JGN DeFi
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JGN DeFi

JGN x Gate.io Livestream AMA, 2 November

On the 2nd of November, Nacho Llanillo, Co-Founder of Juggernaut, appeared in a Livestream hosted by Gate.io. The format was an Ask Me Anything session (AMA) with a Chinese translator, because it was directed at the Chinese community. It reached over 1,400 people, all of them very interested in Juggernaut.

Below there’s a transcript of what was said on the AMA:

1- Please introduce yourself and JGN

Hello everyone! Good evening. I am nacho, the co-founder of JGN and I come from Spain. I’m really happy to be here and share Juggernaut with everyone.

The name Juggernaut is inspired from the character of the X-men comics. It also means “an unstoppable force”. Our token short name is JGN, and it has been listed on Uniswap, Gate and Boboo.

Juggernaut is building a DEFI + NFT infrastructure. I believe DeFi (decentralized finance) is the next big thing in crypto, because blockchain technology has many advantages over traditional finance, and there are a lot of reasons to make the change! NFT is one of the reasons. NFT is looking to digitize and tokenize many real-life items. I’m sure we’ll take a look later on.

2- What has JGN done so far?

Juggernaut has launched its first product, JuggerSWAP. It is one of our liquidity mining products. We have had 3 versions of mining pools, each version with 2–3 mining pools. Our Yield Farming Offerings have been very successful so far. As our ecosystem grows and our community increases, we will launch more mining pools.

JuggerSWAP is also a marketplace for new type of crypto assets.

We have launched our NFT marketplace. So far, users can earn points in our platform, called jXP tokens. With those points, you can unlock rare NFT rewards. We will talk more about this later.

Finally, we have been listed on Gate and Boboo.

There are a lot of interesting things coming, like NFT “gallery”, “surprise boxes” and many more. Don’t forget to join our community and follow our official channels! I hope we can all enjoy NFT together.

3- Could you please introduce NFT?

NFT stands for Non-Fungible Tokens. Common tokens, such as BTC or ETH are fungible, meaning there’s no different between each of them, they can be interchanged and divided.

The important feature of NFTs is that each NFT is unique, and they are not interchangeable, because each NFT represents something, like digital art or a sword in a game. NFTs are usually indivisible.

Assets in the real world often have two flaws: lack of liquidity, and difficulty to identify them, because there are a lot of costs in anti-counterfeiting, or trying to identify items that are not copied.

With blockchain, NFTs have better liquidity, and can conduct efficient transactions, and the cryptographic properties of tokens make them easy to identify.

4- What crypto spaces can NFT be applied to?

NFTs can be applied in games, artworks, domain names, collectibles, virtual assets, real assets, and identities. Among them, games, artworks, and domain names are developing most rapidly.

5- What’s the relationship between DeFi and NFTs?

NFTs on their own are very cool. Collectibles, rare items, digital land…. But they lack two crucial things: liquidity and incentives, which are essential in the crypto space.

DeFi protocols can make NFTs interoperable, meaning they can have a variety of uses outside of their initial purpose.

DeFi can help grow NFT marketplaces, with reward incentives to trade or create rare collectibles, yield farming a token to get unique NFTs, or stake those NFTs to get some other type of reward.

All of this happens automatically, which means NFT assets can have international exposure, and the marketplace never closes, increasing liquidity.

DeFi can make NFTs truly shine, because the ownership and authenticity guarantee that blockchain brings are best displayed when there’s a lot of movement on those assets.

6- Why is Juggernaut creating a NFT marketplace?

As a DeFi project, Juggernaut wants to help everyone be part of this revolution, and let them get exposure to new and interesting assets.

NFTs can bring a new level of experience when it comes to gaming, music, arts, customer service, loyalty points. Etc. It makes a lot of sense to explore the power of NFTs for a lot of existing and new businesses.

Our new NFT marketplace will be the gateway to discover all the possibilities of NFTs, for both companies and individuals. It offers Juggernaut the opportunity to experiment and come up with unique and crazy incentive mechanisms, business models and rare collections of NFTs.

7- Why are NFTs the next hot trend on the crypto space?

NFTs can elevate exclusive assets and experiences to the next level. Everything can be tokenized: from loyalty points to real estate, ownership, digital art, collectibles, insurance, music, films, etc.

Non-fungible tokens will be the next big movement in the crypto space because they are creating digital scarcity on new assets and experiences, and Juggernaut’s NFT Marketplace will be THE place to go to create, discover and trade NFTs.

8- JGN launched jXP mining last Friday, can you please introduce jXP?

jXP is Juggernaut’s Experience points. In simple terms, with jXP can you earn limited edition NFT assets. You can stake JGN tokens to earn jXP daily, and change those jXP for cool and rare NFTs. Only with jXP can you earn those rare NFTs. Right now there’s only a mining pool that supports staking JGN to get jXP in return.

9- When will the NFT marketplace be launched? What’s new about it?

JGN will launch the NFT Marketplace early next week. We will be releasing our products one after the other. The first product line is a collection of JGN’s Genesis collection cards, all of which are limited edition. They are split into 4 tiers. The highest tier is called GOD-MODE and there are only 5 cards.

As mentioned earlier, the only way to get those NFTs is to mine for jXP, and then exchange jXP for different NFT cards. After all the initial jXP has been exchanged, cards will start trading on Open Sea.

This is the first launch. After that we will go live with a collection of tools. This will probably be launched through a game carousel. There will be tools with different powers, each of which will be NFT and limited as well. They will be mining accelerators. For example, if you get a “shovel”, you can get 10% extra jXP through mining.

Later on, we’ll be working with NFT artists around the world to help them launch online galleries and more.

10- What are JGN’s latest marketing plans? Is there any news we should expect?

We have more than 1 million JGNs locked up in our current JGN staking pool. Many users have come over to participate in the new jXP pool as well. We are launching new mining pools with other partners soon.

But for Chinese users, I’ve heard that many of them don’t participate much in liquidity mining, so we will work with exchanges to make some “proxy investment” or wealth management products. We launched the first phase of Lock & Earn on Gate on the 12th, with a total of 1 million JGN credits. All of them have already been taken.

11- The first Lock & Earn on Gate.io was quickly sold out. WIll the second round be started soon?

It has already started! With a 98% APY and a pool of 500k JGN, be sure to not miss out! It is filling very quickly. Link can be found here.

12- Will JGN list on more exchanges?

Yes! JGN is already on three big exchanges: Gate.io, Boboo.com and Uniswap. We are currently talking with Huobi, Binance, and Upbit.

The Juggernaut team is working hard to bring our super fresh NFT marketplace and ecosystem to life, and help take JGN to unprecedented heights. We should announce the first version launch in the next week.

Be sure to follow us on Twitter, Telegram, and Medium for more updates on JGN!

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