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JET

Jet Protocol  

#JET

JET Price:
$0.027
Volume:
$63.0 K
All Time High:
$0.79
Market Cap:
$4.1 M


Circulating Supply:
156,257,200
Exchanges:
3
Total Supply:
1,700,000,000
Markets:
3
Max Supply:
Pairs:
2



  JET PRICE


The price of #JET today is $0.027 USD.

The lowest JET price for this period was $0, the highest was $0.027, and the exact current price of one JET crypto coin is $0.02651.

The all-time high JET coin price was $0.79.

Use our custom price calculator to see the hypothetical price of JET with market cap of SOL or other crypto coins.


  JET OVERVIEW


The code for Jet Protocol crypto currency is #JET.

Jet Protocol is 1.1 years old.


  JET MARKET CAP


The current market capitalization for Jet Protocol is $4,143,028.

Jet Protocol is ranking downwards to #616 out of all coins, by market cap (and other factors).


  JET VOLUME


There is a modest volume of trading today on #JET.

Today's 24-hour trading volume across all exchanges for Jet Protocol is $62,951.


  JET SUPPLY


The circulating supply of JET is 156,257,200 coins, which is 9% of the total coin supply.


  JET EXCHANGES


JET has limited pairings with other cryptocurrencies, but has at least 2 pairings and is listed on at least 3 crypto exchanges.


  JET RELATED


Note that there are multiple coins that share the code #JET, and you can view them on our JET disambiguation page.


  JET RESOURCES


Websitewww.jetprotocol.io
Whitepaperjetprotocol.gitbook.io/jet-protocol/whitepaper
Twitterjetprotocol
Redditr/jetprotocol
Telegramjetprotocol
DiscordBsF3cEbdV9
Mediumjetprotocol


  JET DEVELOPER NEWS



Introducing The Jet Association and The Collateral Onboarding Proposal Framework

Jet is pleased to welcome more flight routes to the tarmac after a successful 2021. After several months of Jet Protocol V1 working well with the initial set of collateral types, it’s time to begin the process of ushering in new collateral types to be (potentially) added as via governance. To support the development of Jet Protocol’s on-chain governance we are excited to announce the The Jet Association. The Jet Association is a non-profit entity in Switzerland. Expect a more in-depth post about the function and philosophy of The Jet Association soon! An important first flight for the Jet DAO is the Collateral Onboarding Guide (“The Guide”). This Guide has been authored by an early Jet DAO contributor who goes by the name of Dante. The Guide sets out a framework for assessing the risk of potential collateral types (new tokens) to be added to the protocol in order to onboard new tokens effectively. The Jet DAO is a community, and that community will need time and a process to discuss new collateral types. The Guide is a first version of this process, and will include discussions in the Jet Forum, polling of the community, and JET token-based voting through the Jet Governance Portal. This collateral onboarding framework ensures that only objectively and appropriate tokens are used for collateral within the Jet Protocol. A template for the application to onboard new collateral is available for submitting a new collateral ...




Jet Staking and the #JETdrop— Two More Steps Towards Jet Governance

Jet wasn’t founded to operate as a basic domestic carrier, it was founded to push the envelope, run the engines hot, build more formidable aircraft and blaze new flight paths in DeFi. In this post we will cover how Jet’s upcoming governance and tokenomics developments will affect you, give you the tools you need to raise from the ranks of passenger to pilot and participate in the long-term vision of Jet Protocol well beyond our maiden voyage. Jet Core has refueled over the holidays for some big updates: Our first governance proposals,, Signal voting,, The Jet Airdrop, and, The launch of Jet Staking, — #JETdrop Incoming — What’s Next? - Upon the release of the JetGovern app, users will be able to claim their airdrop, examine and vote on proposals, and stake JET tokens. All airdropped JET tokens will be automatically staked within the staking/governance module by default as a nudge to users to keep their newly dropped JET in the staking system preparing for the upcoming signal vote for collateral onboarding additions to Jet Protocol. To support voting and reward distribution mechanics, all staked JET are subject to an unbonding period of 29.5 days. Should a JET holder wish to move their tokens once claimed and staked, a user must initiate unbonding of their staked tokens in order to be able to remove them from the module. During the unbonding period, staked JET will remain held in the insurance fund (desc...




Jet’s 2021 in Review

Now Boarding - As 2021 winds down and we as a team take some time to rest from an incredible maiden flight, we want to reflect on what the year has brought us and what to look forward to. When the Jet’s journey began changing from a hackathon project in late 2020 to an open-source, secure, and polished protocol in 2021, we focused on rapidly scaling up our engineering team from the start. Jet was formed to build better debt capital markets products. At a macro level, lending drives global economic growth. At a micro level, crypto-native institutions now rival or surpass many of their tradfi counterparts. The capital markets needs of crypto-native institutions has become significantly more nuanced, and the Jet product suite is built to offer these institutions high-flying market oriented products. Wil, our CEO and co-founder, made the decision early on to develop Jet as open source software, and also to build all our code from scratch without forking existing reference implementations. The Jet codebase utilized the Anchor Framework from the very start. Building good technology takes sustained time and effort. And developer engagement has been strong, we’ve begun to see other devs use and reference the code patterns we created for our alpha product, and we continue to push the envelope on how we use the runtime to our advantage. Since April, Jet has grown from 2 co-founders to 22 total employees, along with several key advi...




Jet Protocol Upgrade Bug Patch Disclosure

On Dec 21st, we performed an ad hoc upgrade to our mainnet program that introduced a critical vulnerability that was quickly discovered and fixed within 24 hours. There was no attempt to exploit it and no loss of funds. The bug was identified by a user on Discord (jayne) who had been reviewing the program code, who privately messaged one of our core devs with details about the issue. After we acknowledged the problem, the mainnet program was redeployed with the problematic feature disabled. The feature in question was to provide a mechanism for closing accounts, so that users could recover their rent. This introduced a bug where after closing an account, other positions a user had could have been ignored by the program, potentially allowing a user to erase their loan balance without having to actually pay it. The user who identified and disclosed the bug was instructed to submit their finding through our bug bounty program and was awarded $75,000 via Immunefi. To prevent this from happening in the future, we’ve improved our mainnet deployment processes. We now deploy all code changes to our devnet instance first, and undergo a two week “baking” period before the changes can be deployed to mainnet. During this period, we will invite whitehats to review the code as part of our Immunefi bug bounty program. We are engaging another auditing firm to do additional deep code review for upcoming releases into the new year and ...




Announcing The First $JET Airdrop

TL;DR - Snapshot has been already taken, Airdrop coming in soon, Governance platform coming soon, You must claim airdrop within 90 days of platform launch, Tokens will be automatically staked, There will be staking rewards, You can also stake tokens that you have bought, You will not be contacted by the team: beware of scammers, Jet Protocol launched in April 2021 as an idea for borrowing and lending that could be more capital efficient — we have been working to deliver innovative borrowing and lending products every day since then. Since takeoff, we always believed that good governance was going to be our primary differentiator in the Solana ecosystem and beyond, giving us an edge in how the protocol is formed and maintained. We’ve had the benefit of seeing the evolution of DAOs in action over the past few years, with success stories like MakerDAO lighting a path towards meaningful decentralization. With lessons learned through observation and participation — this is Jet Protocol’s first step towards activating our community and building a governance framework that we hope will grow and evolve with the tech. Since creating the JET token around the same time as our mainnet launch in October, Jet Protocol’s usage and utility have been evolving in parallel with JET’s position on the open market. We’ve seen TVL approach upwards of $60 million with absolutely zero liquidity mining incentives or othe...




Understanding Liquidations and Fees on Jet Protocol

Recently we’ve seen a lot of questions and interest in how Jet Protocol handles parameters in the system such as liquidations and fees. Especially during times of high market volatility, it’s important for users to know where their financial positions on Jet stand at any given moment, so we want to clarify a few important details to consider when lending and borrowing on Jet. Thank you to our community members in the forum, discord and telegram group as well for asking these great questions and we hope they help! You can find these individual articles in our documentation as well here and here.On Liquidations: — What is a C-ratio?. — Jet’s C-ratio is the collateral-to-loan ratio. This C-ratio can be calculated using the following formula: C-ratio = collateral value / borrowed value A good way to think about the C-ratio is when you deposit $200 worth of Bitcoin as collateral, and then borrow $100 worth of USDC, the current C-ratio would be 200%. — What is the liquidation threshold?. — Currently the liquidation threshold on Jet Protocol is 125%. A portion of your collateral will be liquidated to maintain a healthy C-ratio when it drops below 125%. When you try to process a borrow or withdraw transaction that would bring your current c-ratio below 150%, the co-pilot system message will alert you that this is an unhealthy C-ratio. — How can I avoid liquidation?. — When the market is ...




Jet Raises $6.8 Million from follow-on investors including Paradigm, Reciprocal, and Solana Capital

Jet Announces $6.8 Million Follow-on Round with Paradigm, Reciprocal Ventures, Solana Ventures and more - — Adding Jet Fuel To Boost Our Product Roadmap - “Lending & borrowing are core primitives of DeFi infrastructure. Jet has one of the strongest and most experienced teams in crypto, and we’re incredibly excited to help them build out the Solana ecosystem.” — Georgios Konstantopoulos, Research Partner at Paradigm Earlier this year we were lucky enough to have an amazing cast of VC’s and angels join our seed round, which helped us spend much needed time and resources hiring world-class talent to build the Jet Protocol that you see now on mainnet today. Since then, we’ve identified additional destinations we want to set course to. We’re not just doing cross-margin borrowing and lending better, but have brought on on additional strategic investors to help usher more of Jet’s protocol, governance and extensible product ideas into the real world.Decentralized borrowing and lending is a core component of DeFi, and Jet Protocol has been built to take advantage of the speed and throughput offered by Solana. I’m glad to see teams of this caliber with a strong commitment to open-source development continuing to chose Solana. — Raj Gokal, COO at Solana Labs As we move into this next exciting leg of our journey post mainnet and JET token launch, we’re thrilled to partner with our new investor...




JET Tokenomics, Lockup and Our Long-Term Vision

This has been the most significant week of announcements and technical milestones since Jet Protocol’s first test flight back in April 2021.This week has seen: The successful take-off of our mainnet on October 7, The announcement of our JET token auction/listing partnership with Ascendex on October 8, The closing of our follow-on round of funding, Follow-on investors and IEO participants are buying at the same price, With so much happening, it’s easy to gloss over the details and importance of these events. We’ve been listening to our community voice their interest in the tokenomics and reasoning behind our decision to structure the JET distribution as we did, and this blog post will go over just that here. — Token Lockup and Vesting Details - TL;DR — Most JET tokens are locked up for a long time (3 years), which leads to well-aligned incentives for everyone involved: the team, investors, community of users, and governance participants. Additionally, a large portion of the unlocked tokens are at the disposal of the DAO, and will require governance input on how they are allocated by stakeholders and community members.Visualized JET token emissions The fixed total supply of JET tokens is 1,700,000,000., Initial Circulating Supply: 156,257,200 JET., 25% of tokens to team & advisors, 0% unlocked at the 12 month cliff, and the rest vesting linearly over 24 months., 15% of tokens to seed investors, 0%...




Jet Protocol Is Now Live On Mainnet!

On Wednesday October, 6, 2021, Jet Protocol, founded by Wil Barnes (CEO) and James Moreau (COO), launched their Alpha product on mainnet, offering an improved cross-margining borrowing & lending experience to the Solana ecosystem.The Jet Protocol dashboard, a.k.a. “Cockpit” Jet Protocol was inspired by the rising tides of DeFi Summer in 2020 and the proven models of borrowing and lending markets. These markets were shown to be integral base-layers to any other financial products on blockchains such as Ethereum and other EVM chains. When the founders assessed the market in early 2021, they saw several projects taking up the challenge, but felt most were missing the mark. Drawing from prior experience at Maker, MetaMask, and ConsenSys, they started implementing what they believe to be the modern lending DAO. The founding team fastened their seatbelts and prepared for a long-haul flight of researching, hiring, experimenting, and developing. Making use of the tooling in front of them, Jet implemented their whole codebase from the tarmac up, leveraging Anchor to give flight to several innovative new code patterns. Jet re-engineers what’s possible in terms of capital efficiency, performance and scalability on Solana, rather than porting over 1:1 versions of EVM based models. Jet Protocol seeks to differentiate itself through thoughtful and careful design decisions. Decisions include how liquidity is onboarded and incenti...




In-Flight Reading — The Jet Protocol Whitepaper

In-Flight Reading — The Jet Protocol Whitepaper - It’s wild to think that it’s been since April that we took our first test-flight forming Jet Protocol and making a formalized effort to build out the borrowing and lending space within Solana. Since forming the project it seems like we’ve managed to cruise through milestone after milestone: We raised seed capital from an all-star group of investors, Hired a team of 10+ people and growing, Inspired by the Oyster Lending protocol, we completely re-engineered the concept using Anchor and focused on optimizing for Solana, We began work on decentralized governance in our new forum, But is something missing? Indeed! The white paper. As Jet Protocol continues to gain altitude, we remain committed to being a user-driven protocol with a focus on the product making sure it moves towards being supremely useful for everyone from your average DeFi Degen to an institutional trader. We want to share our white paper with the community to give a more holistic view from a high altitude of what we’re trying to accomplish as well as our core motivations starting down this path. While we have details that are still in flux that could change regarding everything from the token, to the protocol, this document should give you a better understanding of where we’re coming from. This is just the first version of more to come — look for updates on tokenomics, technical roadmap...




  JET NEWS


Solana-built DeFi app Jet Protocol transitions into DAO to enable on-cha...

    Jet Protocol, a Solana-based non-custodial liquidity app offering lending products for the DeFi ecosystem, announced today it has taken the first step in building a truly decentralized and censorship-resistant protocol in order to provide infrastructure to access on-chain financial debt instruments. Jet’s design takes advantage of Solana’s speed and low fees, allowing users to borrow against over-collateralized debt positions whilst honing the value of flexible, capital-efficient margins. DAO: JetGovern In efforts to provide an on-chain governance system representative of not only the Jet user base but also the broader DeFi community, Jet has released JetGovern — a new mechanism to govern the platform in an effective and decentralized manner. “At Jet, a well-composed and strategically maintained system of governance is necessary in order to make decisions on everything – from run-of-the-mill functioning of the protocol, adjustment to policies of the JET token, adding new collateral types, dealing with a crisis, or deciding the direction of development and governance itself. Leveraging experience with governance frameworks from first-mover protocols like MakerDAO, we are constructing a truly battle-tested governance ecosystem with all the checks and balances in place to sustain growth and development.” - Jet Protocol CEO, Wil Barnes Incorporating both on-chain and off-chain governance structures, JetGovern ensures a trustless, secure, a... read More



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