Jarvis Network 🧪🦇🔊Removing, and looking past the bad debt
Last week, an attacker exploited Midas Capital on Polygon and stole 368k jEUR, 237k jCHF, and 45k jGBP (see the details), leaving Synthereum with a bad debt. We have developed a plan to address this issue by diluting, acquiring, and repaying the bad debt.TLDR:The protocol has inherited a bad debt of 368k jEUR, 237k jCHF, and 45k jGBP on Polygon (other jFIATs and other networks are not impacted).Jarvis Network and Jarvis LTD will commit funds and allocate a portion of their revenue towards acq...
![Cover image for Jarvis bi-weekly issue [13]](https://img.paragraph.com/cdn-cgi/image/format=auto,width=3840,quality=85/https://storage.googleapis.com/papyrus_images/ad26de7c2ce5f2d2e7c79707c7e509308dce76894564d3102f598b83010101ea.jpg)
Jarvis Network 🧪🦇🔊Jarvis bi-weekly issue [13]
⏩ TLDRJuicy USDC yield for LPsSmall Cascade Protocol “overview”Building a position on QUOLLNew discussion to seed Morpho markets.New discussion to optimize the treasury.🗞️ Quick newsJuicy USDC yield for LPshttps://x.com/Jarvis_Network/status/1848764877172543574Some updates from the Cascade Protocolhttps://x.com/CascadeProtocol/status/1851997162562801763Jarvis LTD building a position in QUOLLhttps://x.com/Jarvis_Network/status/1852018498249118010🧪 ProtocolWe have finished updating all the LP...
![Cover image for Jarvis bi-weekly issue [6]](https://img.paragraph.com/cdn-cgi/image/format=auto,width=3840,quality=85/https://storage.googleapis.com/papyrus_images/a77f2376630e9d175d1faa7aea2b745ed8af8d7fb8d0dbb324a7ca9dd0408681.jpg)
Jarvis Network 🧪🦇🔊Jarvis bi-weekly issue [6]
⏩ TLDRstJARVIS updated.Cascade Protocol infrastructure.🗞️ Quick newsYield this weekhttps://twitter.com/Jarvis_Network/status/1758490188647424098🧪 ProtocolWe have completed the upgrade of the stJARVIS/veJARVIS code to solve one issue with some liquidity pools like Balancer. The code has already been reviewed and tested.We have now completely shifted our ressources towards Cascade Protocol. The infrastructure to support the MVP is currently being developped.📱 ApplicationWe have started worki...
Stable and liquid synthetic fiat currencies powered by an on-chain Forex market. DeFi overtaking TradFi: 0% 🟩🟩🟩🟩🟩🟩⬛⬛⬛ 100%
Jarvis Network 🧪🦇🔊Removing, and looking past the bad debt
Last week, an attacker exploited Midas Capital on Polygon and stole 368k jEUR, 237k jCHF, and 45k jGBP (see the details), leaving Synthereum with a bad debt. We have developed a plan to address this issue by diluting, acquiring, and repaying the bad debt.TLDR:The protocol has inherited a bad debt of 368k jEUR, 237k jCHF, and 45k jGBP on Polygon (other jFIATs and other networks are not impacted).Jarvis Network and Jarvis LTD will commit funds and allocate a portion of their revenue towards acq...
Jarvis Network 🧪🦇🔊Jarvis bi-weekly issue [13]
⏩ TLDRJuicy USDC yield for LPsSmall Cascade Protocol “overview”Building a position on QUOLLNew discussion to seed Morpho markets.New discussion to optimize the treasury.🗞️ Quick newsJuicy USDC yield for LPshttps://x.com/Jarvis_Network/status/1848764877172543574Some updates from the Cascade Protocolhttps://x.com/CascadeProtocol/status/1851997162562801763Jarvis LTD building a position in QUOLLhttps://x.com/Jarvis_Network/status/1852018498249118010🧪 ProtocolWe have finished updating all the LP...
Jarvis Network 🧪🦇🔊Jarvis bi-weekly issue [6]
⏩ TLDRstJARVIS updated.Cascade Protocol infrastructure.🗞️ Quick newsYield this weekhttps://twitter.com/Jarvis_Network/status/1758490188647424098🧪 ProtocolWe have completed the upgrade of the stJARVIS/veJARVIS code to solve one issue with some liquidity pools like Balancer. The code has already been reviewed and tested.We have now completely shifted our ressources towards Cascade Protocol. The infrastructure to support the MVP is currently being developped.📱 ApplicationWe have started worki...
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Stable and liquid synthetic fiat currencies powered by an on-chain Forex market. DeFi overtaking TradFi: 0% 🟩🟩🟩🟩🟩🟩⬛⬛⬛ 100%
Synthereum V2 infrastructure on Base.
Discussion to replace the Credit Lines by a Money Market
Arbitrum CCIP Bridge UI integration.
For the past two weeks, we only have worked on the Cascade protocol. We have completed the “LP token wrappers” module and we are now working on the first iteration of the “yield distribution module”.
We have integrated the Arbitrum CCIP Bridge.
We have completed the calculation of the APR for the liquidity providers.
JIP 5: shutting down the Credit Line and replace them with a Money Market on Base. The shutting down of the Credit Line will remove the selling pressure on the jFIATs, helping them getting back closer to their peg, and bringing back liquidity on the primary market. The launch of a Money Market will allow a better management of the loans and selling pressure.
No new vote.
Synthereum V2 infrastructure on Base.
Discussion to replace the Credit Lines by a Money Market
Arbitrum CCIP Bridge UI integration.
For the past two weeks, we only have worked on the Cascade protocol. We have completed the “LP token wrappers” module and we are now working on the first iteration of the “yield distribution module”.
We have integrated the Arbitrum CCIP Bridge.
We have completed the calculation of the APR for the liquidity providers.
JIP 5: shutting down the Credit Line and replace them with a Money Market on Base. The shutting down of the Credit Line will remove the selling pressure on the jFIATs, helping them getting back closer to their peg, and bringing back liquidity on the primary market. The launch of a Money Market will allow a better management of the loans and selling pressure.
No new vote.
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