KUALA LUMPUR, Oct 11 (Bernama) -- AscendEX is thrilled to announce the listing of the Jet Protocol token (JET) under the trading pair JET/USDT on Oct 14.
To celebrate the listing, AscendEX will host two separate auctions that will take place simultaneously on Oct 13 between 1pm and 2pm UTC, according to a statement.
Jet Protocol will be launched as an open-source, non-custodial, borrowing and lending protocol on the Solana Blockchain, engineering new possibilities for capital efficiency, performance, and scalability.
Jet allows users to participate in lending pools where they deposit supported tokens to receive interest, or ‘yield’ over time, as a participation incentive. Those deposits remain in a pool used for issuing loans to other users for as long as the assets remain delegated.
Jet believes that borrowing and lending protocols are integral to the DeFi ecosystem. The decision to build on Solana was based on its unmatched transaction speed and low fees. The Solana integration will allow Jet to contribute and grow on-chain DeFi lending.
The project anticipates a gradual integration of broader interest and more efficient trading. In addition to lending, Jet will introduce interest rate products and secondary markets on Serum, facilitating ongoing, community-driven, lending product research and development. Through these methods, Jet makes it easy for users to earn interest with their JET tokens.
AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 200 blockchain projects such as bitcoin, ether, and ripple.
To learn more about how AscendEX leverages best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, visit www.AscendEX.com.
-- BERNAMA
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