Jet Protocol is an open source, non-custodial, borrowing and lending protocol on the Solana blockchain. The Jet Protocol allows users to deposit supported tokens to receive interests back to incentivize participation. The deposits exists in a pool that serves to users looking to take out a loan in supported tokens. A Jet user can borrow against over-collateralized debt positions and may incur debt up to governance mandated debt ratios.JET Token is a utility token having SPL standard (Solana blockchain) which provides the two following primary use cases:<ul><li>Governance voting rights to change and upgrade Jet Protocol;</li><li>Tiered usage benefits of Jet Protocol earned by locking up JET.</li></ul>

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There will be 900 winners of 4,000 JET in the “Standard” auction, and 100 winners of 4,000 JET in the "Uncapped" Auction. Both auctions will be conducted simultaneously.AscendEX users with&nbsp;trailing 5-day average ASD holdings ≥ 10,000 ASD&nbsp;or&nbsp;trailing 30-day trade volume ≥ 30,000 USDT&nbsp;will be eligible for participation in Standard Auction. Standard Auction allows participants to bid for the chance to win a tranche of 4,000 JET. 900 participants will be selected to win the auction with a total allocation of 3,600,000 JET.There are no ASD holdings or trade volume requirements for users to participate in the&nbsp;Uncapped Auction. Uncapped Auction allows participants to bid for the chance to win a tranche of 4,000 JET. 100 participants will win the uncapped auction with a total auction allocation of 400,000 JET.

Jet Protocol

Jet Protocol is a decentralized and permissionless borrowing and lending protocol built on the Solana blockchain.

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Jet Protocol JET

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