Jupiter is considering a new feature that allows users to deposit JLP tokens to borrow USDC, as announced on the X platform. This initiative, introduced in Catstanbul, aims to enhance the utilization rate of USDC and increase the annual percentage yield (APY) for JLP holders. In case of liquidation, JLP will be redeemed to release its collateral from the fund pool.

USDC

PANews reported on January 25 that Jupiter posted on the X platform that a new idea was released in Catstanbul today, allowing users to deposit JLP and borrow USDC, which can increase the utilization rate of USDC and increase the APY of JLP holders. Liquidation will be carried out by redeeming JLP, releasing its collateral in the fund pool.

Jupiter Considers Allowing JLP Deposits for USDC Borrowing