Newsletter, May 25th
Another week has passed, so it is the time to bring yet another project update for you. Today we will unveil more details on partnerships, wallet development and much more.
Wallet
First things first, the final design for the alpha version of the Jarvis wallet is done, with all the basic features (creating the wallet, sending and receiving tokens, wallet recovery, and passwordless login). Also the first alpha version will use meta-transaction so users would be able to send tokens by paying the gas in the token they want (pay with DAI, ETH or even JNT in the future…).
While it might sound poor in term of features, one has to remember that we do not just do a simple wallet, but a smart-contract based wallet which encompasses numerous advanced security features that are required for the mass adoption. After deliberated talks with the team in charge of developing the smart-contract of the wallet (ETHworks), we estimated that the first alpha release would be most probably in August.
Our in-house developers are already working on the UI part and created a setup, so it can be tested on all kind of devices.
Now we work on the design parts of a more advanced version of the wallet with more functions such as dapp browser, defi tracker, portfolio management system, etc.
Exchange
A quick update on the API problem from last week, we did further talks with the development team in Vietnam, and our liquidity provider agreed to help us in that regard. We are on our way to fix it next week; unfortunately, we lost two weeks of development because of that, to be fair it is not something unusual within the IT sector.
On a side note, we encountered a small administrative complication with the entity in St. Vincent to finalize the contract with the liquidity provider. We talked with the lawyers on how to move forward, and it appears that running part of the operational business in Bulgaria will be the solution: onboarding and brokerage will be done through St. Vincent and liquidity providing will be done through Bulgaria; hence the Bulgarian entity will be the one managing the risk of the exposure of Jarvis users, while they will trade against the smart-contract in St Vincent. Such a decision will ease the administrative burden and bureaucracy.
And since we are talking about bureaucracy, as you remember we were planning to acquire a crypto-exchange license in Estonia. However, the regulations in the county changed, and it has become more complicated as well as expensive to obtain such a license; hence, we are looking for other possible alternatives.
By the way, we are thrilled to present and share with you the first screenshot of the trading platform, as promised! Though, keep in my this is an early alpha version:
Business
On the bright side, we are pleased to announce a new partnership! This week we have signed an agreement with Arcane Network. Although Arcane can be seen as a competitor of our own wallet, we believe that the value of partnering is greater than competing, and great synergies can be found bringing massive value to for both projects: we will provide the users of Arcane network, a one-click login to our exchange (so their users will be able to login in Jarvis from their Arkane account).
More details will be given in the next press release.
We are also discussing with many other wallet providers so their users will be able to trade on Jarvis with their login solutions.
As a reminder, Jarvis Exchange can be launched as a standalone solution, inside Jarvis Network, or from any Dapps browser such as Trust Wallet (Binance), Cypher, Status, imToken or Coinbase Wallet. These kinds of the partnership will ensure a massive exposition for Jarvis Exchange as soon as we will launch on the mainnet.
And last but not least, if you were following our chat or read the end of our whitepaper, you know that in the future we will add another token powering our future protocol — JNT for Jarvis Network Token. JNT will be utility token; it is still in the concept stage, and we start working on JNT utility and token economic and we are exploring several scenarios of possible usage such as sharing trading data to mint the token, stake it to become a liquidity provider alongside with Jarvis, paying fees of course, etc.
P.S. As we mentioned last week, the dashboard will be turned off, so you will not be able to access it and see your tokens.
That is all for this week, Jarvis team wishes you a great weekend. And see you next week!
Vsevolod.
The possibilities are limitless
Join us in Telegram
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.
