Juggernaut AMA with BSC Gemz Recap Transcript — January 6, 2021
We had a lot of fun with the amazing BSC Gemz group. Here is a transcript of our AMA for your reading pleasure:
Ogle: So begins the Juggernaut AMA — please nobody speak anymore in here except for me and the two folks from Juggernaut! As you all already know, if you do, it’s instant kick!
@nachollanillo and @TheDeFiHeadmaster — thanks for joining us here. Before we get started with questions, let me kind of lay out how this works and make a few quick “house keeping” comments
First off, I want to update everyone that today marks the 30th day since the JetFuel AMA deposit was paid, so just prior to this AMA beginning, I sent back their deposit to @jetfuelmiro.
Likewise, as is custom here in Gemz after the folks at Legendswap, we have asked Juggernaut for a deposit. They have elected to give it in the form of 50 bnb of liquidity on the StreetSwap platform, which to be honest I think is actually more valuable than the 50 bnb just sitting in the Gemz wallet. But, point being, they’ve paid their deposit, I’m really happy to say. In 30 days, they’ll get it back of course too, assuming they don’t do badboystuff.
We got a lot of questions for this AMA, and I’ve gone through and chosen ones that I feel are representative. When we’re done with the official q/a, which should be abou tan hour, we’ll open the chat up for discussion if the folks from Juggernaut have time to stick around.
Juggernaut folks — you ready to roll?
Nacho | JGN 🦁: I’m ready! Instructions clear, let’s go
The Headmaster Juggernaut DeFi: Let’s do this
Ogle: Great! First off — How did you come to the idea to create Juggernaut Finance project, and why did you choose the name Juggernaut Finance?
Nacho | JGN 🦁: So I’m going to start first with the name. We are comic fans, so the name Juggernaut is inspired from the badass character of the X-men comics
Ogle: And maybe one of you who isn’t answering this can just give a super brief intro to what in the world Juggernaut is, please.
Nacho | JGN 🦁: It also means “an unstoppable force” in english, so it fits what we are trying to achieve
So the idea was the following. There was a point in time that we realized only exchange tokens and DeFi have proven to be successful models in the crypto space. We created JGN to help anyone build and run a sustainable decentralized business model. With DeFi and NFTs, there are a lot of new opportunities to explore (case in point, BSC has been amazing so far!)
We think decentralization will continue to be the essence of blockchain projects, and DeFi + NFTs will really make an impact in our daily lives at some point
Ogle: He and I have similar sized arms
Nacho | JGN 🦁: Nice
Ogle: Ok, well doing a project in a space that is likely to make an impact in everyone’s daily lives asks for, I think, a good bit of responsibility… which leads me to the second question:
What is the strength of your team, is there any significant project your team had been before working in Juggernaut in Eth network?
Nacho | JGN 🦁: It is indeed a great responsability to have. But I think we are all taking an step-by-step approach with new innovations in NFTs and DeFi, which is super cool!
We are all involved in the blockchain space. Our developers have experience working with blockchain technology (for example our lead developer has worked with Vitalik Buterin on a small project before), and we all have been involved in different crypto projects in the last couple of years.
I’ve personally been involved in projects such as NuCypher, IOST or Skrumble Network.
We have really strong advisors with a lot of business experience inside and outside crypto, which I think is awesome! Best of both worlds
Ogle: Good deal, that does sound like quite a solid background. Thanks for the clarity!
One thing that I mentioned in the intro, where you guys wanted to use your deposit for liquidity instead of just the straight 50 bnb — well, that ties into a question someone brought up from the community:
Liquidity of your project is not great, what is your future plans to improve it? Also, are you going to launch a Juggerswap here in BSC?
The Headmaster Juggernaut DeFi: We’d like to emphasize one thing as a point of clarity
Ogle: Yes, please. I didn’t give the backstory, but feel free to :)
The Headmaster Juggernaut DeFi: We have made 2% of our supply available on BSC
Nacho | JGN 🦁: (3M JGN)
The Headmaster Juggernaut DeFi: However, we still have a vibrant community on ETH
Ogle: We have a few questions re BSC and ETH coming up, so we’ll dive further into that for sure.
Nacho | JGN 🦁: Yeah I think maybe this is referring to our BEP-20 liquidity.
Ogle: It is.
Nacho | JGN 🦁: Which I think is a legit question, but wanted to clarify that we have nice volume so far in ETH. We recently launched on BSC with a low supply, so it’s normal that the liquidity is not going to be as strong as in ETH at the start
The Headmaster Juggernaut DeFi: So in addition to our BSC focused pools we have for example $260k+ in volume
Especially on Gate.io
However, we are exploring a greater presence and emphasis on BSC in the future
Ogle: Ok, and the latter part of the compound question was whether there is any intention of creating a “JuggerSwap” of sorts here?
The Headmaster Juggernaut DeFi: Definitely. We’ll be exploring and launching a ton of new stuff in the near future.
With BSC it’s way easier.
Nacho | JGN 🦁: So answering this, we recently have partnered with Thugs for example creating liquidity for the JGN token in their platform in return for a JGN rewards pool.
Ogle: Ahh very cool.
Many Thugs fans are here in the chat of course, and I believe it’s officially on StreetSwap, right?
Nacho | JGN 🦁: Yes it is! We actually have a very nice BSC news article 😏
The Headmaster Juggernaut DeFi: https://streetswap.info/pair/0xc7c4726d0a45e4e7392901a90dcb52ec4d2bd1a3
Ogle: Awesome :)
The Headmaster Juggernaut DeFi: Check it out
Nacho | JGN 🦁: I hope this answers the question!
Ogle: Continuing with the topic of erc/bsc, one member asked:
What version of JGN do you think or do you expect to be more successful in the near future, BSC or ERC?
Nacho | JGN 🦁: This is an interesting question. In the short term, I’m sure BSC is going to be more popular for the simple reason that we couldn’t do what we are doing on ETH at the moment. The gas fees are through the roof
The Headmaster Juggernaut DeFi: We are quite impressed with BSC TBH. We only started knowing about it in late November. And since we moved 2% of our supply as a test we’ve been blown away… needless to say we are quite committed to growing on BSC in the future
Nacho | JGN 🦁: In the future our vision is that JGN will be interoperable. We believe that NFTs should not belong to only one chain. Even with ETH 2.0, they won’t be able to handle everything. BSC is reliable, trusted, and has a great community behind
And as Headmaster is saying, we were told the BSC community would like our NFTs, but it has surpased all our expectations!
The Headmaster Juggernaut DeFi: We also like BSC’s philosophy of freedom of Assets
Ogle: I’ll ask a couple more questions about NFTs in particular in just a few minutes, but just to address worries — Many tokens built in the defi ecosystem are characterized by serious security issues. What plans do you have to combat that and ensure the security of funds and investments?
The Headmaster Juggernaut DeFi: This goes more into that: https://medium.com/juggernaut-defi/juggernaut-jgn-is-coming-to-binance-smart-chain-33b9e532d337
Ogle: I think I know who the “marketing guy” is ;)
Thanks for the links though, these are very helpful for the users, and especially later readers of the transcripts.
Nacho | JGN 🦁: We have unfortunately seen a lot of cases of security breaches in different DeFi projects, so we take security seriously.
While 100% protection cannot (and shouldn’t) be guaranteed, we audit everything, from our token smart contract (both on ETH and BSC) to our Yield Farming Pools.
Ogle: Audit is a loaded word — can you elaborate on that?
Nacho | JGN 🦁: You can find more information in the “resources” section of our website: https://jgndefi.com/resources/
Ogle: Oh, actual audits by Beosin
The Headmaster Juggernaut DeFi: https://jgndefi.com/wp-content/uploads/Smart-contract-security-audit-report-JGN.pdf
Nacho | JGN 🦁: I agree, it’s hard to know what “audit” actually means. We try to be transparent in that front. We perform security audits of our contracts regularly with Beosin, a trusted and top tier digital security firm recognized by top exchanges such as Huobi, Binance and Gate.io.
The Headmaster Juggernaut DeFi: Yes for both erc20 and bep20
Ogle: Interesting — well that’s something I didn’t know, personally.
Good to hear.
Back to the topic of NFTs — I noticed on your official websites, Juggernaut wants to add an NFT Marketplace, what’s the main focus of adding those features?
Nacho | JGN 🦁: As we have released our own NFT Exclusive Collections, and we will continue to collaborate with other projects for upcoming collections, it made sense to create our own NFT Exchange platform.
The Headmaster Juggernaut DeFi: We are excited for our upcoming BSC Compatible Interoperable NFT Exchange
That will launch next week!
Nacho | JGN 🦁: We always envisioned the JGN NFT Exchange as an interoperable place to buy, collect and sell NFTs. After reading about BSC, their vision and values were really close to what we were thinking, so we decided to make the first BSC NFT Exchange
Ogle: NFTs are definitely quite popular here.
Nacho | JGN 🦁: We are very focused on BSC. Amazing community, great interest about NFTs as you say, and awesome support
It feels like every BSC project is trying to make the ecosystem grow
Ogle: What we’ve seen on BSC is that sometimes NFTs are art, sometimes they’re “utilitarian” in that they can perform a function of some kind (for example, higher APY boosts on a farm), and sometimes they’re both or neither of these. To that end, one of our members asked:
Will the Juggernaut NFTs serve any purpose besides being a digital collectible?
The Headmaster Juggernaut DeFi: Absolutely
One of the most important elements that has pushed NFTs to the forefront of the CryptoVerse is the addition of DeFi
This enables new innovations and ways to incorporate new business models and much more
We’ll be doing many cool things with that in the near future
Nacho | JGN 🦁: We are always exploring the opportunities of NFTs. Of course art and utility are very good usecases, but we believe NFTs can be pushed forward. We are thinking about new ways to use NFTs (because they are transferable crypto tokens after all! lot of programing opportunities)
Ogle: Very cool :)
It’s true, there’s room for a bit of imagination now :)
One of our users had a question about ETH that I didn’t ask in-line, unfortunately. I should have earlier, but I don’t wanna miss it. He/she asks:
Right now you can stake JGN on ETH, but not on BSC. Do you feel this gives your ETH supporters an unfair edge over BSC users? Will you bring those pools to BSC?
Also, i wanna note that we’re in the last 3rd of the interview already! Time flies.
The Headmaster Juggernaut DeFi: We also have a cool partnership in the meantime as mentioned with Thugs Streetswap
Ogle: guys that looks like a leak ^
The Headmaster Juggernaut DeFi: What’s that?
Ogle: The pools coming to BSC!
Unless I misunderstood your self-quote :(
The Headmaster Juggernaut DeFi: Ahh yes I understand now
Ogle: Some Gemz alpha
The Headmaster Juggernaut DeFi: https://mobile.twitter.com/ThugsFinance/status/1344467520804319232
Nacho | JGN 🦁: “Users who provide liquidity on StreetSwap for the JGN-BNB pair will begin earning DRUGS tokens, which currently has an APY of 300%. “
Ogle: And who doesn’t love DRUGS?
Nacho | JGN 🦁: 😂😂😂
Ogle: Just a couple more questions guys — What’s one question you wish people would ask before getting into your project that they aren’t asking, and what is the answer to that question?
The Headmaster Juggernaut DeFi: Where can NFTs + DeFi go in the future?
Nacho | JGN 🦁: I think so far people are asking the right questions in our groups, but as Headmaster says, sometimes is good to pause and focus on what lies ahead.
Ogle: So now the hard part — the answer :)
Nacho | JGN 🦁: So where can NFT’s + DeFi go? And where is Juggernaut going?
In about 1 year, we see the BSC ecosystem expanding fast. DeFi and NFTs have caught the attention of many people, and the demand for it will only get stronger. I don’t think the ETH network will be the only provider, so having a strong name such as Binance will help the BSC ecosystem a lot. We see ourselves fully integrated with the ETH and BSC, as well as others, as we focus on interoperability. We want to make noise and move fast.
Ogle: Good stuff!
And one last question, before we kind of open it up to the folks in Gemz, if any have extra questions or wanna chat for a few minutes.
And I admit I don’t understand this question, but … I got it twice, strangely enough.
Can you update to a scrabble game soon?
The Headmaster Juggernaut DeFi: Haha
We have launched JuggerDRAW V1 and V2
Nacho | JGN 🦁: Hahaha, nice. I think people saw JuggerDRAW and are thinking about new possibilities?
The Headmaster Juggernaut DeFi: It’s our special NFT game exclusively on BSC
Nacho | JGN 🦁: Or maybe they are saying the names of our products are long? lol
Ogle: I just wanna publicly say that I openly challenge anyone to Scrabble and that if you accept, you had better bring a cheating bot, because I am an absolute, well, juggernaut at that game 🦾
The Headmaster Juggernaut DeFi: They’ve been lots of fun and have gotten a lot of excitement so far. Yes we will be doing more in the future and will bring some exciting twists soon
We are happy to and you will get leveled
Nacho | JGN 🦁: I don’t think I’m winning at scrabble vs you tbh 😜
The Headmaster Juggernaut DeFi: We can do it for a bit of bnb and maybe charity if you want
Ogle: Haha, awesome!
Well, marketing-guy, if you can send through the links to your site and channel before I open it up, that’d be great.
Also, I wanna remind everyone that the top 5 questions from today will receive an equal distribution of the $300 of tokens that Juggernaut will be sending me (soon please?). I’ll choose the winners sometime in the next 24 hours and distribute those tokens out.
The Headmaster Juggernaut DeFi: For more details about JGN:
🧿 Website: www.jgndefi.com
🗣 Telegram: https://t.me/JGNDeFi
👂 Twitter: https://twitter.com/JGNDeFi
✍️ Medium https://medium.com/juggernaut-defi/
📚 (https://emojipedia.org/books/) Coin Market Cap: https://coinmarketcap.com/currencies/juggernaut/
💎 BSC JGN Staking:
• Beefy Liquidity Vault (with Drugs)
JGN DeFi #BSC on Twitter: “Thank you @beefyfinance for adding $JGN and @ThugsFinance @ThugsStreetswap . The #BSC community is outstanding. Hit us up, we are always down to do more together. 🦁🐮💉 @BinanceChain @cz_binance @binance @AboutDefi” / Twitter (https://twitter.com/JGNDeFi/status/1344497399952244736)
👥 Token distribution plan: https://jgndefi.com/wp-content/uploads/JGN-Token-Distribution_EN.pdf
⌨️ Github: https://github.com/JGNDeFi
💎 JuggerSwap: https://juggerswap.jgndefi.com/staking/
Ogle: I accept any challenge in Scrabble and almost any challenge in quiz games :-P But never again will I compete vs others in online Poker — I lost 2k DRUGS that way in a competition they held, and it took all of 10 minutes.
Nacho | JGN 🦁: Awesome! Great questions so far 💪