Yield Farming with Jarvis Network

We are happy to unveil our yield farming program designed to bootstrap the liquidity of our synthetic assets and our native token, the JRT.

Participants are rewarded with the Aureus token, a token with a quite unique design and property.

TLDR:

• dApp: https://yield.jarvis.network/
• The contracts are forked of Sushiswap’s Masterchef and have not been audited yet. Use it at your own risk.
• The program starts on the 19th May, around 10 am GMT at the block 12463992, and lasts 600k blocks, the 19th of August.
• Each week, Jarvis will add JRT, UMA, and USDC to a reserve contract, based on the activity of the network: the more synthetic assets are minted and traded, the more tokens will be added.
• Participants receive AUR-0819 token, which can be redeemed for a share of the reserve contract after its expiry, the 19th of August; there are 100 AUR-0819 tokens, so 1 token can be exchanged for 1% of the tokens held in the reserve contract.
• jEUR-USDC, jGBP-USDC, jCHF-USDC, JRT-ETH, and AUR-USDC are incentivized.

In addition to this article, we strongly recommend you to watch this video which goes way deeper. You can skip the first 28 minutes which are for beginners.

And if you are a beginner and need some assistance, you can follow this step-by-step tutorial to participate in the program or ask questions in our Discord.

jFIAT LIQUIDITY PROVISION GUIDE .docx

The Reserve contract and the Aureus token

The first idea behind the Aureus token was to design a multi-tokens farming program that can be automated.

Background:

• Our protocol Synthereum is built on the top of UMA. As such, it receives part of the 50,000 $UMA distributed weekly. All the $UMA tokens belong to the protocol: 50% are used to incentivize liquidity providers (40% for AMM LPs and 10% for Synthereum’s Broker contract LP) and 50% are kept in the protocol’s treasury.
• Everytime a synthetic asset is minted through the Broker contract, a fee of 0.1%, paid in the collateral-type (USDC) is paid to the protocol; everytime a synthetic asset is minted through the Bank contract, a fee of 0.3 to 1%, paid in the collateral-type (UMA, AAVE, LINK, CRV, ETH etc.) is paid to the protocol too.

Each Wednesday, we will deposit 40% of the $UMA tokens received and 50% of the fees collected into the Reserve contract. We will also add 500,000 JRT.

100 AUR-0819 have been minted and will be distributed at a pace of 0.000165 tokens per block during 600,000 blocks (3 months). At their expiry, the 19th of August, each 1 AUR-0819 token can be sold for 1% of the Reserve contract.

Ex: if, the 19th of August, the Reserve contract holds $650K worth of tokens (JRT, UMA, USDC, etc.) then each 1 AUR-0819 that will be burnt will allow its holder to receive $6,500 worth of tokens.

The AUR-0819 token:

• 100 AUR-0819: 0x94183cfacfaca73ba36a12a4cd7775fdae5fed69.
• 0.000165 AUR-0819 distributed per block.
• On the 19th of August, AUR-0819 holders can redeem the tokens stored in the Reserve contract in https://yield.jarvis.network/claim. If, after 300k blocks have passed since the expiry, there remain tokens in the contract which have not been redeemed, the admin can call a function to withdraw them. The governance will decide what to do with these tokens (add them to a new farming program, share them with the participants, add them to the treasury etc.)

There will be more AUR tokens, for each new program that we will launch. For ex, there could be a AUR-1120 token on Polygon, or a AUR-1015 token for a Uniswap v3 program. The governance will decide the duration of these programs, and the holdings of their associated reserve contracts.

Farming AUR-0819 with Forex Yield Farming

Forex yield farming allows to generate high yield with stablecoins.

The Synthereum’s ecosystem needs liquidity pools to provide an additional source of liquidity when the Broker contracts dry out and to enable the trading feature described in the Manifesto.

3 pools will be incentivized:

• jEUR-USDC: 0x2751…45b8
• jGBP-USDC: 0x7562…40b1
• jCHF-USDC: 0xb420…a70e

Each pool receives 0.00004125 AUR-0819 tokens per block or 24.75 for the whole program.

In addition to the AUR yield, each pool receive 0.25% of trading fees.

2. JRT-ETH yield farming

The JRT token needs to be more liquid to be used as collateral to mint synthetic assets. Using JRT and stJRT as collateral will enable a nice momentum for our token and will give it more utility and value.

2 pools will be incentivized:

• JRT-ETH on Sushiswap*: 0xf136…60d3
• JRT-ETH on Uniswap v2: 0x5021…7921

*Sushiswap has integrated the JRT-ETH pair into their Onsen program; for now, you cannot combine the two incentives, and you will need to choose either one program. In our v2, it will be possible to accumulate the two rewards. For LP who are already providing liquidity on Sushiswap, you will need to unstake your LP token and stake them in https://yield.jarvis.network.

Each pool receives 0.00001375 AUR-0819 tokens per block or 8.25 for the whole program.

In addition to the AUR yield, the Uniswap and Sushiswap pools respectively receive 0.30% and 0.25% of trading fees.

3. AUR-0819-USDC

The AUR token requires liquidity to allow participants to buy or sell it before expiry.

1 pool will be incentivized:

• AUR-0819-USDC: 0x5021…7921

The pool receives 0.00001375 AUR-0819 tokens per block or 8.25 for the whole program.

In addition to the AUR yield, each pool receive 0.25% of the trading fees.

Trading mechanisms

The AUR token can be seen as a 3-month term future contract, whose value will be fixed on the 19th of August. We expect the market to price the token adequately by anticipating how many $UMA Synthereum will be receiving, or how much fees are collected.

There will be some information asymmetry between the ones who closely follow the project and the others, which could lead to great arbitrage opportunities.

We invite everyone to join our Discord and engage with the community to discuss the trading of the Aureus tokens.

Pascal (pscltllrd on Twitter).

The possibilities are limitless
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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 the information in this document. Jarvis accepts no liability for the results of any action taken on the basis of the Information.