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Jarvis NetworkJarvis Networkby0xC62B08a5Ac22b4dE931a3BDb21101DAfDB9ad3d7mariosonic.eth

p46v2 Aureus renewal with crypto pairs

Voting ended almost 4 years agoSucceeded

Jarvis can serve an important role as the destination of a fiat on-ramp to crypto for residents of many countries. One way to take advantage of that is to have liquidity pools with major cryptocurrencies. I propose that the Aureus program should be renewed with WETH or WBTC pairings. Specifically, the three pools would be jEUR, jCHF, and AUR paired with either WETH, MATIC, or WBTC.

The advantage of having crypto pairs is that volatility of the cryptocurrency will promote volume through the pool as well as the Jarvis protocol due to arbitrage. It also is in line with the Jarvis philosophy of making crypto investments accessible to underserved markets.

The choice to not include jGBP in the new program was made because it does not have significant on-ramp volume through Mt. Pelerin.

The pools will be standard constant-product pricing AMM pools on Quickswap. The Kyber format of concentrated liquidity is not desirable for volatile assets, and therefore should be avoided.

The farming program will be funded by a storage of 2M JRT, and it will run for 60 days.

The choice of pairing could be WETH because it has much higher volume on Quickswap than WBTC or MATIC; the pair could be MATIC because that is the most liquid coin on polygon; or it could be WBTC because Bitcoin is more approachable for new crypto investors.

Off-Chain Vote

Yes, renew Aureus with WETH
7.12M JRT54%
Yes, renew Aureus with MATIC
3.65M JRT27.7%
Yes, renew Aureus with WBTC
2.41M JRT18.3%
No, don’t renew Aureus this way
15.43K JRT0.1%
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Timeline

May 16, 2022Proposal created
May 16, 2022Proposal vote started
May 18, 2022Proposal vote ended
Oct 26, 2023Proposal updated