Jarvis Network AMA Recap (16th July, 2020)
🔷 Jarvis Network AMA Recap🔷
We organized AMA successfully with Jarvis Network team on 16th of July, 2020 in our telegram community group .
Thank you to Pacal Tallarida & Vsevolod Potorocha for answering all the questions & for choosing Crypto Bharat for AMA. We look forward to collaborating more with you in the future.
Questions were submitted in our announcement tweet here — https://twitter.com/Crypto_Bharat/status/1283256615651573760/ and questions were also asked on telegram by our community members.
Following is the transcript/recap of the AMA.
√π:
Hello guys. We have very honorable Guests tonight here with us from Jarvis.network . I’d like to welcome @Pascal_Tallarida Pascal (Product-driven CEO) @Vsevolod_Potorocha Vsevolod (community manager)to Our Crypto Bharat community .
Pascal Tallarida | jarvis.network:
Hello
Vsevolod | jarvis.network:
Hello everyone!
√π:
@Pascal_Tallarida @Vsevolod_Potorocha please introduce yourself to our Crypto Bharat community members
Pascal Tallarida | jarvis.network:
Sure :)
Hey guys, my name is Pascal and I am a French senior Forex trader and entrepreneur. I am trading for the past 14 years now and for the past 10 years I have been developing companies in the retail trading industry (prop trading firm, trading arcade and trading school), which allowed me to become known in France, recognized by my peer, but most importantly it allowed me to build a strong community of +34k French speaking traders.
This is why I was particularly interested in this community when I saw you were trading everything :) I am pretty sure you will love what we do :)
√π:
🚀
√groot:
Very impressive!
Vsevolod | jarvis.network:
I am Vsevolod the Community Manager at Jarvis Netwrok. I am responcible for delivering all the new content and updates to our community as well as explaining how DeFi works and help if its needed. I started working with Pascal at his other firm, but shorty after I saw Jarvis, I just could not pass by:)
√π:
Thanks for introducing yourself to our community members guys . So let’s begin with Admin QnA round
Pascal Tallarida | jarvis.network:
yep :)
great
√π:
So @Pascal_Tallarida can you please tell us about what JRT stands for?
Pascal Tallarida | jarvis.network:
Yep, Jarvis Reward Token, because apart from our tokeneconomics designed to capture the value of the Jarvis network, we wanted to distribute the tokens as a reward for bringing value to the ecosystem.
Therefore, apart from distributing the token to the one who supported us financially, there is a 100M JRT funds which will distirbute the tokens to users, liquidity providers, etc. to incentives and reward the value they bring, hence the name Reward token :)
and since the token can be used to be staked and collect fee as ex, it is like a double reward :)
over :)
√π:
That’s impressive
Moving on @Pascal_Tallarida
Please let us know what is the utility of JRT?
Pascal Tallarida | jarvis.network:
Sure thing
As I said before, JRT is designed to capture the value of the Network, so the bigger Jarvis becomes the more value JRT holders capture. How? we have 3 mechanism:
1. Staking in the DAO for governance: JRT holders lock their token in the DAO for a certain time to gain a voting power; this power helps them to vote on, as example, on how to allocate the fees that the DAO collect; so in theory JRt holders could vote that 50% of the fees can be withdrawn by JRT holders.
2. Staking in validators and relayers: Jarvis has both on-chain and off-chain components, and to secure and make trustless the off-chain one, we need validators and relayers; to align their incentives, they need to stake JRT, in such ways that all the JRT staked > 2x the value in $ locked in the protocols. So if there is 2M locked in Jarvis, they need to stake for $4M. If there are 20 Validators = $500k JRT each.
they earn fees as well, so the bigger Jarvis becomes the more Validator have to stake
3. Buy back and burn: if a dApp is built on the top of our protocols, they can add their own custom fee (some kind of affiliation) and part of these fees are used to buy back JRT and burn JRT
over :)
This is my favorite question :)
so I saw that here there are few Forex traders, so I guess you have an account with a broker
what about becoming broker yourself ?
Junkie Virus:
really! , can we do that?
Pascal Tallarida | jarvis.network:
this is how you can become a LP:
1. You need to stake JRT to have a skin in the game
2. You need to run a Desk Node in a highly secure and highly available server (we recommend Azure)
3. You open an account with a broker which provides FIX API, and you deposit funds there (the more the better)
4. You deposit USDC, USDT or DAI in the liquidity pool
5. You are ready to go :)
What will happen? When a user wants to trade, they can choose your liquidity pool, and everytime they open a trade on EURUSD > you decide in your desk node if you want to hedge it (you take the same order in your broker), to do not hedge it (you are the counterpart, you lose if they win, and vice versa), or more complex business logic.
you will need to always monitor your collateral level and margin level: if the current open position, netted, is superior than 80% of your deposit in stablecoins > you are bankrupt
all the trade close, and you lose the 20% left
over :)
yes :)
the good thing is that LP in JArvis can be market neutral
so no additional risks are taken
Junkie Virus:
that’s really good thing
Pascal Tallarida | jarvis.network:
yes :)
Jarvis protocols do not require KYC since there is no custody of user funds, and we do not deal with fiat.
Jarvis interfaces are different; they are liable centralized software which can require KYC or geo-block some users. Where the user interfaces are incorporated, we do not need KYC since we do not deal with fiat, but only crypto, yet, we should accept users from some countries, and after a certain amount of euros / dollar a KYC could be asked.
But since anyone can build their own UI to interact with the protocols, no KYC is required for them.
√π:
Great 🚀
What are the advantages of the Margin and Synthetic protocols over others trading protocols? And why big Exchanges like Binance should consider you as future option?
https://twitter.com/ketuart02/status/1283282451058454528?s=19
Pascal Tallarida | jarvis.network:
Margin protocol is an off-chain yet trustless protocol, to open long and short position on various market, with leverage.
So you use it to short 20x BTC or long 100x SP500 with scalability. You deposit stablecoin and you open position.
Synthetic protocol is an on-chain protocol to exchange stablecoin for synthetic assets and to exchange synthetic assets between them.
You use it if you want to exchange your USDT for jEUR or jAAPL as example.
Binance should consider us for few reasons:
1. Margin protocol is blockchain agnostic, since 95% of the logic happen off-chain; it means that we can use Ethereum, Binance Chain, Cosmos etc. It is a HUGE undervalued argument that a lot of JRt holders stlil do not realize and it is of course in our plan to develop Jarvis elsewhere. Being on Binance will speed up our incentives to build it on Binance Chain
2. Margin protocol allows LP to plug to the API of their broker to provide a market access, but also to their EXCHANGE; so a LP could connect to Binance API to provide access to the Binance price feed :)
Hence brining more volume to binance :)
over :)
Junkie Virus:
Wow
Pascal Tallarida | jarvis.network:
Liquidity: LP provider in both Margin protocol and Synthetic protocol will earn one the highest APY in the entire DeFi space: USDC, DAI or USDT in the pools are actually lent on Aave (so LP earn the Aave %) + the yield earned by the users deposit are also redirected to the LP (so thei will earn % on their deposit + the deposit of the users) + they will earn trading fee.
And since it is a liquidity pool, it does not suffer from liquidity issue (the liquidity pool back all the exchange and trades, so you can trade huge amount without slippage)
Transparency: the off-chain component are using IPFS to publish data in a transparent way
Decentralization: we are not seeking to be decentralized from day one, as the end-user do not care about it; yet, decentralizing the governance is a priority, hence the DAO
Price manipulation: Validators and Relayers have to reach a consensus to avoid price manipulation, and if the consensus is not reached, a dispute is created and the JRT holders have to tell what the good price is.
Transaction delay: Margin protocol is off-chain so there is no delay, and for Synthetic protoocl… we cannot do anything.
over
√π:
In the meanwhile guys you can join the Jarvis discord server.
Invite Link
Thanks for answering Pascal moving on to next question.
I saw 2 fascinating features not seen before in any crypto project which are
Margineum
Synthereum
Can you explain more about these 2 features and what they add to Jarvis project
https://twitter.com/rohitku45891778/status/1283268650825211907?s=19
Pascal Tallarida | jarvis.network:
Margineum allows you to open long and short leveraged position collateralized by stablecoins on any market. Go long or short on BTCUSD with 20x leverage.
Synthereum allows you to mint, redeem, and exchange synthetic assets, on-chain :)
√π:
Thanks , guys you can follow Jarvis.network twitter handle also . Link
Pascal Tallarida | jarvis.network:
thanks :)
Yes it’s true.
Actually at the beginning we were only focused on DAI DAI DAI. Because it was the best decentralized stablecoin, But now Dai is backed by wBTC and USDC, and suffered from major issues this year; Maker also became a huge and slow institution, and DAI has hard time keeping its peg.
so we are actually now adopting USDC and USDT (since Asia is one of our main target, USDT is a must have)
√π:
Guys you can also follow Jarvis.network on
Medium — Link and
YouTube — Link 🚀
Thanks for answering Pascal let’s have some questions from community , shall we ! Are you guys ready !!!
Pascal Tallarida | jarvis.network:
thanks
Vsevolod | jarvis.network:
Always ready!
( Group was unmuted to accept questions from the community. Our community members submitted 600+ questions for Jarvis Network Team. Wow! )
√π:
Ok Pascal I’m going to open the community. You can select questions and answer 😊
Hitman:
Could Jarvis be considered a type of DEX exchange?@Pascal_Tallarida @MintingGod
@Vsevolod_Potorocha
Vsevolod | jarvis.network:
Jarvis exchange will be a DEX (powered by Paraswap) where you can mint/exchange synthetic assets as well as exchange any ERC20 with the best price thanks to the power of Paraswap.
Ijinlelomo:
Referral is the best way to get more users, do you have such programmes? If yes, what’s the referral bonus?
Vsevolod | jarvis.network:
When we launch our first products we of course will create referral programs, as well as market them in the local communities.
Rimjhim:
I am already using other Trading platforms
Why should I Move to Jarvis Platform?
What Main benefits will I get on the Jarvis platform?
Pascal Tallarida | jarvis.network:
Good question :)
If you trade using Jarvis market (our UI to interact with the Margin protocol) you won’t need to create an account: simply deposit your stablecoins and start trader. You have finished your trades? just withdraw your funds in stablecoin and lend them in Aave or Compound or elsewere.
If you hold ETH, wBTC, BAT, or even JRT, we will integrate Aave as ex, so you can borrow Dai from your ETH holdings, so you can trade on Jarvis without selling your assets :)
Jarvis gives you FREEDOM + transparency; all your trades are recorded on IPFS as ex so you can share them easily and you do not need to have an audited track record since it is already audited by our Validators :)
+ Jarvis has lower fees and spread :)
Finally, another good point: you can deposit synthetic assets to trade; so if you have jAAPL, jBTC, jEUR or even FREEDOM
Ashwini:
There are lots of Project coming these days & The Main problem with many project is Adoption, Why do you think that Jarvis will Achieve #Mass_Adoption?
Pascal Tallarida | jarvis.network:
Good question.
“Build and they will come” is a myth as you know.
So myself I have built a 34k+ trading community in France and I have a lot of friends and partners who also have big trading communities and with who we have partnerships and ambassador program.
So the idea is mainly this: targeting community, developing educational content etc.
🏆So, if you have a trading community or are part of a trading community in India, and you like trade stocks, indexes of Fx, just text us, you could become our Ambassador in India :)
Alejandro Urich:
• Are there any restrictions on the use of Jarvis? Are some countries excluded from your service?
Vsevolod | jarvis.network:
As Pascal metioned before, you need to differentiate protocols from the UI. Protocols are decentralized and can be accessed from anywhere, while the UI will be blacklisted for some countries, like United States for example, however people from United States could still access the protocols themselves and build their own UI on top of them.
√π:
That’s great opportunity we would love to have Pascal will let you know more on this 🚀
Ijinlelomo:
As a user new to Jarvis, which one is better to trade between marging protocol and synthetic protocol?
Vsevolod | jarvis.network:
You should trade margin protocol if you want scalability, and if you don’t care about on-chain trading (short term, scalping, trade with leverage etc.) basically margin protocol is the one to replace your broker. The Synthetic protocol is if you prefer on-chain trading and if you want, for example, to exchange one token for another one (for example, your have JRT, and you want to exchange the token for APPL or Gold or EUR).
VyachCrypto:
Most newer DeFi platforms are just a copy paste of the existing ones. So, what things does Jarvis offer that no any other DeFi platform offers?
Pascal Tallarida | jarvis.network:
So, Margin protocol provides leverage on markets. It can be compared to derivatives exchanges like DyDx, Bitmex, FTX, but also to CFD brokers.
It provides lower fees, bigger liquidity, and more markets.
Synthetic protocol can be compared to Synthetix.
But, we have a better design for both end-users and LP: we do not have on-chain price feed so you mint and redeem at the current market price, user or LP do not need to over-collateralize the synthetic assets, they both provide collateral to do it, reducing the need of depositing a lot of capital; LP do not need to hold JRT to become a LP and earn fees, and JRT holders do not need to be a LP to earn fees neither.
Nur Mohammad:
What is the uniqueness of Jarvis that cannot be found in other project. that’s been released so far? And how the demand of $Cartesi will increase in the future? or what steps would you take to increase the demand?
Pascal Tallarida | jarvis.network:
I think our uniqueness has nothing to do with Jarvis or the tech of the project. but our biggest asset: the community.
As I said, I have built a big community before, and these traders are waiting for Jarvis; so unlike many other project, we already have access to a huge user base, and already can have a LOT of visibility since day 1.
Ankit 🇮🇳:
1. How can Jarvis drive adoption?
2. How is it different from other tokens like synthetix?
3. What is one milestone which Jarvis is looking to set in near future?
Pascal Tallarida | jarvis.network:
1. Guerilla marketing and mouth to ear, youtube educational content (we have a big YTB channel in France as ex), ambassador in different countries (we have a Spanish ambassador with a big trading community and one in Cameroun as well).
One KEY thing also is our wallet: a gasless contract wallet wit ha 0-fee 0-slippage fiat on-ramp to easily onboard non-crypto users so they can buy DAI or USDC without fee, without KYC, and almost instantly.
2. I can answer with an image: (see after)
3. Definitely our mainnet launch for our synthetic assets (mainly focus on FIAT at the moment) and of our margin protocol, which will follow the security audits, as well as the launch of the DAO.
Aluta Continua Victoria Ascerta:
congrats on your listing on Bancor, can you please explain more about your $JRT farming program on Bancor, who can participate and what’s the benefit
Vsevolod | jarvis.network:
Bancor program is a part of our liquidty programs together with Uniswap and Balancer. It is made to bring liquidity to JRT, so you can easily buy JRT without any slippage. For providing liquidity on one of the protocols liquidity providers share 70k JRT per protocol weekly.
Anyone can participate, and there is no minimal requirement, you can find more info here: https://medium.com/jarvis-network/jarvis-reward-programs-ffb918cab94c
√π:
Thank you Jarvis.network team for giving our members a opportunity to get to know about the project it’ss been a pleasure to host with the dashing and intelligent Mr Pascal (@Pascal_Tallarida) and the equally great balanced project Jarvis and managing the project so well amongst the community by Mr Vsevolod Potorocha (@Vsevolod_Potorocha)
Guys you can also follow Jarvis.network on
Medium — Link
YouTube — Link
Discord — Link
🚀
Pascal Tallarida | jarvis.network:
thanks you
Junkie Virus:
Thank you for joining us
Vsevolod | jarvis.network:
Thank you guys for have us!
Elly ♂️:
Thanks for ama ❤️
VyachCrypto:
Thanks! Great AMA!🚀👍
Pascal Tallarida | jarvis.network:
as I said: if you are a GOOD trader with good PEDAGOGIC skills and a trading community » CONTACT us :) we can do BIG things togehther
Vsevolod | jarvis.network:
Great questions, and great hosts!
Nolan:
Great AMA Team Jarvis
Pascal Tallarida | jarvis.network:
$JRT is listed on Uniswap, Bancor, Balancer, and you can also trade it on Dex.ag, Paraswap.io. 1inch.exchange, and Idex, and very soon we will have tier-2 CEX listing :)
Aluta Continua Victoria Ascerta:
I am an ETHICAL HACKER AND EXPERIENCED DEVELOPER, do you have plans for HACKATHON so as to check the security of your ecosytem periodically and Why are you built on Ethereum blockchain instead of other fast and Scalable chains
Pascal Tallarida | jarvis.network:
YES!
We have a budget for BUG BOUNTY and SECURITY BOUNTY :)
So after our security audit with reputable firm, we will open the bounties to security researchers and hackers, follow us so you will know when we start :)
∑ Sigma ® ||:
You can share here too once it’s live
√π:
Thank you guys for giving us time and opportunity , i hope our community learned alot about Jarvis.network . Good luck ahead 🚀
Feedback and comments are always welcome 😊
Compiled by- twitter.com/KalpeshEm for the Crypto Bharat Community.
Follow Crypto_Bharat on Twitter.
