Jet Mainnet: Depositing & Borrowing
How to use the Jet Protocol App: A guide to Depositing and Borrowing
- Install your SPL Wallet: We recommend using Phantom wallet. Some other compatible wallets include Slope and Sollet.
- Fund your SPL wallet: To use the functions on Jet, you must have enough SOL to cover txn fees and a one time refundable fee to open the account. You can buy SOL from exchanges like FTX or swap SPL assets for SOL on Raydium. You may also fund your wallet with whatever asset you would like to deposit to earn interest on and borrow against.
- Currently, Jet’s offerings include USDC, SOL, BTC & ETH. More collateral types will be available after the proposal and voting process.
- After connecting your wallet to app.jetprotocol.io, choose which asset you would like to deposit. We will demonstrate with Solana’s native token, SOL.
- Enter the amount of SOL you want to deposit to the protocol
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- Then approve the transaction in your wallet
Note: If you are using Sollet on the Jet Protocol app, do not use the Auto-approve function. You will still need to manually approve the txn after this.
Once you’ve deposited your assets you can borrow against them. This is called your collateral. We will be demonstrating with USDC as a borrowed asset.
- First, enter the amount you’d like to borrow or use the slider to borrow up to but not exceeding the maximum borrow amount.
- Be sure to keep an eye on your c-ratio to avoid getting liquidated!
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- Then approve this transaction in your wallet again
Congrats! You’ve made your first deposit and borrow!
🎉
Last modified 1yr ago