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...
Stable and liquid synthetic fiat currencies powered by an on-chain Forex market. DeFi overtaking TradFi: 0% 🟩🟩🟩🟩🟩🟩⬛⬛⬛ 100%
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jEUR lending market on Morpho on Base
New jEUR-EURC pool on Aerodrome on Base
New JARVIS pool on Base and BNB Chain
~20 to ~30% APY real yield on USDC and WXDAI
Discussion on improving the Jarivs’ flywheels
Liquidity Pools interest split upgrade
Following the shutting down of jEUR Credit Lines, we have deployed two markets on Morpho on Base, the WSTETH-jEUR and USDC-jEUR markets, allowing to borrow jEUR there. Then, from Base, users can bridge jEUR on any other chains.
More collateral will be added, especially productive assets such as yield-bearing stablecoins (USD, EUR) and RWA, but also other jFIATs, WBTC, WETH, and even stJARVIS, when this will be possible (the liquidity of JARVIS should be higher, and currently sits at $1.5M on Base, and an reliable oracle should be deployed).
Together with Gnosis Chain, Base is becoming our main chain, from where most of the features
These lending markets will also help with re-collateralizing jEUR and jCHF on Polygon, by allowing users to purchase depegged jCHF and jEUR on Polygon, and deposit them in the the money market on Base, to be borrowed (and therefore collateralized).
A new jEUR-EURC pool is now live on Aerodrome.
A new JARVIS-WSTETH pool on Aerodrome (BASE) and JARVIS-ETH pool on Thena (BSC) have been deployed with their respective gauge.
We keep updating the LP Vaults and the Liquidity Pools. We have now completed the updates on Avalanche, Base, Arbitrum, Gnosis and Optimism.
As a result of these updates, the yield on the Vaults have increased a lot! 28% APY on WXDAI on Gnosis, or 19% APY on USDC on Base. Remember that when you deposit WXDAI or USDC in these vaults, you are long USD and short EUR, and may lose money if EURUSD goes up.
*
While we had completed the calculation of Trading Fees APR, the update of the pools and of the vaults requires from us to update our code there. As a result, only the Interests APY is currently being displayed.
We have started working on the Morpho market integration within our app, in order to borrow jEUR on Base.
We will start working on the “Earn” page of the app, where users will be able to see all the yield opportunities for jFIATs, USDC and XDAI within the protocol, and outside of the protocols.
Preliminary talk: we have started discussing two new systems to allow for a better yield for JARVIS and jFIATs, and to get rid of the non-bribers LP, as well as a system to delegate JARVIS to the DAO to generate yield.
No new proposal.
jEUR lending market on Morpho on Base
New jEUR-EURC pool on Aerodrome on Base
New JARVIS pool on Base and BNB Chain
~20 to ~30% APY real yield on USDC and WXDAI
Discussion on improving the Jarivs’ flywheels
Liquidity Pools interest split upgrade
Following the shutting down of jEUR Credit Lines, we have deployed two markets on Morpho on Base, the WSTETH-jEUR and USDC-jEUR markets, allowing to borrow jEUR there. Then, from Base, users can bridge jEUR on any other chains.
More collateral will be added, especially productive assets such as yield-bearing stablecoins (USD, EUR) and RWA, but also other jFIATs, WBTC, WETH, and even stJARVIS, when this will be possible (the liquidity of JARVIS should be higher, and currently sits at $1.5M on Base, and an reliable oracle should be deployed).
Together with Gnosis Chain, Base is becoming our main chain, from where most of the features
These lending markets will also help with re-collateralizing jEUR and jCHF on Polygon, by allowing users to purchase depegged jCHF and jEUR on Polygon, and deposit them in the the money market on Base, to be borrowed (and therefore collateralized).
A new jEUR-EURC pool is now live on Aerodrome.
A new JARVIS-WSTETH pool on Aerodrome (BASE) and JARVIS-ETH pool on Thena (BSC) have been deployed with their respective gauge.
We keep updating the LP Vaults and the Liquidity Pools. We have now completed the updates on Avalanche, Base, Arbitrum, Gnosis and Optimism.
As a result of these updates, the yield on the Vaults have increased a lot! 28% APY on WXDAI on Gnosis, or 19% APY on USDC on Base. Remember that when you deposit WXDAI or USDC in these vaults, you are long USD and short EUR, and may lose money if EURUSD goes up.
*
While we had completed the calculation of Trading Fees APR, the update of the pools and of the vaults requires from us to update our code there. As a result, only the Interests APY is currently being displayed.
We have started working on the Morpho market integration within our app, in order to borrow jEUR on Base.
We will start working on the “Earn” page of the app, where users will be able to see all the yield opportunities for jFIATs, USDC and XDAI within the protocol, and outside of the protocols.
Preliminary talk: we have started discussing two new systems to allow for a better yield for JARVIS and jFIATs, and to get rid of the non-bribers LP, as well as a system to delegate JARVIS to the DAO to generate yield.
No new proposal.
No activity yet