Barter Alpha #9: The week of crashes and creations
<> Barter's PMM dominance
<> The Great Flush
<> AMMs get a brain upgrade
<> Prediction markets go Wall Street
<> Solana gets its dollar
In September, @BarterDeFi ranked #2 among all routers by private market maker (PMM) volume, routing $2.3B in total trades.
PMMs offer deeper liquidity and sharper pricing than traditional DEX pools. For routers, this means:
<> better execution;
<> lower slippage;
<> higher total volume.
Last Friday, the market went through one of the most violent liquidations in crypto history.
<> Over $19 billion in leveraged positions were wiped out in less than 24 hours, $10.3 billion of that on @HyperliquidX alone;
<> $BTC plunged to $104K, altcoins evaporated, and even seasoned traders called it “one of the messiest liquidation events since 2021";
<> @aave’s liquidation engine cleared $180M in collateral in one hour.
Macro pressure added fuel: Trump’s renewed trade war with China sent global indices tumbling, dragging crypto with it.
We couldn’t ignore this one. The flush that shook DeFi.
@JupiterExchange announced $JupUSD, the native stablecoin of its ecosystem, built on @ethena_labs’ Stablecoin-as-a-Service stack.
JupUSD will become the core unit of liquidity across Jupiter’s products:
<> Powering Jupiter Perps, replacing the $750M in stables within JLP;
<> Serving as the primary asset for Jupiter Lend;
<> Integrating natively across the broader Jupiter stack.
At launch, JupUSD will be backed by $USDtb, itself collateralized by BlackRock’s BUIDL fund, with potential future inclusion of $USDe.
Introducing JupUSD: the native stablecoin of the @JupiterExchange ecosystem built on Ethena's Stablecoin-as-a-Service stack.
JupUSD will plug into every major part of the Jupiter stack, including:
- Jupiter Perps: where the ~$750m in stablecoins inside of JLP will gradually be replaced by JupUSD
- Jupiter Lend as the cornerstone lending asset
Excited to be partnering with one of the best teams on Solana.
Did this week break you or wake you?
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