Jet Protocol Product, Community and Job Updates

Updates on the planned product features of Jet Protocol, community updates and more

Greetings from the flight deck, it’s been nothing but clear skies and strong tailwinds since announcing Jet Protocol last week.

We’re excited to share some updates with the community which will firm up a bit more detail regarding the progress and path of the team and protocol. Please ensure your tray tables and seat rests are in the upright position!

What Is Jet?

We avoid altogether the platitude of “re-inventing” things that have existed forever. Instead the focus is to use our experience as cryptocurrency traders, DeFi power-users, and governance participants to create more effective markets.

We’re building Jet because we believe we know what users want - capital efficiency, lower costs and flexibility with their money. Solana’s technology removes constraints surrounding limitations. For example, high gas costs. Solana has also enabled financial innovation at a fundamental level not possible on existing and widely used Layer 1’s. We believe Jet will make the DeFi borrowing and lending experience better.

Core Lending Protocol

Jet’s core lending function will build on the token-lending program found in the Solana Program Library repository as well as the applicable cross-margin pull request for the initial mainnet launch. From there, our development team will carry forward the iterative improvement and maintenance of the protocol.

Lending Products

Beginning with the launch of the cross-margined lending protocol, extendable via APIs will be provided to traders, market-makers, and liquidity providers, as well as the following concepts:

  • Liquidity mining

  • Innovative new liquidation mechanisms

  • Implementation of interest-bearing tokens

  • Cross-chain modules for equalization of interest rates

The Jet protocol will provide Solana market participants a place to deposit and borrow against their assets and manage their debt positions. This functionality provides extensibility to the Solana ecosystem to explore topics such as:

  • Leveraged borrowing automated position management

  • Liquidity provisioning for senior and junior debt positions

Community

In the first week of launching the Jet community our expectations were wildly exceeded. We’ve been blown away by the support so far and are grateful for all of the individuals who’ve joined the conversation from around the globe in making innovative borrowing and lending on Solana a greater possibility.

A few quick in-flight snacks on community member growth stats so far*:

  • Discord: 10,980

  • Twitter: 6,487

  • Telegram: 2,215

  • Newsletter: 552

  • Blog: 381

As of 5/3/21*

A big shout out to the team at MGNR for helping us mobilize the necessary resources getting the community moderation off the ground. Also thanks to the great community members who have taken on the tasks of answering questions and directing new members to the info they need. We’re grateful for you all!

We’re Hiring

This plane cannot fly without a world-class crew, which is why we are actively hiring for two crucial roles:

We plan to hire at least 2 additional pure Rust backend developers and 1 developer to help us build the front end. Blockchain and DeFi experience are welcomed backgrounds we’d love to have on the team in addition to strong technical chops. Also a passion and willingness to learn are strongly desired. Particularly if you’ve been on the DeFi sidelines and hail from traditional finance, we’d love to talk with you!

We will continue to share details regarding the platform’s specifics and ways to get involved with the development of the protocol in the coming weeks. Thank you for flying with us!

Disclaimer: The statements, proposals, and details contained above are informational only, and subject to change. We are in early stage development and may need to change dates, details, or the project as a whole based on the protocol, team, legal or regulatory needs, or due to developments of Solana.


Get In Touch

🌐 Visit us at JetProtocol.io 🌐

📩 Email us at hello[at]JetProtocol[dot]io 📩

💬Chat with us on Telegram or Discord 💬

🐦 Find us on Twitter — @JetProtocol 🐦

📰 Subscribe to our newsletter: https://jetprotocol.substack.com📰