Newsletter, 17th of April
🔥 What happened last week…
- Almost 7M dollar traded on Margin protocol
- Lunch of Jarvis market and Jarvis wallet websites
- Launch of our second reward program
- Gitcoin Grant resulted in 3.9k in DAI for Synthereum
👨💻 Protocols
Margin Protocol
We are getting closer to 7M of volume traded overall, the volume for this week, however, was just 500k USD.
Synthetic Protocol
We have progressed faster than expected (the initial plan was for 4 or 5 full weeks of work) but this week our developer made significant progress finishing the smart contract architecture. However, there are still some issues to be resolved that require the help of UMA.
One of them being that UMA contracts are permissionless, meaning that anyone could interact with them. For us, it means that anyone could mint jEUR without going through Jarvis and its LP as soon as they provide sufficient collateral. It is perfectly fine as we will still receive the interests generated by the collateral, but no fee will be paid. But this creates some vector attacks, so now we are trying to figure out how to mitigate this risk.
📱 Applications
Jarvis market (ex Jarvis Exchange)
We decided to rebrand Jarvis exchange to Jarvis market to avoid further confusion since it does not provide exchange service at the moment (but it will).
You can visit our new product facing website: jarvis.market.
After almost two weeks studying the code, we started to do some minor modifications for the sake of testing. We are changing some colours, moving from the flashy green to a nice blue for some elements, and redesigning the tab system.
Jarvis Wallet
Jarvis wallet now has its own dedicated website too, jarvis.money.
We had yet another discussion with ETHworks to try to make them speed-up the delivery of several features like Ledger support and the possibility to pay transaction fee with Dai.
🐱🏍 Business
This week we have officially launched our second reward program, which aims to help us finance the entry costs for new users (as it creates confusion and user experience overall). The idea is to subsidize the fees from Ramp.network (our fiat onramp), as well as some fees associated with contract wallet deployment.
We invite you all to read the article and tutorial and join the reward program (we already have more the 3.5k USD in the pool!).
And last but now least, the calculation for the Gitcoin grant is now final and we will be receiving 3.9k in DAI total, 1.3k from donations and 2.6k of matching funds.
We would like to thank everyone who participated to it!
This is all for now, stay safe, wash hands and see you next week!
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.
