Newsletter, 22nd of February
🔥 What happened last week…
- Chainlink version of Synthereum is live on the mainnet
- $50k of liquidity have been added, and the first synth have been minted
- The first official revenue of the DAO has been generated
- The first arbitrage happened between Sushiswap and Synthereum
- Halborn is performing a security audit of Synthereum
- APY of 28%, 18% and 55% on Uniswap, Bancor and Sushiswap
This is the first newsletter of Jarvis on the mainnet :)
👨💻 Protocols
Synthereum (Synthetic Protocol)
Last Monday, the Chainlink version of Synthereum was deployed successfully, but secretly, on the mainnet!
We started to tease the community and Twitter on Tuesday and started sending some jEUR to a few communities who have been supporting us since day 1.
Some community members who kept a close eye on our Gitlab knew about it and started to leak the info, as well as interacted directly with the contracts to mint some synthetic assets.
We also listed our jSynths on SushiSwap and added liquidity to there. You can now look for the jEUR, jCHF and jGBP ticker there.
As of today, we are the sole liquidity provider in the protocol. We provided around $50k of liquidity across 3 the pools and we also minted a few thousand of jSynths. Eventually, the first revenues were generated (you can follow this wallet).
Unfortunately, the Ethereum fees were quite high. Minting could cost you from 70 to 240 USD, therefore the interactions with the contract were limited. Of course, the scalability issue would have to be addressed in the coming months, however, it is not a priority at the moment.
Chainlink modified their threshold for the update refresh rate, lowering it from 0.5% to 0.3%. This will be reduced even further in the future.
Halborn started their audit, which will be later followed by an audit from Open Zeppelin as well as several bug and security bounty campaigns.
Nonetheless, Synthereum had its first arbitrage that took place this weekend.
The first arbitrager will receive a special NFT to commemorate for this historic moment.
$JRT
Token started an upward movement and went up to $0.26, before finally resting at $0.18 by the end of the week.
The number of addresses reached 3.1k.
📱 dApps
Jarvis exchange
https://jarvis.exchange (coming soon)
Together with Synthereum contracts, we launched a UI for testing. You can buy, sell, and exchange synthetic assets here: app.jarvis.exchange
Please keep in mind, it is not a final UI and was made for test purposes only. The onboarding texts, privacy policy and terms of service are not implemented. We are currently working on the final UI which will be released soon. You can take a glance at it here.
Jarvis wallet
A few wallet elements still have to be redesigned. So far, our approach will be simple: build a basic wallet, with basic functionalities, with the sole purpose of onboarding people using our synthetic assets.
The initial UX might not be the best one, but, of course, later iterations will be aimed to improve the UX and add new features.
🐱🏍 MISC
Liquidity program
Total liquidity: $3,800,251
- Uniswap V1: $19,927;
- Uniswap V2: $1,281,219;
- Bancor: $847,499;
- Balancer: $269,441;
- Sushiswap: $1,382,165.
You can buy $20k worth of $JRT with 2.73% slippage and $50k with 3.94% slippage.
35,000 $JRT were airdropped for Uniswap LPs, and 15,000 $JRT for the Bancore ones (50,000 $JRT altogether, which was roughly $10,000).
- Uniswap weekly ROI 0.54% / yearly ROI 28.41%;
- Bancor weekly ROI 0.35% / yearly ROI 18.40%;
- SushiSwap weekly ROI 1.15% / yearly ROI 55.18%.*
*SushiSwap LPs receive Sushi tokens as rewards
Sponsoring Program
- Deposited capital: $279,704 (-21.06%)
- Interest generated: $846 (48.61%)
- Allows financing: $48,371
Aave participants shared 20,000 $JRT this week, which translated to a weekly ROI of 1.43% and a yearly ROI of 74.36%.
Business
Even though there was no official announcement yet, we have been contacted by many concerned parties. It is overwhelming to see all the attention we are starting to get.
We also discussed possible future synergies with several projects, as well as fiat on-ramp companies for our synthetic assets. However, before we start a further engagement with other projects, we will need to pass our first audit and work on a legal opinion for the jSynths.
Marketing
For now, we won’t do an official announcement. We are waiting for the UI to be finished, and to add more liquidity, as well as for the first security audit.
For the marketing, you can expect: AMA, interviews, press release, farming dApps, trading contests, etc. however, don’t expect it to happen all at once.
This is all for now, stay safe, 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.
