---
title: "JupUSD (JUPUSD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/jupusd-jupiter/"
description: "Build-time stablecoin profile for JupUSD (JUPUSD). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-06-03"
---



# JupUSD (JUPUSD)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Solana dollar from Jupiter, 90% backed by Ethena USDtb (BlackRock BUIDL) + 10% USDC; pristine collateral buried under three wrappers. JupUSD is Jupiter's play to own Solana's dollar layer: 90% backed by Ethena's USDtb (itself a wrapper around BlackRock's BUIDL tokenized Treasury fund) with a 10% USDC buffer, custodied by Porto via Anchorage Digital. The dependency chain runs JupUSD to USDtb to BUIDL to actual government bonds — pristine collateral buried under three layers of operational and counterparty risk. At $80M circulating and growing 11% month-over-month, adoption is real, with $12M in DEX TVL though heavily concentrated (HHI of 0.71) in a few pools. A handful of shallow depeg events, none deeper than about -202 bps, and a stress reading that rarely leaves the calm end of the scale suggest a clean launch, while the backstop offers atomic settlement through whitelisted on-chain redemption into stablecoins. The C grade prices in the dependency complexity and centralized governance — Jupiter is betting that BlackRock's brand travels well enough through intermediaries that Solana users won't mind the wrapper tax. The reserve trace lands in BUIDL's {{term:treasury}}T-bill{{/term}} {{term:money-market-fund}}money-market fund{{/term}} via Anchorage {{term:custody}}custody{{/term}}, with whitelisted atomic {{term:redemption}}redemption{{/term}} into USDC as the peg floor.

## Collateral

90% USDtb (BlackRock BUIDL tokenized U.S. Treasuries issued by Ethena under GENIUS-compliant framework, custodied by Porto/Anchorage Digital) and 10% USDC liquidity buffer

## Peg Mechanism

Reserve-backed 1:1 mint and redeem on Solana against USDC; Ethena manages day-to-day reserve operations (custody, bridging, rebalancing between USDtb and USDC)

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| solana | `JuprjznTrTSp2UFa3ZBUFgwdAmtZCq4MQCwysN55USD` | 6 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/jupusd-jupiter.