JupiterIncentives

4.02%

Current APY

5.89%

7D avg

6.95%

30D avg

1.49%

Incentive APY

$42.2M

TVL

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Strategy overview

Deposit JupUSD into Jupiter's lending market. Your deposit earns variable interest paid by over-collateralized borrowers.

Low–moderate risk · Grade B

24/100

Control over the protocol's code matters — upgradeable behind a multisig (threshold undisclosed).
Where the return comes from adds risk — yield comes from over-collateralized lending.
A smaller token is easier to destabilize — JupUSD: ~$43.7M market cap.

Strategy

risk 21/100

Strategy type20
More complex strategy type.
Leverage0
No leverage.
Yield source45
Yield comes from over-collateralized lending.
Pool usage20
Utilization unknown for a pool-based product.
Pool size1
~$42.2M pool.
Lock-up & yield stability0
30d APR volatility 1.6pp.

What can go wrong

Withdrawals can be delayed when the market is near full utilization — your funds are lent out until borrowers repay.
Yield is variable, not fixed, and can drop as borrowing demand falls.
A bad-debt event in the market (a borrower's collateral can't cover their loan) can affect all suppliers.

The assets

risk 33/100

What your deposit is held in, and how steady its value is.

JupUSD

CG CMC

Backing model10
JupUSD: rwa-backed.
Peg history42
JupUSD: worst recorded peg deviation informs this score (7 recorded event(s)).
Issuer size70
JupUSD: ~$43.7M market cap.
Exit liquidity11
JupUSD: ~$18.8M DEX depth.
Token age51
JupUSD: live since 2025.
Freeze authority35
JupUSD: issuer can freeze token accounts.

About JupUSD

Each asset in this position — what it is, how reliable it is, and any past depegs.

JupUSDJupiter USDStablecoin

Some Risk

CG CMC

By Jupiter. Jupiter's dollar stablecoin (built with Ethena), backed by Ethena's USDtb — short-term US Treasuries held via BlackRock's BUIDL fund. · Live since 2025

·Worst deviation from $1 peg: 0.19% (tracked window).
·Held its peg 94.1% of the time.
·Small market cap — thinner liquidity makes a depeg more likely under stress.

Peg adherence (7d): 82.1%Worst deviation (7d): 0.124%DEX liquidity: $18.8M

Audited: Yes — Offside Labs / Guardian / Pashov (contracts); USDtb reserves attested

Past depeg events

▼ $0.98 · 2026-02-15 — 2.02% below peg, recovered source
▼ $1.02 · 2026-02-05 — 1.58% above peg, recovered source

Show all 5

▼ $0.98 · 2026-02-15 — 1.47% below peg, recovered source
▼ $1.01 · 2026-06-05 — 1.32% above peg, recovered source
▼ $0.99 · 2026-02-14 — 1.22% below peg, recovered source

Jupr…5USD

Token notes & warnings

Freezable — The authority's owner has the ability to freeze your token account, preventing you from further trading
Mintable — The authority's owner has the ability to mint more tokens

Who runs it

Jupiter X Docs DefiLlama

risk 20/100

The team and protocol behind this, and their track record.

Supplies deposits into Jupiter's Earn lending pools (earning borrower interest) or Multiply vaults that loop a yield-bearing token for amplified exposure.

Admin controls45
Upgradeable behind a multisig (threshold undisclosed).
Exploit history0
No known exploits.
Track record0
Live for ~61 months.
Price feeds0
Multiple robust price feeds (Edge (Chaos Labs), Pyth, Chainlink).
Scale0
$2.1B TVL — battle-tested at scale.
Safety reserves39
~$9.4M disclosed treasury/insurance backstop.
Bug bounty15
Live bug bounty up to $500k.
Audits0
Audited (OtterSec, Offside Labs, Sec3, MixBytes, Zenith).

How we rate risk

Stablecoin strategies get a 0–100 risk score (lower is safer) built from three areas — Protocol (audits, incident history, track record and admin controls), Strategy (leverage, lock-ups, pool size and yield source) and Asset (the token's peg record, backing, and exit liquidity) — weighted by strategy type — and the weakest area can push the overall number higher (riskier) on its own. The score maps to a grade: A ≤ 22, B ≤ 35, C ≤ 50, D ≤ 70, E above. Grades compare opportunities within our stablecoin catalog — an A is the strongest thing we list (blue-chip stablecoin lending), not a promise of safety. Live events (an active depeg, a reported exploit, a sharp deposit outflow) override the score immediately. Where we lack data, the factor says so and scores cautiously. Non-stablecoin opportunities are not rated. A comparison aid, not advice.

Risk levels are Akashi's own assessment to help you compare opportunities — not financial advice or a safety guarantee. Every DeFi position carries smart-contract and market risk.

Non-custodial · Akashi never holds your funds

Jupiter Lend — JupUSD