Jet Protocol
A Solana lender backed by Paradigm and Three Arrows Capital
A borrowing and lending protocol on Solana, later built around fixed-term loans matched on an on-chain order book, with a JET governance token.
- Capital raised (announced)
- Estimated
Recorded announced backing; this is separate from cash received, customer deposits and money recovered.
Funding
| Round | Date | Announced | Investors |
|---|---|---|---|
| Seed | 2021 | ||
| Follow-on round | 2021 |
Announced is what was said at the time. Cash actually received is rarely disclosed and is not assumed to match.
People
| Name | Role | Period | Now | Last checked |
|---|---|---|---|---|
| Wil Barnes | — | Co-founder of Maspeth Tech, a Brooklyn company that makes AI software and hardware for manufacturing lines | Oct 2026 | |
| James Moreau | — | Not established | Oct 2026 |
Timeline
13 September 2021
The company said it had a 12-person team and that the code was unaudited, with audits planned for later releases.
1 August 2023
Pyth’s interview described Jet returning from development with a working order-book lending product. Borrowers and lenders could agree fixed rates and maturities, rather than having rates set by an algorithm.
22 December 2023
The notice said it had gone to the Jet forum and to investors the week before.
tl;dr - Jet Protocol is shutting down - take any and all funds off of app.jetprotocol.io and v1.jetprotocol.io bu February 1st, 2024. All borrows have been halted and there are still positions on the protocol which must be paid back and withdrawn.
1 February 2024
Another reminder that all funds should be withdrawn from Jet Protocol by February 1st, 2024.
1 May 2024
Users with funds left after this date were told they would lose access through the app.
This is the final reminder to remove funds from app.jetprotocol.io and v1.jetprotocol.io - the app will be completely shut down on May 1st - any users with funds remaining after that date will not be able to access the app. Thank you
How it ended
The company said Jet Protocol Holdings, LLC was shutting down. Borrowing was halted and users were told to repay open positions and withdraw everything, after which the app itself was to be switched off. No reason for the shutdown was given in the notices retrieved.
Still alive
Open spot
Jet Protocol is gone. Is your lending protocol still running?
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Sources
14 sources behind this page.
- 1Jet Protocol (JET) Price, Investors & Funding · ChainBroker · user-editable
- 2Jet Protocol Secures $6.8M in Seed Funding to Expand Its Ecosystem · Coinfomania, syndicated by CryptoNews.net · Nov 2021
- 3Jet Protocol launches its borrowing and lending alpha product on Solana devnet · CryptoNinjas · Sep 2021
- 4Maspeth Tech · Maspeth Tech
- 5Jet returns with fixed-rate lending · Pyth Network · Aug 2023
- 6Jet Protocol Raises $4.8 Million Seed Round · The JetDAO Newsletter (Jet Protocol, on Substack; retrieved after shutdown) · Jun 2021
- 7X account lookup: @JetProtocol · twitterapi.io (X data provider)
- 8X account lookup: @jrmoreau · twitterapi.io (X data provider)
- 9X account lookup: @wilbarnes · twitterapi.io (X data provider)
- 10X search: @JetProtocol posts mentioning @wilbarnes or @jrmoreau · twitterapi.io (X data provider)
Show 4 moreShow fewer
- 11X search: @JetProtocol posts, 15 February to 31 December 2024 · twitterapi.io (X data provider)
- 12X search: @JetProtocol posts, 15 November 2023 to 15 February 2024 · twitterapi.io (X data provider)
- 13X timeline lookup: @jrmoreau recent posts · twitterapi.io (X data provider)
- 14X timeline lookup: @wilbarnes recent posts · twitterapi.io (X data provider)
Every figure above is clickable and opens the sources behind it. Copies were stored when each source was read, so a citation still resolves after the page it came from is gone.