Private sale of JRT to finance Jarvis development

In this article, we introduce to you the private sale of JRT organized by Jarvis LTD, to financially support the development of the eponymous ecosystem. The article tries to answer several questions, and we invite you to contact us (Discord, Telegram, Email) to ask more or to participate in the private sale.

Financial situation

At the moment, we have 108k euros ($ 117k) of cash left, plus 70k euros intended solely to supply the liquidity pools needed for launching and bootstrapping Jarvis.

A significant part is in fiat and stablecoins, and the rest in Bitcoin and Ether.

Our current burning rate is around 15k euros per month — 180k euros per year — to which are added irregular expenses such as the purchase of equipment, travel, legal and administrative costs, but also software expenses (servers, customer support, development tools etc.) which increase proportionally along with the number of users and employees.

It is therefore prudent to inflate the required annual budget to 200k euros.

The current cash flow allows us to cover another 7 months, a threshold triggering a funds raising. We are looking to raise 170k euros rounded up to 200k, to ensure at least 18 months ahead.

However, it would be necessary to add the investments necessary for development:

• Security and audit: 50k euros (at least)
• Subsidize fee for Ramp.network: 5k euros
• Subsidize gas for meta-tx: 60k euros
• Liquidity for the pools: 250k euros

This adds an additional 365k euros, bringing the core need to 565k euros, rounded up to 600k.

Jarvis, therefore, seeks to sell part of its JRTs until raising 600k euros or until the revenues generated would allow to be self-sustainable. We do not rule out accepting money from VCs but for the moment this is something we are trying to avoid.

What about income?

Even if the norm in most startups is rather to live with VCs money until they have a critical user base and find a business model, this is not the solution we consider.

The company must be profitable as soon as possible.

First of all, you need to understand how the Jarvis ecosystem is fragmented and you have to differentiate the protocols from the interfaces and from the liquidity providers.

• The Jarvis network’s Margin and Synthetic protocols belong to the Jarvis DAO (not yet created) and generate commissions on each transaction, which are collected by the DAO; JRT holders are members and vote among other things on the allocation of these commissions; they can, of course, decide to split them among them.
• The Jarvis wallet belongs to Jarvis OOD (Bulgaria) and aggregates several decentralized financial services and bases its business model on commissions.
• The Jarvis trader is a trading platform owned by Jarvis OOD (Bulgaria) and connects to various brokers and exchanges and bases its business model on affiliation.
• Jarvis exchange — which will be rebranded Jarvis market — belongs to Jarvis IBC (St Vincent); in addition to providing liquidity to the protocols, it provides trading services to users worldwide by leveraging the Jarvis network’s protocols
• Jarvis LTD (Cayman Islands) — which will be replaced by the Jarvis foundation (not yet created) — currently owns the protocols until the implementation of the DAO; it also is the issuer of the JRT and keeps a significant quantity of which are intended to be sold during the private sale to support the financing of the project.

Other structures may emerge in the future, including a payment solution to offer bank cards.

It is important to understand the separation between the revenues generated by the protocols, which are redistributed to the DAO, and the revenues generated by the companies exploiting these protocols; part of the income generated by these companies will be invested in a buyback and burn program.

For information, the current version of Jarvis exchange only works with the Margin protocol, is limited (250 Dai maximum deposit and a maximum volume of 10k dollars per trade) and have generated 58 Dai commissions for $ 6.6M traded. 29 Dai for the DAO and 29 Dai for the liquidity provider (Jarvis IBC). Assuming that despite the lift of the restrictions the volumes remain the same, 600 active traders would be needed to cover all our expenses.

What is JRT?

JRT allows you to become a member of the Jarvis DAO which govern the Jarvis network (https://jarvis.network) and collect the commissions it generates.

JRT is not a dividend-paying share, and the DAO is not a general meeting of shareholders, but you can draw these parallels to facilitate your understanding.

Besides, JRT is a utility token to secure the protocols and unlock additional features if staked, but we will discuss it in another article.

JRT is listed on Uniswap, Bancor and Forkdelta and you can track its price on Coingecko. To buy and sell the JRT at the best price, we recommend using an aggregator such as Paraswap.io.

What is the selling price?

The price of JRT during this private sale is 10% to 20% lower than the market price depending on the amount.

We invite you to contact us for any information.

Pascal (pascal.jarvis.eth on Twitter).

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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.