Newsletter, 17th of August
š„ What happened last weekā¦
- 20k USD traded through Margineum
- Jarvis Network and Aleph.im partner to make Margineum trustless
- New version of Synthereum deployed
- JRT is now listed on Bitmax
- More than 4M USD of liquidity across 3 protocols
- Sponsoring pool can facilitate $350k purchase of crypto
- Almost at the finish line of the recruitment process
šØāš» Protocols
Margineum (Margin Protocol)
20k USD have been traded through Margin Protocol this week.
This Wednesday, we announced an already priced partnership with Aleph.im. Aleph partnership is very strategic for us as it lays the foundation of a more trustless protocol, but also enable many new features. It also is a priceless partner: it will save us a lot of time and resources (probably 6 months of work).
Margineumās quest to provide trustless, transparent, auditable, and verifiable financial data is made complete by leveraging aleph.imās infrastructure. Aleph.imās high-performance network will serve as a decentralized and distributed database to host all of the trading data, from price to trading history.
You can see the announcement here:
Synthereum (Synthetic Protocol)
We start with very good news: UMA will update their contract to support aUSDC (technically speaking, it will be possible to call the redirect() function from Aave to redirect the interests to the LP), meaning we do not have to create a wrapper for aUSDC.
This will save us time and money as well. Creating the wrapper required to write the requirements (so to think about all the security issues and address them), finding the team, coding, testing, then doing a security auditā¦ it was at least a month of work, and therefore a month of delay in our roadmap.
A new version of the protocol was deployed with some fixes in addition to more features for the liquidity providers, like adding/withdrawing liquidity from the pool and claiming the fees and interests earned.
Our Blockchain engineer is taking a well deserved 10 days vacation, so for the next two weeks, there will not be a lot of changes on the protocol. Jarvis enters in a semi-holidays mode.
$JRT
We were thrilled to announce a listing on Bitmax. Partnership with Bitmax goes beyond a simple listing, and we will reveal soon our plan to remove borders between CeFi and DeFi with Bitmax through features that will be provided to their users.
You can now trade JRT without obnoxious gas prices on Bitmax. The starting listing price was at $0.22, and it went all the way up to $0.35 with 400k volume before going back the listing price. After the announcement, the JRT reached new ATH at $0.297 on all the other exchanges.
More than 2.5k addresses are holding JRT now (2,516).
With this new ATH, the performance of the $JRT since the first private sale is around 6000%, and 3000% for the public sale.
š± dApps
Jarvis exchange
https://jarvis.exchange (coming soon)
Both the design for the mobile and the desktop version are now complete! As we are finished with the design part, we will move to write the requirements for the third party who will develop the Jarvis exchange.
Jarvis wallet
Following what we mentioned last week (our plan to move from a contract wallet to an EOA wallet) we talked with Torus, Fortmatic, and Portis. So far, Torus solution seems like the best one as it combines good UX and security. Of course, not using a contract wallet has some downside (like meta-transaction, daily limit or multi-sig), but will work around them by adding features in our Synthetic assets, like adding the permit() function to allow meta transaction, and by using the contract wallet as a safe in the wallet (ultra-secure multi-signature vault within the wallet to store a more large amount of funds), so the work done until now will not be lost. We will start next week the work on the design.
š±āš MISC
Liquidity program
New ATH for JRT liquidity and new milestone ā 4M USD! Here is the distribution across the protocols:
Bancor ā $885,070
Balancer ā $2,218,467
Uniswap ā $982,452
This week the rewards were sent a bit late due to the enormous gas prices (it would have cost us $700 on Wednesday to send the rewards so we waited for more decent gas price).
Sponsoring Program
Both the interests and the deposit reached a new ATH this week: interests generated $855, and the deposited amount rose up to $785k.
Interests are piling up meaning more and more people would be able to use our 0-fee fiat-onramp when we will be launching our wallet. So far we can facilitate the purchase of $350k worth of crypto.
Recruitment
We are very happy with the candidates that we reviewed recently, and next week we will make a decision. Finally!
This is all for now, stay safe, wash hands and see you next month!
Vsevolod.
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ā Disclaimer: This article contains text, data, graphics, photographs, illustrations and information (āInformationā) connected with Jarvis International and/or other entities part of the Jarvis group ( āJarvisā). Jarvis attempts to ensure Information is accurate, however, Information is provided āAS ISā and on an āAS AVAILABLEā 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 āJarvis Reward Tokenā 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.
