[ICO ENDED] Jarvis Network - bridge legacy and digital finance

[Token Williams]

Market Making...... Market Makers.... These are terms that have been butchered by so many inexperienced or scammy exchange owners that the terms themselves bring a negative connotation with them now.

When you say you are working with MMs, do you mean real MMs? Because they will run you a bill of a minimum of 10 BTC per month.

Then you have scammy MM services like the one they peddle at Exrates exchange which will cost you 0.25 BTC per month.

The difference is, the 10 BTC per month service uses most of that BTC in maintaining your books and keeping spreads super small. This creates a healthy trading environment and attracts bots and traders.

The cheap scammy MM service is without a doubt just fake volume along terrible spreads on the books. In these, the buy orders will be significantly lower than the sell orders so as to not lead real traders to think they can come in a make a quick sell.

The reason I ask you this is because I don't think it is in your budget to have a real MMs employed. You couldn't even afford a highly discounted press release..... lol.
Let's hope things have changed because the last thing we need is another exchange promising the world during their ICO and then delivering just another featureless, vulnerable exchange that realized the regulatory red tape they thought they could cut right through turned out to be impossible at this point in time.

Please tell me you don't fall into that category. Achem-LAToken-achooo.

Not to mention stuff like this:

https://www.theblockcrypto.com/2019/02/20/kucoins-leaked-volume-boosting-packages-offers-draw-accusations-of-wash-trading/

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[PS92]

Market Making...... Market Makers.... These are terms that have been butchered by so many inexperienced or scammy exchange owners that the terms themselves bring a negative connotation with them now.

When you say you are working with MMs, do you mean real MMs? Because they will run you a bill of a minimum of 10 BTC per month.

Then you have scammy MM services like the one they peddle at Exrates exchange which will cost you 0.25 BTC per month.

The difference is, the 10 BTC per month service uses most of that BTC in maintaining your books and keeping spreads super small. This creates a healthy trading environment and attracts bots and traders.

The cheap scammy MM service is without a doubt just fake volume along terrible spreads on the books. In these, the buy orders will be significantly lower than the sell orders so as to not lead real traders to think they can come in a make a quick sell.

The reason I ask you this is because I don't think it is in your budget to have a real MMs employed. You couldn't even afford a highly discounted press release..... lol.
Let's hope things have changed because the last thing we need is another exchange promising the world during their ICO and then delivering just another featureless, vulnerable exchange that realized the regulatory red tape they thought they could cut right through turned out to be impossible at this point in time.

Please tell me you don't fall into that category. Achem-LAToken-achooo.

Hello Chris,

Very good questions.

When I meant MM I meant LP, not these cheap bot faking volume

MM here are basically prime brokers. Jarvis needs to hold an account within them to get some leverage (from 5 to 100 depending on the markets) to be able to provide it to users. I do not speak about the exchange, but the broker side : user set funds into an escrow or state channel, it triggers a loan within our deposit in the LP, and they can trade leverage products, non delivrables. So you can trade Forex, CFDs, stocks, commodities and crypto by locking your assets.

In order to make this deposit you need money, and many companies are willing to loan you money.

But the real game changer would be a multi-sig wallet where the LP has one of the key (we wouldn't need to have a deposit within them then) or a state channel between the user and the LP. But LP are still not ready for that



For the exchange (delivrable) we will work with order books aggregators services which aggregates liquidity of other exchanges.


Regard the press release, we actually start releasing some We had the budget but refused to spend it for PR or marketing at the moment.


Regarding our promises, we will of course do our best to deliver the best. We did not start Jarvis to do another exchange.

Smart move. PR and marketing won't do shit in this market. Save it for when the product is finished

[Jarvis Edge]

Tomorrow, we will close the presale

https://medium.com/jarvis-edge/its-still-better-to-buy-during-the-ico-than-on-an-exchange-here-s-why-cfb37486d828

[btcmegastar]

I mean, the 300k USD doesn't look that much and should be achievable, I hope.

I think gone are the days where total amount of ICO funding are correlated by a high perception of success rate thus creating a fomo and hype. Currently, investors chose to focus on projects with substance even if it didnt perform very well on ICO, but of course, the more funding generated, the better for the project itself.

They are well aware of this thats why they lowered their goal which seems quite realistic in this current state of crypto. There is a tough competition out there but Jarvis stands out in my opinion.

Really it is going to be very tough competition for the Jarvis but they should overcome because their target is not to dominate the exchanges but what to give what they promised to their customers. Which it gives more satisfaction to the company.

[viljy]

Tomorrow, we will close the presale

https://medium.com/jarvis-edge/its-still-better-to-buy-during-the-ico-than-on-an-exchange-here-s-why-cfb37486d828

From this article, we can conclude that your tokens cease to be impersonal. That is, tokens acquire the properties of some preferred and ordinary shares, as payments will be differentiated depending on the period of purchase of tokens by the owners. You consider using token standard erc721 in order to organize this rather complicated system of payments. But it seems to me that this excessive complication is not the best solution in this case...

[Jarvis Edge]

Tomorrow, we will close the presale

https://medium.com/jarvis-edge/its-still-better-to-buy-during-the-ico-than-on-an-exchange-here-s-why-cfb37486d828

From this article, we can conclude that your tokens cease to be impersonal. That is, tokens acquire the properties of some preferred and ordinary shares, as payments will be differentiated depending on the period of purchase of tokens by the owners. You consider using token standard erc721 in order to organize this rather complicated system of payments. But it seems to me that this excessive complication is not the best solution in this case...

We are open to receive any input from the community so if you can tell us more about your point of view, it will be very appreciated

Initially we wanted to whitelist address within the smartcontract. It is the easiest solution at the moment. The idea of the token comes with the idea that this token would be an asset that could be transmitted.

[sambuddha]

I mean, the 300k USD doesn't look that much and should be achievable, I hope.

Perfectly reasonable amount to collect even in the current bearish atmosphere. As an investor i am just happy that every project is not getting hunderds of millions. More space to grow now.

I think gone are the days where total amount of ICO funding are correlated by a high perception of success rate thus creating a fomo and hype. Currently, investors chose to focus on projects with substance even if it didnt perform very well on ICO, but of course, the more funding generated, the better for the project itself.

I wonder why investors just won't buy bitcoin? Is it not safer and more profitable? Why risk it?

[bitcoin-shark]

Kinda lost track of the roadmap? When can we expect Jarvis to open its doors again?

Hello,

initially we were supposed to launch in q1, but due to the fund raising results we were forced to reduce our burnrate and slow down the development to align with our finances. We keep working hard on it to do not impact to much the roadmap, but many things will need to be changed. However, if the roadmap changes it does not mean to delay everything but to reverse priorities and to start launching other components first. As example we wanted to launch our decentralized exchange and dapp browser by the end of the year, we will maybe start with that and finish with the centralized exchange.

There are many decentralized exchanges but no-one of them has solid volume. Do you think you can attract enough volume to decentralized exchange?

Good question. Is Jarvis  planning to partner with market makers?

Yes, we actually are discussing at the moment with very big MM to provide Fx and Crypto liquidity to both Centralized and semi-DEX.

Do you all know how this things work with liquidity? Or you would like an article about it?

Which MMs are you partnering with?

An article is always a good thing.

Hello,

I am not allowed to give names, but some work with Kraken and Bittrex as example

so big names in view of whether these partnerships should be realized i believe that the future development of jarvis would be almost assured...

[Jarvis Edge]

Today, is our last day of presale guys.

We managed to raise $125k so far, with 0 marketing spending, in this period. We are still waiting for around 30k of fiat so we are quite satisfied. Our target was 250k at least.

[sockpuppet1911]

Today, is our last day of presale guys.

We managed to raise $125k so far, with 0 marketing spending, in this period. We are still waiting for around 30k of fiat so we are quite satisfied. Our target was 250k at least.

Without any marketing that is pretty good though. Not the last bull run good, but not a single ico would get that amount in the Dragon's Den for example

[magisterr]

Today, is our last day of presale guys.

We managed to raise $125k so far, with 0 marketing spending, in this period. We are still waiting for around 30k of fiat so we are quite satisfied. Our target was 250k at least.

But you didnt raise softcap? How much your softcap for main sale? You making some development already? What you did so far? And when exchange launch? As I remeber beta version should be ready in Q1?

[chichidori]

Today, is our last day of presale guys.

We managed to raise $125k so far, with 0 marketing spending, in this period. We are still waiting for around 30k of fiat so we are quite satisfied. Our target was 250k at least.

But you didnt raise softcap? How much your softcap for main sale? You making some development already? What you did so far? And when exchange launch? As I remeber beta version should be ready in Q1?

Its a good amount for jarvis to start but with this kind of amount expect a slow development because of its tight budget, jarvis has a soft cap of 500k correct me if i`am wrong.

[DeViL303]

Jarvis – unifying Blockchain applications and bridging them with traditional finance
https://zycrypto.com/jarvis-unifying-blockchain-applications-and-bridging-them-with-traditional-finance/

[Jarvis Edge]

Today, is our last day of presale guys.

We managed to raise $125k so far, with 0 marketing spending, in this period. We are still waiting for around 30k of fiat so we are quite satisfied. Our target was 250k at least.

But you didnt raise softcap? How much your softcap for main sale? You making some development already? What you did so far? And when exchange launch? As I remeber beta version should be ready in Q1?

No there was no soft-cap.


---

What we have
https://gitlab.com/jarvis-exchange

• our cross-platform (iOS, Android, MacOs and Windows) ETH and BTC wallet;
  
• our trading platform which can connect to FXCM as well as our exchange;
  
• we have acquired a brokerage license;
  
• launched a prototype of the trading interface in C# used by 1200 traders;
  
• have all the backend of our exchange finished.
  

Because of the current state of the ICO we preferred to slow down the development to secure the company and adapt to our situation. We also slow down the development of the exchange (that cost 15 to 20k per month to develop. In this process we have lost our wallet/solidity developer and a our technical advisor.

• There is still 350 to 700 hours of work on the wallet as we are reversing our roadmap (we wanted to do the Dapp browser and semi-DEX at the end of the year but our current fundings and ICO results will not allow us to launch the centralized exchange in Q1)
  
• Still 700 to 1000 hours of work on the trading app (the trading app allow to trade on many brokers and exchanges through API, as well as to trade Fx and leveraged crypto from our wallet).
  
• Our own exchange UI (which is actually the same UI as the trading app, so
  

---

What needs to be done
We will discuss here about our Wallet, ou Trading app, the Exchange, the liquidity network and the partners.

1. Wallet
The most important would be to be able to launch a MVP wallet with a dapp browser to start acquiring users, and start to integrate Celsius and Simplex or Mister Tango.
But prior to that there is still a VERY IMPORTANT question that needs to be answered: do we keep a multi-currencies wallet or do we go for a smartcontract based wallet?

There are pros and cons.

Multi-currency

• Cons : keeping a multi-currencies wallet damages the user-experience: we currently do not have solutions for mainstream seed-phrase recovery and easy key management system, or seamless multi-login.
  
• Pros : we already have the design and a working wallet (ETH/ERC20 and BTC ) but it needs a big refresh on the UI side and to add features such as a Dapp browser, and support of ERC721.
  

Smart-contract

• Cons : we have to redo part of the design, and we will most likely not be able to reuse our previous codes. We also lose bitcoin support at least for the beginning. Also as the Parity wallet issues showed, smart-contract based wallets suffer from human mistakes. A lot of work a lot on the security aspect is expected.
  
• Pros : we can implement a user experience similar to a centralized app  and since we focus a lot on the mass adoption it is a big plus. It will enable easy key management and recovery system, universal login, gas-less transaction etc. Also it will ease our future development such as integration within our exchange, identity management etc..
  

In any case we want to keep the technology stack we worked with: React Native, Redux and TypeScript because we use Electron. It allows to have a single code, that works on iOS, Android, PC, Mac and Linux.
We also want to implement gas-less transaction with proxy contract or meta-transaction and implement state channel and locking function for instant payment, off-chain transactions/trades with a single on-chain settlement etc.

For this project we estimate that there is still a lot of work to be done, probably between 350 to 700 hours of work, so between $9,000 to $35,000 dollars depending on the hourly rate (we prefer to outsource). We are discussing now with 5 companies in France, Poland, Bulgaria, Vietnam and Sri Lanka. We will take a decision soon.

2. Trading app
Then comes the second most important thing, our trading interface to be able to start acquiring traders (we already have 1200 users of the Fx trading platform).
The app can connect to many brokers or centralized exchanges through API, including our own semi-decentralized exchange/broker.

A smart-contract or multi-sig wallet, or state channel, would be needed to lock users funds in order to gain a trading power to gain exposure to Forex, stocks, crypto etc. This will allow us to compete with any FX/CFDs brokers as well as with Okex and similar exchanges which provide non deliverable leveraged crypto.

For this project there Still a LOT of work on the user interface, we estimate that it is still requiring between 700 to 1000 hours of work, so between $20,000 to $50,000 dollars.

3. Do we need to launch the exchange first?
No… but let's be clear on how we see things.
You need an exchange to… exchange assets… trading does not always meam the exchange of an asset. When you trade Forex, Futures, options, CFDs or even leveraged cryptocurrencies there is no asset exchanged between the trader and the counter-party.
Why trader does use centralised exchange instead of decentralised one?

For the speed… actually when I do trade BTC or ETH, I use margin. Because I am not looking to own BTC or to sell mine, I am looking to gain exposure to the underlying movement. And so does most of the crypto trader…
Launching first a trading app will then be more logical for us.

At launch we can rely on third party exchanges to create swap/exchange within the app instead or our own. Plus, an exchange is very pricy to run, and at the moment we do not have the funding capacity to run properly an exchange. So the roadmap will be changed.


4. Liquidity network
We are in touch with some companies that can help us with the smartcontract to allow to trader leveraged crypto and FX from a DAI, USDC or many ERC20 tokens deposit. We are already working on the liquidity aspect with aggregators and traditionnal LP that accept cryptocurrenies for settlement.

• We found a huge crypto LP but unfortunately they aggregate order to have a 50 BTC volume on the top of the books, creating an average of 12 dollar spread… we are negociating to lower their top of the book aggregation to have decent spread, not more than a dollar. If they are agree we can offer a 20x crypto leverage + a 100x leverage on Fx.
  
• We also are discussing with a LP that can lend us money for the deposit, from 10 to 50% of interest rate per year (payable daily).
  

This project mainly requires time and some setup fees amounting $20,000 dollars, and deposit. A $500k to $1M deposit would be the best fit. It will also require some dozens of hours of work.

5. Partners
Then finally come the integration of partners solutions such as Celsius, Simplex, Nexo, Shapeshift, Daneel, etc.

They all require time + dev + setup fees as ex for Simplex. We estimate around 150 to 200 hours of work to integrate Celsius as we need to do a lot of UI work, 90 hours for Shapeshift, Faa.st or Uniswap, and few hours to integrate Daneel. So around 500 hours of work for all of them, amounting between $12,500 to $25,000. Setup fees are expected to cost $20,000.

---

These things are the most important aspect of Jarvis on the short term prior to engage more money to finish our own exchange, payment gateway or card solution (for this we would need around $200k of setup fees and $50k of development, as well as around $300k a year of operational cost) etc.

What I described before will allow us to have a go-to-market strategy, and start getting users and earn revenues. I have 21k French Forex traders community that is only waiting for the trading interface from where they can trade Fx from their wallet, or using their current brokers.

So we would need roughly 30 to 85 000 dolalrs for dev, so from 50 to 100 000 to add some margin and 500k dollars for liquidity. These numbers does not take into account the operational costs of running these applications. But we do estimate at 20 to 30k euros per months for the strict minimum.

[pynetx]

Seems like today is the last day of the presale. So, how much is raised so far?

[Jarvis Edge]

Today, is our last day of presale guys.

We managed to raise $125k so far, with 0 marketing spending, in this period. We are still waiting for around 30k of fiat so we are quite satisfied. Our target was 250k at least.

Without any marketing that is pretty good though. Not the last bull run good, but not a single ico would get that amount in the Dragon's Den for example

I was thinking if you guys have plans to attend crypto conferences  to make the project gain more exposure to the crypto community so that they can get to know its innovative features and maybe got to invest with it.

We are going to many places soon: Malta, Zug, Paris, Venice and maybe Singapore.

[Jarvis Edge]

Seems like today is the last day of the presale. So, how much is raised so far?

125k in the presale, but we are waiting several fiat wire that should arrive next week.

[beeelzebub]

Seems like today is the last day of the presale. So, how much is raised so far?

125k in the presale, but we are waiting several fiat wire that should arrive next week.

Actually not a bad amount if you think about the market. Also it is really not a small money if you take your head from crypto world an look to the real World

[mandibleclaw]

Ouch, losing your wallet/ solidity developer seems a very bad thing to me, skilled and good solidity developers don't grow on trees, there are not many around

[belechau]

I consider the amount raised in the pre sale an excellent start if you repair the current market situation. means that the Team plays so far a good job. But frankly, I expect more aggressive marketing in the next stages. Less interesting projects did this, and for many times I came across their advertisements on sites related to the crypto, I see potential in Jarvis to make it better