Leveraging the Clone Protocol, users can now trade non-native Solana assets without needing to use bridges.
Solana’s top decentralized exchange (DEX) aggregator by 24-hour volume, Jupiter, unveiled today it has integrated Clone Protocol, enabling non-native Solana token trading.
Users can now trade Dogecoin, Arbitrum, Optimism, SUI, or BNB without needing to bridge; with new assets coming soon. “Soon all of crypto will be at your fingertips on Solana, read an X post by the Clone Protocol.
Today’s integration means that instead of using bridgers, users tap into the Clone Protocol, which uses a clAsset as a wrapped version of a token from another chain. These are designed to replicate the price of their original tokens.
Jupiter’s native JUP token jumped 5% to $1.12 today, with a market capitalization slightly over $1.5 billion. It is still down 44% from its Jan. 31 peak of $2,.
The integration aims to expand the Jupiter exchange, which is already enjoying widespread success on the Solana network. According to DefiLlama, it leads DEX aggregators with $800 million in 24-hour volume, followed by DODO with $152 million and 1inch with $139 million.
Jupiter’s website showcases impressive trading volumes. The platform has seen more than $174 billion change hands, compared with Uniswap’s $2 trillion, although activity has been on a downtrend since its February peak. April only had $5 billion in trades, whereas Feb. registered the exchange’s all-time high with $47 billion, and March saw $35 billion.
Clone Protocol is a small protocol according to DefiLlama, with barely $670,000 in total value locked (TVL). However, those numbers stand to surge after joining the Jupiter ecosystem.
The entire wrapped tokens category showcases a $10.9 billion market capitalization, although it is dominated by the $9.8 billion of Wrapped Bitcoin (WBTC) deposited on Ethereum. Other tokens do receive interests from traders, nevertheless, with Coinbase wrapped staked ETH (CBETH) flaunting a $597 million market cap, and wrapped Centrifuge (WCFG) has a $255 million market cap.
This news is republished from another source.
