Howdy and good morning! I completed an AMA with the support of Pantera Group in their Telegram channel. Here is the list of questions and answers provided. I hope you enjoy! (I did not update any grammatical errors in the questions)
Q.1 @ppiyakppiyak – Jupiter burned 81B coins on August 29th. He said he would burn such a large amount of coins and keep the supply of JUP at 1B. Are there any plans to issue JUP anymore? So how is the node reward for Jupiter done?
The coin burn was planned and finally the time had come. The circulating amount of JUP will never be more than 1B on either chain. This diagram explains a bit better…
Q.2 @korea_samlee – I know that I recently swapped from the mainnet to ERC20 Jupiter. Why did you perform the swap?
ERC20 is easier to list on exchanges, provides hardware wallet support, and generally is more accepted by the crypto community. There is a smaller entry barrier to bring more people to the Jupiter community.
Q.3 The Jupiter Project is known as a distributed platform that automatically encrypts, replicates and decentralizes information. However, from the perspective of the investor, what should be considered as a project in which information such as white papers and issuance volume is not disclosed, so what part should an investment decision be made?
The main product we are developing is Metis. Metis is a decentralized, encrypted, GROUP chat application. We are alpha testing our mobile app and will be including defi trading (Uniswap), chat, crypto wallet, and in the near future Digital ID and voting possibilities. The ‘white paper’ was written in 2016 and has been updated. Our most current path is explained in our Road Map. We would like to make things like the Kakao hack a thing of the past. No centralized servers or middleman to spy or sell your data.
Q.4 @Bluedragon77 – Sigwo Technologies is working on a total of five projects, including the jupiter project, Mites, Titan, Gravity, and Eye. As far as I know, the jupiter is a block chain project that oversees the other four projects. It is very difficult to find the relevant information. Could you elaborate on this?
As stated above, our main project focus is Metis. Titan and Eye are product examples of what could be built on Jupiter using Gravity. Gravity is the software framework for developing on top of Jupiter. So, Jupiter is the base layer, Gravity is the middleware, and Titan/Eye/Metis are applications built on top using the tech stack. I am sorry for the information being a bit difficult to find. I am working on distilling these into more digestible graphics.
Q.5 @happyhooni – Jupiter explains based on the Metis application. There are various similar applications such as Telegram and Line, which are the existing messengers. Why should I use Metis?
One main reason to use Metis over other similar applications is security. Metis is -always- encrypted. There is no centralized server to collect data on Metis users. There is no advertising. You don’t need to use your email or phone number to sign up. We collect absolutely zero information on you. Every channel in Metis is encrypted, one to one messages and one to many messages as well. This chat is -not- encrypted and is passing through Telegram’s centralized servers. Also, Metis will give you the ability to send crypto payments and be a compliment to your daily life.
Q.6 @achist11 – I’d like to know what the Jupiter project has to offer in terms of security, focusing on a number of projects such as Metis Titan Gravity Eye.
As stated above, we are really focusing our efforts on Metis and the mobile app. We think this is our best way to bring a viable product to market that fills a very large need. With all the social media and internet snooping that goes on, we want to provide a safe and encrypted way for people to talk with their friends and not have their discussion dissected and regurgitated for advertising and marketing firms. We do not want our users to be the product. The more Metis is used, the higher the transaction volume (fees) the higher the node rewards go. We think this is a really good position to be in and we are glad you are here with us ❤️
Q.7 Jupiter is sold in ChainX and uniswap, but are there only two places where the listing has been confirmed? Do you have plans to list other large exchanges as well?
We are also listed on Stex.com. They have been a great partner and we have provided a very liquid market with tight spreads. Stex will also support the swap from mainnet JUP to ERC20 JUP on their exchange on SEPTEMBER 7th, 2020. At that time, the markets will re-open for trading.
We are working with a large exchange now. I do not want to disrupt their process so I cannot say who at this time. I will say it is a top 20 spot exchange on CMC and has many capabilities such as staking, futures, leverage, and many opportunities for competitions. They also have a world-class mobile application. As -soon- as we can announce the agreement, we will.
Q.8 Insufficient information in SIGWO TECHNOLOGIES that created the Jupiter project. If you look at the homepage, there are only 2 people in the team introduction, so I wonder how many people are leading the project. I want to know about the development progress, but I can’t find out even if I look it up. Please let me know if you have any information such as road map or white paper. Also, I wonder what your short-term goal is.(Except coin sales)
Sigwo Technologies is a business that uses JUPITER as the underlying technology. The road map for Jupiter has been on the home page for quite sometime. https://gojupiter.tech and look for “Roadmap” up top. As stated above, our short term goal is to complete the Metis mobile application and market the reasons why it is superior to other means of communication for friends and sensitive businesses.
Q.9 I saw the story of the JFUEL token in the Jupiter blog post. It’s a voting token, but I’m curious how to get JFUEL and how it will be used later.
JFUEL is going to be airdropped to users that hold JUP ERC20 in the near future…we are looking at the potential date of SEPTEMBER 10th, 2020. We will release the exact date/time soon. JFUEL will give the holder voting and governance participation in Jupiter.
Q.10 How will the Jupiter coin be used? What is the target market for Jupiter?
JUP Token (ERC20) will be used as collateral for Enhash (our next large initiative) Enhash is a way to decentralize storage on Jupiter. There will be a requirement for Enhash to be held and a full JUP node to be running for a user to participate as an Enhash node. Rewards for Enhash nodes will be greater than regular JUP nodes.
Q.11 How are Jupiter’s partners formed? Do you have any special standards?
Partners are formed when we have like minded goals and intentions for the sake of our community. We strive to only partner with reputable businesses in the space. Our special standards are to be a good person with an honest heart.
Q.12 I went to jupiter homepage. The introduction of bounce.finance is shown on the first screen. I went in there. However, the website that I entered did not have an easy-to-understand configuration. For example, the size of the liquidity pool, the price fluctuation of the token, or the user-friendly. Please tell us what advantages bounce.finance has in comparison to uniswap. And please let me know how to purchase the bot token.
The bounce.finance pool is a fixed amount auction. Each JUP token are $0.005, just as they are on ChainX. Once all JUP tokens are sold or the expiration date comes, the bounce.finance pool is closed. The size is listed, 275M for sale @ $0.005 per token. 300M are for sale on ChainX. Again, both places are the same price. It just gives more ways for people to participate. Pool ID is 2048 for JUP token on bounce.finance.
Overall it was a great AMA and we thank the Pantera Group for their audience!