Newsletter, 29th of March
- Synthereum TVL reached $808k and $518k of synthetics have been minted.
- Borrowing pool Solidity code is complete
- Our second audit started with Ubik
- DeFi Llama listed Jarvis
- New token economics published
- New release of Jarvis Exchange
- APY of 24%, 8%, and 49% on Uniswap, Bancor, and Sushiswap
👨💻 Protocols
Synthereum (Synthetic Protocol)
- jSynths minted: $518k
- TVL: $808k
- 9k of available liquidity to mint around $18k of jSynths
The vote of the Jarvis Senate quickly produced results and Synthereum reached its first hard cap with more than $500,000 of jFiat minted.
Fun fact: the last minter of jCHF was Mt. Pelerin, with who we hope we could work with in the future.
The solidity code for the self-minting /borrowing pool as well as the deployment scripts are done. We now move to the test phase.
We have hired Ubik for our second audit and the results of the first one will be published soon. With the completion of the second audit, Synthereum LP funds will be further increased.
In the meantime, DeFi Llama listed us so you can see the TVL statistics in real-time. Note that the TVL is also visible on our Coingecko page.
$JRT
Throughout the week, JRT price was ranging at around $0.15.
The number of holders increased by several dozens over the week, reaching 3,379 unique addresses.
We also updated our token economy, with the goal to further integrate JRT within the protocol, incentivizing its usage and staking to absorb the inflation:
Governance
This week was quite active in discussion, mainly about how to be the fairest possible with the voting system as well as how to structure the governance, establish rules, processes etc.
We invite everyone to join our Discord to discuss with the active Senate members.
With the increase of synthetic assets minted, the treasury received 627 UMA tokens this week.
- 20% went to the Synthereum LP
- 30% are kept to reward the holders
- 50% have been re-invested in Sushiswap
The treasury now holds $26k.
📱 dApps
Jarvis Exchange
This new release has few new features:
- a notification system
- a recent activity panel
- a dropdown menu to choose a pair directly from the chart
🐱🏍 MISC
Liquidity program
Total liquidity: $4,220,609
- Uniswap V1: $18,971;
- Uniswap V2: $1,136,150;
- Bancor: $1,441,878;
- Balancer: $415,492;
- Sushiswap: $1,208,118.
You can buy $20k worth of $JRT with 1.11% slippage and $50k with 2.57%% slippage.
35,000 $JRT are added to the next airdrop for Uniswap LPs, and 15,000 $JRT for the Bancore ones (50,000 $JRT altogether, which was roughly $7,500).
- Uniswap weekly ROI 0.46% / yearly ROI 24.02%;
- Bancor weekly ROI 0.15% / yearly ROI 8.11%;
- SushiSwap weekly ROI 1.03% / yearly ROI 49.17%.*
*SushiSwap LPs receive Sushi tokens as rewards
Sponsoring Program
- Deposited capital: $502,477 (40.93%)
- Interest generated: $1,241 (88.82%)
- Allows financing: $70,914
Aave participants share 20,000 $JRT, which translated to a weekly ROI of 0.59% and a yearly ROI of 31.04%.
This is all for now, stay safe, and see you next week!
Vsevolod.
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