Jarvis Network
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Jarvis Network

Newsletter, 31st of August

🔥 What happened last week…

  • 22.5k USD traded through Margineum
  • Circle offers us a nice present: gasless USDC
  • New hirings joined the team
  • Sponsoring program overpassed $1M in TVL

👨‍💻 Protocols

Margineum (Margin Protocol)

The refactoring of the Dealing desk node (the backend run by the liquidity provider) has been started, to prepare for the transition to a more scalable and production scale solution; for those who know, we are now creating and deploying Terraform configuration for multiple elements of the backend.

Synthereum (Synthetic Protocol)

This week we started brainstorming on various aspects of the protocol, most importantly how to wrap our synthetic assets into perpetual contracts, as today they have a term.

Amazing news came from Circle this week: they will add the permit() function to USDC to make it gasless. This means that you will no longer need to hold ETH to use Synthereum as the entire “chain of production” of the protocol becomes gasless, from providing the collateral (USDC) to send, convert or redeem synthetic assets.

$JRT

The entire week was pretty flat until the weekend. JRT rallied from $0.13 all the way up to $0.21.

The on-chain analysis coupled with some insight from diverse chat groups showed that the recent drop was mainly due to token holders being afraid of the new token release, more than a sale of these new tokens.

Apart from that, 2,562 addresses are now holding $JRT.

📱 dApps

Jarvis market

https://jarvis.market

This week was the first week our new team member, Yuri, a sharp-minded senior full-stack developer. He started working on the UI to complete our graphic libraries as some of the elements were missing.

Since we are going to use the same element across all our applications, it will speed up the development of all other applications.

Jarvis exchange

https://jarvis.exchange (coming soon)

We have done additional back and forth on the design after testing the UIX, and are now preparing the requirements and user stories to start the development of the final UI for Jarvis Exchange.

Jarvis wallet

https://jarvis.money

The new updated design is almost finished and takes into account Torus user flow!

As we said above, we are quite pleased to see gasless transactions on USDC, as it will immensely increase UX in all of our applications.

Initially, one of the tradeoffs in moving from DAI and to USDC and more generally from our contract wallet to an EOA wallet was the inability to have gasless features within the wallet. Not anymore, at least for the main asset in the wallet.

Together with our 0-fee fiat on-ramp, it will create one of the best user-experience to gain exposure to various markets in a decentralized and trustless way.

🐱‍🏍 MISC

Liquidity program

The liquidity is stable and stayed at 3.3M through the week, below you can see the distribution across 3 protocols.

  • Uniswap — 537,959
  • Bancor — $780,513
  • Balancer — 2,027,277

Sponsoring Program

Sponsoring program continues its record-breaking spree, and now holds more than 1M USD in various stablecoins (1.2M to be exact). Incredible milestone, especially if you take into account all other competing farming programs.

$505 were generated this week. This allows the financing of 28,857 dollars of crypto purchase.

Recruitment

We are thrilled to announce that the two developers accepted our offer; one of them have started working since last Wednesday, Yuri.

If you remember, we were just two developers (one Blockchain engineer, Alessandro, and one Full-stack developer, Asim) in addition to Petar, our CTO. With this additional manpower, code reviews will be done faster now, Asim can finally concentrate on the backend of Margineum and Jarvis Market and we can move forward with Aleph :)

We are also waiting for replies on other offers that we have sent. Recently a number of CVs from blockchain developers have been sent to us — a bit late to the party, but better late than never:)

Business

AMAs are over, its podcasts time! We recently started doing one podcast a week; this helps raise awareness not just for Jarvis but also for people behind it. We are always happy to participate and share our thoughts (not all of them are in English however), you can see the full list here:

This is all for now, stay safe, wash hands and see you next month!

Vsevolod.

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Risk Warning: Investing in digital financial assets involves a high degree of risk and volatility and is not suitable for all investors; do not risk more money than you can afford to lose. Please consult an independent professional financial or legal advisor to make sure the product is right for you.

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.

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