At the moment, the cryptocurrency market is experiencing very difficult times, and such projects are losing relevance. But I believe that this project can survive.
Well volume are still the same; and cryptocurrency is nothing but an asset. The biggest mistake has been to feed this frenzy by listing token before they have any kinf of utility... It should be forbidden to list any token which does not have a working product. Market now will survive, it is just a bear market; it happens everytime, on any market, and will keep happening. The bad thing here is that a lot of people has been scammed/robbed/ or just lost their money and savings. But it does not change anything, our project does not rely on crypto to succeed. |
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Therefore, maybe the truth is in the middle : to always have two tokens, one for staking/dividend, and one for utility. There is a VERY interesting one, one of our advisors work on. http://wetonomy.com/ and the concept of debt token is very promising to me. An interesting mix could be : you could sell an utility token (to pay fees); for each utility token bought, you send as well 7, 10 or 20 times more "debt token". You buy back debt token with your profit so contributors receive somehow a dividend until they run out of token, and they still have a utility token. I have never seriously considered debt tokens. Debt was the reason for the financial crisis and likewise the reason for creating Bitcoin. Even if there would be a debt token that entitles the owner to receive utility tokens or security tokens, how can you really trust you get repaid? A smart contract linked to the company's treasury? That only works if the treasury is actually worth something. There must be some collateral in play here othrwise, like you say nobody would pay back the debt contacted So the idea of debt token I was mentionning is not based on a collateral; maybe the name is confusing. It is just mean: this debt token will be bought back with the profit/revenue of the company; so it is a basic buy back program, but limitated in the time. |
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The idea of the project is great, but the submission is rather sketchy. Especially the mandatory KYC also reduces the attractiveness of the project. Hopefully these two things will be fixed soon.
KYC is mandatory for the ICO; not for the exchange as soon as you use it in a semi-decentralized way and trading only crypto assets. I think you guys should state this explicitly as people like me don't want to go through the KYC process on an exchange. You dont need to make a KYC for using semi-decentralized exchange. but, how if we make deposit more than $10k? some centralized exchange didn't ask kyc if we not make deposit less than $10k. and, if jarvis serve fiat gateway, i think kyc is required for who want deposit through fiat gateway. Well, I know that not all the exchange applies KYC/AML measure; but they take a risk doing so. But of course it depends the country where you are. |
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The idea of the project is great, but the submission is rather sketchy. Especially the mandatory KYC also reduces the attractiveness of the project. Hopefully these two things will be fixed soon.
KYC is mandatory for the ICO; not for the exchange as soon as you use it in a semi-decentralized way and trading only crypto assets. I think you guys should state this explicitly as people like me don't want to go through the KYC process on an exchange. We could highlight it more (it is said in the WP: user can use the exchange in a centralized or decentralized way, with, or without KYC; but without KYC it closes the door to many cool feature such as Fx, stocks, payment, some lending options, etc.). Therefore Jarvis can be used in a total anonymous way, but only with crypto and Dapps that does not require any KYC. I am personnally shared: while I love do not pass KYC, I also love Fx trading... so I will be forced to go through  But you mention something very important: we should highlight it WAY MORE so we do not lose potential users Thanks a lot for your feedback. On a side note, may I ask you why it is so important for you? And why you wouldn't want to go through a KYC procedure? i think some people don't want the kyc procedure because they just don't want to submit their docs or they simply don't want others know their financial transactions. however, if you are dealing with cryptocurrency and wanted to exchange in your fiat money, most of those local exchanges require kyc, at least the minimum requirement is your valid photo. so there's really no escaping of this kyc thing if you're in crypto for so long already. True; you can go from the "fiat" world to the crytpo one without KYC (selling service paid in BTC, or mining, or selling your stuff against crypto in a market place allowing that) but you cannot exit crypto to go in fiat without KYC; or at least not in most of the country. So let say you become "millionaire in usd" by trading/investing in crypto on a decentralized exchange; how do you enjoy your money in the real life? |
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Giving name will be losing our competitive edge at the moment Hope you understand. You have competitors already? Which ones? I didnt see exchanges where crypto trading with shares. I just see exchange with deriatives (like Fota for example)  Everyone can be a competitor. Or a partner. But it is better to do not share some secret recipe. As example the exchange in your signature, or Ternion, etc. But even if someone knows how to do it that does not mean they wil do it. Most exchanges are here to take a piece of the cake. So they just deliver a working service, a working product, and then heavily invest in marketing to acquire market shares; this is how it works in the retail brokerage industry too. And it works! So why should exchanges / brokers should bother themselves to rethink UI, UX, and value proposition since they can make a bunch of money reusing what currently exists ? There are company everywhere offering whitelabel of exchanges. This is why we are different We are here to really make a change, and to really have an impact, this is why we have started Jarvis. Not to add another exchange to the stack. So even if other exchanges could add CFD, stocks and so on, maybe they will not do it, or maybe they will, but it will not make a difference. If you take people who are not here to change things, or are not willing to shake things, but just see building an exchange as a business opportunity, they will succeed, get rich, but that's all. We are here to change things! You right, there are always competitors even if they don't have crypto/stocks pairs, they can copy UI, trading engine, copy the UX and so on (even how the customer service is delivered) Yes they can; but there is something they cannot : have your ideas before you implement them. Look at Robinhood. Now everyone is copying them. Cobinhood, Revolut, etc. Will they succeed ? Maybe. But you generated value the first? Robinhood. Also, you can copy UI and UX, but you can't copy a spirit, or an experience. And trust me, brokers and exchanges do not care about UI/UX because they do not value it. In the brokerage world you have as example Pro Realtime: fantastic features, superb experience. Who copied them to integrate their idea or experience in their platform? 0 broker... they have all adopted MT4, the most awful and less user-focus platform ever. Why? Well because it is platform that does not help users, and makes broker win a lot. Binance, they have a huge amount of money. Did they try to change their UI/UX ? No... is it a good one... well not for me... there is way better. Kraken... the deposit/withdraw requires so many clicks and is so non logic... but they keep not improving it. When I started trading on Bittrex on march 2017, the portfolio/wallet value was only displayed in BTC... I had to use my calculator everyday to know how much I had in dollar... They changed it in July or august.... why wait all this time? |
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Therefore, maybe the truth is in the middle : to always have two tokens, one for staking/dividend, and one for utility. There is a VERY interesting one, one of our advisors work on. http://wetonomy.com/ and the concept of debt token is very promising to me. An interesting mix could be : you could sell an utility token (to pay fees); for each utility token bought, you send as well 7, 10 or 20 times more "debt token". You buy back debt token with your profit so contributors receive somehow a dividend until they run out of token, and they still have a utility token. I have never seriously considered debt tokens. Debt was the reason for the financial crisis and likewise the reason for creating Bitcoin. Even if there would be a debt token that entitles the owner to receive utility tokens or security tokens, how can you really trust you get repaid? A smart contract linked to the company's treasury? That only works if the treasury is actually worth something. Well it is basically a buy back program like a lot of companies are doing; but instead of buying back the token itself, you buy back another token which has been distributed at the same time as the other token. Everything is managed through smartcontract of course. |
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Considering that the market is down now and the selectivity of projects by investors has increased, we can consider Jarvis a project of extreme potential, raising 1.2m in its beginning is a feat and so much now
You are right, for most ICO projects now there is no choice - they can only postpone tokensale for an indefinite period before the time when everything stabilizes. is true with the market under these conditions many ico will have only one choice to postpone or extend the fundraising period, but i think this will not be the case of jarvis because investors know how to recognize a winning idea and they invest on it also in these bad market conditions, and this is a winning project in my opinion, i hope the team will be able to complete it... I am agree with you; we receive everyday positive signal from people willing to contribute. But you need to reach out these person. And that is more complicated at the moment. |
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Considering that the market is down now and the selectivity of projects by investors has increased, we can consider Jarvis a project of extreme potential, raising 1.2m in its beginning is a feat and so much now
You are right, for most ICO projects now there is no choice - they can only postpone tokensale for an indefinite period before the time when everything stabilizes. The projects themselves are to blame. The amount of scam is growing at a tremendous pace, investors do not want to lose their money and do not risk investing in most projects. True. Raise of Eth > raise of ICO > raise of Scam > raise of disappointment. For me there were two bubble, the BTC and the ICO one; didn't know which one will burst the first. Well, both did it It is pretty bad because we started our project in 2017, before the ICO bubble; and when we found out that you can raise funds through a community that believes in you, that will be your users basically, and that everyone can do it, then I started dreaming big. We didn't want to make an ICO because the project was not mature enough and we didn't want to have a end product different from the WP. It was maybe a mistake, because now we have a very good project, but the market conditions are not helping us This is why we planned on an airdrop, to share our project, and raise the awereness of Jarvis; this is also why we didn't want to postpone our ICO, because we will launch our project doesn't matter what happen; but we have divided the ICO into two to maximize our change to raise enough for the project to be run for few years even if, for a reason or another one, we do not make profit the first year. |
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but, how if we make deposit more than $10k? some centralized exchange didn't ask kyc if we not make deposit less than $10k.
and, if jarvis serve fiat gateway, i think kyc is required for who want deposit through fiat gateway.
Isn't it also necessary to have your users to do KYC when the exchange wants to operate in the United States? DEFINITELY !  unless you are a real decentralized exchange; when I mean decentralized I mean almost does not exist : I mean an exchange with no team, no owner, just an open public code on github, run on masternode over the world, or even better, by users. When we started Jarvis we went on the possibility to make EVERY users a node; if you constantly have 100 000 users connected, then it might be an interesting setup; but it would slow down some uers device so... maybe not scalable. But a solution close to that, so fully decentralized, own and managed by users, with no profit and only a circular economy, might not require a KYC, even in USA |
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The idea of the project is great, but the submission is rather sketchy. Especially the mandatory KYC also reduces the attractiveness of the project. Hopefully these two things will be fixed soon.
KYC is mandatory for the ICO; not for the exchange as soon as you use it in a semi-decentralized way and trading only crypto assets. I think you guys should state this explicitly as people like me don't want to go through the KYC process on an exchange. We could highlight it more (it is said in the WP: user can use the exchange in a centralized or decentralized way, with, or without KYC; but without KYC it closes the door to many cool feature such as Fx, stocks, payment, some lending options, etc.). Therefore Jarvis can be used in a total anonymous way, but only with crypto and Dapps that does not require any KYC. I am personnally shared: while I love do not pass KYC, I also love Fx trading... so I will be forced to go through But you mention something very important: we should highlight it WAY MORE so we do not lose potential users Thanks a lot for your feedback. On a side note, may I ask you why it is so important for you? And why you wouldn't want to go through a KYC procedure? |
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Giving name will be losing our competitive edge at the moment Hope you understand. You have competitors already? Which ones? I didnt see exchanges where crypto trading with shares. I just see exchange with deriatives (like Fota for example) Everyone can be a competitor. Or a partner. But it is better to do not share some secret recipe. As example the exchange in your signature, or Ternion, etc. But even if someone knows how to do it that does not mean they wil do it. Most exchanges are here to take a piece of the cake. So they just deliver a working service, a working product, and then heavily invest in marketing to acquire market shares; this is how it works in the retail brokerage industry too. And it works! So why should exchanges / brokers should bother themselves to rethink UI, UX, and value proposition since they can make a bunch of money reusing what currently exists ? There are company everywhere offering whitelabel of exchanges. This is why we are different We are here to really make a change, and to really have an impact, this is why we have started Jarvis. Not to add another exchange to the stack. So even if other exchanges could add CFD, stocks and so on, maybe they will not do it, or maybe they will, but it will not make a difference. If you take people who are not here to change things, or are not willing to shake things, but just see building an exchange as a business opportunity, they will succeed, get rich, but that's all. We are here to change things! |
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The idea of the project is great, but the submission is rather sketchy. Especially the mandatory KYC also reduces the attractiveness of the project. Hopefully these two things will be fixed soon.
KYC is mandatory for the ICO; not for the exchange as soon as you use it in a semi-decentralized way and trading only crypto assets. |
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Hello, I see that you have a buyback program, could you please tell me how this program will work? And also how much is your softcap?
Hello! So there will be two programs: one to refill the strategic funds, and one for destroying tokens. Destroying token is to reduce the total supply; it will be done with not more than 5% of the profits, and not more than 3% of the token per year. It will increase the revenue per token; refill the strategic fund will help the fund tokeep distribute token to partners, influencers etc. Still, can you tell us what are your soft cap and hard cap and at what stage you are now in terms of money raised. The success of any project starts from the funds collected, right? Sorry I missed the question. 1.22M has been raised so far (so 5% already). There is no soft cap, we will do the project in any case scenario, we have already done a good 60%; the hard cap is 21M. This money will mainly be used for liquidity and licenses. The project is viable if 500M are raised, but in that case we will not have enough cash to setup our own liquidity pool and will have to rely on partners liquidity; so this could reduce the profit on the short term. |
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How will you tackle the current dumping of the crypto market?
It's not looking very good and i'd like to know if the plans will change or not?
So regarding the ICO : yes, let's be honest, we couldn't have chosen a worst period. We do rely a lot of private sale contribution and fiat contribution to compensate the market behaviour. And if the ICO is not a success, it means there will be less token; so less token = more revenue per token, and a bigger room for increasing its valuation. So it will not be a very bad news for our token holder as example. Then regarding the project : crypto are going down (and for me it is good, it was insane the level of valuation of 99% of the crypto/tokens) but if you notice, volume doesn't get lower. They are quite stable. And they will increase. You have to notice that a bubble market is not safe, is not normal. It is made by holder, not by traders, so if you do participate in an exchange and the token derive value from the usage of the exchange, you might prefer if the volume increase; if crypto become more stable, at lower price, this could increase the exchange/trading volumes so it is actually very good for exchanges. Also, note that our project does not rely on crypto valuation to succeed; but crypto usage, and the use of decentralized approach in our design. Trading Fx, trading CFDs, in a decentralized world, Volume is going up in the last week, there was a time when it went down to almost $9B, today it's $24B (even if it's selling volume unfortunally) And 9B a day is still very awesome! Today, if Jarvis would have caught 0.1% of the global volume according to CMC (so not all the exchanges, not all the volume) with a fee of 0.2%, it would have generated 48 338 USD today. So if we raise 5M USD, with the token burnt it will remain something like 200M tokens. So each token holder would have received 4.8 USD for each 100 000 tokens today + 3.4 USD for each 100 000 tokens for the ICO participants. Then it is all about market shares. For info, 0.1% of the volume means today between the 60th and 65th exchange according to CMC... so I think it is pretty doable. 1% would mean to be between the 22nd and 25th exchange. |
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Hello, I see that you have a buyback program, could you please tell me how this program will work? And also how much is your softcap?
Hello! So there will be two programs: one to refill the strategic funds, and one for destroying tokens. Destroying token is to reduce the total supply; it will be done with not more than 5% of the profits, and not more than 3% of the token per year. It will increase the revenue per token; refill the strategic fund will help the fund tokeep distribute token to partners, influencers etc. |
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when you mentioned "Jarvis card" is it something like a debit or credit cards where a user can withdraw funds from an ATM or spend for online transactions?
As soon as Visa and MasterCard keep allowing to work with crypto related business, yes, it will. The main problem for Visa/Mastercard is the KYC/AML; they do not feel any threat from crypto, but they do not want to take the risk of supporting it. So strong KYC/AML has to be taken in place to provide such services. Alternatively, we have some plan B if a world ban happen on crypto card. As far as I know, monaco has already started to deliver the VISA cards to their customers in Singapore so, it should not be an issue. Also, I research on the alternates while I was working on a project of my own and there are plenty of them out which a few are very good. So we just need to hope that Visa and Mastercard keep provide this; my concerns is that these companies need a very strict KYC/AML to limitate the risk. |
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Ur will offer so many different functions on your exchange and it seems like ur trying to merge multiple exchanges in one. From what i am reading, he already have everything planed, even plan B. I really hope you wont be understaffed at the end and will manage to handle all functions that you planned.
People are lazy and if there was one exchange where you can do everything and it has a convenient interface this exchange could be big. It is not about being lazy, it is being user-centric; I am not lazy, but you cannot imagine who does look like my smartphone... I have Revolut (banking) and Phyre (NFC payment); I have Wirex and TenX. I have Binance, shapeshift, Trust Wallet and Status. I have IG (broker); I like all the value proposition of all these apps. But damn... my money is scattered everywhere! And my apps are not interoperable. We are capable of sending people on the Moon, but we cannot acces a Dapp through my Binance wallet. We are making plan flying, but I cannot trade CFD on IG using my revolut account... It is not being lazy! Aggregator has always been something that people want, because people want convenience. |
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I don't like it neither; I am more a very strong advocate of decentralization and freedom, but let's be realistic, with these government... we need to make a choice: we do want adoption of the technology or to stay in an utopia?
But anyway, the best feature for me is NFC, so you can pay with fiat or crypto through the NFC feature of your phone.
It's indeed something that has been around enough and start to be used as well for payments in general, plus people may not care in the end if the payment is processed with crypto or fiat. It could work. eventually the fiat system will collapse and that's when crypto will be worth a lot. but until then it's important for us to build infrastructure. I do not think fiat could collapse; there is something that we do not have to forget: to put our love for crypto aside to remain neutral. So, fiat are used to pay taxes, gas, houses, etc. I prefer to say there is two bright future for finance: one being centralized, digitalized, centered around legacy actor, and an alternative one, decentralized, tokenized, and centered around the user. We do work on the second one. |
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Here is the thing, as explained in the WP; tokenization is not yet scalable; for tokenizing an asset you need first a third party to hold the real asset, and to create a token on the top of it. Another solution is the mirroring; you are mirroring real position taken on the market; so actually when you buy stocks using Jarvis, you are taking a position on the market, and this position is mirrored in your wallet.
For that, you only need a brokerage license.
And you have access to a larger liquidity since you connect to the market.
As the position is mirrored, it becomes a digital asset (the position, not the stock); but for the end user it is the same: they hold the digital image of the stock, or of the gold, or of any contract.
This is also why we do need the centralized part of the exchange, to access these markets legally.
Thanks a lot for your responds. Really like it when someone of the team is so active in the thread. Hope you guys can keep this going. So the users who bought stocks with Jarvis will also benefit and get dividends from the stocks? Really hope you guys can achieve al this! This project can really be a new step So at the beginning, we will use CFDs, to show that the demand is here, to show the value behind this; as soon as we can, we will move to real stocks. But it will be faster and cheaper the first year to use CFDs; meaning that it could have dividend, this truly depends on the LP. Of course we will do our best to use LP who gives back the dividends. CFD is a contract for difference, right? Can you clone/recreate every existing stock in a legal manner by using a CFD? A CFD liqudity provider can. We, cannot. At least at the moment. But let's hope thant we will not need CFD or tokenized stocks for a while, and that the entire stock market will be run on a blockchain. |
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How will you tackle the current dumping of the crypto market?
It's not looking very good and i'd like to know if the plans will change or not?
So regarding the ICO : yes, let's be honest, we couldn't have chosen a worst period. We do rely a lot of private sale contribution and fiat contribution to compensate the market behaviour. And if the ICO is not a success, it means there will be less token; so less token = more revenue per token, and a bigger room for increasing its valuation. So it will not be a very bad news for our token holder as example. Then regarding the project : crypto are going down (and for me it is good, it was insane the level of valuation of 99% of the crypto/tokens) but if you notice, volume doesn't get lower. They are quite stable. And they will increase. You have to notice that a bubble market is not safe, is not normal. It is made by holder, not by traders, so if you do participate in an exchange and the token derive value from the usage of the exchange, you might prefer if the volume increase; if crypto become more stable, at lower price, this could increase the exchange/trading volumes so it is actually very good for exchanges. Also, note that our project does not rely on crypto valuation to succeed; but crypto usage, and the use of decentralized approach in our design. Trading Fx, trading CFDs, in a decentralized world, |
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