Newsletter, 8th of September
New week, new revelations. Let us share with you what happened last week at Jarvis.
Exchange
We continue to “debug” the exchange, and so “so far, so good”. However, we felt like the devs started to slow down again, so it was about the time to have another “talk”. They promised that all the remaining issues will be fixed by the end of next week. Although, it does not mean that we are ready to officially launch. Next step is to work on the security aspect, but at least the exchange will be functional for a stable alpha version.
After this alpha version will come our beta version, which will be officially launched and will be the beginning of the adventure :)
Wallet
After our partner ETHWorks introduced the onboarding of the wallet in Berlin, we had productive calls and discussions with Marek and Alex, the founders of ETHworks, about an exciting features: the native integration of lending protocols such as Compound and Fulcrum.
What we can do with these protocols is beyond the simple: “do you want to earn interest? — Yes! — then click here and start earning after the very first second”.
We also start thinking, a sustainable business model for gasless transaction (as you know to send ethereum token or ether, you always need to pay fees to the miners) with Compound and Fulcrum, inspired by the rDAI concept: if a user will lend tokens on Compound through Jarvis, we could take a cut: the user will receive 9% instead of 10%, and that 1% will go to the special pool, which will be used to cover the transaction costs. This way you can have a “gas-free” wallet.
The plan is to be ready by 7th of October, so it can be presented in Osaka by Alex and Marek.
We continue to find new possible partnerships. This week we had a call with the team of BZX to integrate their new project TORQUE and Fulcrum. We also started speaking with a company that does auto-rebalancing between lending protocols. How it could work: you put your money in Jarvis and it will automatically move funds between protocols according to the best rate. However, we are not sure we should include such a feature. As it is more “smarter” to spread the funds among several protocols, to negate the risk of losing all the money (Never put all the eggs in one basket). Therefore, we might implement a system which will equally divide funds between several protocols. The whole idea is to integrate more automating tools in the future, so you can easily manage your crypto wealth.
This is all for today, see you next week!
Vsevolod.
The possibilities are limitless
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