By Larry Wright
AscendEX is fascinated to declare listing Jet Protocol token under JET/USD pair. The trading platform plans to host two auctions to celebrate the move to list JET. The auctions will happen on 13 October. Market players expect the listing to promote JET’s value.
AscendEX will launch Jet Protocol as non-custodial, open-source lending and borrowing decorum on the Solana network. It introduces new capabilities of scalability, performance, and capital efficiency, solving some of the issues in the blockchain network.
Jet users can engage in a lending pool by depositing supported coins in return for interest as incentives on participation. The lending pool used to issue loans to other customers stores the deposits, as long as the crypto remains delegated.
Jet trusts that lending and borrowing protocols are vital to the decentralized finance network. Its Solana choice was due to the low fees and high transaction speed. With Solana integration, Jet can grow and contribute to on-chain decentralized finance lending.
The project awaits an integration of efficient trading and a broader market. Besides lending, Jet plans to introduce secondary markets and interest rate products on Serum, expediting continuing lending product development and research.
With that, Jet holders can earn interest using JET coins. Jet plans to launch with a committed governance system. That means leveraging the extensive protocol governance experience of its founding team. The governance-focused strategy targets cooperation with the community for a straightforward process for the protocol’s operation.
Jet will work on recognized governance models from protocols while concentrating on community engagement and ownership. This approach aims to create an inclusive alliance to design and implement the best lending products. That allows token holders to contribute to the platform’s future development, fulfilling Jet’s goal, increasing DeFi mainstream acceptance.
About AscendEX
AscendEX is a crypto-financial platform supporting multiple products, including margin, futures, and spot trading. It also houses blockchain projects like Ripple, Bitcoin, and Ethereum. Since its inception in 2018, the platform services more than 1 million institutional and retail customers globally.
About Jet Protocol
Jet Protocol is open-source and non-custodial lending and borrowing protocol on the Solana ecosystem. With Jet, Solana will achieve capital efficiency, scalability, and high performance. It allows users to engage in lending protocols by depositing tokens to the network to receive interest in deposits as participation incentives.