Juggernaut is pioneering in the Non-Fungible Token (NFT) and Decentralized Finance (De-Fi) space, creating a completely custom De-Fi synthetics suite, governance, and NFT ecosystem.
Why Juggernaut is Poised to Become a King of BSC
Juggernaut is pioneering in the Non-Fungible Token (NFT) and Decentralized Finance (De-Fi) space, creating a completely custom De-Fi synthetics suite, governance, and NFT ecosystem. JGN is developing further use cases in the NFT space, allowing businesses and artists to tokenize their assets into their full-fledged ecosystem, supporting the creation and marketplace of the minted NFTs. Unlike traditional synthetic asset protocols such as Synthetix and Spartan Protocol, Juggernaut is focused on a non-commodity synthetics market.
The team aims to build an infrastructure that will allow individuals and businesses to launch and trade their own NFT and De-Fi capabilities effortlessly.
–JuggerSWAP NFT Marketplace
–Non-Commodity Synths (Unreleased)
–Creation and Operation a DAO and NFT Ecosystem (Unreleased)
JuggerSWAP NFT Marketplace
The Juggernaut NFT marketplace launched on November 10th coupled with their Genesis Card Collection release, featuring 12 exclusive cards. While this collection has finished, the newest collection is The Maiden NFT Art Collection by JGN – The Beauty in Decay. Users can earn these NFT’s on the Ethereum Network by staking their JGN to receive jXP, which is used to acquire the NFT’s. Currently, the JuggerSWAP marketplace is only available on Ethereum but an interoperable NFT Marketplace is soon to come to the Binance Smart Chain (BSC).
It is important to note that jXP is no longer used in the Juggernaut ecosystem on the BSC.
Juggernaut has released its new NFT game on the BSC, which features its latest unique NFT collection. Users could participate in the JuggerDRAW to mint random NFT letters, which granted rewards when certain words were spelled. This promotion worked on a first-come, first-serve system offering users up to $10,000 in reward tokens.
Based on the success of JuggerDRAW v1 the team decided to launch JuggerDRAW v2, which offers an even larger prize pool. JuggerDRAW v2 also features holiday NFTs that will be tradable on the upcoming NFT exchange. There are a total of 7 different holiday cards, which all have a limited supply.
In addition to the holiday cards the team has also shifted away from the jXP token for the time being. This team decided to only require JGN on the platform as requested from the BSC community. Moving forward, the team aims to make JGN a global De-Fi + NFT project, which is why only JGN will used for the foreseeable future.
The team also incorporated a deflationary measure into JuggerDRAW, burning all tokens once the initial $10,000 in rewards have been recovered. This reduces the circulating supply of JGN, ultimately driving value to long term holders. For those who wish to learn about Deflationary mechanics, check out my Cryptonomics article.
To participate in the JuggerDRAW, users must have a BSC wallet to connect their wallet to the platform. Users can begin playing by opening the Treasure Chest, costing 10 JGN tokens, granting a random NFT. These NFTs are currently un-tradable but will be supported for exchange on marketplaces such as JuggerSWAP and Opensea.io.
For those who wish to learn more about the specific probabilities of NFTs, game rewards, and the in-depth rules, view the JuggerDRAW v2 medium post here.
The JGN token is native to the Ethereum Network, where its total supply is 150,000,000 JGN. As for the BEP-20 tokens, 2% of the total supply (3,000,000 JGN) was swapped onto the BSC. To do this, the team burned the 2% of the ERC-20 supply, which can be viewed here. Subsequent swaps may occur as demand requires
As seen in the token allocation, a majority of the tokens are allocated towards growing the JGN project, with only 10% of the supply being assigned to the team and advisors. The other 90% of the tokens have or will be used to develop the project through: providing initial liquidity, marketing, foundation, partnerships, and liquidity incentives. Overall the JGN token still has a lot of supply left to mint, but many of the funds are vested and will be slowly emitted. To check out the complete token allocation, which includes the vesting periods, you can view the JGN litepaper.
BSC Ecosystem Partnerships
The JGN team has also partnered with leading BSC projects including Thugs Finance, Bounce, BurgerSwap, PancakeSwap, Beefy and more. Of particular significance is their collaboration with Thugs.Fi, creating liquidity for the JGN token in return for a JGN rewards pool. Thugs.Fi users who stake DRUGS in return for HOES will earn JGN tokens from a limited collection of JGN. On top of this, users who provide liquidity on StreetSwap for the JGN-BNB pair will begin earning DRUGS tokens, which currently has an APY of 300%.
This partnership benefits both projects for Thugs.Fi users, they can earn the unique JGN token for staking their HOES. As for Juggernaut, the team at Thugs.Fi has created an incentivized liquidity pool to provide a market for BEP-20 JGN tokens.
The team at Juggernaut continues to innovate as we move into the new year. They are diligently working on releasing their interoperable NFT exchange on the BSC as we come into the new year. Moving forward, the year of 2021 is full of innovation for JGN. The following year is jam-packed, so I will list a few of the most relevant releases:
We will be launching the first dedicated BSC NFT Exchange with issuance, trading and much more
We will launch our custom synth swap marketplace, with synthetic assets not seen before. We will add the ability to create collateral pools in our protocol.
We will offer improved Yield Farming opportunities (v2).
We will initiate Phases II and III of our project, partnering with ten new DeFi projects.
We will release the first, second and third batches of non-commodity synths into our platform.
Lastly, we will start the first approach into Decentralized Governance (v1).
Please note, that as market demands change, we may prioritize or examine other opportunities including further emphasis on NFTs
The team has shown continued innovation and has no plans on slowing down. I look forward to the following releases as JGN inches closer to becoming a complete product, providing De-Fi and NFT infrastructure to all users. For those who wish to view the comprehensive roadmap, it can be referenced here.
The Juggernaut team has made a grand entrance on the BSC with a successful launch of its JuggerDRAW v1. The team has decided to launch a v2, which boasts larger prizes and improves upon the first model. As time moves forward we can expect a complete NFT ecosystem to come to the BSC, similar to the JuggerSWAP currently on the ETH network. The team is diligently working to ensure the project’s success, recently pausing the use of the jXP token by request of the community.
JGN is on track to provide a robust De-Fi and NFT infrastructure that caters to any business use-case. As the team builds their platform, they will continue to grow, creating more partnerships. Overall the JGN project has come a long way but still has plenty of innovation coming in the future.
It is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
None of our articles are advice at the end of the day, and all financial decisions should be made on your own behalf or from a professional financial advisor.
Source : bsc.news