Jupiter receives a $35 million investment from ParaFi Capital, marking its first outside capital infusion. The transaction involved token purchases at market prices with no discount, settled in Jupiter’s JupUSD stablecoin. The investment follows a year of over $1 trillion in trading volume and expansion into various financial products.

ParaFi Capital also gains warrants to acquire additional tokens at higher prices, aligning long-term interests. Jupiter recently introduced an onchain prediction market and launched JupUSD, a dollar-pegged stablecoin on Solana. Jupiter’s native token, JUP, saw a 9% increase in value over the past 24 hours, according to CoinGecko data.

Venture capital firms are investing in decentralized protocols through token-based deals. In October, a16z Crypto invested $50 million in Jito, a Solana-based liquid staking protocol. Babylon raised $15 million for Bitcoin-native staking and lending. Other categories like decentralized science and identity platforms have also attracted VC funding recently.

Decentralized protocols are gaining attention from venture investors, with Bio Protocol, Babylon, and Humanity Protocol raising significant funds for their blockchain-based projects. These investments signal growing interest in various sectors of decentralized finance and technology. Readers can find more in-depth coverage and analysis in Cointelegraph’s magazine.

Read more at Cointelegraph: ParaFi Capital Backs Jupiter with $35M Strategic Investment