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How to Create a Margin Account
A step-by-step guide for first-timers accessing the app on mainnet 👋
- 1.Create Solana walletTo use Jet Protocol, you need a Solana wallet, you can find a list of compatible wallets here. Jet Protocol is non-custodial and permissionless borrowing and lending protocol on Solana blockchain. You will interact directly with your wallet. You may create as many Margin Accounts associated with your wallet for your needs.
- 2.Get some SOL and move SOL to your walletJet Protocol is built on Solana blockchain, there is a small transaction fee and Account rent fee, you can find more details here on transaction fees, and here on rent fee. Solana transaction fees are only a fraction of a cent per transaction, but a minimum balance of 0.1 SOL is recommended. Your options for obtaining some SOL are:
Fund wallet by moving SOL to wallet through depositing or sending SOL to your wallet address.
- 1.Purchase SOL on a centralized exchange of your choice.
- 2.Purchase SOL through a fiat on-ramp service, which are integrated into some wallets.
- 3.Connect your wallet To begin using Jet Protocol please visit app.jetprotocol.io.Please make sure you are on the exact URL described above. Any variation of the URL is not affiliated with Jet Protocol and could be a phishing/spoofing attempt to steal your funds. Clicking the "Connect Wallet" or "Connect" button will allow you to select the type of wallet you're using. As mentioned in previous sections it is recommended you setup your wallet before proceeding further.
Once the you selected your wallet of choice, and approved the wallet connection. The application will prompt the risk modal. Understand and accept risks before entering Jet Protocol Mainnet.
"Understand and accept the risks" checkbox
- 4.Create Margin Account Now it’s time to create a margin account! Click the button to do so, and confirm the account creation in the modal that pops up. Then, approve the transactions in your wallet.
Acknowledgment of creating a margin account
Optional: Create more margin accounts If you find a need to keep track of different portfolio, do create a different Margin Account. Each Margin Account keeps its Risk Level. Read more information about the Risk Level of a margin account.
Optional: Switching between margin accounts
The actively selected margin account (underlined) will be the account operated on when using the action buttons like "deposit", "withdraw", "borrow", etc.
Toggle between Account 1 and Account 2
Now that you have a margin account, continue to explore how to lend and borrow with the following guides.
- 5.Upgrade Margin Account
To continue, you must upgrade the state of your margin account. You will be prompted to confirm the transaction in your wallet. Please note that if you are using a hardware wallet, it may require you to sign multiple times.
Now that you have a margin account created, you can deposit some collateral and use the Jet products with that collateral! Check out the products page to learn more about Jet Fixed Rate application, variable pooled lending, and leverage swaps.