Incentivize Jupiter Swaps

Would it be possible to integrate/collaborate with jupiter?

They mentioned in the AMA with @cyptic about adding future functionality so other services could integrate their own fee structure.

Could we make mSOL swaps incentivized by lowering the fee is you’re holding MNDE (like serum)

Or perhaps collaborate with them and bake it in directly to every swap? With Jupiter being such an integral swap tool we could negotiate to perhaps share some of that fee structure to make it an integrated function of the jupiter swap. This follow with @gekonns idea of making mSOL the prefered token over SOL.

NOTE: This is down the road, as we do not know the exact details of what Jupiter has planned.

Would it be possible to integrate/collaborate with jupiter?

I think this is a great idea and in line with what Jupiter is trying to do with many of it’s partners, I believe. No entirely sure how this would manifest in practice though!

Could we make mSOL swaps incentivized by lowering the fee is you’re holding MNDE (like serum)

Now you mention mSOL swaps with lowering fee - How would that work out? Jupiter takes no fees, it is the DEXs that take a swap fee. Not entirely sure how MNDE holding would help reduce the DEXs fees in this example of yours.

Alot of using mSOL instead of SOL has boils down to education, I suppose. Most ppl still don’t understand the power of mSOL and decentralization. Maybe a Jupiter integration would assist with this.

My bad, I knew that there were no fees, but that you could add yours to them from the AMA.

It’s worth clarifying for anyone else.

I feel like there should be a way to encourage people to use mSOL to swap over SOL. Individual AMM’s could be incentivized…but that’s another story.

I think I understand you much better this time around. Integrating Jupiter, and then adding a fee on the swaps that goes to mDAO treasury or MNDE buy backs or something similar, right?

1 Like

Wouldn’t this disincentivize people from using mSOL?

Totally support integrating Jupiter

1 Like

Thanks for this great discussion! One take away for us is that we have to make it more clear that Jupiter takes 0 fees and that the only fees a user pays are exchange fees, the transaction fee, and if a partner integrates Jupiter they may choose to add on their own fee.

Here are some of my thoughts on potential integrations:

  • Right now, people consider staking SOL after deciding to take a SOL position. So it’s a two step process. 1 - I want to hold/long SOL. 2 - I have a lot of SOL, I should stake it to earn yield.
    Marinade could integrate Jupiter so a user can swap from whatever asset they want to sell to go straight to holding mSOL and make a case that if you’re thinking of taking a SOL position, you should really just take an mSOL position.

  • On the unstaking side, I think Marinade could use Jupiter to allow a user to unstake to any asset instead of just SOL which would save the user an extra step and charge a convenience fee for it which you could then offer discounts to MNDE holders.

3 Likes

But how does swapping lock up more SOL?

As I’ve said on the MNDE utility thread - shouldn’t No1 priority of all Marinade team & DAO be to deliver mSOL to people by locking up SOL…ie The Staked SOL TVL KPI on the site

BTW I know we need liquidity & swaps for mSOL pairs etc but that is secondary to No1 priority above IMHO

Good question. I don’t think I was as clear in my first point. What I was imagining was that Marinade could integrate Jupiter on their site so someone can automatically stake SOL from any asset. [ANY token]->SOL (Jupiter) SOL->mSOL (Marinade staking) This would would take a few transactions but the UX can be pretty seamless on the front end and can turn this into a revenue source for the Marinade.

Right now, you can only use Marinade’s site if you have SOL or mSOL. There is no reason to go there otherwise. With Jupiter you can make a case for helping to decentralize the network from any token asset.

2 Likes

Thanks Ben for clarification. Yes, if this integration could be delivered as above it would be brilliant.

Love Jupiter BTW - don’t use anything else for solana swaps anymore. I’ve spot checked prices a few times and all spot on!