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Jupiter (JUP) Launches New API For Faster & Secure Token Data Access – Crypto News

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12 months ago

July 26, 2024

Dripp

Solana-based DEX aggregator, Jupiter, has unveiled a significant update aimed at enhancing its ecosystem. The introduction of a new API promises to revolutionize token data access, fueling discussions across the market. This latest innovation is set to provide users with faster, more secure access to token information, potentially transforming the way projects interact with token data.

Jupiter Introduces Ecosystem Token API

Jupiter’s new API, known as the Ecosystem Token API, consolidates token, market, and partner information into a single, streamlined platform. Over the past two years, the project’s existing token list has become an essential resource for a variety of projects within the ecosystem, from wallets and DEXs to screeners and bots.

However, a recent announcement claims that this new API aims to build on that foundation, offering several key improvements, and fueling discussions in the cryptocurrency market. One of the most notable enhancements is the API’s speed. Built on Jupiter’s new Metropolis infrastructure, the API can surface new tokens from emerging markets almost instantly.

Meanwhile, by streaming all transactions on Solana and filtering for the creation of new markets, the API provides token metadata in under a minute. This represents a significant improvement over the old API, which could take hours to update.

In addition, the API offers multiple endpoints, allowing users to access only verified tokens, the tradable set, or the entire universe of tokens. Users can search by mint address or partner tags, providing greater flexibility and precision in accessing token data. Notably, integrations with community-owned verification systems and partner lists ensure that only validated tokens are included, enhancing the safety and reliability of the data.

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A Closer Look Into The Announcement

Security is a top priority for Jupiter’s new API. The system identifies and removes imposter tokens that mimic the names and symbols of popular tokens. Notably, the Solana DEX aggregator plans to continuously improve the security measures, expanding “heuristics” to better protect the community.

In addition, the new API offers a comprehensive view of token data. It incorporates market metrics such as daily volume on Jupiter and essential metadata like freeze and mint authority. This wider approach enables users to form a complete picture of a token with a single API call, making it a one-stop shop for all token data needs.

Meanwhile, the project plans to sunset its old APIs by the end of August 2024, urging users to migrate to the new system. The new API’s response is designed to be similar to the old one, facilitating an easy transition for users.

However, despite the positive announcement, JUP price was down 5.35% to $0.9643, while its trading volume increased by 39% to $167.51 million.

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