Newsletter, 7th of September
🔥 What happened last week…
- 2.6k USD traded through Margineum
- The first step with Aleph
- Jarvis partners with Switcheo and lists JRT
- Sponsoring pool generated $1,6k in interest
- Jarvis teams up with Halborn to level-up the security
👨💻 Protocols
Margineum (Margin Protocol)
This week was pretty poor in terms of trading volume in our beta with 2.6k USD traded. Remember that only people testing the platform are doing trades in here, so volume is not very relevant, yet.
Asim has been mainly working on Terraform to set up the initial infrastructure for the Dealing Desk backend. There is still some work to be done on the architecture, which should be completed next week.
The liquidity aggregator we work with, who agreed to deploy a read-only API which will be used by the nodes to push all the trading data on Aleph, is a bit in late but should be able to deliver it in the next few days.
Therefore, in addition to the work on Terraform, Asim and Petar started playing with Aleph and took few hours off this week to push a basic “Hello World” on their network. Next week, we will try pushing some trading data from the Dealing Desk Node on it. You can see the result here.
Synthereum (Synthetic Protocol)
Alessandro, who came back from his 2-weeks break, had to redeploy all our synthetic assets contracts on Kovan as they all expired this week (our Synthetic assets are non-perpetual contracts, yet); this time we set up a longer expiration term.
After that, he started working on refactoring some part of the contract to update Synthereum to the latest UMA version, as until now, we were working on the former one (when we completed our protocol, UMA updated some parts of their contracts and we still have not taken these changes into account).
The “balance check” and “notification script” for Synthereum that we completed last week has been reviewed and merged this week; as a reminder, this feature allows to monitor the liquidity and the collateral ratio of the liquidity providers and alerts them in case it goes below a certain threshold.
$JRT
$JRT has been listed on the Switcheo cross-chain DEX. Like for Bitmax, we will go beyond a mere listing, but we will explain it all when the time will come.
We have also listed the token on the AMM Mooniswap, from 1inch (who have listed back $JRT on their dex aggregator).
For now there is no reward program on Mooniswap but we may launch one soon.
Apart from that, Ether and DeFi tokens lost 20 to 60% this week, and $JRT is no exception, pushing down the price below 10 cents.
The number of holders dropped a bit as well, but it is still above 2.5k.
📱 dApps
Jarvis market
Yuri has kept being working on the UI package. After having added some new components including a new icon pack (with all icons we use across our projects so we don’t have to use custom made icons), emojis, checkbox and radio components and the theme switch component (to switch from light to dark mode), he started refactoring all the old components (to move from SASS to Styled components).
Jarvis exchange
https://jarvis.exchange (coming soon)
Iliyan finished the requirements and the user stories document which will now be sent to several third party company we are in contact with.
Jarvis wallet
Tio finished all the design of the updated version of our wallet (using Torus solution) and will now have to write down all the user stories and requirements.
🐱🏍 MISC
Reward program
At the exact opposite of farming program pushing up their APY, this week we started reducing the rewards distributed through all the programs; the rewards will be gradually reduced down to 20k $JRT per week and per program at the end of the year.
This will make the $JRT harder to get, and will free-up space for future reward programs.
Liquidity program
With the drop in price the overall liquidity also dropped significantly to $2,340,740.
- Uniswap: $421,344
- Bancor: $616,112
- Balancer: $1,303,256
Sponsoring Program
Although the sponsoring pool suffered a hit in the total amount deposited due to some opportunity cost (farming other tokens), the raise of the interests rate profited us allowing the pool to generate a new record: $1,691!
Alone, this amount, we can sponsor up to $96,628 of 0-fee USDC purchase!
To speed up the growth of this pool, we will use the stablecoins received to farm some tokens with them. The funds will stay in the same wallet so you will be able to follow its growth.
Partnership
As we stated many times, security is the number one priority for us and one of the main reasons why we raised funds.
Since a few weeks, we have been discussing with Halborn, a security firm which will accompany us for a few months. In addition to their continuous work on the security, we are pleased to announce that Halborn will become an official advisor of the Jarvis Network project.
Steven from Halborn and Petar had their first kick-off call Monday.
This partnership will not prevent us to go for a one-shot security audit with reputable firms.
This is all for now, stay safe, wash hands and see you next month!
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.
