AscendEX[1] is thrilled to announce the listing of the Jet Protocol token (JET) under the trading pair JET/USDT[2] on Oct. 14 at 1 p.m. UTC. To celebrate the listing of JET, AscendEX will host two separate auctions that will take place simultaneously on October 13 between 1 p.m. and 2 p.m. UTC.
Jet Protocol[3] will be launched as an open-source, non-custodial, borrowing and lending protocol on the Solana Blockchain. It engineers new possibilities for capital efficiency, performance, and scalability.
Jet allows users to participate in lending pools where they deposit supported tokens to receive interest, or “yield” over time, as a participation incentive. Those deposits remain in a pool used for issuing loans to other users for as long as the assets remain delegated.
Jet believes that borrowing and lending protocols are integral to the DeFi ecosystem. The decision to build on Solana was based on its unmatched transaction speed and low fees. The Solana integration will allow Jet to contribute and grow on-chain DeFi lending.
The project anticipates a gradual integration of broader interest and more efficient trading. In addition to lending, Jet will introduce interest rate products and secondary markets on Serum, facilitating ongoing, community-driven, lending product research and development.
Through these methods, Jet makes it easy for users to earn interest with their JET tokens.
Jet is planning to launch with a dedicated governance system that leverages their founding team’s unique and extensive experience in protocol governance. This governance-oriented approach aims to work with the community to set a clear precedent for how the Protocol will operate.
Jet will innovate on tested governance models from existing protocols while focusing on community ownership and engagement. The most important aspect of this approach is to build an inclusive
