Recapitulation of Juggernaut DeFi AMA event held at AMA LOVERS CLUB
Date: Thursday, 8th October, 2020
Time: 16:00 UTC
The Juggernaut DeFi team was represented by Mr. Nacho Llanillo. He judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you introduce yourself and your background? Also if you have any team members please introduce them.
Ans : Sure. My name is Nacho Llanillo, and I come from the south of Spain.
While I was studying at the Universidad de Málaga in Spain, I discovered Bitcoin and the blockchain space. I quickly fell in love with the transformative nature of cryptocurrencies and I started working with different global-leading crypto projects. I helped launch numerous blockchain projects, with a focus on marketing and social media. Most notably, I helped NuCypher and Skrumble Network.
I recently completed a program for how blockchain can be applied to business, because I’m really passionate about this technology. With almost 3 years of experience in the crypto space, I look at DeFi, and see the vast possibilities it can bring to very different businesses around the world.
I will be conducting the AMA alone, but I can introduce the other two co-founders:
Girish Kamsali, Cofounder — Blockchain Dev formerly of Dell EMC, and more.
Amarildo Caka, Cofounder — Blockchain evangelist since 2013. Investment, DeFi and staking specialist. Investor, dev and technologist. Based out of Athens, Greece. Cofounder, CEO Capitual, Co-founder AC Daxx.
Q2 : Can you introduce Juggernaut DeFi, what problems does it solve that existing solutions are not solving and what’s the utility of JGN and its overall competitve advantages?
Ans : Juggernaut is the first DeFi project that goes beyond the traditional finance industry, into everyday life. We believe DeFi can make a huge impact on different spaces, like communication, transport, or work. Simply recreating outdated financial models is not enough; there needs to be something else.
We are building a custom synthetic DeFi protocol and marketplace.
Allow myself to explain what I mean with “custom DeFi synthetics”
In the finance world, a synthetic asset is a financial instrument that simulates other instruments. It is called synthetic because it has been manufactured to represent an asset, without being the real asset.
Holding and trading synthetics have extra benefits, like easier access, storage, maintenance, etc.
When it comes to cryptocurrencies, synthetic assets offer the opportunity and potential of blockchain technology. There are many advantages of having an asset on-chain (ex. Easier to track & trade, programmable, unstoppable, etc.), and with the current DeFi movement and platforms, users could benefit from not having to rely on a third party and from the use of a decentralized protocol.
In terms of what we are solving and our competitive advantages:
JGN is designed to make DeFi synthetics simple and easy to use for any business use-case.
Juggernaut (JGN) is building the next generation of DeFi infrastructure. With our modular approach and custom framework, we can help businesses launch their own DeFi capabilities.
The JGN mission is to help anyone that thinks of a business idea to add customized DeFi into its components.
I hope this gives everyone a great quick understanding on what we are trying to accomplish :ok_hand:
Q3 : Can you briefly describe the Top milestones you have achieved and the future milestones you want to achieve with timelines? Also share your roadmap.
Ans : We recently have partnered with Gate to list on their platform. Gate is a great first step towards achieving our mission. We have created a synthetics and future NFT marketplace: JuggerSWAP.
We have plans to build and improve our tech: JuggerSWAP, synthetics, etc. We want to partner with different businesses to create sustainable business models.
You can take a look at our roadmap above
The biggest Milestone we plan to achieve is to partner with 10 different businesses to help integrate DeFi into their business model by the end of 2021.
2nd Segment: TWITTER QUESTIONS
Q1 : Why is Juggernaut the future of DeFi?
Ans : Only exchange tokens (a few of them) and DeFi have proven to be successful models in the crypto space. Utility tokens have been very fragile.
We created JGN to help anyone build and run a sustainable decentralized business model. We offer the opportunity to add DeFi capabilities to an existing or new business.
Decentralization will continue to be the essence of blockchain projects moving forward. With DeFi, there are a lot of new opportunities to explore. JGN is solving the problems for most token project, to help them build and run a sustainable business model.
Q2 : JGN Talks About Being The First To Implement Synthetic Assets In The Blockchain Market. Do you already have the patent for your JGN ‘j’ token project? Do you think that your joint project with SKM is your strongest point in the market?
Ans : We are not the first ones to implement Synthetic Assets on this space (Synthetix or UMA come to mind), but we are the first ones to look outside of pure financial industries and focus on other applications, like what we are doing with SKM on communication. Our focus on non-commodity markets is a good differentiation point as well.
I believe patents in this space are overrated. When you actually receive it the tech would have advanced so much that the patent would be obsolete.
I think our partnership with SKM is one of our strong points, yes
Q3 : What is minimal Amount of $JGN Needed to Start Satking. How to join the $JGN stake program and how long it will take for the stake and the dividends to be obtained?
Ans : There’s no minimum amount of JGN needed to participate on our yield farming offerings. You simply have to connect your wallet and follow the instructions
So far, we have conducted one batch of staking, and we are doing a second one.
Different staking programs
Q4 : Recently, we Heard That Some CEO Of Another Project stole large amounts of money From the investors. How secure and safe is Token Juggernaut Defi?
Ans : Unfortunately, things like this happen from time to time. Everything we do in regards to investors is legally binding, and our profiles are public for everyone to research and ask about.
We audit everything on the tech side, from our smart contract (that you can find in our website under resources) to our JuggerSWAP staking pools.
It’s such a shame that cases like this happen tbh. I would much rather have a crypto space that focuses on win-win situations, not trying to scam anyone
Q5 : Recently JGNDeFi announced a partnership with BitriseCapital, Why choose a partnership with BitriseCapital? What are the benefits of BitriseCapital? What do you want to build together?
Ans : Bitrise Capital is a well-known VC out of Asia, and they know a lot about the Asian market in crypto. The people running it are very smart, and have been around the crypto space for a while. They can help Juggernaut navigate the Asian crypto community, they know how everything works, and they provide awesome advice to us.
3rd Segment: LIVE QUESTIONS
Q1 : The only way to buy JGN is through Uniswap? What are the plans for future listings? Will it be only on Dexs?
Ans : Right now it’s available on Uniswap, but tomorrow we will conduct an IEO on Gate, and list shortly after 8 AM UTC :)
Q2 : On moving forward through your roadmap, what are your most important next priorities/Milestone? Does Your Project have enough fundamental (Funds, Community, ect) to achieve those milestones?
Ans : We are focusing right now on our Gate listing, improving JuggerSWAP, and exploring different usecases with new businesses, starting with SKM.
Yes, I believe we do have what it takes to achieve our mission! Yield Farming is going to be a great milestone for us in the next couple of weeks.
Our community is very important to us. We plan to have our community involved in our governance decisions. Our goal is that in the next 2–3 years, the whole project is decentralized.
Q3 : DeFi is one of the hottest topic in the blockchain space right now. Can $JGN share your opinions on DeFi with us?
Do you think that DeFi will disrupt the existing financial system?
Ans : I believe DeFi is hot because it works. Traditional financial models are outdated. They work well for the most part, of course, but the finance space is like a huge and enormous pile of technology built one on top of the other, with no order, so it’s very difficult to maintain. And the problem is not maintenance: as it’s huge and uncoordinated, changes are really slow, almost impossible to do. With DeFi, once something is created, it can be improved rather quickly, it can be monitored easily, and it eliminates the need for costly middlemen. I think we will start to see more and more people going from traditional finance to DeFi because it’s a really exciting space. Step by step, I think a lot of the finance space will be built new, instead of re-built, and different entities like banks will need to adapt. I see Juggernaut as the first step towards making DeFi accesible, and hopefully as a platform to build some cool stuff
Q4 : What are JGN Defi’s marketing plans to do to attract more users as well as investors in the upcoming time?
Ans : We are planning an aggresive yield farming program, as well as building a future NFT marketplace in JuggerSWAP. I believe Gate listing is going to be crucial looking forward, because it allows us to penetrate on the chinese market.
Q5 : Right now issuing a token is a rather simple process. However, building the system and ecosystem is the most difficult part. My question is, How will the demand of the token will increase and how will this token use within the ecosystem?
Ans : This is exactly what happened in 2018–2019. Every project wanted to build their own network, and so far very little have succeeded. We are building on top of Ethereum, because erc-20 is almost a standard now when it comes to tokens.
JGN is the main component of the Juggernaut ecosystem. It is used to mint synths (synthetic assets) in the JuggerSwap marketplace and acts as collateral to back them. It is used to provide liquidity to the marketplace and receive rewards in the form of inflation and fees.
Q6 : Where does the project name come from? What does it mean for you and why did you choose that name for your project?
Ans : Juggernaut, in english means “an unstopabble force”. The name takes inspiration from the character Juggernaut from the Marvel universe. When he starts running, there’s no wall that can stop him!
Q7 : Are you a global project or local project? Can anybody anywhere use Your project without any restrictions?
Ans : We are a global project. Our team members come from different places, like Canada, Spain or Greece, as well as our investors and business partners. We have received investments from funds located in Hong Kong, South Korea, Australia, etc.
Q8 : Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like your?
Ans : When we were looking at the crypto space, we felt like good business models were needed. Usual crypto projects don’t perform too well because utility tokens are hard to sustain. We are focused on non-commodity assets, with an emphasis on creating and sustaining different business use-cases.
Q9 : You guys are doing Ama’s in all group & almost answering same types of questions again n again? How do You feel about it?
Ans : This question is interesting! We are doing AMAs in different crypto groups and it’s true that some of them are very similar, but I’m never tired of answering questions about the project I’m creating. I want everyone to know about JGN, and this incentive system on AMAs I think works great. It’s a win win for everyone, because we get to share our mission & vision with communities around the crypto space.
Q10 : What is the long term vision of $JGN ?
Ans : To be the platform where individuals go when they want to implement DeFi into their existing business or need help with their new and exciting business model.
Q11 : In your roadmap you talked about “JuggerSwap”. I like to know what it will offer to us which is not offering by others?
Ans : JuggerSWAP is a synth and future NFT marketplace. Right now, users can participate in different Yield Farming options through JuggerSWAP.
JuggerSWAP will list many different types of assets. Users will be able to mint synthetic assets, trade NFTs and perform staking and locking on diverse projects.
In short, JuggerSWAP will be a place where many different users will be able to create synths for their business usecases and share them with the world. We will focus on NFT in the future, because we are building a DeFi ecosystem, so it makes sense that our marketplace offers a wide range of assets.
Q12 : Can I negotiate purchase price for $JGN Tokens with you?
Ans : :) :) :)
Q13 : Who is your competition? How can Juggernaut stay competitive while remaining profitable? What problems do you actually solve that other projects don’t?
Ans : Our main competitors are Synthetix, Abra, Market Protocol and UMA. We provide business DeFi and are focused on non-commodities (plus we have a smaller marketcap, so better chance to grow).
If you are interested in reading more about how we compare to other synthetic DeFi protocols, feel free to check this link: https://medium.com/juggernaut-defi/whats-unique-about-juggernaut-and-how-does-it-compare-to-other-defi-projects-9ac4f7cc540d
Q1 : Please @nachollanillo before Going could you feel free to drop every useful links to your project including partnership, Uniswap link and gate IEO link?
Ans : Of course! And don’t forget to join our telegram group here: https://t.me/JGNDeFi in order to claim your AMA rewards
For those new to JGN, below is a short overview with a few key highlights about Juggernaut (JGN) DeFi:
— The name is inspired by the X-Men character and the word means an unstoppable force.
⚒We are building the first DeFi synthetic derivative collateral pool for non commodity markets.
🧲Our first confirmed partner case study is with SKM, a top project on Huobi focused on the communication space. There will be more to come.
⛓ The JGN ‘j’ token series will be unique synthetic derivatives for specific business use cases. jSKM will be the first in the series.
— Target launch Q1 2021
🗝Unique staking and collateral mechanisms will be announced soon.
🦁First 1% of total 150m max supply of JGN will be released over the first couple of days. This is exclusive to Uniswap. Other tokens will be unlocked over the next couple of years. Detailed token release schedule coming soon
— Litepaper: https://jgndefi.com/wp-content/uploads/JGN-Litepaper_Aug13.pdf
Token distribution plan: https://jgndefi.com/wp-content/uploads/JGN-Token-Distribution_Aug26.pdf
— Twitter: https://mobile.twitter.com/JGNDeFi
Lastly, Uniswap links:
And Gate.io announcement of the IEO + listing: https://medium.com/juggernaut-defi/official-gate-io-ieo-and-listing-announcement-for-jgn-28690f3cf51e
Follow Juggernaut DeFi on the following platforms:
… Website: https://jgndefi.com
… Twitter: https://twitter.com/JGNDeFi
… Telegram Group: https://t.me/JGNDeFi
… Medium: https://medium.com/juggernaut-defi
… Github: https://github.com/JGNDeFi
… Resource Center: https://jgndefi.com/resources/
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