Lending & Borrowing is the currently missing key piece of the Solana blockchain. The Jet Protocol project promises to fill the above gap and be a lever to push the ecosystem to explode in the future.
Jet Protocol is a Lending & Borrowing Protocol developed on the Solana blockchain. With Jet Protocol, you can deposit your assets to lend and receive interest, or mortgage assets to borrow and pay interest on your account. However, unlike the budget communication system, everything happens completely automatically and you have to go through the process of not getting money to borrow or lend money.
Project’s goal is to build a borrowing and lending protocol with market-driven interest rates, rather than the usage curve-based interest rate models currently seen on Ethereum and Solana. Solana’s low fees and high throughput network allow them to create an interest rate market-making experience that’s not only relevant but improves upon the centralized experience everyone is familiar with.
Besides, they will foster an ecosystem of developers, designers, marketers, and entrepreneurs to make the project the best it can be as front end, as well as a liquidity protocol base class for others to build on.
Solana offers brilliant features such as low transaction fees, fast transactions of about 50,000 transactions per second, and scalability. Therefore, an exemplary user interface would be a perfect complement to Solana’s rich offerings. It will offer its users fast and cheaper transactions along with a smooth user interface to maximize the efficiency of borrowing and lending markets in DeFi.
Jet Protocol launches and incorporates
$4.85 million seed round of funding closed
Development of Jet Protocol begins
Launch capped deposit mainnet of core lending MVP
Audit codebase in preparation for un-capped mainnet redeploy
Begin research, design, & implementation of V2
V1 automated leveraged position management
V1 structured products
continued V2 implementation
Late Q4: testing of Jet V2
Jet V2 Launch
Updating …
Updating …
Updating …
Updating…
From cruising altitude they can see the terrain below and storms ahead – they know that markets should set lending rates, not liquidity protocols. They also like to know rates, terms, and conditions in advance. They know that users want to yield on the widest variety of fungible and non-fungible assets – Lending and borrowing are the wind beneath their wings, so most of all they know the value of flexible, capital-efficient margin, across assets, time, and chains.
Project is governance and community-driven effort. They seek to implement lessons learned in other governance-driven DeFi protocols that have come before them. Planning, building, and fostering an amazing community is extremely important to them and as they are able to coalesce around individuals, groups, and our shared goals they believe this will make for a stronger, more resilient, and self-sustaining ecosystem for Jet Protocol and other DeFi applications to thrive within.
Founding members of the project include Wil Barnes and Ryan Moreau, a quick look at their highlights:
Project has just announced raising capital from many well-known funds such as Alameda Research, CMS, DeFiance Capital, Parafi Capital, .. with a total value of up to $4.8 million
From my perspective, offering borrowing and lending services are not innovative in themselves, but offering them with a simple interface that minimizes stress levels is certainly noteworthy. While Jet Protocol faces stiff competition in the DeFi space, it can leverage Solana to maximize benefits for its users. Assuming the project achieves successful take-off, there is a wealth of possibility just around the horizon.
Find more information about Jet Protocol
Website: https://www.jetprotocol.io/
Telegram: https://t.co/2JYjTiWR2j?amp=1
Twitter: https://twitter.com/jetprotocol
Elise
Coincu research
According to Scopescan monitoring, a recent transaction involving an address linked to Amber Group has…
Uniswap founder Hayden Adams has made a bold statement regarding the cryptocurrency market, emphasizing the…
Outflows from the Grayscale Bitcoin ETF signal ongoing investor uncertainty amidst hints of Federal Reserve…
The SEC rejected Coinbase's appeal request regarding applying traditional securities rules to cryptocurrencies.
ARK 21Shares Ethereum ETF is based on this, excluding proof of stake due to SEC…
Crypto supporter Mark Cuban warns of crypto's significance in the 2024 election and condemns SEC…
This website uses cookies.