Frequently asked questions and answers about Jet Protcol
What is Jet Protocol?
Jet Protocol is a decentralized and permissionless borrowing and lending protocol built on top of the Solana blockchain.
What blockchain is Jet Protocol built on?
The Solana blockchain is the platform which Jet Protocol is built on.
Why is Jet Protocol built on Solana?
The top reasons are the excellent financial and community backing of the ecosystem, the high speed and throughput capabilities of the network and the lack of sharding allowing for greater composability.
Is Jet Protocol Permissionless?
Yes, Jet Protocol is totally permissionless to interact with. You do not need any human interaction to borrow or lend anywhere on the platform.
Is Jet Protocol Audited?
Jet Protocol has undergone extensive code review by paid white-hats kindly provided by the Solana Foundation and well as ongoing audits paid for by the Jet Protocol developers.
How do I borrow assets?
You can deposit collateral (any asset from the asset list below) and borrow against it (any asset from the asset list below). As long as your risk level stays healthy your debt position is safe. If your collateral value drops fast enough that you cannot deposit more to cover your position your collateral will be liquidated to cover your debt.
For more latest asset onboarding proposal, visit the forum page. And for all asset onboarding proposal records, visit the JetGovern application.
How do I lend my assets to get interest?
You deposit your assets to the lending pool or fixed rate fixed term marketplace and will earn interest from your deposits.
Are my deposited funds safe?
While Jet Protocol is built by industry veterans and world-class financial systems developers, Jet Protocol as well as Solana are still in beta and you should not deposit more funds than you would be willing to lose. There are no guarantees of safety regarding the programs Jet Protocol is built on.
When will you support [any] asset?
Jet Protocol will add new assets based on user demand and the selection criteria and decisions will ultimately be decided by the community and governance body of the protocol. Click here for more information on Governance.
Is Jet vulnerable to flash loan attacks?
No. Due to how margin account "health checks" are performed, Flash loans are not possible at this moment. Flash loans may potentially be enabled for usage in the future, while still performing health checks at the relevant times to ensure that an exploit is not possible.