Hello! It’s been a little while since I last wrote. A lot of reflection and a quick update is on our YouTube channel. You can catch up with the new direction and additions that will bring traction and increased usage of Jupiter and the entire ecosystem. Welcome back!
This was a hit! I am restarting the program and liquidity providers will begin to see rewards again. We will continue to use the manual method of distribution until the automatic tasks are built. This process will continue into perpetuity until a new or modified program begins. For every $JUP provided to the ETH/JUP pool on Uniswap, you will receive a portion of the daily LP rewards. The rewards will be paid weekly and are calculated by average daily LP balance. Our target reward for LP is 10% annually. Program will begin tracking January 1, 2021.
Balance Sheet Investing
Sigwo Technologies LLC (STLLC) is also announcing the intention to begin using portions of their balance sheet to invest into Jupiter. Metis, Gravity, Jupiter’s DEX and voting are just some of the baseline applications that exist and are ripe for development. STLLC will begin January 2021 to increase their $JUP holdings. Percentages and USD amounts used will vary and will be available in the business’s annual updates.
Initial $JUSD Support
STLLC, in the interest of their software business, will begin converting a separate portion of their sales into $JUSD. Supporting $JUSD will allow Jupiter’s DEX to begin organically trading different base currencies for assets created and maintained on Jupiter’s platform. Jupiter’s assets allow for an easier path to complex functions and enlightened ideas. Software sales and support will be eligible for $JUSD conversion.
Be on the lookout for $JUP => $ETH gateways and other types of $JUP assets in the coming weeks/months. I don’t want to set an artificial timeline, just know that gateway automation and FB API ingestion are at the top of my todo list.