Newsletter, 14th of December
🔥 What happened last week…
- The price feed undergoes tests
- Meta signature integration is completed and awaiting for deployment
- Possible data provider for stocks and indices is found
- New implementations within Jarvis Exchange UI
Synthereum development has reached the finished line, everyone works overclock to be sure that everything will be delivered on time.
👨💻 Protocols
Synthereum (Synthetic Protocol)
We have finished the complete refactoring of the smart contract to support meta-signatures, and now we are working on a migration tool to deploy it. The only thing remaining to fully integrate the meta-signature within the Relayer, which still requires a lot of work.
The price feed integration is done but will now require tests.
We discussed with various teams doing synthetic assets and one of them helped us discovering a data provider who is okay to provide a stock price feed for issuing synthetic assets. Our current data provider limits us contractually, so we cannot use stocks and indices price feed in the public environment as we want to (we explained it in our article).
We also got back in touch with Chainlink to discuss the possible usage of their oracle. Initially, Synthereum v0 was using Chainlink, but it was decided to move to an off-chain price feed in order to mitigate the front-running risks. The only way to mitigate this risk while using an on-chain price feed was to increase the refresh rate of the price feed which is too expensive on the Ethereum L1. However, since Chainlink will soon introduce their Threshold signature technology, which will drastically reduce the cost of their oracle, it may be possible to increase the refresh rate without having to spend thousands of dollars.
We are very excited as it would completely remove the single point of failure of Synthereum.
$JRT
JRT price decreased over the course of the week, together with the rest of the market. The number of the token holders is stable above 2.5k
📱 dApps
Jarvis exchange
All the UI elements are done, from the charts to the activity window, and we are mainly working on implementing all the business logic, price feed, and blockchain data within the UI.
🐱🏍 MISC
Liquidity program
Together with the price, the total liquidity dropped as well and is totalling to $1,482,942
- Uniswap: $439,032;
- Bancor: $291,526;
- Balancer: $752,384.
You can buy $20k worth of $JRT with 2.39% slippage and $50k with 6.93%% slippage.
23,125 $JRT per protocol were airdropped to all the reward program participants (69,375 $JRT altogether, which was roughly $4,509).
- Uniswap weekly ROI 0.34% / yearly ROI 17.80%;
- Bancor weekly ROI 0.51% / yearly ROI 26.81%;
- Balancer weekly ROI* 0.19% / yearly ROI 10.38%.
*excluding $BAL rewards
Sponsoring Program
It was decided that all the interest collected in December will be donated to the less fortunate ones. Special thanks to all the participants in December!
- Deposited capital: $761,324 (6.63%)
- Interest generated: $1,011 (-33.72%)
- Allows financing: $57,771
Aave participants shared 23,125 $JRT this week, which translated to a weekly ROI of 0.19% and a yearly ROI of 10.26%.
This is all for now, stay safe, wash hands and see you next month!
Vsevolod.
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⛔ 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.
