Newsletter, 27th of January

Another week, another report. Here we present you the idea behind burner wallet, results of our trip to London and more!

Jarvis Exchange

Margin protocol

Unfortunately, the team from Vietnam warmed us at the last moment that due to New Year celebrations in Asia they won’t be able to support us until the end of the month, crashing our hope to be live in January.

Synthetic Protocol

In the meantime, the synthetic protocol did its first step and we were able to mint the first synthetic Euro token, backed by an interest-bearing token. You can see a video on our discord channel: https://discord.gg/ra9t2D

There is still a bit of work to be done before to get a public working prototype that will allow us to finally unveil our evil plans to take over the synthetic market. We will start with an article describing the technical details, followed by an article describing the vision and our go-to-market strategy. There are few people that know what we are building, including the lucky-one who attended the private event in London; we pitched them the protocol and they got really caught by it.

It even looks like there is more interest in the synthetic protocol than the margin trading one. What started as a side project in order to improve the user experience within our margin protocol (i.e deposit Dai but display balance in any fiat currency) might actually become a monster and be the building block within the whole ecosystem, which will generate huge revenues. Indeed, the Margin protocol can only be used in a closed environment: a trading platform. Anyone could build a trading algorithm or another trading platform on the top of it, but since all the positions happen off-chain they could not be “exported” out of the protocol (until we allow to tokenize them, but it won’t happen anytime soon). Oppositely, the synthetic protocol allows to be integrated into literally any project, should it be a wallet (it would allow Monolith or Argent users to get exposure to any asset), social trading (Set protocol) or a hedge funds (Melonport), or money market (Fulcrum or Aave). And not to mention the perfect integration within our wallet, which will allow the Jarvis wallet to become a decentralized and borderless Abra wallet.

Wallet

Contract wallet

We are still hoping the team will respect the deadline to launch the V3 of the wallet.

Burner Wallet

The key to success is agility: remain agile. Like for the synthetic protocol, the initial point of the burner wallet was to only be used during the events. But then we started thinking that it actually can be the perfect tool to easily onboard users in everyday life, at a friend’s or family’s dinner, in a bar or restaurant, etc.

The burner wallet is quickly becoming a critical component of the Jarvis wallet, which might help us to win the wallet war by onboarding thousands of users in the easiest way possible.

We want to create a “WOW” effect! Look at the image below; it is a UIX draft of what could be the burner v2 (we will first launch a simple burner wallet to test it).

Imagine being in a restaurant with your friends. You are at the dessert, and for the umpteenth time, you try to convince them to create a wallet and start to play with DeFi. But this time is different!

1. Ask them to visit app.jarvis.money; as they land on it a wallet will be automatically generated, without them knowing it.
2. They will now have to add funds! And do not be greedy! If you want to convince them you will have to give them some Dai: you will give to each of them a magical QR code that you would have printed earlier (a private key loaded with few Dai), or you will send them some Dai from your wallet by scanning their address. Of course, they could also buy some Dai with their banking card or bank account — all of this under a minute — but this will require additional steps for them.
3. Then you will kindly ask them to press some buttons: “enable magic money” — will automatically place 30% of their balance in the DSR (earning 7.75% a year) and transform their balance into a stopwatch; “plant a tree” — will move 30% of their balance in a rDAI contract linked to rTree and they will see in realtime how many trees they have helped to plant; “invest in stock” — will swap 20% of their balance into a synthetic Tesla share; “play no-loss lottery” — will buy a $1 lottery ticket powered by Pooltogether, with a chance to win $1000 every week and have their dollar back if they lose; “autopilot” — will automatically set the remaining 20% in a TokenSet, an automated ETF to invest in Ether.

Imagine, with a single click on these buttons they will start earning money, without knowing there is blockchain behind; and now that they have a skin in the game, they will only have to press on a button “open an account” to deploy their contract wallet and enjoy all the features of the wallet.

JRT

Some bounty hunters (actually just one) who have created multiple accounts to participate in the Bounty are selling for a few days, and have made the price sink. We knew it was inevitable; on the other hand, it gives the opportunity to other people to buy JRT at a lower price. It did not affect the liquidity which remains stable, $17k in Uniswap and $15k in Bancor.

We have filled the form to be listed on CoinMarketCap, and are now waiting for their response.

We also have been in touch with the Uniswap team (actually its founder, Haydan) to make the token discoverable. Unfortunately, it requires some extra work from our side which was not planned and we have decided that for now our resources will be better allocated somewhere else for upcoming weeks, so we will postpone that.

Business

We continue to review candidates and we have received a new one that we will interview next week. This very same next week where we will finally make our choice 😊

Last week we flew to London to pitch in front of VCs and business angels; we demoed and explained the margin and synthetic protocols and the people in the audience who were very familiar with financial market and trading were flabbergasted! This gave us another boost of confidence about what we do.

We already got a follow-up from one of the attendees, an advisory firm which connects you with VCs and private investors and handles everything, from the pitch deck to the funds raising; they will work on a success fee-based, instead of a service fee, as they really liked us.

And finally, right after landing in Sofia, we went directly to the DeFi meetup we were co-organizing with our friends from WeiDex. This time we introduced liquidity pools and market-making 😊

This is all for now, see you next week!

Vsevolod.

The possibilities are limitless
Join us in Discord
Find out more on Facebook
Follow us on Twitter
Discuss on our Bitcointalk
Stalk us on Instagram
And visit us at jarvis.exchange

⛔ Risk Warning: Investing in digital financial assets involves a high degree of risk and volatility and is not suitable for all investors; do not risk more money than you can afford to lose. Please consult an independent professional financial or legal advisor to make sure the product is right for you.

⛔ Disclaimer: This article contains text, data, graphics, photographs, illustrations and information (“Information”) connected with Jarvis International and/or other entities part of the Jarvis group ( “Jarvis”). Jarvis attempts to ensure Information is accurate, however, Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. The publication of this article does not represent solicitation by Jarvis of buying the token “Jarvis Reward Token” and is not to be considered as a recommendation by Jarvis as to the suitability of any investment, if any, herein described. No action should be taken or omitted to be taken in reliance upon Information in this document. Jarvis accepts no liability for the results of any action taken on the basis of the Information.