Midas Capital X Jarvis Network
We are happy to announce that we have onboarded Jarvis.Network with the creation of the Jarvis jFIAT pool on BNB chain.
Jarvis Network allows for the creation and exchange without price impact of highly capital-efficient synthetic non-USD stablecoins called jFIATs (ie. you can swap jEUR for BUSD at the Chainlink oracle price without price impact), increasing financial inclusion and facilitating access to liquidity and yield for everyone. These currencies are over-collateralized, stable, and liquid.
About the pool
Initial pool structure:
- Collateral: 3BRL LP, BUSD, WBNB, ETH, jBRL
- Borrowable: BUSD, WBNB, ETH, jBRL
LTV for Jarvis pool assets:
- 2BRL LP 70% LTV
- BUSD 75% LTV
- WBNB 75% LTV
- ETH 80% LTV
- jBRL 70%LTV
ERC 4626
Utilizing ERC-4626, the tokenized vault standard, and flywheel contract, users can use 2BRL LP tokens from Ellipsis Finance as collateral while still earning LP rewards from Dot Dot Finance. Here’s an article to help you learn more about the ERC-4626 vault standard.
When a user deposits 2BRL Ellipsis LP tokens into the pool, the Midas Protocol automatically stakes the LP position into Dot Dot Finance and the rewards can be claimed in the Midas pool’s UI.
Jarvis users can now access the liquidity from their LP position by continuing to earn yield while using the position as collateral in a money market.
About Jarvis Network
Jarvis Network is a set of protocols and applications on EVM-compatible chains to bridge legacy and decentralized finance (DeFi). Its mission is to build an infrastructure layer that can be leveraged by anyone to develop use cases facilitating the adoption of DeFi, and to build applications to onboard the next billions of users. Its first protocol, Synthereum, pioneers an innovative and capital-efficient manner to issue and exchange synthetic fiat currencies called jFIATs, thanks to a fully on-chain Forex market. jFIATs are stablecoins designed to be usable: they keep their peg, are highly liquid, and are scalable.
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About Midas Capital
Midas Capital is bringing isolated and customizable money markets to EVM-compatible blockchains. Enabling users, DAOs, and protocols to create customized and isolated pools for lending and borrowing any asset, Midas is building a cross-chain ecosystem that democratizes money markets. Pool creators have the flexibility to modify pool parameters (interest rate curves, oracles, collateral factors, pool fee, etc.) according to their risk appetite. With isolated pools, Midas offers stellar features for large-scale institutions, protocols, and traditional investors.
