Blueprint Finance, the New York-based developer behind the Concrete Network, has strategically acquired Jet Protocol to broaden its decentralized finance (DeFi) offerings on the Solana blockchain. This acquisition brings a powerful new dimension to Blueprint’s product suite, positioning the company to solidify its role as a prominent provider of innovative on-chain financial tools.

With the acquisition’s completion, Blueprint Finance will fully integrate Jet Protocol’s assets, furthering its vision for an expansive, DeFi-driven capital market ecosystem. This deal enables Blueprint Finance to leverage Solana’s fast and scalable blockchain to reach a broader DeFi user base. Founded during the 2022 market volatility following FTX’s collapse, Blueprint’s initial product, the Concrete Protocol, emerged as a solution for secure on-chain debt management. Concrete offers yield to investors while safeguarding borrowers through automated liquidation protection mechanisms. The acquisition of Jet Protocol will enhance Blueprint’s reach, adding new features such as composable margin accounts, automated yield vaults, and diversified staking options.

Expanding DeFi offerings: Jet Protocol and Solana

Through Jet Protocol, Blueprint Finance inherits a sophisticated DeFi system designed for both variable and fixed-rate money markets, which will seamlessly integrate with Concrete. This newly acquired system will continue to operate on Solana and also Atlas, a blockchain solution focused on verifiable finance. The integration allows Blueprint Finance to cater to users across multiple ecosystems, fostering cross-chain DeFi interoperability and strengthening its suite with Jet’s novel features.

The acquisition reflects Blueprint’s ambition to lead in on-chain credit markets by creating a full-stack financial solution. Nic Roberts-Huntley, co-founder and CEO of Blueprint Finance, described this acquisition as a crucial step toward the company’s vision of a more accessible and robust on-chain capital market. Roberts-Huntley emphasized the potential for Solana’s DeFi ecosystem and Jet Protocol’s role in supporting new on-chain money markets. By bringing Jet’s assets under its wing, Blueprint Finance aims to establish a comprehensive suite of blockchain products to support lending, credit, and investment tools, opening new possibilities for institutional and individual investors alike.

Concrete Protocol: The foundation of on-chain credit

Concrete Protocol, the core product from Blueprint, emerged as a vital tool in DeFi, allowing users to borrow and lend with increased security through its risk protection engine. This system uses quantitative models to automate protection for borrowers, minimizing the risk of asset liquidation during volatile markets. Blueprint’s Probability Engine dynamically calculates the likelihood of collateral devaluation and automatically activates protections, serving as a stabilizing mechanism across money markets. The acquisition is anticipated to enhance this engine, using Jet’s flexible architecture to support cross-chain assets and liquidity needs.

Backed by notable investors, including Polychain Capital, Tribe Capital, and SALT, Blueprint Finance has a distinguished team with experience from institutions such as Morgan Stanley, Coinbase, and Galaxy Digital. The collective expertise positions Blueprint to lead a DeFi transformation, integrating traditional financial insights with the decentralized advantages of blockchain.

  Atlas Blockchain, Blueprint Finance, Coinbase, Concrete Network, Jet Protocol, Morgan Stanley, Paradigm, Polychain Capital, Solana, Solana Ventures, Tribe Capital