Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with Juggernaut on November 11, 2020. This guest star Nacho, Co-Founder at Juggernaut. If you were unable to join the live AMA, no worries, here comes our 86th AMA recap!
We are glad to meet here:
Nacho, Co – Founder at Juggernaut
For taking your time out from busy schedule for the AMA!
Q1: Can you introduce yourself to the community? What is your background and how did you join Juggernaut?
I’m Nacho, from Spain. I live in a city right at the south, called Malaga. While I was studying my bachelors at the University of Malaga, I found blockchain and cryptocurrencies, and I started learning everything I could about them.
Q2: Can you briefly describe what is Juggernaut?
The name Juggernaut is inspired from the character of the X-men comics. It also means “an unstoppable force”. Our token short name is JGN, and it has been listed on Uniswap, Gate and Boboo.
Juggernaut is building a DEFI + NFT infrastructure. I believe DeFi (decentralized finance) is the next big thing in crypto, because blockchain technology has many advantages over traditional finance, and there are a lot of reasons to make the change! JGN is designed to make DeFi synthetics simple and easy to use for any business use-case. The JGN mission is to help anyone that thinks of a business idea to add customized DeFi into its components.
Faiz: I’m sure DeFi will have a really great future in this industry
Nacho: I agree! I think DeFi have a lot of potential
Q3: What companies/projects do you see as competitors, and how does Juggernaut stand out compared to them?
Other DeFi projects focused on synthetics for example.
Here is a comparison table we did with some big DeFi projects
Then we will be competing with platforms like Opensea and Rarible on the NFT space.
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 Simply recreating outdated financial models is not enough; there needs to be something else.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 focused on non-commodity assets, with an emphasis on creating and sustaining different business use-cases.
Q4. What are the use cases for the Juggernaut (JGN) Token?
We are building a custom synthetic DeFi and NFT protocol and marketplace. JGN is designed to make DeFi and NFT simple and easy to use for any business use-case. The JGN mission is to help anyone that thinks of a business idea to add customized DeFi and NFT into its components.
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. It is used in our Yield Farming and NFT Farming offerings.
Then it will be used by companies that want to implement DeFi and NFT into their business models.
Q5. What are the major milestones Juggernaut achieved so far & what are in future pipeline?
We have been listed on Gate.io, a top 20 exchange in the crypto space. We have built the first version of JuggerSWAP, that currently supports Yield Farming, and we are very close to release our own NFT marketplace and NFT collection (launching today!).
We want to improve our tech, release new and exciting NFTs, and list on other major exchanges.
Q1: The JGN ‘j’ token series will offer unique synthetic derivatives for specific business use cases. Why do you need customized synthetic derivatives (non-commodities)? And what is JGN’s synthetic ‘j’ tokens use cases?
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.
JGN’s synthetic ‘j’ tokens will enable users to create, customize and modularize their business use cases into DeFi synthetics.
With ‘j’tokens, users would be able to accept, allocate and distribute profits, pay commissions, dividends and much more using custom synthetics. These synthetics will also be able to be leveraged and used within the Ethereum ecosystem, for such purposes as trading or any one of the many others available on the blockchain. Users can add liquidity and offer their custom synths to the world to buy.
Q2: Regarding the first beta phase of JuggerSWAP, what features allow it to be the core of the synthesizer market for the JGN Ecosystem?
Right now, JuggerSWAP offers unique Yield Farming opportunities. In the near future, it will be a platform to issue different types of synthetics, so users will be able to mint their own synthetics.
JuggerSWAP will be the core of Juggernaut because it will offer access to new types of assets, like NFTs or synthetics, and act as the initial platform for businesses that want to incorporate DeFi into their business models.
Q3: As for your $JGN token, besides offering unique synthetic derivatives for specific commercial cases, what benefits does it bring to the Defi world, to contribute to its development?
e are building a custom synthetic DeFi and NFT protocol and marketplace. JGN is designed to make DeFi and NFT simple and easy to use for any business use-case. The JGN mission is to help anyone that thinks of a business idea to add customized DeFi and NFT into its components.
Some usecases of Juggernaut are crowdfunding a project, international governance, loyalty program, referral system and performance-based incentives. You can read more usecases here: https://medium.com/juggernaut-defi/potential-juggernaut-use-cases-a-deep-dive-88797d1275a4
JGN will be the token powering all of that, and our ecosystem. We are offering new uses of synthetics, unique NFTs and a marketplace for new types of assets in JuggerSWAP.
Q4: Sometimes the users just want a easy way to multiplicate its funds, so can you tell me why Juggernaut is the right choice to increase Wallets?
I do not offer investment advice, but we are building a very solid project, with great partners and investors. The highlights of JGN are the following:
- Customize your use case and build your own synth
- Dynamically split profits based on performance
- Globally collaborate on establishing project decisions
- Engage in innovative new models on the JuggerSWAP marketplace
- NFT compatibility & marketplace
- Exciting yield farming opportunities
Q5: Does JuggerSWAP allow you to add liquidity to any type of token? Can people create their own tokens using Jugger as a base? What do I need to use JuggerSWAP?
Customize usage rewards directly among users and holders, encourage greater liquidity, usage, and adoption, and empower users with complete decentralized governance.
At the moment, JuggerSWAP is a marketplace where users are able to stake NFTs and other type of tokens through farming, and in the near future buy & sell different types of assets, like synthetics or NFTs. So, it’s similar to OpeanSea, not Uniswap.
People will be able create and mint synthetics assets in the JuggerSWAP platform.
sing JuggerSWAP is really simple. Go to https://juggerswap.jgndefi.com/, connect your wallet (for example I use Metamask), open the pool you want to stake on and click any of the buttons available, like “Stake Tokens”.
Q1. Can you describe the Juggernaut’s NFT Marketplace? What kinds of NFT product available in this marketplace? How can we aquire those NFT? What medium of payment are acceptable in your marketplace?
As a DeFi project, Juggernaut wants to help everyone be part of this revolution, and let them get exposure to new and interesting assets.
NFTs can bring a new level of experience when it comes to gaming, music, arts, customer service, loyalty points. Etc. It makes a lot of sense to explore the power of NFTs for a lot of existing and new businesses.
Our new NFT marketplace will be the gateway to discover all the possibilities of NFTs, for both companies and individuals. It offers Juggernaut the opportunity to experiment and come up with unique and crazy incentive mechanisms, business models and rare collections of NFTs.
Right now, you can acquire NFTs only with the use of our Experience Points tokens, jXP, like in video games. Stake JGN to get jXP and unlock the NFT you want once you have enough points!
Q2. Hello, we can see uncountable amount of hacking & leaking news in this cryptocurrency space. How you ensure that the assets of $JGN users are safe and secure?
We audit everything on the tech side, from our smart contract to our JuggerSWAP staking pools.
- Smart contract audit: https://jgndefi.com/wp-content/uploads/JGN-Smart-contract-security-audit-report.pdf
- Pools security audit: https://juggerswap.jgndefi.com/file/JGNRewards-1.pdf, https://juggerswap.jgndefi.com/file/JGNRewards-2.pdf
Obviously with DeFi there are always risks. Smart contract can be exploited, and hackers are always looking for vulnerabilities, but we take security seriously. We are constantly consulting security experts to check if everything we are doing is safe.
Q3. At the moment , where you are focusing right now ? building and developing product or getting customers and users, or partnerships ? Could you share it?
We are focused right now on our full NFT launch, with our own marketplace and collection of cards, and listing on major exchanges.
In the future, we want to partner with different businesses. We’ll be working with NFT artists around the world to help them launch online galleries and more.
Q4. For Juggernaut, what is your greatest ambition in partnering with other exchanges?
When looking for new exchanges, we are always looking for three important things: liquidity, trust and security. We want to increase the liquidity of JGN, we want users to trust the exchange and we obviously want everyone to be safe when trading our token (or any token).
Right now we are talking with Huobi, Binance and Upbit. It’s difficult to list on any exchange, as they want to verify that everything is good even before considering moving forward.
Q5. From where can I buy JGN token? Is it listed on any exchange?
It is listed on Gate.io, Uniswap and Boboo.com:
For more information: https://coinmarketcap.com/currencies/juggernaut/
Q6. I’m also a spanish Guy and commonly so many projects just focus in English and Asian communities, so considering this, can you tell me how much important is the Spanish Community ( Spain+LATAM) to you? Saludos desde Barcelona ❤️
Nice! It’s true, but you have to consider that the biggest markets for the crypto space are in ASIA (China especially) and english is like an universal language, so those are the main focus because you can reach a lot of people that way.
For me personally, Spain + LATAM are communities that I have very closely, and I’m sure we will eventually expand our translations and communities there as well.
You have to start somewhere, and later on keep expanding 👍
Q7. Describe the long term vision of JUGGERNAUT ?
Juggernaut will enable users to create, customize and modularize their business use cases into DeFi + NFT solutions.
Imagine the possibilities if someone can launch new and innovative business ideas without having to worry about business models and with the opportunity to do something crazy and original.
We want Juggernaut to be the first stop when anyone thinks of DeFi into business, and Juggernaut’s NFT Marketplace will be THE place to go to create, discover and trade NFTs.
Q8. What is your background and how did you come to the idea to create your project?
I’ve helped launch many different projects. I’ve helped IOST reach top 20 marketcap of all crypto projects, I’ve worked for NuCypher, for Skrumble Network, and many more.
Because I was able to see the transformative power of blockchain and how it can change the world. I kneww it was the time to start Juggernaut.
Q9. Hello @nachollanillo, Please I have a question regarding the New Referral Program for #Juggernaut’s NFT Marketplace, how many VIP levels will you have, what are the commissions and conditions to participate?
Nice catch! We have recently started a referral program in our NFT Marketplace.
There are 5 VIP levels, ranging from VIP 1 with a 10% bonus to VIP 5, with a 40% bonus 😱😱😱
The good thing is that VIP levels do not depend on what you have staked, but rather the total staked by the friends that you have invited, so you don’t need one rich friend into crypto to achieve the best rewards possible 😂
Above there’s a table with all the levels and rewards. Be sure to check it out!
If you are interested in learning more about our referral program: https://medium.com/juggernaut-defi/new-referral-program-for-juggernauts-nft-marketplace-d4b41eae470a
Don’t forget to Join And Follow social media from Juggernaut
Telegram Group: http://t.me/JGNDeFi
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