heading into arbi feels like you are entering a jungle
what better project to start researchoooring than @Jungle_Fi
Jungle is aiming to be an open derivatives protocol on Arbi and zkSync
come, let Linn be your Jungle guide (watch your feet mind the snakes) 👇
what better project to start researchoooring than @Jungle_Fi
Jungle is aiming to be an open derivatives protocol on Arbi and zkSync
come, let Linn be your Jungle guide (watch your feet mind the snakes) 👇
@Jungle_Fi aiming to be simplified version of a Synthetix, focusing on the global debt book all with zero coding knowledge needed (linn is practically all zero knowledge…pure linntuition)
users benefit from price movements in assets of any kind created through synthetic assets
users benefit from price movements in assets of any kind created through synthetic assets
only asset not available for creation is linntuition ⟨™⟩
So how could you make profit?
borrow JUSD (pegged to USDC) via depositing crypto
or
by buying JUSD on curve, uni etc (part of future plans by da jungle)
e.g you put 1000 JUSD into debt pool then buy JETH
So how could you make profit?
borrow JUSD (pegged to USDC) via depositing crypto
or
by buying JUSD on curve, uni etc (part of future plans by da jungle)
e.g you put 1000 JUSD into debt pool then buy JETH
If JETH go up 100%
your synth value is 1000 (JUSD) * 200% = 2000
now little more maths
Debt Ratio = Initial Personal Debt / Initial Network Debt
total liquid debt held =
Personal Liquid Debt (B) = Debt Ratio (B) * Network Liquid Debt = 50% * (1500 + 2000) = 1750.
your synth value is 1000 (JUSD) * 200% = 2000
now little more maths
Debt Ratio = Initial Personal Debt / Initial Network Debt
total liquid debt held =
Personal Liquid Debt (B) = Debt Ratio (B) * Network Liquid Debt = 50% * (1500 + 2000) = 1750.
synth value is 2000.
easy maths: 2000-1750
profit of $250
jungle also has a multi-debt book system
ex: a defi tokens debt book with JUNI, JAAVE, JLINK or
nft debt book with JAPE, JGALA, and JAXS
when price of synth changes it only affects that book
easy maths: 2000-1750
profit of $250
jungle also has a multi-debt book system
ex: a defi tokens debt book with JUNI, JAAVE, JLINK or
nft debt book with JAPE, JGALA, and JAXS
when price of synth changes it only affects that book
each debt book is independent from the other
debt is only generated when user enters the debt book market
you can stake USDC and borrow JUSD and not incur debt
can also use JUSD in yield farm and earn sweet yield
only when user puts JUSD into debt pool is debt made
debt is only generated when user enters the debt book market
you can stake USDC and borrow JUSD and not incur debt
can also use JUSD in yield farm and earn sweet yield
only when user puts JUSD into debt pool is debt made
then can result in profit or loss
in Jungle protocol each debt book serves as an independent derivatives trading market
each debt book has a multitude of parameters, including asset type, transaction fees, fee allocation mechanisms
in Jungle protocol each debt book serves as an independent derivatives trading market
each debt book has a multitude of parameters, including asset type, transaction fees, fee allocation mechanisms
this is where JUNT token comes into play and why the DAO is a thing
each user can pledge JUNT token to certain debt book minting gov tokens specifically for that debt book
longer the lock up, more gov tokens acquired
2 different gov scenarios are available for veJUNT holders:
each user can pledge JUNT token to certain debt book minting gov tokens specifically for that debt book
longer the lock up, more gov tokens acquired
2 different gov scenarios are available for veJUNT holders:
1. dividends from the derivatives trading market, ie transaction fees; earnt by staking veJUNT
2. Voting to decide on the addition/removal of asset types in a derivatives trading market, fee rates and other parameters.
users can also create debt books
2. Voting to decide on the addition/removal of asset types in a derivatives trading market, fee rates and other parameters.
users can also create debt books
cool tech would be to create index like 50% ETH, 50% BTC
creator of debt book continuously receives a portion of the transaction fees generated by it
be the first to create useful book, reap dividends forevers
creator of debt book continuously receives a portion of the transaction fees generated by it
be the first to create useful book, reap dividends forevers
but there is a catch:
once a new debt book is created, it must be voted in
users vote with their JUNT by locking them and Jungle will record how many veJUNT tokens to-be-received by the users
If the “to-be-received” veJUNT tokens exceed a certain threshold the vote will pass
once a new debt book is created, it must be voted in
users vote with their JUNT by locking them and Jungle will record how many veJUNT tokens to-be-received by the users
If the “to-be-received” veJUNT tokens exceed a certain threshold the vote will pass
the debt book will then be published, and the voters will receive the corresponding veJNT tokens for that debt book
if no and the vote doesn’t pass, the debt book will not be published, and the voter will receive the JUNT tokens previously pledged
if no and the vote doesn’t pass, the debt book will not be published, and the voter will receive the JUNT tokens previously pledged
these "voters" also receive a higher weight in the allocation of the DAO fees for this book as well, if the vote passes ofc
however first 10 debt books Jungle retains the right to release and will not be voted on. thus directly released by the team
however first 10 debt books Jungle retains the right to release and will not be voted on. thus directly released by the team
Jungle looks to be building interesting things for the future as well
current roadmap:
current roadmap:
here’s a more in-depth version:
This is a promotional post for Jungle.
Linn will use the proceeds to buy things and do things with those things and then realize that every thing you own ends up owning you.
Linn will use the proceeds to buy things and do things with those things and then realize that every thing you own ends up owning you.
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