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Weekly newsletter of Jarvis Network 🧪 - Issue #37

Weekly newsletter of Jarvis Network 🧪 - Issue #37
  • Second buyback of JRT
  • First research and development for a deployment on RSK
  • The governance voted the deployment of the v2 on Optimism
  • $1.7M of on and off-ramp in July
  • JRT to JARVIS migration module completed
  • The governance approved the seeding of the Midas Capital pool

📰 Quick news
Second buyback of JRT
Jarvis Network 🧪🦇🔊
~47.5k $JRT has been bought back to pay the LPs.

In our v2, LPs earn:
▪️ trading fees in USDC
▪️ yield on collateral in USDC and JRT (50% of the yield is used to buy back JRT from the market)

6,2M USDC are deposited into Aave v3 on @0xPolygon (LPs have deposited 665k).
Jarvis Network 🧪🦇🔊
Doubling down on $jBRL soon!

$jEUR is for now our most used and known stablecoin.

But our stablecoins future lays in LATAM and Africa.
Why the 4eur pool has been replaced?
Jarvis Network 🧪🦇🔊
The #4eur has been replaced by multiple 2eur pools:

2eur (agEUR) with @AngleProtocol
2eur (EURe) with @monerium
2eur (PAR) with @mimo_labs
2eur (EURT) with @Tether_to

With more 2eur pools coming (EURS from @stasisnet or EUROC from @circlepay).


Utility of the pools on Curve
Jarvis Network 🧪🦇🔊
Example with $PAR from @mimo_labs.

Liquidity: using the 2eur (PAR) pool, PAR is more liquid than using Uniswap or Balancer.

Peg: today especially, many arbitrages helped PAR to trade close to the EURUSD price on Uniswap, leveraging the 2eur (PAR) pool.

$1.7M of volume for last month on Mt Pelerin
Jarvis Network 🧪🦇🔊
📢Last month, $1.7M of jFIATs have been on and off-ramped through @mtpelerin!

Some facts:
▫️ 3x more on-ramps than off-ramps
▫️ consistent and growing activity for $jSEK
The DeFi Basket router is now tracked
🧪 Synthereum
Data on Polygon
  • TVL: $7,038,454.93v ($6,717,362.01)
  • Market Cap: $6,223,400 ($5,998,564)
  • Volume: $212,092,663 ($211,889,902)
  • Swaps: 68,000 (67,849)
  • Users: 10,920 (10,920)
The current data does not fully take into account all the on-chain data related to the v2, like volume, swaps or users for example.
Data on BNB Chain
  • TVL: $714,886.41 ($709,289.68)
  • Market Cap: $687,528.97 ($677,640.39)
  • Volume: $6,704,109.82 ($6,391,330.07)
  • Swaps: 1,693 (1,631)
  • Users: 338 (331)
More data on our BNB Dune Analytics dashboard
  • We have finalized the JRT to JARVIS migration contract.
  • The work on optimising the Buyback module has started; these improvements are intended to avoid LP from exploiting the buy back programt.
  • We have started working on test deployment of Synthereum on RSK; on RSK we will be using API3 for the price feed.
📱 Apps
Liquidity app
We have finalized the major parts on the MultiLp dashboard, only adjustments and small fixes remain.
Onboarding app
We have launched a new version of the burner wallet in spanish, and using jMXN instead of jEUR.
🗳️ Governance
No new discussion last week.
  • p65: the governance has approved the seeding of the new Midas Capital jFIAT pool on Polygon. We will withdraw all the liquidity from Market and deposit it into Midas. The maximum amount of jFIAT that can be supplied is limited to 20% of the current circulating supply.
  • p25-1: the governance has approved the deployment of Synthereum v2 on Optimism and to provide liquidity there for jEUR.
  • p25-2: the governance has approved the usage of a leverage of 4 for the liquidity provision.
Did you enjoy this issue?
Weekly newsletter of Jarvis Network 🧪

Stable and liquid synthetic fiat currencies with a built-in #Forex swap feature.

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