Jarvis Exchange is live!
We are thrilled to introduce to you the first dApp of the Jarvis Network ecosystem: Jarvis Exchange.
Jarvis Exchange is a non-custodial trading platform to trade synthetic on Ethereum. It is powered by Synthereum.
Platform
- You can trade only 4 assets (USDC, jEUR, jGBP and jCHF), without leverage, and only with market orders.
- Trades happen without slippage, regardless of the volume.
- For now, until all the security audits are completed, there is a limited liquidity in the system and users cannot trade for more than 500 dollars worth of synthetic assets.
- The smart search allows you to quickly select the assets you want to trade.
- The charts display Chainlink’s price feed (prices updates are not done at a regular interval).
- You can choose between three different themes:
Under the hood
User can buy, sell or exchange synthetic assets.
- BUY: the buying process is called minting. The user sends USDC to the contract, which are matched with LP’s USDC to form collateral used to mint the synthetic assets.
- SELL: the selling process is called burning. The user sends back the synthetic assets to the contract which burns them, unlocking the collateral proportionally to the amount of the synthetic burned. The user receives an amount of USDC equaling to the value in USD of the synthetic assets.
- EXCHANGE: the exchanging process is called converting. It actually combines the burning and minting mechanism; one synthetic asset is burnt and another one is minted proportionally to the value of the burnt asset. The collateral backing the burnt synthetic asset is now backing the newly minted one*.
What’s next?
The current iteration of Jarvis Exchange is not final and is just a first step towards our long-term goal: to allow anyone to trade any asset, either on the spot (with or without margin) or using derivatives (futures, options, etc.)
In the near future, more fiat synthetic assets will be added, as well as non-synthetic assets. At some point, synthetic commodities, stocks and indexes will be supported. And so will be trading with leverage, and conditional orders.
Pascal (pscltllrd on Twitter).
The possibilities are limitless
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⛔ 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 the information in this document. Jarvis accepts no liability for the results of any action taken on the basis of the Information.
