In simple terms, it’s a low-interest credit line for your debit card. You stake ETH, you borrow stablecoins against your ETH’s value, and you spend those stablecoins with your debit card.

However, while it might be described in simple terms, the story behind it isn’t so. David Young, CEO of Juniper commented:

Juniper is my fifth startup — prior to Juniper, I was VP Engineering at Omni (e-commerce on XRP) and then PointCard (tradfi, consumer debit and charge cards). At Omni I was first exposed to crypto, and after Coinbase acquired Omni in 2019, I wanted to do consumer fintech to learn more about how it worked. What I found shocked me: a system that rewards a select few while penalizing many, and the penalties last for years.

Juniper is a solution to a growing problem: our economy runs on credit, and credit is getting more and more expensive, as the US central bank continues to hike interest rates. As credit becomes more expensive, tradfi lenders become more selective. On top of that, add strict payment schedules, late fees, finance charges, and more. It’s never been harder for everyday people to meet their credit needs. Juniper CEO adds:

Credit can be difficult for people to obtain through no fault of their own, either by being young, being a recent immigrant, having a medical issue, or going through a divorce — the list of reasons for which the credit bureaus will downgrade you is endless. And even once you do qualify, credit card debt can be a very dangerous thing.

Just to put the problem into scope, according to the latest consumer debt data from the Federal Reserve Bank of New York, the USA’s credit card balance is over $1 trillion, being highest since New York started tracking in 1999.

Juniper focuses on solving problems that can happen to anyone. It doesn’t matter if you’re a seasoned investor or you’re just starting out, you probably want to hold on to your investment and not sell to meet unexpected expenses.

Juniper can allow you to hold on to your coins, while getting a credit line against them at better terms than credit cards, stock margin loans, home equity lines — Juniper’s rates are lower than nearly every other kind of credit. How is this possible?

With Juniper, you use the yield generated by staking Ethereum to offset the cost of borrowing stablecoins. Because Juniper credit lines are overcollateralized (meaning you have more in staked assets than you have in debt), in many cases, your Ethereum generates more yield than your debt costs to service.

Juniper is launching in Q4, 2023. We hope you’re as excited as us.

Juniper CEO commented.

Are you nervous about the launch or do you feel confident about it?

Been working on this for more than a year, and there are a lot of challenges to make sure the system is safe, secure, easy to use, and compliant with regulations. We’re confident that we’ve gotten the details right but one always thinks about the things we didn’t think.

Why now?

Flat crypto prices, make it hard to hold on to your investment. Everyone thinks they’ll be able to get back in before the next bull market but few actually can. Also, high-interest rates trap people in debt and force businesses to close..

While you’re waiting for the launch of Juniper, get your place among the leaderboard or try your luck to get prizes worth up to $500 ETH.

We even offer prizes for talking on our Discord, would be a shame to miss out!

Join here: https://gleam.io/winhi/juniper-launch-competition-round-1

Deadline: 09/28/2023

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