Topic: [ICO ENDED] Jarvis - Fx, crypto, stocks | DApp browser | Revenue token - page 39. (Read 44779 times)

If the beta version is launched they will generate revenue from trading fees. Don't know if it will be a lot, but still.

What is your burn rate? 155k won't get you that far. How much VC money did you raise and how much is left?

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

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

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

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

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

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

No there was no soft-cap.


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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
  

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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.


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.


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).
  

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


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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.

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

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.

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?

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

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.

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

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

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.

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...

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.

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