NEW YORK , Oct. 29, 2024 /PRNewswire/ — Blueprint Finance, core developer of Concrete Network, announced the acquisition of Jet Protocol, developer of the Solana decentralized finance product. Upon completion of the transaction, the combined company will operate under Blueprint Finance.
Blueprint Finance is a technology development company that builds a suite of decentralized finance products, including Concrete. Concrete is a network that powers on-chain debt and credit markets, protecting borrowers with institutional-grade liquidation protection mechanisms while delivering yield through automated quantitative strategies managed by smart contract logic.
With the acquisition of Jet Protocol, the company plans to expand beyond Solana to Atlas, a blockchain for verifiable finance. Jet has built a robust system that includes floating and fixed rate financial markets. Blueprint continues to develop unreleased products while building new features on top of them. This new protocol brings new mechanisms such as configurable margin accounts, automated yield vaults, and staking markets.
Blueprint will use the assets acquired from Concrete and Jet to establish a full-stack suite of complementary products across execution environments that will power the next generation of on-chain capital markets.
Nick Roberts-Huntley, co-founder and CEO of Blueprint Finance, said:
“This acquisition represents an important milestone in Blueprint’s efforts towards the development of on-chain capital markets. We are excited to launch our new Money Market Protocol.”
Blueprint’s team is led by an experienced team of quantitative developers, protocol engineers, and public/private market investors from Coinbase, Point72, Morgan Stanley, Galaxy Digital, Caxton, Polkadot, Eco, Spectral, and more.
About Blueprint Finance
Blueprint Finance is a technology development company that builds a suite of decentralized finance products. The company is backed by Polychain Capital, Hashed, Tribe Capital, Portal Ventures, and SALT.
About the Jet protocol
Jet Protocol was founded in 2021 with a focus on money market development in the Solana ecosystem. They were backed by Paradigm, Solana Ventures, Parafi, and Robot Ventures.
Please see the following link for more information:
Concrete Protocol Website: https://www.concrete.xyz/
Specific protocols Twitter: https://twitter.com/ConcreteXYZ
Blueprint Finance website: https://blueprintfinance.com/
SOURCE Blueprint Finance
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