Jupiter has acquired Rain.fi, enhancing its credit market offerings on Solana with fixed-term lending products. Rain users will benefit from JUP token rewards during this transition phase. However, deposits of stJUP have been suspended while the integration of features into the Jupiter ecosystem takes place.
This partnership aims to significantly grow on-chain credit market capabilities. Rain.fi focuses on facilitating fixed-term loans, which are essential as credit markets develop.
As this acquisition unfolds, users of Rain can expect the Rain app to remain operational for a few months while essential features migrate to Jupiter. Although accessing stJUP deposits is no longer possible, users should begin the unstaking process from Liquid, and continued rewards will be available until the next Automatic Staking Reward cycle. stCOLLAT staking remains unaffected by these changes.
It's important to note that this acquisition arrives amidst a challenging market phase where Jupiter's JUP token has faced price declines, trading at around $0.21, close to record lows, according to CoinGecko data. This market dynamic should be considered by investors evaluating the potential benefits of participating in the Jupiter ecosystem.