Jupiter Distances Itself From Metis Router as Aggregator Wars Rage On

Jupiter has formally cut ties with its Metis swap router, doubling down on its premier swap algorithm, Jupiter Ultra.

The change comes as competition between Solana DEX aggregators flares to new heights, which saw rivals use Metis’ quotes to paint unfavorable comparisons between trading venues.

Meanwhile, DFlow continues to grow its market share. Was the insurgent aggregator’s surge in volume a sign of things to come?

Metis to Stand Alone

On November 17, Jupiter unveiled its final update to the Metis router, using the announcement to separate itself from the product that has powered much of Solana DeFi since 2021. Improvements to the Metis v7 engine include JIT aggregation routing, Brent Op splitting, and the integration of new liquidity venues.

Despite processing trillions in volume and providing swap functionality for dozens of apps, Metis v7 has been cast out of Jupiter’s orbit to stand on its own two feet. Instead, the DeFi super app claims it will be focusing on enhancing its most powerful routing product, Jupiter Ultra.

However, while Jupiter has indicated that Metis is now a standalone router separate from the rest of its expansive product suite, it appears Jupiter still has oversight and influence over its integration in third-party apps. 

Access to the Metis Binary Key requires that operators stake 10,000 $JUP tokens, suggesting Jupiter is still managing Metis, despite its new status as a standalone project.

Re-Branding, Or De-Weaponizing Rivals?

Competition between Solana’s aggregators has become one of the network’s fiercest battlefields in recent weeks. With emerging aggregators like Titan gaining market share, team members from rival aggregators, like Jupiter and DFlow, called out Titan’s use of legacy swap API’s for comparison quotes between venues.

By formally separating Metis from Jupiter’s product suite, the DeFi superapp has ensured that rivals will no longer be able to use Metis quotes to give favorable comparisons for their own products.

According to the post, cutting ties with the Metis router reinforces its mission to establish Jupiter as the one-stop-shop for Solana DeFi, as opposed to being known primarily as a swap aggregator. Arguably, declaring Metis as a standalone router means that Jupiter is trading in brand recognition and distribution across Solana DeFi in favor of greater execution within its native products.

DFlow Briefly Flips Jupiter in Daily Volume

While Jupiter doubles down on Ultra, emerging aggregators are challenging the incumbent’s dominance. On November 15, DFlow flipped Jupiter in daily volume, recording 48.5% of the total trading volume routed through Solana’s DEX aggregators.

Processing $1.21B in daily trade volume, DFlow’s surge represents the first time in Solana’s history that a platform other than Jupiter has topped aggregator market share, edging out the market leader by a mere $17M. 

However, given that DFlow’s dominance dropped to 6.6% the following day, it’s hard to ascertain whether these flares of volume will become commonplace or remain as isolated events.

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