Jet Protocol
Crypto Overview
Overview
Jet Protocol is a lending protocol built on the Solana blockchain that aims to provide decentralized lending and borrowing services. The JET token serves as the protocol's governance token, allowing holders to participate in decision-making regarding protocol parameters and development.
Purpose and Utility
The primary purpose of JET is to facilitate governance of the lending protocol, incentivize liquidity provision, and serve as a reward mechanism for protocol participants. Token holders can vote on protocol upgrades, risk parameters, and other governance decisions.
Business Model Analysis
The core business model revolves around interest-bearing lending and borrowing services, which is inherently problematic from an Islamic finance perspective as it involves riba (interest). The protocol generates revenue through lending fees and interest payments, which are fundamental aspects of its operation.
Development and Adoption
The protocol has maintained active development on the Solana blockchain, with regular updates to its smart contracts and user interface. However, the primary utility remains focused on lending and borrowing activities.
Token Distribution
The JET token has a defined distribution model with allocations for team members, early investors, and the community. While the distribution itself appears transparent, the token's primary utility remains tied to governing a lending platform.
Crypto Impact
To assign a comfort level investing in Jet Protocol from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Jet Protocol.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.