What is Jet Protocol?
The Jet Protocol token, or JET, is the native utility token of the Jet Protocol. The latter is an on-chain lending platform powered by blockchain technologies. It runs on the Solana blockchain.
The core team behind the project claims that the Solana blockchain was chosen due to its efficiency, speed, and low fees.
JET has several use cases. First and foremost, it serves as a governance token. This means that each JET token holder has a vote when it comes to making decisions about the Jet Protocol. Secondly, holders who lock their JET coins receive exclusive benefits.
There is no available information regarding the max cap of JET. Because of this, it’s unclear whether the JET token will become scarce in the future, or if the JET price will grow due to this reason.
You can check the graph above for more information about the Jet Protocol price.
What are the Main Features of the Jet Protocol?
Jet Protocol is a lending protocol that’s completely decentralized, permissionless, non-custodial, and open-source. It allows users to borrow crypto by depositing collateral in the form of BTC, ETH, SOL, and USDC.
In addition, it offers a Bug Bounty program, which allows independent developers to submit bugs found on the protocol, and receive significant rewards in return. At the moment, the maximum amount paid out is $75,000.
If you're considering purchasing this token, don't forget to check the JET price and other statistics on the graph above.
Who Developed the Jet Protocol?
The Jet Protocol crypto project was co-founded by Will Barnes and James Moreau in April of 2021.
Will Barnes has successfully completed his bachelor of science studies at Clemson University. As of July 2022, he is the CEO of Jet Protocol.
Prior to co-founding Jet Protocol, James Moreau went to Suffolk University in Boston, where he obtained his bachelor’s degree in Communication and Public Relations.
