AMA w/ Consnovvvv Group

By January 16, 2021 Jupiter
*I want to start with the first question. Can you introduce yourself and your team please? We want get to know you and your team. What you did before crypto, and how you got into crypto?
  • My name is Steven and I founded Jupiter. The team currently consists of David Mah (AUS Business Developer), Steven H. (iOS Developer), and myself. There are a few community members who provide great value and tools for Jupiter, @letstrythis and @voorsie. I am a network engineer by trade and have been in the US Military for 21 years. I got into crypto in 2013 by mining Litecoin and Dogecoin with an old gaming computer.
*Please explain in more detail about JUPITER ($JUP) project, what is the background of this project? and when was it established?
  • We established the project in 2016. Jupiter is a standalone blockchain that has so many features. Features like decentralized voting, file sharing, DEX, asset creation, currency creation, and the ability to send cross-border payments. I wanted to create an application layer to scaffold data storage from blockchain-enabled apps to easily store, replicate, and encrypt the stored data. We created the Gravity protocol for Jupiter to make creating decentralized apps easy and affordable. From Gravity, we internally build Metis, the flagship dapp for Jupiter. Metis is a fully encrypted chatting application built on Jupiter’s blockchain. We use account features and JSON formatting to bundle and military-grade encryption to secure every single message sent using Metis. Metis uniquely uses accounts for channels and builds each user their channel list that is stored in their account. This enables account portability across any Metis instance. There is no advertising, data mining, or AI listening in or presenting you with unwanted disturbances while chatting with your friends.
* What is JUPITER ($JUP) project? Can you talk about your ecosystem please. Could you describe this in detail for us, thank you
  • The Jupiter project is about democratizing data and expression. We feel being deplatformed is against human rights. Our technology will allow for secured communications that re not at the mercy of centralized corporations or banned by governments. Jupiter is also becoming a leading defi player and rewards platform for businesses to reward their customers.
* Please introduce how JUPITER ($JUP) project is extending its use cases through partnerships. Milestones and upcoming plans.
  • We have announced our partnership with Biofit and we are working through the local St. Louis, MO network of businesses to add them to the Jupiter Rewards Program (JRP). We have also been in contact with investors to extend Metis into a pod-like infrastructure that would store all your information (what you want to allow, of course) to give you the ability to monetize yourself or store all your medical files. You could then use the JRP from Biofit and -prove- to your health insurance you are healthier than others and ask for a rate reduction. This type of system is in the infancy and Jupiter is already sprinting. 🙂
*Can you talk about your whitepaper? Can we see your whitepaper because we would to examine it.
* Can you explain briefly your GitHub account and plans please. As we all know, it’s a good thing that GitHub’s account is open to everyone and regularly used.
* Can you tell us about the total supply of the ($JUP) token? Are you planning to decrease amount of ($JUP) in the future? Also, Do you have an amount that you keep locked up? Can you tell us everything about the ($JUP) token amount please, thank you.
  • Total supply for Jupiter is 1B. There are no plans to increase this number. We currently have 300,000,000 locked for 6-12 months (200M 6 months, 100M 12 months). We have also locked 50M Jupiter into liquidity for Uniswap for 6 months. There is also another 75M for the farming rewards.
* Who are your main competitors in the space? I mean, who do you see as your important competitors? How do you plan to beat your competitors? What makes ($JUP) token is more unique compare to competitors.
  • Some competitors in this space would be Factom, Civic, Lambda, Status, and NEM. Comparing these projects and our current marketcaps, you can see that Jupiter has much more room for growth and adoption. Our unique platform allows for many different solutions for almost any problem. Decentralization and democratization is key for everyone’s future! We are unique in the fact that we have our own blockchain and can customize private label solutions very quickly. Private label solutions will -still- enhance the public market by timestamping, or anchoring, to the public chain.
* Could you please inform and explain to us, what benefits will we get as investors if we buy and store ($JUP) token? Does ($JUP) token have a big potential to be used as our favorite token?
  • Buying and storing Jupiter tokens allow for you to provide liquidity and farm the LP tokens for (currently) ~55% APY. We are going to run the farm -at least- until the end of this year. This allows for anyone to buy into the Jupiter platform and use the applications, create their own, provide liquidity, and farm for a handsome return.
* Blockchain Industry has 3 core issues: security, scalability and interoperability which will bring competitive advantages to blockchain projects how does JUPITER ($JUP) project will solve these problem?
  • Every message sent on Metis is double encrypted. Once by the Gravity protocol  at the application layer and once by the Jupiter blockchain protocol. Scalability is achieved by interlacing private and public chains, when necessary, for high-speed data replication. We are planning on expanding our TPS in the future. Interoperability is created by the WJUP (Wrapped Jupiter) token on Ethereum’s blockchain and our native Jupiter chain. We are finalizing our automated gateway and will soon roll into more gateways. We want to allow for Jupiter’s chain to house BTC, ETH, and others to enable encrypted shuffling. Shuffling will allow anonymization of assets on the Jupiter chain.
*Are you considering to get listed on new Exchange soon? Are there any top tier exchange on your list? Also, are there exchanges that you are currently negotiating?
  • We are confident in today’s market Uniswap, Stex.com, and ChainX.kr (for Korean Market) are enough for our project to allow for enthusiasts to enter the Jupiter market. I am personally onboarding friends and family through Uniswap and showing them how to provide liquidity. I have videos to show them and pass to other friends. Our network is growing and will not stop 🙂
  • No, we are currently not paying the exchange ransom any longer lol. There are too many that want $100’s of thousands and our small project cannot afford this. We will re-evaluate in the future as our community grows.
* Let me ask the final question. Can you give us some surprise news. That could be one of the news you’ll be sharing soon 🙂
  • Our final news is a bit of an update from past announcement…that is Biofit is going live February 1st, 2021! This is great news and we look forward to the partnerships and investors we will meet from this relationship. Speaking of meetings, we have investors pitch meeting Thursday, January 28th with a group of St. Louis, MO businesses. This group will include investors of Parler, a co-founder of Invisibly, and many others. I am very excited for our project this year and expect huge growth in usage and adoption from many newcomers to crypto!

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