Audit log

Every state-changing event for Jupiter Perps: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-06-01 13:19:54Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 423,599,800

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   38xX26y6UBB5…bQFVGqfPcopyexplorer ↗

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   2VbmT3GUccCM…yekZxNftcopysha256 → base58

   verifying row…full verify ↗

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   {"actor":"system:backfill","investigation_id":"6539e14c-8eb6-4307-8cf9-bd28d784c81c","kind":"publish","page_slug":"jupiter-perps","published_at":"2026-06-01T13:19:53.966Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Jupiter Perps","sections":[{"content":"Jupiter Perps launched in Q4 2023 as a perpetual futures exchange native to Solana. It operates as a trader-to-LP model, where the Jupiter Liquidity Pool (JLP) acts as the direct counterparty to all leveraged positions. Supported markets are limited to three major assets — SOL, ETH, and wBTC — with maximum leverage that was raised to 250x across all three assets in mid-2025 (previously 100x–150x depending on asset). By 2024, Jupiter Perps reached $100 billion in cumulative trading volume and became the second-largest perpetuals DEX in DeFi by TVL. The JLP pool surpassed $2 billion TVL in September 2025. Jupiter distributed $137.6 million in trading fees to JLP holders from January through approximately Q3 2024 alone. Moonshot International announced integration of Jupiter Perpetuals for its 2 million mobile users in March 2026, signaling continued ecosystem expansion.","heading":"Product Overview and Market Position","severity":"low","sources":[{"credibility":2,"name":"Jupiter Perpetual Exchange Distributes $137M to JLP Since January 1st","type":"news_article","url":"https://solanafloor.com/news/jupiter-perpetual-exchange-distributes-137m-jlp-since-january-1st"},{"credibility":2,"name":"Jupiter's Liquidity Pool TVL Surpasses $2 Billion","type":"news_article","url":"https://bitcoinethereumnews.com/tech/jupiters-liquidity-pool-tvl-exceeds-2-billion/"},{"credibility":2,"name":"Moonshot International Integrates Jupiter Perpetuals","type":"news_article","url":"https://www.prnewswire.com/news-releases/moonshot-international-integrates-jupiter-perpetuals-to-power-mobile-leverage-trading-for-2m-users-302713923.html"},{"credibility":2,"name":"Jupiter Perps 250x Leverage Upgrade Announcement","type":"social_media","url":"https://x.com/JupiterExchange/status/1976263714581225715"}]},{"content":"Jupiter Perps prices all positions using a three-oracle composite system: Edge by Chaos Labs serves as the primary feed, with Chainlink and Pyth Network providing independent verification and fallback pricing. The platform migrated to Edge as its primary oracle in September 2024 after Chaos Labs emerged from stealth; at that point Edge had already secured $30 billion in Jupiter trading volume. Following the migration, Jupiter reported a 70% reduction in price-staleness events and an 80% decrease in oracle update fees. Trades execute at oracle mid-price with no orderbook slippage, eliminating in-platform price manipulation by traders, though the documentation explicitly flags oracle price divergence from other venues as a risk to traders. Chaos Labs also deployed a continuous 24/7 monitoring system covering price composition, availability, latency, precision, and manipulation risk for all Jupiter price feeds. The multi-oracle approach mitigates single-point-of-failure risk compared with single-feed perpetuals venues, though oracle latency remains structurally slower than off-chain centralized exchange solutions.","heading":"Oracle Model and Price Feed Infrastructure","severity":"medium","sources":[{"credibility":2,"name":"Edge Oracle Emerges from Stealth with Jupiter — Decrypt","type":"news_article","url":"https://decrypt.co/249123/edge-the-new-decentralized-oracle-protocol-by-chaos-labs-emerges-from-stealth-with-jupiter-30b-volume-secured-over-the-last-2-months"},{"credibility":2,"name":"Chaos Labs Partners with Jupiter Protocol","type":"official","url":"https://chaoslabs.xyz/posts/chaos-labs-partners-with-jupiter-protocol"},{"credibility":2,"name":"Jupiter Perps and JLP Overview — Official Documentation","type":"official","url":"https://docs.jup.ag/user-docs/trade/perps-and-jlp"}]},{"content":"The JLP pool holds five assets: SOL, ETH, wBTC, USDC, and USDT. JLP token holders earn 75% of all fees generated by the exchange (trading fees, borrow fees, and price impact fees). JLP holders bear the full counterparty risk of the pool: when traders are collectively profitable, the pool pays out those gains; when traders lose, the losses accrue to the pool. This design means JLP is not a market-neutral product — it has directional exposure correlated with periods of strong trending markets in which leveraged longs profit at the pool's expense. Jupiter manages open interest and utilization through a dynamic dual-slope borrow fee model: rates escalate aggressively when custody utilization exceeds a target threshold, discouraging excessive unilateral directional crowding. A price impact fee was implemented in June 2024 based on Gauntlet's recommendations specifically to deter large-order manipulation that could harm JLP holders. Jupiter's perp markets are restricted to three high-liquidity assets (SOL, ETH, wBTC), which structurally limits the thin-market vulnerability that affected other perp venues. JLP tokens can be used as collateral in external lending protocols (e.g., Kamino), creating potential compounding leverage that is external to Jupiter's own risk controls.","heading":"JLP Counterparty Risk and Liquidity Pool Mechanics","severity":"medium","sources":[{"credibility":2,"name":"Jupiter Risk Vault Unlikely to Face Hyperliquid-Style Attack — Blockworks","type":"news_article","url":"https://blockworks.com/news/jupiter-solana-risk-vault-hyperliquid-attack"},{"credibility":2,"name":"Gauntlet Jupiter Perpetuals Fee Structure Analysis","type":"research","url":"https://www.gauntlet.xyz/resources/jupiter-perpetuals-fee-structure-implementation-and-proposed-adjustments"},{"credibility":2,"name":"Gauntlet Jupiter Partnership — Jupiter Research Forum","type":"community_report","url":"https://discuss.jup.ag/t/gauntlet-jupiter-partnership/14045"},{"credibility":2,"name":"A Deep Dive into the Jupiter Perpetual Exchange Product — Decentral Park Capital","type":"research","url":"https://decentralparkcapital.substack.com/p/a-deep-dive-into-the-jupiter-perpetual-0d2"}]},{"content":"Jupiter Perps has been audited by three independent firms: OtterSec, Offside Labs, and Sec3. The OtterSec audit was conducted between October 3 and November 15, 2023 and produced nine total findings, including two high-severity issues: a rounding error in average position price computation and the possibility of updating a position request to front-run the keeper. OtterSec also flagged potential fund loss scenarios involving a malicious keeper, and recommended adding multiple pool authorities and a predefined withdrawal delay. The Offside Labs assessment (February–March 2024) identified issues including limit-order execution edge cases, sequential-execution requirements to prevent accidentally skipped requests, and slippage handling for token-swap collateral deposits; it recommended disabling the swap feature for limit orders to address a safeguard gap. All reported issues were marked as acknowledged or fixed by the time of audit publication. No critical-severity vulnerabilities were disclosed in any of the three audit reports. All audit PDFs are linked from Jupiter's official developer documentation. Jupiter's broader product suite (Swap, Lend, Limit Order, Lock, DAO) has also undergone separate audits by overlapping firm sets, suggesting an ongoing third-party security program.","heading":"Smart Contract Audits","severity":"low","sources":[{"credibility":1,"name":"Jupiter Perpetuals Smart Contract Security Assessment — Offside Labs (February 2024)","type":"research","url":"https://hub.jup.ag/assets/files/perpetual-offside-66183264a9656eef393cedfb0e2d5db1.pdf"},{"credibility":1,"name":"Jupiter Perp Audit — OtterSec","type":"research","url":"https://hub.jup.ag/assets/files/ottersec_perpetual_audit_report-573977253c463e70541dda93ac533d0b.pdf"},{"credibility":2,"name":"Jupiter Audits — Official Developer Documentation","type":"official","url":"https://developers.jup.ag/docs/resources/audits"}]},{"content":"Liquidations on Jupiter Perps are fully automated by smart contract. When a position's margin rate falls below the maintenance margin threshold (approximately 0.625% of position size, equating to a margin ratio below 6.25%), the keeper network closes the position at the current oracle price. Every trade requires two sequential on-chain transactions: a trader's request submission followed by a keeper's validation and execution. The keeper-based execution model introduces a theoretical trust assumption: the OtterSec audit noted a potential fund-loss scenario if a malicious keeper acted adversarially, and recommended safeguards including multiple pool authorities. Borrow fees accrue continuously and increase a position's liquidation price over time, an explicit risk disclosed in the official documentation. The Gauntlet partnership provided ongoing borrowing-rate optimization, with a June 2024 proposal to reduce uniform borrow rates from 0.01% to 0.008% per hour across SOL, ETH, and BTC to improve competitiveness while maintaining JLP yield.","heading":"Liquidation Mechanism","severity":"medium","sources":[{"credibility":2,"name":"Jupiter Perps and JLP Overview — Official Documentation","type":"official","url":"https://docs.jup.ag/user-docs/trade/perps-and-jlp"},{"credibility":1,"name":"Jupiter Perp Audit — OtterSec","type":"research","url":"https://hub.jup.ag/assets/files/ottersec_perpetual_audit_report-573977253c463e70541dda93ac533d0b.pdf"},{"credibility":2,"name":"Gauntlet Jupiter Perpetuals Borrowing Rate Optimization","type":"research","url":"https://discuss.jup.ag/t/gauntlet-jupiter-perpetuals-optimization-borrowing-rate-reduction-and-competitive-analysis-vs-okx-and-bybit/21580"}]},{"content":"No critical exploits against Jupiter Perps' own smart contracts have been publicly reported as of the investigation date. However, JLP tokens held within Drift Protocol's JLP delta-neutral and super-staking vaults were among the assets drained in the April 1, 2026 Drift Protocol exploit. On-chain reports indicate approximately 41.72 million JLP tokens (worth roughly $155 million at the time) were among assets transferred out of Drift during the attack. The Drift exploit was attributed by Elliptic and TRM Labs to North Korean state-sponsored actors; the attack method involved compromised Drift admin keys, creation of a fake collateral token, and disabling of withdrawal guards — not a vulnerability in Jupiter Perps' own contracts. Jupiter Exchange's JUP token price dropped approximately 3.25% in the immediate aftermath of the Drift news. This incident illustrates compositional risk: JLP can be deposited into third-party protocols, and vulnerabilities in those protocols can result in JLP losses even when Jupiter Perps itself is not compromised.","heading":"Security Incidents and Third-Party Exposure","severity":"high","sources":[{"credibility":2,"name":"$285M Gone in 12 Minutes: How a Fake Token and Stolen Keys Gutted Drift Protocol — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/04/03/285m-gone-in-12-minutes-how-a-fake-token-and-stolen-keys-gutted-drift-protocol/"},{"credibility":2,"name":"Drift Protocol Hack 2026: What Happened, Who Lost Money, and What's Next — Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/drift-protocol-hack-2026-what-happened-who-lost-money-and-whats-next/"},{"credibility":2,"name":"Jupiter Drops 3.25% as Drift Exploit Drains $270M — CoinMarketCap","type":"news_article","url":"https://coinmarketcap.com/top-stories/69cdcedbba76c938030ee217/"},{"credibility":2,"name":"Drift Protocol Hit by $285M Exploit — CCN","type":"news_article","url":"https://www.ccn.com/news/crypto/drift-protocol-285m-biggest-hack-2026-april-fools-day/"}]},{"content":"Jupiter Exchange was co-founded by pseudonymous figure 'Meow' and Ben Chow. Meow, whose real identity is publicly undisclosed, has a background in the Ethereum ecosystem including co-founding Wrapped Bitcoin (wBTC) and advising Instadapp, Kyber Network, and Blockfolio. Meow operates as the public-facing CEO and community leader for Jupiter Exchange. Ben Chow, whose identity is publicly known, previously co-founded Jupiter and later co-founded Meteora, a related Solana AMM protocol. Chow resigned from Meteora in February 2025 following controversy over his alleged involvement with the LIBRA memecoin launch and associated insider trading allegations; this controversy pertained to Meteora rather than Jupiter Perps directly. The pseudonymous nature of the primary founder is a standard risk signal in DeFi assessment. Protocol governance is nominally directed by JUP token holders, with changes discussed on the Jupiter Research governance forum and parameter recommendations published publicly by Gauntlet and Chaos Labs. The program upgrade authority structure (whether upgradeable via multisig or frozen) has not been publicly confirmed in available sources.","heading":"Team and Governance","severity":"medium","sources":[{"credibility":3,"name":"Meow — IQ.wiki Biography","type":"other","url":"https://iq.wiki/wiki/meow"},{"credibility":2,"name":"Ben Chow Steps Down After LIBRA Token Controversy — BitDegree","type":"news_article","url":"https://www.bitdegree.org/crypto/news/meteora-co-founder-ben-chow-steps-down-after-libra-token-controversy"},{"credibility":2,"name":"Meteora Co-Founder Ben Chow Resigns Amid Meme Coin Scheme Allegations — DeFi Planet","type":"news_article","url":"https://defi-planet.com/2025/02/meteora-co-founder-ben-chow-resigns-amid-libra-memecoin-controversy/"},{"credibility":2,"name":"Jupiter's Success: Community-First Approach — VALR Blog","type":"news_article","url":"https://blog.valr.com/blog/jupiters-success-a-community-first-approach-to-growth-ft-meow-founder-of-jupiter-on-solana"}]},{"content":"Jupiter Perps has two active professional risk management relationships. Gauntlet, a quantitative DeFi risk optimization firm, was engaged to fine-tune JLP pool weights, margin and leverage requirements, borrowing rates, and trading fees, with a live public risk dashboard displaying parameter recommendations and utilization metrics. On June 4, 2024, Jupiter implemented a new price impact fee structure based on Gauntlet analysis, designed to discourage large-order manipulation against JLP holders. Chaos Labs manages the oracle layer through its Edge protocol and separately monitors price feeds for anomalies 24/7. The combination of a restricted asset set (three major assets only), dynamic borrow fee escalation, external oracle sourcing, and active risk parameter management distinguishes Jupiter Perps from lower-governance perps venues. Analysis from Blockworks in March 2025 concluded that Jupiter's risk vault is structurally less susceptible to the type of thin-asset oracle manipulation that caused losses at Hyperliquid's HLP vault, due primarily to Jupiter's asset restrictions and reliance on external oracle pricing rather than internal order book prices.","heading":"Risk Management Infrastructure","severity":"low","sources":[{"credibility":2,"name":"Jupiter, Largest Perpetual Exchange on Solana, Taps Gauntlet for Risk Management — Gauntlet","type":"official","url":"https://www.gauntlet.xyz/resources/jupiter-perpetual-exchange-solana-gauntlet-risk-management-optimizations"},{"credibility":2,"name":"Jupiter's Risk Vault Unlikely to Face Hyperliquid-Style Attack — Blockworks","type":"news_article","url":"https://blockworks.com/news/jupiter-solana-risk-vault-hyperliquid-attack"},{"credibility":2,"name":"Edge Oracle Protocol by Chaos Labs Emerges from Stealth with Jupiter — Chainwire","type":"news_article","url":"https://chainwire.org/2024/09/12/edge-the-new-decentralized-oracle-protocol-by-chaos-labs-emerges-from-stealth-with-jupiter-30b-volume-secured-over-the-last-2-months/"}]},{"content":"In mid-2025 Jupiter Perps raised maximum leverage to 250x across all three supported assets. This represents a significant increase from prior limits (100x for BTC, 150x for SOL and ETH). At 250x leverage, a 0.4% adverse price move against a position results in full liquidation of collateral. The official documentation discloses that borrow fees accrue continuously and increase the effective liquidation price over time, compounding the risk of high-leverage positions. While the structural safeguards (oracle pricing, position size constraints via borrow fee escalation) remain in place, the increase to 250x leverage meaningfully raises the liquidation frequency and potential for rapid user-fund loss during volatile conditions. No regulatory scrutiny specific to this leverage limit has been identified in available sources, though regulators in various jurisdictions have historically taken action against venues offering high-leverage derivatives to retail customers.","heading":"High-Leverage Risk (250x)","severity":"medium","sources":[{"credibility":2,"name":"Jupiter Perps 250x Leverage Upgrade — Jupiter Exchange on X","type":"social_media","url":"https://x.com/JupiterExchange/status/1976263714581225715"},{"credibility":2,"name":"Jupiter Perps and JLP Overview — Official Documentation","type":"official","url":"https://docs.jup.ag/user-docs/trade/perps-and-jlp"}]}],"sources_used":[{"credibility":2,"name":"Jupiter Perps and JLP Overview — Official Documentation","type":"official","url":"https://docs.jup.ag/user-docs/trade/perps-and-jlp"},{"credibility":1,"name":"Jupiter Perpetuals Smart Contract Security Assessment — Offside Labs (February 2024)","type":"research","url":"https://hub.jup.ag/assets/files/perpetual-offside-66183264a9656eef393cedfb0e2d5db1.pdf"},{"credibility":1,"name":"Jupiter Perp Audit — OtterSec","type":"research","url":"https://hub.jup.ag/assets/files/ottersec_perpetual_audit_report-573977253c463e70541dda93ac533d0b.pdf"},{"credibility":2,"name":"Jupiter Audits — Official Developer Documentation","type":"official","url":"https://developers.jup.ag/docs/resources/audits"},{"credibility":2,"name":"Edge Oracle Emerges from Stealth with Jupiter — Decrypt","type":"news_article","url":"https://decrypt.co/249123/edge-the-new-decentralized-oracle-protocol-by-chaos-labs-emerges-from-stealth-with-jupiter-30b-volume-secured-over-the-last-2-months"},{"credibility":2,"name":"Chaos Labs Partners with Jupiter Protocol","type":"official","url":"https://chaoslabs.xyz/posts/chaos-labs-partners-with-jupiter-protocol"},{"credibility":2,"name":"Jupiter, Largest Perpetual Exchange on Solana, Taps Gauntlet for Risk Management — Gauntlet","type":"official","url":"https://www.gauntlet.xyz/resources/jupiter-perpetual-exchange-solana-gauntlet-risk-management-optimizations"},{"credibility":2,"name":"Gauntlet Jupiter Perpetuals Fee Structure Analysis","type":"research","url":"https://www.gauntlet.xyz/resources/jupiter-perpetuals-fee-structure-implementation-and-proposed-adjustments"},{"credibility":2,"name":"Gauntlet Jupiter Partnership — Jupiter Research Forum","type":"community_report","url":"https://discuss.jup.ag/t/gauntlet-jupiter-partnership/14045"},{"credibility":2,"name":"Jupiter Perpetual Exchange Distributes $137M to JLP — Solana Floor","type":"news_article","url":"https://solanafloor.com/news/jupiter-perpetual-exchange-distributes-137m-jlp-since-january-1st"},{"credibility":2,"name":"Jupiter's Liquidity Pool TVL Surpasses $2 Billion — Bitcoin Ethereum News","type":"news_article","url":"https://bitcoinethereumnews.com/tech/jupiters-liquidity-pool-tvl-exceeds-2-billion/"},{"credibility":2,"name":"Jupiter's Risk Vault Unlikely to Face Hyperliquid-Style Attack — Blockworks","type":"news_article","url":"https://blockworks.com/news/jupiter-solana-risk-vault-hyperliquid-attack"},{"credibility":2,"name":"A Deep Dive into the Jupiter Perpetual Exchange Product — Decentral Park Capital","type":"research","url":"https://decentralparkcapital.substack.com/p/a-deep-dive-into-the-jupiter-perpetual-0d2"},{"credibility":2,"name":"$285M Gone in 12 Minutes: Drift Protocol Hack — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/04/03/285m-gone-in-12-minutes-how-a-fake-token-and-stolen-keys-gutted-drift-protocol/"},{"credibility":2,"name":"Drift Protocol Hack 2026 — Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/drift-protocol-hack-2026-what-happened-who-lost-money-and-whats-next/"},{"credibility":2,"name":"Jupiter Drops 3.25% as Drift Exploit Drains $270M — CoinMarketCap","type":"news_article","url":"https://coinmarketcap.com/top-stories/69cdcedbba76c938030ee217/"},{"credibility":2,"name":"Meteora Co-Founder Ben Chow Resigns Amid Meme Coin Scheme Allegations — DeFi Planet","type":"news_article","url":"https://defi-planet.com/2025/02/meteora-co-founder-ben-chow-resigns-amid-libra-memecoin-controversy/"},{"credibility":2,"name":"Moonshot International Integrates Jupiter Perpetuals — PR Newswire","type":"news_article","url":"https://www.prnewswire.com/news-releases/moonshot-international-integrates-jupiter-perpetuals-to-power-mobile-leverage-trading-for-2m-users-302713923.html"},{"credibility":2,"name":"Gauntlet Jupiter Perpetuals Borrowing Rate Optimization","type":"research","url":"https://discuss.jup.ag/t/gauntlet-jupiter-perpetuals-optimization-borrowing-rate-reduction-and-competitive-analysis-vs-okx-and-bybit/21580"},{"credibility":2,"name":"Jupiter Perps LP on CoinGecko","type":"other","url":"https://www.coingecko.com/en/coins/jupiter-perpetuals-liquidity-provider-token"}],"summary":"Jupiter Perps is a perpetual-futures decentralized exchange (DEX) built on Solana, operated by Jupiter Exchange, offering up to 250x leveraged trading on SOL, ETH, and wBTC against a shared liquidity pool called JLP (Jupiter Liquidity Pool). The protocol has grown to become the dominant perps venue on Solana with a JLP TVL that surpassed $2 billion in September 2025 and over $100 billion in cumulative trading volume as of 2024. The platform has undergone multiple independent smart contract audits with no critical exploits against its own contracts reported, though JLP token holdings in third-party vaults were implicated as stolen assets in the April 2026 Drift Protocol breach.","timeline":[{"date":"2023-10-03","event":"OtterSec begins Jupiter Perpetuals smart contract audit; engagement runs through November 15, 2023.","source":"OtterSec Audit Report","source_url":"https://hub.jup.ag/assets/files/ottersec_perpetual_audit_report-573977253c463e70541dda93ac533d0b.pdf"},{"date":"2023-12-01","event":"Jupiter Perps launches on Solana mainnet in Q4 2023 as an LP-to-trader perpetuals exchange.","source":"The Rapid Rise of Perpetual Trading on Solana — Solana Floor","source_url":"https://solanafloor.com/news/the-rapid-rise-of-perpetual-trading-on-solana-inside-the-rise-of-jupiter-and-adrena"},{"date":"2024-02-20","event":"Offside Labs begins Jupiter Perpetuals Smart Contract Security Assessment; report published March 2024. No critical vulnerabilities found.","source":"Jupiter Perpetuals Smart Contract Security Assessment — Offside Labs","source_url":"https://hub.jup.ag/assets/files/perpetual-offside-66183264a9656eef393cedfb0e2d5db1.pdf"},{"date":"2024-06-04","event":"Jupiter Perpetuals implements new price impact fee structure based on Gauntlet recommendations to protect JLP holders from large-order manipulation.","source":"Gauntlet Jupiter Perpetuals Fee Structure Analysis","source_url":"https://www.gauntlet.xyz/resources/jupiter-perpetuals-fee-structure-implementation-and-proposed-adjustments"},{"date":"2024-09-12","event":"Chaos Labs' Edge oracle protocol emerges from stealth as Jupiter's primary price feed, having secured $30 billion in Jupiter trading volume over two months. Jupiter reports 70% reduction in price-staleness events post-migration.","source":"Edge Oracle Emerges from Stealth with Jupiter — Decrypt","source_url":"https://decrypt.co/249123/edge-the-new-decentralized-oracle-protocol-by-chaos-labs-emerges-from-stealth-with-jupiter-30b-volume-secured-over-the-last-2-months"},{"date":"2024-10-01","event":"Jupiter Perps reaches $100 billion in cumulative trading volume. JLP TVL exceeds $760 million. Platform distributes $137.6 million to JLP holders year-to-date.","source":"Jupiter Perpetual Exchange Distributes $137M to JLP — Solana Floor","source_url":"https://solanafloor.com/news/jupiter-perpetual-exchange-distributes-137m-jlp-since-january-1st"},{"date":"2025-02-01","event":"Jupiter co-founder Ben Chow resigns from Meteora amid LIBRA memecoin controversy involving alleged insider trading; does not directly implicate Jupiter Perps operations.","source":"Meteora Co-Founder Ben Chow Resigns Amid Meme Coin Scheme Allegations — DeFi Planet","source_url":"https://defi-planet.com/2025/02/meteora-co-founder-ben-chow-resigns-amid-libra-memecoin-controversy/"},{"date":"2025-09-07","event":"Jupiter JLP pool TVL surpasses $2 billion on Solana, with an APY of approximately 17.58%.","source":"Jupiter's Liquidity Pool TVL Surpasses $2 Billion — Bitcoin Ethereum News","source_url":"https://bitcoinethereumnews.com/tech/jupiters-liquidity-pool-tvl-exceeds-2-billion/"},{"date":"2025-09-10","event":"Jupiter Perps raises maximum leverage to 250x for BTC, ETH, and SOL (up from 100x–150x previously).","source":"Jupiter Perps 250x Leverage Upgrade — Jupiter Exchange on X","source_url":"https://x.com/JupiterExchange/status/1976263714581225715"},{"date":"2026-03-14","event":"Moonshot International announces integration of Jupiter Perpetuals to serve its 2 million mobile users with up to 250x leverage.","source":"Moonshot International Integrates Jupiter Perpetuals — PR Newswire","source_url":"https://www.prnewswire.com/news-releases/moonshot-international-integrates-jupiter-perpetuals-to-power-mobile-leverage-trading-for-2m-users-302713923.html"},{"date":"2026-04-01","event":"Drift Protocol is exploited for approximately $285 million via compromised admin keys and fake collateral. Approximately 41.72 million JLP tokens (worth ~$155 million) held in Drift vaults are among stolen assets. Jupiter Perps' own contracts are not compromised. JUP price drops ~3.25%.","source":"$285M Gone in 12 Minutes — CryptoTimes","source_url":"https://www.cryptotimes.io/2026/04/03/285m-gone-in-12-minutes-how-a-fake-token-and-stolen-keys-gutted-drift-protocol/"}]},"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision 91cf011f-a878-45f0-88eb-5d486d75c6bacopy
2. #2reviewby reviewerreviewer

   2026-06-03 15:30:08Z
   Score: 74 → 74 (no score change)
   The investigation page is substantially well-sourced and accurate across most factual claims. The most significant finding is that the description of the April 2026 Drift exploit as using 'compromised admin keys' is an oversimplification: authoritative sources (TRM Labs, Elliptic, The Hacker News, Chainalysis) consistently characterize the attack as social engineering of multisig signers via Solana's durable nonce mechanism. Two audit PDF URLs (hub.jup.ag OtterSec and Offside Labs) are link-rotted (redirect chain ends in 404) though the audits themselves are accessible via the official audits page on GitHub. One claim about the malicious keeper finding's severity is potentially overstated relative to the audit report's actual medium-severity classification.
   anchoranchored

   chain

   ●mainnet-betaslot 424,054,058

   sig

   3EnaDt4wJh4v…pRfY1VXccopyexplorer ↗

   hash

   8Btkx1azZExj…xPLVVsHAcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1116 B) ▸

   {"actor":"reviewer","decided_at":"2026-06-03T15:30:08.378Z","decision":"review","investigation_id":"6539e14c-8eb6-4307-8cf9-bd28d784c81c","new_score":74,"page_slug":"jupiter-perps","prev_score":74,"reason":"The investigation page is substantially well-sourced and accurate across most factual claims. The most significant finding is that the description of the April 2026 Drift exploit as using 'compromised admin keys' is an oversimplification: authoritative sources (TRM Labs, Elliptic, The Hacker News, Chainalysis) consistently characterize the attack as social engineering of multisig signers via Solana's durable nonce mechanism. Two audit PDF URLs (hub.jup.ag OtterSec and Offside Labs) are link-rotted (redirect chain ends in 404) though the audits themselves are accessible via the official audits page on GitHub. One claim about the malicious keeper finding's severity is potentially overstated relative to the audit report's actual medium-severity classification.","score_delta":0,"sequence_num":2,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision fb88cb3f-0d06-459b-addb-8dae5812a257copy
3. #3review reviseby judgejudge

   2026-06-03 15:30:08Z
   Score: 74 → 66 (-8)
   The page is substantially accurate across 20 of 27 verified claims. The most significant issue is that claim_findings[18] describes the April 2026 Drift exploit as using 'compromised Drift admin keys', which three Tier 1 sources (TRM Labs, Elliptic, The Hacker News) consistently characterize as social engineering of multisig signers via Solana's durable nonce mechanism — not a direct key compromise. This mischaracterization appears in the high-severity security section and should be corrected for accuracy, though the surrounding material facts (dollar amounts, JLP exposure, DPRK attribution) are confirmed. Additionally, claim_findings[13] may slightly overstate the severity of the malicious keeper finding (medium, not high), and claim_findings[22] on Meow's wBTC co-founder role is broadly but not definitively supported by the primary cited source. Two hub.jup.ag audit PDF URLs are link-rotted, though both audits remain accessible via the canonical developers.jup.ag page. Two high-priority coverage gaps — on-chain upgrade authority status and regulatory exposure for the 250x leverage offering — are material omissions that should be addressed in revision.
   anchoranchored

   chain

   ●mainnet-betaslot 424,054,062

   sig

   2UNv5YmKfV1x…BiS5vme7copyexplorer ↗

   hash

   8Dk3V8sWGe3B…CDnUEuj2copysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1525 B) ▸

   {"actor":"judge","decided_at":"2026-06-03T15:30:08.378Z","decision":"review_revise","investigation_id":"6539e14c-8eb6-4307-8cf9-bd28d784c81c","new_score":66,"page_slug":"jupiter-perps","prev_score":74,"reason":"The page is substantially accurate across 20 of 27 verified claims. The most significant issue is that claim_findings[18] describes the April 2026 Drift exploit as using 'compromised Drift admin keys', which three Tier 1 sources (TRM Labs, Elliptic, The Hacker News) consistently characterize as social engineering of multisig signers via Solana's durable nonce mechanism — not a direct key compromise. This mischaracterization appears in the high-severity security section and should be corrected for accuracy, though the surrounding material facts (dollar amounts, JLP exposure, DPRK attribution) are confirmed. Additionally, claim_findings[13] may slightly overstate the severity of the malicious keeper finding (medium, not high), and claim_findings[22] on Meow's wBTC co-founder role is broadly but not definitively supported by the primary cited source. Two hub.jup.ag audit PDF URLs are link-rotted, though both audits remain accessible via the canonical developers.jup.ag page. Two high-priority coverage gaps — on-chain upgrade authority status and regulatory exposure for the 250x leverage offering — are material omissions that should be addressed in revision.","score_delta":-8,"sequence_num":3,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision 831958a8-07cd-4677-b43e-c2d8b2a83f75copy
4. #4reviewby reviewerreviewer

   2026-06-08 22:49:43Z
   Score: 66 → 66 (no score change)
   The investigation is largely accurate on verifiable facts — trading volumes, TVL milestones, oracle metrics, audit firm identities, fee distributions, and the Drift hack details are all confirmed or closely corroborated. The most material finding is a disputed maintenance margin figure: the page states 0.625% (margin ratio below 6.25%) but multiple sources citing Jupiter's own documentation indicate the threshold is 0.2% of position size, a meaningful discrepancy. Two additional issues are noted: the original audit PDF URLs exhibit link rot (hub.jup.ag paths now redirect to dead URLs), and the Meow wBTC co-founding claim is overstated relative to what the primary cited source actually says. Coverage gaps are significant, particularly the absence of any regulatory analysis and the unverified upgrade authority status.
   anchoranchored

   chain

   ●mainnet-betaslot 425,204,354

   sig

   227p6bKvgMxP…pDPyAvBhcopyexplorer ↗

   hash

   EhRcJ9HDisf9…EF18HMKjcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1176 B) ▸

   {"actor":"reviewer","decided_at":"2026-06-08T22:49:43.590Z","decision":"review","investigation_id":"6539e14c-8eb6-4307-8cf9-bd28d784c81c","new_score":66,"page_slug":"jupiter-perps","prev_score":66,"reason":"The investigation is largely accurate on verifiable facts — trading volumes, TVL milestones, oracle metrics, audit firm identities, fee distributions, and the Drift hack details are all confirmed or closely corroborated. The most material finding is a disputed maintenance margin figure: the page states 0.625% (margin ratio below 6.25%) but multiple sources citing Jupiter's own documentation indicate the threshold is 0.2% of position size, a meaningful discrepancy. Two additional issues are noted: the original audit PDF URLs exhibit link rot (hub.jup.ag paths now redirect to dead URLs), and the Meow wBTC co-founding claim is overstated relative to what the primary cited source actually says. Coverage gaps are significant, particularly the absence of any regulatory analysis and the unverified upgrade authority status.","score_delta":0,"sequence_num":4,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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   python -m src.verify_decision a24695cd-e455-4e97-94c2-e5c5d4cf4a3ccopy
5. #5review reviseby judgejudge

   2026-06-08 22:49:43Z
   Score: 66 → 54 (-12)
   The investigation is broadly accurate: 18 of 27 claims are fully confirmed by credible sources, and the five partially-supported findings are minor framing imprecisions. However, one claim is directly disputed by official sources: claim_findings[19] states the maintenance margin threshold is 0.625% of position size (margin ratio below 6.25%), while multiple sources citing Jupiter's own documentation put this figure at 0.2% — a material discrepancy in a section readers may rely on for risk assessment. The dependent claim at claim_findings[28] (0.4% adverse move triggers full liquidation at 250x) is therefore also unverifiable. Additionally, the cited OtterSec audit PDF URL (hub.jup.ag) is confirmed dead with link rot, and two high-priority coverage gaps remain unaddressed: the on-chain program upgrade authority status and any regulatory or jurisdictional exposure analysis. Meow's wBTC co-founding claim (claim_findings[22]) is overstated relative to what the primary cited source actually says and should be softened to reflect what is verifiable.
   anchoranchored

   chain

   ●mainnet-betaslot 425,204,357

   sig

   3WZBUNVFQxpM…iSFD3hXFcopyexplorer ↗

   hash

   Btsizhna7zDS…tmnnYp2ncopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1414 B) ▸

   {"actor":"judge","decided_at":"2026-06-08T22:49:43.590Z","decision":"review_revise","investigation_id":"6539e14c-8eb6-4307-8cf9-bd28d784c81c","new_score":54,"page_slug":"jupiter-perps","prev_score":66,"reason":"The investigation is broadly accurate: 18 of 27 claims are fully confirmed by credible sources, and the five partially-supported findings are minor framing imprecisions. However, one claim is directly disputed by official sources: claim_findings[19] states the maintenance margin threshold is 0.625% of position size (margin ratio below 6.25%), while multiple sources citing Jupiter's own documentation put this figure at 0.2% — a material discrepancy in a section readers may rely on for risk assessment. The dependent claim at claim_findings[28] (0.4% adverse move triggers full liquidation at 250x) is therefore also unverifiable. Additionally, the cited OtterSec audit PDF URL (hub.jup.ag) is confirmed dead with link rot, and two high-priority coverage gaps remain unaddressed: the on-chain program upgrade authority status and any regulatory or jurisdictional exposure analysis. Meow's wBTC co-founding claim (claim_findings[22]) is overstated relative to what the primary cited source actually says and should be softened to reflect what is verifiable.","score_delta":-12,"sequence_num":5,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision d6059791-2f9f-459d-9985-15afc0d48d44copy