeah lastly would be the explore tab. Um on the explore tab it's more of uh normie focus for people who are new to crypto. You can see trending tokens, trending stocks, earn yield, everything that you can do, everything that you can buy um on the mobile app all on the explore tab. So it like I think um if you want to introduce Jupiter to someone I think the explore tab is something that they can you know find out what they can do on Jupiter onchain side.

[00:46:18]>> Pretty uh pretty cool stuff indeed. I think that as the user base switches from degenerates who are addicted to crypto Twitter all day uh to regular people who are only kind of tangentially interested in this stuff but really just want a place to spend, save, trade uh with their money. Uh these kind of changes make a lot of sense. Is there a particular art in right now or is this something that we're going to be announcing later?

[00:46:40]>> I think we'll be announcing it very soon, but definitely uh it will be a lot more focused on like normies because you want to introduce this to the like the wider audience.

[00:46:49]>> Yeah.

[00:46:49]>> Yeah. The goal is an app that you could show to your friends, families, and so on. U >> what is on the the road map here?

[00:46:57]>> Yeah. I think the first on the list definitely we're going to be iterating on community feedback. background is one of it and maybe some of the advanced traders have also gave some feedback that um you know uh they used to be able to access the protab in one click but right now it's kind of more hidden under the tokens page. So that is something that the team is actually um discussing about as well. And secondly, there's going to be more features in spend. Uh we're going to launch even more ways to track your spending on your cart uh with spending analytics as well. and uh simpler onboarding for first-time users.

[00:47:35]Um yeah, this is going to be something exciting that we're gonna uh announce soon. Um right now onboarding is kind of separate for the mobile app and for Jupiter spend. So maybe you know onboarding is going to be more simple and straightforward so that people can get started faster. and the referral flow. Um, we have had some feedback on like, you know, people don't know where to input their referral code, people putting it in the wrong rewards input box. Yeah. So, we're working on, you know, unifying this so that people get the cash back and the rewards that they want to get for referring a friend. And yeah, lastly, personalization.

[00:48:14]Bring the cats back. Maybe bringing more backgrounds. [laughter] >> Backgrounds for sure.

[00:48:20]>> Yeah, >> I think that's great. Yeah, the referral flow I think is so great because we want people to refer it and we have some campaigns coming up for that. I'll just warn people right now. U but while we're here actually I think you know the road map is great. The spend features are crazy. I'm just going to frontr run the news. We have a multi-billion dollar lending market which right now is not connected to spend. It's going to be soon and it's something that no other neo bank experience has. So we're gonna have it uh if you ask nicely look at the cats fact.

[00:48:45]Let's get uh funny how normies equal classy in this context. I love the cats, but like my friends take me seriously when I'm say Scarlet. That is true. If you have other feedback, what else do you guys want to see in the app? Please uh yell at XE right now. This is your time. I see. This is why we brought you on is just to be a sacrificial lamb at all feedback. But folks, >> my guy Khan said, "Do you see Revolute as a direct competitor to Jupiter? Is that the direction that Jupiter wants to go?" Um I guess the the things that Jupiter offers is quite different from what Revolute offers. Revolute is like mainly a wallet as well but Jupiter has its own challenges as because we also offer onchain trading as the previous focus and now we also have spend as well. So I think um in terms of how smooth and how clear the UI is maybe we can see them as a competitor for that. But in terms of the product wise uh I don't think Revolute is a direct competitor to Jupiter.

[00:49:45]>> My answer is a little bit different. We compete with everybody. We want all the take all the smoke from [ __ ] everyone. Revolute to E Toro, Robin Hood, whoever it is. Yeah, we're coming for them all.

[00:49:56]I think like the terminal state of where this industry ends up is a single app for money, right? It's like when I when I want information, I go to Google and Google is the portal to everything that I might need. If I want to use e-commerce, I go to Amazon. And I think that's where Jupiter is going to be.

[00:50:09]That's why we keep saying just use Jupiter. If it's about value right now, today it's value onchain. Tomorrow it's all value everywhere. Jupiter is what you're going to need uh to use for it. U bill pay feature and spend says Adam Frasier as a as a request I believe.

[00:50:25]Mhm. Uh if I'm not wrong, this is something that we are also uh considering to do in the future. Spend has a lot of things on the road back.

[00:50:33][laughter] I can tell you guys that there's a lot of my list as well. So yeah, spend there's a lot of things that we're going to like allow users to do on spend.

[00:50:43]>> Shout out to the lovely Thomas who's just cranking out PRDS.

[00:50:47]>> Those poor devs. Shout out to to Jake and Trunk and Edmond and everyone else, but also shout out to Claude uh for doing some of that work. It's it's definitely happening. Excellent. Uh see, anything else that you wanted to let people know uh about what they can look forward to on Jupyter mobile?

[00:51:05]>> Like nothing much. I think just stay tuned to the Twitter and uh yeah, we'll be reading you guys like any responses, any thoughts that you guys have on the app. just let the team know and you know we can see how we can like constantly improve the app because this rebrand is just the beginning of the the new direction that Jupiter is going. We're going to constantly improve based on feedback that we get.

[00:51:27]>> That's right. Let's go. Transaction history, export and CSV on the way out.

[00:51:32]So feedback is still coming at you as soon as it goes. You will delete Revolute. Oh, we should do a whole campaign. There was this whole uh you know about like burn your Revolute. Uh like people used to burn books and [ __ ] like that when Jupiter spent. Do you do you know the date when we're available in Europe by any chance? It's late May, early June is the last thing I had heard. Is that right?

[00:51:51]>> That one I think you should confirm with Thomas. [laughter] >> Yeah, >> Thomas's [ __ ] ass is asleep right now, so I can't confirm him with any unlike you. He's weak. He's uh sleeping [laughter] dozing off. All right.

[00:52:06]Anyway, XC, thanks so much for coming on. Uh, great work from you and the team on the mobile app. Excited to hear what more people think. And critically, if you do have feedback, please tag atjup burst. Shout out to Yoda, Morton, Opac, Majubito, everyone on that team. Uh, knock. There's so many people. I don't want to forget anyone uh doing the Lord's work. You can also always just tag me or DM me directly as well and I'll respond every time. So, that really works out. And Exie, what is your Twitter handle if people want to yell at you? I don't see it on here. Um, >> it's egg zeg e g zeg e z e g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g >> egg z is your [laughter] is your all right >> Izzy but was taken so >> fair enough zed followed and yell at her on Twitter if you have any uh if you have any other feedback or problems all right exy thanks so much for coming out we'll catch you soon >> thank you bye >> goodbye I all right. What? [laughter] Shout out Satchel the main man. All right folks, we got about seven minutes left and we got two sections to cover. Mooney money, less problems, fill with some alpha on how you might be able to make some more money on chain and then we have meme madness. Uh, which I'm really not looking forward to. Uh, so let's talk about mo money less problems. First things first, if you haven't already seen it, Jupiter poker powered by gum live already. This thing is crazy actually. It's a new staking platform.

[00:53:35]So staking, obviously we think of staking for staking tokens to validators or whatever. But in poker, what ends up happening is poker players, you know, you lose, lose, lose, lose, lose, and then you win a tournament and make a bunch of money. Then you lose lose lose lose lose, then you win a tournament, make a bunch of money. And it's very high variance. Hard for poker players to live in this fashion. So over the last five or 10 years, this kind of industry has been created of staking poker players, which is basically you buy a share in someone else's success. That way, instead of, you know, just hoping that you win by yourself, other people can kind of chip in. If you win, you split the rewards. If you lose, that's all right. You know, some part of your kind of tournament entry fee is covered.

[00:54:12]So, do want to shout this out. It is not actually playing poker, just to be super clear on that. You are buying a share of a poker player's winnings. Fully transparent onchain payouts done in partnership with our homies over at Triton Poker. This is a big deal. This is super cool. First of its kind over here. Uh, simple way to go in to buy it.

[00:54:29]You just pick the action that you want to support, which of the Triton tournaments you want to support, and which player. You can buy a piece, and then you can track your settlement. And what you'll see is something like this.

[00:54:38]So, shout out to our guy Danny. Uh, he's competing in the $50,000 pot limit Omaha mystery bounty, right? Uh, and he's uh raising 5,000, so he's just selling 10% of his action. You can put in some money and then you'll see if he wins outright, you'll do 10x on your money. If he finishes in the money, you'll get $83.

[00:54:54]If he finishes in third, and so on and so forth. So this is a very cool new primitive. This is this fits directly in line with our overall thesis that the world is becoming financialized in the universe of assets is bigger than just equities and commodities and these kind of traditional things. [snorts] This is an area where crypto actually adds real value. Global user base instant payments basically for free with stable coins on Salana. Uh and super super cool to kind of create a net new asset class uh right here Jupiter as usual on the frontier.

[00:55:26]So, go check this out if you haven't already. That's the first one. The second one, uh, we have a new earn widget on Jup. So, you will now see how many rewards you have ready to claim, how much you can earn by depositing into Jupiter Lend, uh, how much rent you can reclaim and so on. All right, there on the homepage. Super cool, super simple.

[00:55:42]Just go get that money. Uh, the next one, Jupiter Terminal still shows discounts on stocks. Uh, I think this is still underused a lot of the time, honestly. uh where a lot of stocks trade below the the rate actually that they are in traditional markets and there's an easy arg to be had there if you're willing to hold on to it for a little bit. Uh so I've said this before, I continue to say this. I think that like you should if you're looking for like a weekend project with Claude, this is a very easy one of just like create an RBOT for XCOS or whatever else when the prices get a little bit out of whack.

[00:56:11]That seems easy. Uh and then we have over here uh Jube offer book. Here's a little bit of alpha. Jub offer book borrow lend protocol orderbook based peer-to-p peer based loans no price based liquidations crazy tech shout out to whitey and the rest of the team on that one the uh the private beta is going to be ending soon and the public beta is going to be opening up soon as well and so here I just want to shout out one of the features uh that you can see which is get insurance uh what's very cool about this is typically when you buy insurance you know if something wrong happens you get the money with offerbook you can actually get USDC now and then if things go sideways you can walk away with the USDC and just pay a small premium an insurance premium to protect your position. Uh this is a really cool kind of like way that things work. If Juice stays fine, for example, or if Soul or if any other token like memecoin for example stays completely fine, then you just repay your loan. You give away your premium. You've been covered. You get your collateral back and if it goes down, then you just walk away and you just keep the insurance money that you uh received. Uh this is a primitive that no one else has. This is actually incredibly cool. Uh, and I think people are going to find really interesting use cases around this. Uh, so stay tuned on that one next week. Uh, do want to shout out on Terminal, we also now show top traders. So you can see the traders with the highest P&Ls and then monitor their wallets. Is this creepy? Yes. Yes, it is very creepy. Uh, is it effective if you want to be profitable on train? Yes. Yes, it is. uh monitoring these, setting alerts for them, being able to kind of track exactly what they're doing at all times.

[00:57:40]You can do that directly within Jupiter Terminal. Uh and then this one just shipped. If you haven't already done this, you need to go do it now. Uh X stocks now have supply based yield as well. So, not only can you borrow Jupusd at 40 Bips, unbelievable. You just borrow it at 40 bips, you can redeposit it at 5%. It's like it's a free money glitch. I don't know why everyone's not doing this. Uh, but you also now get 2% on your spy. Where else are you gonna get yield on your X stocks? It's crazy.

[00:58:08]Or on your stock portfolio. This is this is nuts. U Masan says, "To be honest right now, I'm a bit overwhelmed uh by what Jupiter has to offer. Too many things." I appreciate that. I definitely understand that. That's part of the reason we wanted to do this kind of call to be able to go through it all. You could re-watch it at 0 75x speed if you need to to make it a bit easier. But the number of opportunities that you have on Jupiter to earn to increase your portfolio and so on is too too good. Uh so you can see this over here. And don't forget about the rewards sub campaign as well. Uh and then two last things to to kind of showcase. The first one is a global spending challenge. $888 to the top spender, the globe trotder and the biggest swipe. The contest ends at the end of the week. Uh, so if you have, if you were going to buy a car, now's a great time to buy a car with your Jupiter card and get $888 back. Let me just tell you that right now. Uh, if you are, you know, doing a bunch of other things, this is also a great place uh to do it. Now, uh, the cash back for Jup Stakers, please definitely something that we are thinking about. Uh, I will tell you that much. We have I can't say anything too much about it right now, but yes, we want to continue to drive more utility to the Jup token uh, and more use cases. And then lastly, there is a free roll raffle on Jupyter Predict right now. If you lose, you can still win a share of the 50K prize pool ending on May 25th. I think that's it. Oh, speaking of prediction markets, I promise this is the last one. Crystal Ball Club for Jupiter Rick. Shout out to AG and the gang uh working on this. This is a this is a really great session.

[00:59:33]Weekly Twitter spaces about strategies, tactics, markets that are interesting on Jupiter Predict. If you care about prediction markets, this is where the alpha is going to be. Crystal Ball Club.

[00:59:44]Go check it out. 2 PM UTC on Thursday. W for the community says R.J. and he is very much correct. Uh yeah, this is a this is a great one. If you're interested in having more money and less problems, this is the place to go. Okay.

[00:59:57]Well, here's the section of the call that I have been dreading this entire time. Welcome to meme madness, folks. Uh people really went wild uh this week on the timeline coming up with some memes. Uh let's take a look at some of the best ones here.

[01:00:11]Breaking news.

[01:00:14]Trump asked me help to stop the blockade as nobody ships like Jupiter. This is one of those memes that just warms the cockles of my heart. Uh if you like this one, this is a this is some good stuff.

[01:00:24]Jupiter is a shipping company in many ways. Uh and nobody ships like Jupiter.

[01:00:28]You need the blockade. The IRGC cannot stop us. Trump cannot stop us. Nobody can stop us. We're going uh over and above. Uh here we have another meme.

[01:00:38]Bernie governance utility. He's not excited. ASR, he's constipated. Defi with a dash in the middle, he's electrocuted. And then deflationary tokconomics, his eyes are literally lighting up and peeing on fire. That is uh that is good. I can't tell if these are good or bad things, but I'm also very old, so I don't know how to read this meme. Uh but shout out to the deflationary economics, I suppose. Uh this is the this is now we're getting to the memes that I don't care for. So, Poly Monger, who I know is in the chat here, uh, I will say the real reason why Castana never stands up during the planetary calls, the thing that is the scariest about this, honestly, is not only is it true, I have done the calls pantsless. Bonus points to anyone that can watch any of the hundred previous streams and figure out which I was pantsless on. Uh, but more than anything else, these this is really what my legs look like. They are very hairy. I do have great quads. Uh, so shout out to the AI for somehow being able to see through my pants. It's a little bit little bit concerning. I'm not going to lie. Um, especially since this is a photo from my wedding party. Uh, so the fact that it showed me pants stair is a little bit crazy. Anyway, uh, shout out to Polyonger on that one. Uh, here's I think probably the the best meme that we saw all week. Let's, uh, let's play this one up here.

[01:01:48]>> What is the marketing plan?

[01:01:49]>> Simple. We call the Jupiter.

[01:01:50]>> No, let's put some [ __ ] on the sky.

[01:01:52]>> What about a drone show?

[01:01:53]>> No, we need banger videos. We need a salana retweet. Tweet >> cash. What should we do?

[01:02:01]Um, I think that's a um >> [ __ ] [ __ ] What do we do? CASH NEED HELP. PRESS IT.

[01:02:13]>> Big week.

[01:02:14]>> Oh. Oh my god.

[01:02:16]>> Cash, I love you.

[01:02:17]>> I'm going to tell Sapp to post it now.

[01:02:21][laughter] >> I thought this is shout out to Block Raccoon putting this together. They give a little squig shout out to Laval. Shout out some of the studio projects there. I >> What is the market?

[01:02:31]>> I could not believe it. I saw Totally retweeted it himself and then I just saw these people losing their minds [laughter] and I thought it was too good. I'm I love you too, anonymous AI lady. Shout out to Satchel. This is uh this is too good. It is a bummer. Big week started as a as my thing. It's now become just like a general meme that people uh yell at me to to do like I'm Woody in Toy Story, but this one was a big week. Shout out to Black Raccoons.

[01:02:54]This is a great meme. And then we have this one as well from Zet Zone. Let's check this one out. [music] >> My flag boy. I'm going to set your life on fire. Talking about [music] [music] [singing] change only 10,000.

[01:03:25]>> [music] >> Hey uh tiss feel free.

[01:03:46]>> You can't lose. You just can't lose.

[01:03:56]I think that's the bosses watch.

[01:04:10][music] Yeah, I'm going to need a little W or two in the chat. High effort as [ __ ] People coming out for me madness. Shout out to Zed Zone too. Good. I don't know why Xiao Xiao was the police in this why he wasn't on our team. But I loved all the little cameos and Alicia, Will, Agu, uh, so many others. And fun fact, Meow does do that to me sometimes when he's really excited. He does dig deep into my luscious locks. Uh, so that one was was very good. W to Zenet. Uh, fantastic, fantastic stuff. And shout out to everybody that uh, participated, made some great memes, guys. Vorlion, Seaflow, Flip, uh, Ahova, and everybody else on this list. I won't read everyone else's names, but shout out to everyone who participated. Was a lot of fun. We might [ __ ] around and do it again. I don't know. The only problem is that people make uh, very bad things of me, but otherwise, I think it's great. Uh, anyway, that is going to be about it.

[01:05:31]Wanted to say thank you all so much for coming out. An hour and five minutes.

[01:05:34]Not too bad. Just a little bit over. Uh, was a lot of fun. We'll see you again in two weeks. Uh, and as I like to say, you don't have to go home, but you can't stay here, my friends. Goodbye. See you soon.