Bringing the DeFi landscape together under one Umbrella: Jigstack
As the decentralized Finance (DeFi) space continues to grow, more and more assets are locked into CDPs (Collateral Debt Positions), used to provide liquidity, stake tokens, digitize art, or create synthetic assets. These are just a few of the possibilities that smart contracts offer.
However, with all its innovations, the DeFi space is highly fragmented, with different projects accepting different tokens, running on other protocols, and functioning with different algorithms. This in itself creates inefficiencies making DeFi harder to navigate and, anyone who has tried benefitting from yield farming across pools might have paid a lot in gas to do so.
Jigstack was launched to bring wholeness, simplicity, and understanding to the fragmented landscape. With a suite of flagship products all governed under one single DAO, Jigstack will be the first in the DeFi world to bring traders together under an umbrella covering all areas of DeFi.
The Jigstack DAO, like any other DAO, is an autonomous organization governed solely by its users without any intermediaries. Anyone participating can propose changes and vote on proposals.
The difference of the Jigstack DAO to other DAOs is that, so far, most DAOss were specific to one single protocol or service. For example, the Maker DAO is just focused on the Maker platform and proposing changes for that particular protocol. Jigstack creates a structured system for the DAO that will incorporate various DeFi products all under the Jigstack Umbrella.
The team has partnered with Hedera Hashgraph to create different in-house DeFi products that benefit from the faster, more energy-efficient Hedera architecture.
One of the main goals of Jigstack is to provide a user-friendly interface representing their one-stop-shop for Defi that is s self-explanatory and easy to use that “even grandma can participate in DeFi”.
Just like puzzle pieces, all products and services created under the Jigstack umbrella can be combined to make them into one product, empowering users to create their DeFi universe.
The first product the Jigstack team is launching is called Lemonade Stand. Lemonade Stand is a token launchpad integrated with the hedera ecosystem that provides an intuitive interface and simple UX to make it easy for first-time issuers.
To increase the interoperability of the DAO, Jigstack is partnering with various DeFi projects such as Polygon and Bonded Finance. Polygon is a multi-chain scaling solution that uses side chains to help protocols scale while reducing transaction costs on Ethereum.
Bonded Finance provides instant access to lending markets for newly issued tokens and is, therefore, a valuable partner for anyone who will create tokens using the lemonade stand.
Jigstack provides a superior experience and product suite to other DeFi platforms thanks to its high level of interoperability, the governance through its network participants, their partnerships with innovative leading companies, their product design that is always focused on user experience as well as quality standardization to ensure a high level of services.
The Jigstack token STAK plays an integral role in the ecosystem. Token holders can stake STAk into the DAO pool or lend them to borrowers for a fee. They can also vote on governance proposals and participate in revenue share. All participants on Jigstack are compensated fairly in proportion to the contribution they make to the platform.
STAK is will start trading on Bitcoin.com Exchange with USDT pair on the 7th of June.