Jet Protocol will launch as an open source, non-custodial, borrowing and lending protocol on the Solana Blockchain (“the Protocol” and “Jet Protocol”). The Protocol will allow users to deposit supported tokens to the Protocol. They will receive interest back to incentivize participation. Those deposits will sit in a pool that is also used for users looking to take out a loan in supported tokens. Because of this, individual users are not matched, and the Protocol can create rules to govern ratios, supported tokens, and a variety of other needs.
We believe that borrowing and lending protocols are necessary to any decentralized finance (“DeFi”) ecosystem. They have been largely successful to date. In developing Jet Protocol we paid close attention to prior efforts on other Blockchains, whether from our own experience or from projects we watched and used. The decision to build on Solana is largely based on Solana’s unmatched speed and lower fees. This will allow us to push the limits of on-chain decentralized finance lending. We anticipate broader interest in more efficient trading than other chains, with tighter collateral ratios (“cRatios”), enhanced oracle data, and more efficient centralized exchange like liquidations.