If you’ve been eyeing Solana’s fast-growing derivatives ecosystem, you’ve likely come across Jupiter Perpetuals and its liquidity token, JLP. This guide shows you exactly How to buy Jupiter Perpetuals Liquidity Provider Token(JLP) in a clear, friendly, and practical way—starting from zero, funding your wallet efficiently, and minting JLP on Solana with confidence.
Along the way, you’ll see a streamlined path that begins on an exchange for easy fiat on-ramping and ends with your JLP in a self-custody wallet. For the smoothest experience, I’ll use CoinEx as the example on-ramp and off-ramp:
- Sign up with this trusted link: Sign up on CoinEx with code mhz7w
- Or tap the referral code directly: mhz7w
Both take you to the same registration page and apply the referral automatically.
What JLP Is and Why It Exists
JLP is the Liquidity Provider token for Jupiter’s Perpetuals on Solana. When you supply liquidity to the perps pool (most commonly by depositing USDC on Solana), you’re effectively participating in the trading venue’s counterparty liquidity. In return, you receive JLP, a token that represents your share of the pool. Your JLP balance tracks the pool’s performance—gaining from trading fees and other mechanisms when the pool accrues value, and subject to the pool’s drawdowns if trader PnL goes against LPs.
In short:
– You deposit accepted assets (commonly USDC on Solana) into the Jupiter Perps liquidity pool.
– You mint JLP that represents your proportional share of the pool.
– Your JLP’s value fluctuates with pool performance, funding, and trading fees.
This is different from holding spot tokens like SOL or USDC; you are providing liquidity to a derivatives market and taking on its unique risk-reward profile.
Quick Overview of the Flow
- Create a Solana wallet (Phantom, Solflare, Backpack).
- Buy USDC on an exchange for the lowest friction on Solana.
- Withdraw USDC via the Solana network (SPL) to your wallet address.
- Go to Jupiter Perps and mint JLP by depositing USDC.
- Track your JLP, pool metrics, fees, and any lockups/redemption rules.
Why Start With CoinEx for Funding
Getting USDC onto Solana is easiest when your exchange supports SPL withdrawals. CoinEx supports SOL and major stablecoins with reliable processing and competitive fees. You can:
- Buy USDC or SOL directly with fiat or other crypto.
- Withdraw to your Solana wallet using the correct network (SPL for USDC, Solana for SOL).
Start here to lock in the referral benefit:
– Create your CoinEx account with code mhz7w
– Keep the code handy: mhz7w
Step 1 — Set Up Your Solana Wallet
You’ll need a self-custody wallet that supports Solana and SPL tokens.
Popular choices:
– Phantom
– Solflare
– Backpack
Essentials:
– Back up your seed phrase securely and offline.
– Enable auto-approve only if you fully trust the site and understand the risks.
– Add a small amount of SOL for network fees (Solana fees are usually fractions of a cent, but you still need a tiny SOL balance to transact).
Step 2 — Create and Fund Your CoinEx Account
- Sign up: CoinEx registration with code mhz7w
- Complete security steps such as 2FA and withdrawal whitelists.
- Deposit fiat or crypto. If you already hold crypto elsewhere, deposit to CoinEx and trade for USDC.
Pro tip:
– Trading USDC on the exchange typically gives you the cleanest path to JLP because most liquidity pools accept USDC as the base deposit asset on Solana.
Step 3 — Buy USDC and Withdraw via Solana (SPL)
- On CoinEx, buy USDC with your deposited funds.
- Go to Withdraw and choose USDC.
- Network selection is critical: choose Solana or SPL (not ERC20, not TRC20).
- Paste your Solana wallet address from Phantom/Solflare/Backpack.
- Verify the memo/tag requirements (for Solana SPL USDC, typically no memo is needed, but always follow the exchange’s instructions).
- Double-check everything and confirm the withdrawal.
Within a short time, your USDC should appear in your Solana wallet. If it doesn’t, confirm the network and the token mint are correct in your wallet interface.
Step 4 — Navigate to Jupiter Perpetuals and Find JLP
Jupiter’s perps live under their dedicated interface. A typical entry point is the official site. For convenience, you can search “Jupiter Perps JLP” and bookmark the authentic domain. Always confirm URL authenticity before connecting your wallet.
Steps:
– Open the Jupiter Perps app in your browser.
– Connect your Solana wallet.
– Navigate to the liquidity or pool section.
– Find the “Mint JLP” or “Provide Liquidity” module.
Tip:
– If the app requires any permissions, review the prompts carefully and verify that you’re on the legit site.
Step 5 — Mint JLP With Your USDC
- In the Mint/Provide Liquidity panel, select USDC as the deposit token.
- Enter the amount you want to supply. Keep a little USDC and SOL leftover for fees and other operations.
- Review the quoted amount of JLP you will receive, fees, and any applicable cooldowns or redemption schedules.
- Confirm the transaction in your wallet.
After confirmation, you should see your JLP balance in your wallet (or in the app UI). You can also add the JLP token mint to your wallet’s custom token list if it doesn’t appear automatically.
Step 6 — Track Performance and Understand PnL
As a JLP holder, your exposure is to the perps pool’s aggregate performance, not a single trader. Key factors:
- Trading fees: These can accrue to the pool, benefiting JLP holders over time.
- Funding: Depending on design, funding mechanics may affect pool returns.
- Trader PnL: When traders win, the pool may lose, and vice versa. Returns are variable.
- Pool composition: Some pools include multiple assets; the value of JLP can depend on the underlying basket and risk parameters.
Always read the official docs for the latest fee schedules, caps, mint/redeem parameters, and risk notes.
Common Mistakes to Avoid
- Wrong network on withdrawal: For USDC, make sure you pick Solana/SPL on the exchange. Using ERC20 or TRC20 by mistake will not land in your Solana wallet.
- Insufficient SOL for fees: Keep a small amount of SOL in your wallet.
- Ignoring redemption rules: Some LP systems include cooldowns or fees when you redeem JLP back to USDC—know these before minting.
- Phishing sites: Bookmark official URLs. Never enter your seed phrase on a website. Use hardware wallets for larger amounts.
How to Redeem JLP Back to USDC
- Open Jupiter Perps and go to the Liquidity section.
- Select Redeem or Remove Liquidity.
- Enter the JLP amount you want to redeem.
- Review expected USDC received, fees, and any cooldown.
- Confirm the transaction in your wallet.
If you plan to cash out to fiat, you can send USDC back to CoinEx over Solana and trade for fiat or another asset.
Fast-Track Checklist — From Zero to JLP
1) Wallet
– Install Phantom or Solflare.
– Back up seed phrase and fund with a small amount of SOL.
2) Exchange
– Register with referral: CoinEx account with mhz7w
– Buy USDC.
3) Withdraw
– Choose network: Solana/SPL.
– Send USDC to your Solana address.
4) Mint JLP
– Connect wallet to Jupiter Perps.
– Deposit USDC.
– Receive JLP.
5) Monitor
– Check pool metrics and fees.
– Understand redemption process.
Smart Security and Funding Tips
- Use 2FA and withdrawal whitelists on your exchange.
- Consider a hardware wallet for significant balances.
- Keep a small SOL buffer (e.g., 0.05–0.2 SOL) for months of transactions.
- Verify token mints: For USDC, the canonical mint on Solana is well known; rely on wallet auto-verified lists or official docs.
- Watch for slippage, fees, and any rate limits.
Fee Awareness and Timing
- Solana network fees are minimal, but on-chain operations still require SOL.
- Jupiter Perps may charge mint/redeem or performance-related fees—check the current schedule in the app or docs.
- Exchanges charge withdrawal fees; check CoinEx’s fee page before withdrawing.
- Time redemptions thoughtfully if there are cooldowns to optimize your costs.
Frequently Asked Questions About JLP
-
What wallet is best for JLP on Solana?
Phantom and Solflare are widely used, simple, and well-integrated. Backpack is also popular with advanced users. -
Do I need KYC to use CoinEx for USDC?
Check current CoinEx requirements. Many users can trade crypto-to-crypto quickly, but fiat ramps may require KYC. -
Can I mint JLP with SOL instead of USDC?
The simplest and most common route is USDC. If other assets are accepted, the Jupiter Perps UI will show them. Always check the current accepted deposit tokens. -
Is JLP a stable asset?
No. JLP is a liquidity provider token tied to a derivatives pool. Its value can fluctuate based on pool PnL, fees, and market conditions. -
How do I value my JLP?
The app typically displays a JLP price or value in USDC terms. It reflects the pool’s total assets, liabilities, and outstanding JLP supply. -
Can I lose money providing liquidity to perps?
Yes. If the pool experiences drawdowns (e.g., traders as a group win), JLP can decrease in value. Understand the risk before minting.
Long-Tail Tips for Efficiency and Reliability
- Start small to learn the workflow. Mint a tiny amount of JLP to confirm your process before scaling up.
- Favor USDC on Solana when first learning. It’s the most straightforward path for How to buy Jupiter Perpetuals Liquidity Provider Token(JLP).
- Keep your wallet clean and organized—label accounts, pin trusted dApps, and hide spam tokens.
- Monitor community channels or official announcements for updates to fees, supported assets, and pool parameters.
Why This Process Works Well
JLP lives on Solana, and Solana excels at fast, low-cost activity. By pairing it with an exchange that cleanly supports SPL withdrawals, you reduce friction points that cause most user errors—like wrong networks or excessive fees. Using CoinEx as your on-ramp keeps the steps simple and repeatable:
- Join CoinEx with code mhz7w
- Trade for USDC.
- Withdraw via Solana.
- Mint JLP on Jupiter Perps.
This step-by-step path cuts out network mismatches, keeps fees low, and gets you to your JLP without confusion.
Final Notes Before You Mint JLP
- Double-check you’re on the authentic Jupiter Perps app.
- Confirm the accepted deposit asset (typically USDC on Solana).
- Read current fee, redemption, and cooldown details.
- Keep SOL in your wallet for network fees.
- Protect your seed phrase and never share it with anyone.
Ready to begin? Start here and get your funding set up in a few clicks:
- Create your CoinEx account with code mhz7w
- Referral shortcut: mhz7w
This is an educational walkthrough, not financial advice. DeFi and perps liquidity carry risk—only deposit what you can afford to lock and monitor your positions regularly.
