Jump Crypto is the cryptocurrency arm of Jump Trading Group, a quantitative trading firm. It began in 2015 as a skunkworks intern project.
At the Avalanche Summit in Barcelona, Spain, held in 2022, Jump Crypto's President, Kanav Kariya, revealed that the firm’s crypto operations include getting involved in the decentralized finance (DeFi) space and diversifying from its trading roots to include development, investing, governance voters, and community members. Jump Crypto put up $320 million that was exploited when the hack of the Wormhole cross-chain bridge occurred.
Kanav Kariya, president of Jump Crypto said:
“Blockchains enable global consensus amongst mutually distrusting parties. We believe that current DeFi applications are only the tip of the iceberg. These new, open rails have the capacity to enable innovation and product models that stretch far beyond the realms of traditional financial systems. Jump Trading has spent decades focused on building the infrastructure for high performance systems and technologies. We’re bringing that muscle to crypto and aim to meaningfully contribute to the construction of the ‘plumbing and the railroads’ necessary for widespread adoption of crypto."
Firedancer is a Jump Crypto project to develop critical infrastructure for the Solana blockchain and to help increase the growth of the Solana ecosystem, by increasing the performance of the blockchain and through developing new open source validator clients using the C++ programming language. As validators play an important role in confirming the legitimacy of transactions on the Solana blockchain, Firedancer is intended to increase the speed at which those transactions can be validated and the speed at which DeFi projects can work on the Solana blockchain, all while increasing the networks fault tolerance, and built to be adoptable by the community and be accountable to the underyling network.
As part of the Firedancer project, which will develop validator nodes for the Solana blockchain, Jump Crypto will also offer staking services and allow smaller users to add their own SOL to the validator's pool to earn a share of the rewards through the Firedancer service.