Open Sourcing the JetMargin Codebase
Advocating for Open Source Tools
Jet protocol started as a base-layer liquidity protocol to power on-chain lending and borrowing using Solana’s bleeding-edge tech, low transaction cost, speed, and scalability. With an interest rate model that offers tight spreads throughout the interest-rate curve, our V1 product delivered on the initial promise to provide maximized efficiency in lending and borrowing markets.
One of our most significant differentiators has been our constant advocating for and distribution of open-source tools. We believe in the power of open-source in reducing vulnerabilities and increasing workload efficiency across the spread, which is why we launched our V1 product with the codebase completely open-sourced, and have released additional tools and APIs to facilitate frictionless composing with Jet.
Building in a low-cost computing environment like Solana significantly expands the design space for DeFi’s possibilities and the Jet Engineering team is taking advantage of this to provide a capital-efficient product suite with optimal trading and yield options for users. Jet Protocol promises to continue pushing the envelope on debt instruments on-chain.
Introducing our first V2 product — JetMargin
As we forge ahead on the flight path set forth in the Jet Whitepaper, we are happy to introduce our first V2 product, JetMargin. Security is important to us so we have already undergone a thorough internal and external audit of the JetMargin codebase with comprehensive audit reports forthcoming. Our bug bounty program through ImmuneFi will also be updated to allow the community assist us in further securing our V2 programs.
JetMargin promises to radically increase the flexibility of our on-chain programs. It will be possible to onboard many more tokens for lending and borrowing, and as collateral. All these tokens will be cross-collateralized in users’ margin accounts, without a need for isolated pools. Our killer feature is a flexible approach to cross-protocol margining. The first use case is margin trading on Serum, with more integrations to follow soon.
Leading into the release of our highly anticipated Margin and Bonds programs in Jet V2 we are proud to share that we will be continuing the open-source tradition by sharing the Margin codebase on Devnet starting on May 17.
Integrations and composability are critical for the growth and health of the ecosystem and we wish to see as many quality projects as possible begin integrating the JetMargin codebase to make our work even more extensible for users of DeFi.