Jet is a lending protocol built on the Solana blockchain with a focus on innovative lending products and cross-chain interest rate arbitrage. The protocols native token will innovate on battle tested governance models from existing protocols, skewing towards community ownership and engagement. The most important aspect of this governance-first approach is to build an inclusive community to research, design, and implement useful lending products. 

A Jet user can borrow against over-collateralized debt positions, and may incur debt up to governance mandated debt ratios. If the value of a users deposited collateral falls under the specified ratio, their position is able to be liquidated by external actors, such as traders or any users who can call the smart contract. In addition to lending, Jet will introduce interest rate product secondary markets on Serum and facilitate ongoing community-driven lending product research & development.

Jet Protocol's native Solana based SPL token is called JET. JET is a utility token which enables the two following primary uses:

• Governance voting rights to change and upgrade Jet Protocol
• Tiered usage benefits of Jet Protocol earned by locking up JET