---

title: Asset Onboarding Application - $JET - Jet Protocol

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## Interested Party Profile

Party submitting application:
Website: 
Contact:
Submission Date:
If endorsed by Jet Community Member, list here:

## Application Profile
#### 1. What is your motivation for submitting this application?
- The purpose of this application is to provide Jet Community with details that led to Jet DAO approving $JET as a lending, borrowing and trading asset.

#### 2. What is your association to the proposed asset?
- No association

#### 3. What are the key benefits to the Jet Protocol for onboarding the asset?
- Including $JET to the already existing assets to trade will increase the range of possibilities to Jet Protocol users.

#### 4. What are the known limitations of the asset?
- Liquidity and price volatility risks.

## Project Profile

#### 1. Please provide a brief, high-level description of the asset's native ecosystem (project), including protocol's type (peer-to-peer/ peer-to-liquidity/ etc.).
- In its native ecosystem, $JET token can be used for getting governance voting power on JetDAO governance decisions.

#### 2. Who are the founding members? What is their current involvement with the project?
- Wil Barnes & James Moreau. Currently working on the protocol

#### 3. Please indicate the ICO date, initial price and valuation of the token and total capital raised (in USD and crypto terms).
- $JET did not have ICO. Instead, it has an IEO on Ascendex on Oct. 14 at 1 p.m. UTC.
- Initial Circulating Supply: 175,058,750 JET
- Offering Price: $ 0.04

#### 4. How much of the capital raised via the ICO was converted into FIAT (in terms of FIAT currency and amount of tokens)?
- No reported by the team

#### 5. What was the way of issuing and distributing the tokens? Were there pre-ICO investors?
Investors: MGNR, Sino Global Capital, CMS Holdings, ParaFi Capital, Robot Ventures, Defiance Capital, Kenetic Capital & Stablenode
- Token Distribution
- Seed investors: 15%
- Team and advisors: 25%
- Liquidity: 6%
- Discretionary fund: 28.53%
- Ecosystem fund: 25.47%

#### 6. What is the current token distribution (project team vs. investors vs. public)?
- Current token distribution can be seen in SolScan: [$JET](https://solscan.io/token/JET6zMJWkCN9tpRT2v2jfAmm5VnQFDpUBCyaKojmGtz)

#### 7. Are there any fees generated by the protocol? If yes, please provide details and amounts.
- **Solana Rent Fees**
- When you open your account on Jet, rent is charged by Solana which can be fully refunded in the future when you close all your account obligations on Jet. This is true for all protocols which allocate space per user on-chain.

- **Solana Transaction Fees**
- Currently there is no extra Jet originated fee added to your transactions. Only the minimal transaction fees on the Solana network are required to handle your transactions on Jet.. The Solana transaction fees are debited from your wallet when your transaction is processed.

- **Interest Accrual**
- For collateral and loan accounts, interest accrues and gets continuously compounded to your respective accounts.
- For a better understanding visit: [Fees & Liquidations](https://medium.com/jetprotocol/understanding-liquidations-and-fees-on-jet-protocol-747faa1168e2)

#### 8. Is the protocol audited? By what firms? Please provide link(s) to the audit documentation.
- Yes, by Ottersec. Visit https://docs.jetprotocol.io/jet-protocol/protocol/audit-reports for the documentation.

#### 9. Is the protocol open source? If yes, please provide links to the repository.
- Yes, visit https://jet-lab.github.io/jet-v2/

#### 10. Other relevant project data or comments:
- N/A

## Asset Profile

#### 1. Asset name:
- $JET

#### 2. Asset type (native/ wrapped):
- Native

#### 3. One-sentence description of the asset:
- Governance token for JetDAO.

#### 4. What's the purpose of the asset within its native ecosystem?
- Trading
- Governance voting power for JetDAO

#### 5. Does the asset have any use outside of its native ecosystem (integrated protocols)?
- $JET can be traded on Ascendex, and several DEX as Orca & Jupiter

#### 6. Please provide all Smart Contract address. If the project is open source, detail how the Smart Contracts are implemented.
- Token address JET6zMJWkCN9tpRT2v2jfAmm5VnQFDpUBCyaKojmGtzicon copy
- Authority AEgVGZorfAt2yG3WkWDjDDqBPYZxU6hr2KoNynXWaqDh
- Github https://jet-lab.github.io/jet-v2/

## Asset Liquidity

#### 1. What exchange(s) support the asset?
- Ascendex

#### 2. Does the asset have liquidity on Serum? What is the liquidity depth (resting orders)?
- N/A

#### 3. Please provide 7-day asset trading history (daily aggregated trading volumes for trading pair of asset with USDC).
-

#### 4. Which oracles monitor the asset? How many feeds are available?
- Pyth Oracle.

#### 5. How often does the asset drop significantly in price? Please provide a link to the price history.
- See price volatility: [Coingecko.](https://www.coingecko.com/en/coins/jet)

#### 6. *For stablecoins only*: Has the asset ever lost the peg? If yes, for what reason?
- N/A
#### 7. *For algorithmic stablecoins only*: Please provide details on the risks associated with the design.
- N/A
#### 8. *For wrapped assets only*: Which bridges are used? Are they custodial or non-custodial? Are they audited?
- N/A
#### 9. What amount of asset's liquidity exists in the integrated protocols (if applicable)?
-

#### 10. List any parties interested in taking part in liquidations for the proposed asset type.
- N/A

## Key Mechanics

#### 1. How many active addresses/ users currently hold the asset?
- 2.192 Wallets 13/04

#### 2. Please provide a brief overview of the tokenomics.
- $JET tokenomics can bee seen in this [Medium Post.](https://medium.com/jetprotocol/jet-tokenomics-lockup-and-our-long-term-vision-430a1fbe119f)

#### 3. Is the asset supply expected to increase or decrease over time? Is there a token burn mechanism? Is the project able to mint more tokens in the future?
- $JET counts with a fixed supply. There is no burning mechanism, and the project isn't able to mint more tokens.

#### 4. Please explain the staking mechanism (if any).
- Staking mechanism for $JET works as follow: Users go to gover.jetassociation.org , stake their tokens and get voting power. For unstaking, users must face a 29.5 unbonding period since the day they unstake. To understand more read this [Medium Post.](https://medium.com/jetprotocol/jet-staking-and-the-jetdrop-two-more-steps-towards-jet-governance-84d8de26be4a)

#### 5. Please explain the slashing mechanism (if any).
. N/A

#### 6. Are there tokens on vesting schedule? If yes, what is that schedule and related vesture limitations?
- Most JET tokens are locked up for a long time (3 years), which leads to well-aligned incentives for everyone involved: the team, investors, community of users, and governance participants. Additionally, a large portion of the unlocked tokens are at the disposal of the DAO, and will require governance input on how they are allocated by stakeholders and community members.

#### 7. Are any tokens allocated for specific purposes or issuance schedules (e.g. liquidity mining)?
- The fixed total supply of JET tokens is 1,700,000,000.
- Initial Circulating Supply: 156,257,200 JET.
- 25% of tokens to team & advisors, 0% unlocked at the 12 month cliff, and the rest vesting linearly over 24 months.
- 15% of tokens to seed investors, 0% unlocked following a 12 month cliff, with the rest vesting linearly over 24 months.
- 10% of tokens to follow-on investors, 0% unlocked following a 12 month cliff, with the rest vesting linearly over 24 months.
- 3.06% of tokens to Ascendex IEO + trading capital for market maker, 100% unlocked at TGE.
- 25.47% of tokens are under control of the DAO, 3% unlocked at TGE and the rest vesting linearly for 24 months. The rationale for lower % TGE unlock here is to prevent governance attack of DAO tokens.
- 21.47% of tokens are reserved for direct project contributors, the “dev fund”, 25% unlocked at TGE and the rest vesting linearly for 24 months.

## Legal Profile .

#### 1. Is the project or the asset owned by any incorporated organization?
- Yes, see: [SEC Entity details.](https://www.sec.gov/edgar/browse/?CIK=1876707)

#### 2. In which jurisdictions was the token issued?
- Delaware, US. See: [State of Dealware Entity Details.](https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch.aspx)

#### 3. Was the token issued as part of regulatory process (e.g. securities offering)?
- No. See [Notice of Excempt Offering of Securities.](https://www.sec.gov/edgar/browse/?CIK=1876707)

#### 4. Was the token issued as part of fundraising process?
- Yes, see more about fundraising: [Here.](https://medium.com/jetprotocol/jet-tokenomics-lockup-and-our-long-term-vision-430a1fbe119f)

#### 5. Has the project or the asset obtained any legal opinions on the regulatory standing of the token? If yes, please provide links to the relevant documentation.
- No opinion founded

#### 6. Has the project or the asset had any legal interactions? If so, describe and provide documentation.
- No that I'm aware

## Links

#### Link to project’s white paper:
* Jet Protocol [Litepaper]([https:/](https://www.jetprotocol.io/litepaper)/)

#### Link(s) to active communities related to the project:
*

#### Link(s) to project’s documentation portal/ source code for the system(s) that interact with the proposed asset:
*

#### Link(s) to audits - both procedural and Smart Contracts:
*

#### Link(s) to legal opinions:
*

#### Link(s) to other legal material:
*

#### Other relevant links:
*

#### List all relevant Solana addresses here:
*

## Marketing / Campaign Material
If you have additional marketing material, recorded discussions, or collateral onboarding campaign material, link here:
*