Monthly Recap — April 2021

April was a very productive month: we shipped the farming, atomic swap, JRT claiming, and JRT staking smart contracts. We also introduced a new forum and created UMIP to add more price identifiers.

👨‍💻 Protocols

Synthereum (Synthetic Protocol)

• Synthereum TVL: $1,062k
• The broker contracts are undergoing an audit by Ubik. The Bank contracts (self minting) are completed and undergoing tests by Halborn.

For the sake of understanding, we renamed borrowing and liquidity pools by respectively banking and brokerage contracts.

• We started a process to receive legal opinions on jEUR, jGBP, jCHF.
• We also worked on the atomic swap/OCLR for Synthereum. The contract is complete and is now being tested and audited. The first atomic swap between Synthereum and Uniswap have been performed on Kovan testnet:

https://kovan.etherscan.io/tx/0x386d0e8711972a38d6e22af7c1794de3aabb776f7c5d9676b9b6daa0b3526e98

Transaction performed a sell of wBTC to USDC on Uniswap, and used USDC to mint jEUR.

• New UMIP was created to add new price identifiers to UMA: NGNUSD, PHPUSD, CADUSD, ZARUSD, KRWUSD, and JPYUSD.

UMIP 90 - NGN, PHP, CAD, ZAR, KRW and JPY vs USD

• A new article to follow up on Synthereum Manifesto was released. In this article, we looked at our go-to-market strategy, marketing plans, and vision of a multi-layer ecosystem powered by Synthereum.

A multi-layer ecosystem of Synthereum and our go-to-market strategy

• Contracts for claiming JRT (for early investors), and staking JRT have been finished and are being tested and audited.

Governance

• We launched a forum to discuss the upcoming and active proposals: https://forum.jarvis.network/
• We started a discussion on how to allocate UMA tokens that the DAO receives each week to better grow the protocol treasury.
• The Senate voted to pursue the current jFiat program until the official launch of the farming dApp.
• The DAO grew by 4,071 UMA in April. As per the vote, 30% will be sold for USDC to mint jFiat, which will go to jFiat holders, 20% to Synthereum LP, 50% to the treasury. 53 Sushi tokens were added to the treasury as well.

$JRT

• After reaching new ATH in terms, of price and market cap, JRT finished the month at the $0.17 mark.
• The number of addresses slightly dropped throughout the month, and now stands at 3,581, unique holders.
• The market cap: 22M
• The liquidity: 5.2M

📱 dApps

Jarvis Exchange

https://app.jarvis.exchange

• A new version of Jarvis Exchange was released this month, which included a dropdown menu on the chart to select an asset pair, a custom notification system, transaction history, and an improved search bar.

We started working on an improved version of Jarvis Exchange from a UX point of view, and completed usability tests with some users. We also included the new atomic swap feature within the design.

Farming dApp

• The contract for farming dApp is complete and awaiting the audit. We forked Sushiswap UI and contract to fit our needs. You can test it on Kovan here (do not pay attention to numbers, it is for test purposes only):

Jarvis Farming

🐱‍🏍 MISC

jFiat program

• The monthly yield for our jFiat program is 10% (5.6% paid in jFiat and 4.4% paid in JRT) which equals to 120% APY. You can see the breakdown here.

Liquidity program

• 200k $JRT were airdropped to the liquidity providers in March which resulted in an average APY of 28.73% for Uniswap, and 9.23% for Bancor.

Sponsoring program

• The program managed to collect $3,795 in interest allowing financing $216,887 of crypto purchase.
• We airdropped 80k $JRT to the participants, resulting in an average APY of 40.49%*

The rewards will be sent to all the participants as soon as the new farming dApp launches.

Early-investors

The early investors claiming contract is complete and sent for audit. The UI for the claiming dApp is done as well.

Recruitment

We received a couple of good candidates for the Solidity dev position and been interviewing them throughout the month.

#NFT

• Tio finished our first big NFT which will be a part of our Jarvis Mythology.

This is all for now, see you next month!

Vsevolod.

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