Decentralized platforms like Jupiter play a key role in their ecosystems. Since the launch of Jupiter, Solana has become one of the dominant players in DeFi. It has become the main platform for launching meme coins, and its volumes now regularly surpass Ethereum’s.
Now, speculators are expecting that TON could benefit from its own Jupiter-like platform. DeFi hub Elluminex is launching on the network, seeking to bring the same type of benefits to TON.
Jupiter Becomes Key Growth Catalyst For Solana
In recent years, Solana (SOL) has become one of the biggest DeFi hubs in the world. Notably, this rise was in part due to the significant expansion of DeFi platforms on the network. Among them, Jupiter is the most dominant.
Jupiter currently facilitates 80% of the organic volume on Solana, according to Dune Analytics. It also accounts for 65% percent of all DeFi trading on Solana. Unlike Raydium and Orca, Jupiter pools liquidity from multiple DEXs. This means that it consolidates liquidity on Solana, and is complementary to its exchanges.
Source: Dune Analytics
This central role in the Solana ecosystem showcases just how important DEXs are for networks. Notably, since Jupiter’s launch, Solana’s TVL rose to $368 million, rivaling many other chains. After its launch in 2022, Solana’s price rose from $72 to $209.
At the same time, Jupiter facilitated the huge meme coin trading activity at the time. These figures suggest that DeFi hubs are key for blockchain networks.
TON Poised To Become Major DeFi Player
Telegram’s TON blockchain is swiftly becoming one of the biggest players in the DeFi space. By leveraging its links to Telegram, has a simple user interface and access to over 950 million users. Thanks to this integration, TON is currently the simplest blockchain network for retail users.
For instance, users can engage with TON apps through Telegram mini-apps. These apps are easy to use and require no knowledge of blockchain and crypto. TON also leveraged Telegram by integrating its official wallet app into the messenger. According to Bitget Research, this made it much easier for users to engage with TON.
Together with these benefits, TON is launching more and more features to its network. These now count memecoin launchpads, a torrent-like file storage system, TON Storage, a TON DNS service, and more. All of these services make TON a comprehensive DeFi hub.
Elluminex To Become TON’s Jupiter
Just as Jupiter boosted Solana, Elluminex (ELX) seeks to boost TON. Currently, the fastest-growing blockchain, TON, is set for major growth following Elluminex’s launch.
Elluminex is a comprehensive DeFi platform built on top of TON. Just like Jupiter, it aims to bring together fragmented liquidity. The only difference is that Elluminex will be a multichain platform. It aims to leverage TON’s scalability and speed to power cross-chain swaps across 40 different networks.
Thanks to Elluminex, traders on TON will soon have access to liquidity from most major networks. This increased liquidity will make trading more efficient, reducing slippage. This is crucial for traders, as slippage can quickly eat into their profits.
Thanks to a range of other advanced features, Elluminex hopes to appeal both to large traders and small ones. For instance, its AI-powered Portfolio Tracker will give real-time actionable information to traders. Thanks to this feature, trading crypto may become more accessible than ever.
For more information about Elluminex (ELX) visit the links below:
Website: https://elluminex.com
Twitter/X: https://x.com/elluminex
Telegram: https://t.me/Elluminex
