We've got a few minutes here.
We'll get everyone into the spaces.
Can I ask her what your name is?
My name is Kurt, and I am the project lead game theoretician of Arbitrum Janus Dex.
Yeah, so I can call you Kurt throughout the spaces.
Well, I'm just going to get a glass of water and we're back in a couple of minutes and we'll
Is there anyone else we need to unmute, Kurt?
or are we just speaking to you today?
So, actually, my partner Wojak is currently hard at work
just setting up the pools and doing everything for the website
and making sure everything is in order.
So I don't think he'll be able to join us,
but he does wish us a good AMA.
I've told him he can come too if he wants,
but I think he is too busy.
If you're ready, Kurt, I can do a quick introduction
and we can go into the Janus Dex.
A warm welcome to the WorldCoin Talk Spaces.
Today we have joining us Kurt from Janus Dex.
We'll be going into the project shortly.
But first, Kurt, can you tell us about yourself
and how you got involved in the crypto industry?
Actually, my entry date into crypto was really early, 2014.
And, you know, I got into it just by hearing, you know, about Bitcoin.
And really, I was a Bitcoin and I like altcoins, you know, from 2014 through about 2021,
but then became a full-time crypto developer in 2021
and started releasing my own project with my partner, whose name is Wojak.
And so we've released projects like Yield Farms and short-term rebase DAOs
and also a play-to-earn game called Farmerland,
which provides the yield booster NFTs for Janus Dex.
So we are really strive for project continuity.
And so we actually have a whole play-to-earn game,
which can make sort of earning your yield boosters in Janus Dex fun.
So we are an experienced team who's released many DAOs and contracts before, you know.
So we've, you know, run several presales.
And actually, we have done a WhaleCoin Talk Telegram AMA before
through our friends at Mandela Exchange hooked us up with you.
And so this is actually our second appearance with WhaleCoin Talk.
So thank you so much for having us back.
Thank you for the introduction, Kurt.
Could you give us an overview of Janus and its main features
and how does it differentiate itself from all the Dex platforms in the market?
So one thing that you have to know about Janus Dex is that it is community-owned.
So we have a separate token called JO.
So we have J, the regular Dex token, and JO, which is called the Janus ownership token.
And JO represents really true ownership of Janus Exchange.
And it, we're going to have a revenue pool for both J and JO.
And actually, so the majority of all the funding that the Dex brings in overall,
including B2B fees, pool fees, and all that, are going to go into this JO pool.
And actually, so that's also how the creators are going to harvest their funds.
So what we have is really sort of closer to a true equity token and a better dividend token
than you really see with other platforms.
So there are many Dexes out there where you have the ability to stake your Dex token for an X token,
And then you can stake that for, or XBoo.
Like, for example, let's just take XBoo with SpookySwap.
They would let you stake Boo for XBoo.
And then they would let you stake that in a dividend pool that would give you like 50% APY
of some tokens that they got from another project.
Well, I mean, in my opinion, that's just not very good.
We think it's a lot better to put, you know, a big portion of the LP fees,
a big portion of the business-to-business sort of launchpad and pool fees and everything else
into a pool where users can harvest.
And so right now we're actually having a pre-sale.
So we're having a community fair launch where we're giving away 10,000 JO,
which represents 10% ownership of the whole exchange, plus 100,000 J tokens.
And that's a community fair launch.
So basically, people can contribute unlimited Ether in exchange for J and JO tokens.
And we take unlimited Ether for three days.
And then the launch is at 3x public sale price for J tokens.
So we're taking 80% of the Ether that comes in and launching liquidity at 3x the public sale price,
whatever the public sale final price happens to be.
And the J tokens get released vested for 40 days linearly, so 2.5% a day.
Now, if you want to participate, go to Janis.capital.
That's J-A-N-I-S dot C-A-P-I-T-A-L.
And just click the community fair launch button.
And so, again, we are accepting unlimited ETH for three days, but that ends in four hours.
So if you want to do that, you do still have four hours to do so, but you should do your research kind of quick.
But so the guaranteed 3x, just a little bit more about the guaranteed 3x, like how is that even possible?
You know, like how can you guarantee a 3x?
Well, there is just some math and a contract that we've had audited by PeckShield.
We did a PeckShield audit for our community fair launch contract and all the DEX contracts.
And so they verified this.
So it doesn't really matter how much Ethereum gets put into the fair launch, you know,
because people are bidding on a pool of 100,000 J tokens.
So based on some math that we did, we can just hold back a certain amount, which happens to be 29%,
and add liquidity with that using 80% of the ETH that comes in.
And using that formula, we will have launched liquidity at three times whatever the public pays.
So this sort of guaranteed 3x can accommodate sort of an unlimited amount of ETH.
But the guaranteed 3x is actually sort of better than that, because so we're counting only J tokens,
only Janus tokens in the guaranteed 3x formula.
We're counting it so that you get JO tokens for free.
So again, we're giving away 100, we're bidding on 100,000 J tokens and 10,000 JO.
The JO are Janus owner tokens, which will be stakeable for dividends.
We also have a J dividend pool, but JO gets most of the dividends.
And we are giving those away as a free bonus, basically.
So the 3x applies only to J tokens.
The JO tokens are not vested.
So you get the JO tokens instantly.
So the entire time the DEX is in operation,
you'll get to stake the whole amount of JO tokens that you would get.
Okay, so also, what else separates Janus DEX from other DEXs currently on the market?
Well, so currently, many DEXs on the market have a clumsy way of sort of splitting liquidity.
Like, you know, you see, for example, ZyberSwap.
They run version 2 and version 3 of Uniswap side by side.
So they have different LPs for those.
So each of the LPs is going to be thinner, and you have a confusing UI.
Well, and then, so there are some DEXs out there that sort of don't really attempt to accommodate Uniswap V2.
So currently, Uniswap is really just completely on V3.
So if you have like a V2 compatible Yield Farm, Tomb Fork, or any of those other protocols,
like a vault that uses Uniswap V2, you can't really use it on Uniswap V3 anymore.
So what we are doing is, so for now, our LP system is going to be completely compatible with Uniswap V2.
But so for the second version of Janus, we're going to have a code base that accommodates both Uniswap V2 and V3 commands using the same LP.
So we believe that it's possible to have Uniswap V2 compatible commands on the NFT concentrated liquidity system.
The main way that Uniswap V2 and V3 are different is that Uniswap V2 uses ERC-20 tokens as LP tokens,
and Uniswap V3 uses NFTs as LP tokens.
So those NFTs from Uniswap V3 allow you to set the concentrated liquidity ranges,
but so Uniswap V2 is more set and forget.
So you can add liquidity and you can remove liquidity, but you can't set a certain price tick range.
So we would like to have both options, basically, available on the same LP.
And so that's what we're going to do with Janus V2.
But for now, we believe that sort of being able to set and forget is more important.
And we believe that many LP'ers want to set and forget.
So we are going to be compatible with Uniswap V2.
So another way that Janus is going to be sort of distinguished from many others is that
so we have a thing called extinction pools,
which so we have a separate pre-minted supply of J tokens,
which we can then issue pools for.
And so we can actually, we can remove our own tokens from the market this way,
and we can offer pools that sort of don't affect the other multipliers.
So this was a thing that a DEX called Dinoswap had,
but that allows us sort of more control over the supply.
We can issue pools to remove a certain token from the supply.
Also, so we have yield boosters from Farmerland.
So we have NFT yield boosters, five yield booster slots per farm and pool.
And so you can get the yield boost, the yield boosting NFTs at farmerland.gg.
So we have four different kinds, farmers, minotaurs, land, and tools.
And so farmers, land, and tools can be sacrificed to make minotaurs.
And so the base boost rate is 1% for farmerland and tools and 2% for minotaurs.
And then you get a bonus for the stats.
So you can use the farmerland native token wheat to increase the stats of your NFTs.
And so we can actually make a pretty engaging like P2E, like play-to-earn gaming experience out of Janus
because of what we have already going at Farmerland.
So we believe that Janus stakers will enjoy engaging with, you know, the gaming aspect of Farmerland.
And even though, so the overall yield boost you can get is only like 12%.
So, you know, it's not a huge difference, but it does help.
So we believe that having a real true play-to-earn experience for the NFT part is a differentiator.
Also, so we have some launchpad projects, which are both, you know, we know everybody has a launchpad, but so what projects?
So we do believe that we will be amenable to externally launchpadding, you know, other projects.
You know, other projects will be able to come to us and say, hey, you know, they would like to do a token raise through us.
They would like to fundraise.
They would like to launch liquidity.
They would like to lock liquidity for a certain period of time.
You know, they could have milestones.
They could also get a farm or pool, like an extinction pool for their token through us.
Like, so you might have said, well, why are extinction pools important?
Well, if we have a partner who's launchpadded through us and their token isn't doing very well, like if too much is hitting the market, we could actually run an extinction pool where we could accept their token as deposits.
And then those deposits are never returned to the depositors.
Instead, they will be emitted J tokens as a reward for removing those other tokens from the supply.
So, you know, we can provide a whole suite of launchpad services and, you know, we can be amenable to community projects on Arbitrum, which is, you know, is a very good ecosystem.
And lots of projects want to come to Arbitrum, but really don't have a way to because they lack launchpad opportunities.
You know, for example, like the GMD, GND launchpads are successful, but they only really want to launch launchpads for projects that build directly on their protocols.
So what about, you know, regular community projects?
It's not exactly easy to get accepted as a launchpad project.
You know, I've been in a situation before where, you know, I tried to get launchpadded and, you know, others wouldn't accept me, you know.
So I know that I have the perspective of, you know, someone who actually runs projects and has, you know, purchased pools from someone who runs a DEX.
You know, many people might wonder, like, what is the B2B aspect?
Like, how can you make money as a business running a DEX?
Like, how does PancakeSwap make money?
Well, they auction off farm slots every month and they auction off syrup pool spots.
So they basically get a bunch of free tokens and free money from other businesses in exchange for just offering pools that crap out cake tokens.
And so, you know, it must be nice to run a DEX, right?
It must be nice to own it.
Well, that's why we are giving users a chance to own JO tokens.
Of course, you know, the creators will be major JO token stakers as well, but that's what you want, you know.
The creators and the users are harvesting dividends the same way, you know.
So all the money that we bring in from offering launchpad services to pools and all that, it's going to go directly into the JO and J revenue pools.
And so, again, just in case you got here recently, we are having a community fair launch, which is like a presale today.
And it ends in four hours.
So if you go to Janus.capital, J-A-M-I-S.C-A-P-I-T-A-L, you can click the community fair launch button and you can see that users are bidding Ether.
So we're accepting unlimited Ether in exchange for a pool of 100,000 J tokens.
And users get a certain amount of that that would result in a 3X.
Also, we're giving away 10,000 JO tokens as a free bonus.
So what I'm saying is when you bid on J tokens in the community fair launch, you actually get a guaranteed 3X.
And so this community fair launch formula is actually sort of inspired by something that Grizzly Phi did.
So based on the math of, you know, it simulates users buying into a pool of 100,000 J tokens, but everybody gets the same price.
So usually when you have what's called a fair launch for a token, everybody bids at a different time.
And so everyone gets a different price.
And usually regular users lose out to bots.
But so in this community fair launch, we are accepting unlimited ETH from everyone for three days.
And then everyone gets the same price on the amount of tokens that everybody bought.
We also launched the token at 3X, the public sale price, the J token.
And the tokens are emitted for 40 days, 2.5% a day.
So it's not like the token is just going to crash right away because nobody is going to have really bulk J tokens that could be sold because it's all being emitted for at least 40 days vesting, at least 40 days vesting.
Um, and then, you know, there will be some emitted by farms, but at first, you know, community fair launch will be the majority of the emissions.
And so it sort of simulates sort of a slowing down of the fair launch process, if that makes sense to you.
So for three days, everybody buys, and then the price goes up to 3X.
And then for 40 days, all the tokens are emitted.
Kurt, I was wondering, with the pre-sale, some investors would be happy to go to the website and connect the wallet.
Others wouldn't want to connect the wallet to a website they've not been to before.
So what's the next stage for investors?
Is it going to be a launch pad or you go to next?
Or is it going to launch straight to the arbitrant chain?
So after our community fair launch, that is the launch pad.
So that is a contract that launches J liquidity one hour after the pre-sale ends.
So at 5 p.m. Eastern today, the pre-sale will end.
And then at 6 p.m. Eastern, J token liquidity will launch with 80% of the collected ether.
And also, J.O. tokens will all be released.
So we would like people to go stake them in the J.O. ownership pool.
But, you know, of course, you can sell them if you want to.
So basically, the launch is today.
Yeah, I mean, there's no more launch pad after this.
And are there any governance mechanisms in place?
How can token holders participate in decision-making processes?
So actually, so one cool thing about governance, token governance is we can do it through snapshot.org, which is so snapshot.org can accommodate like any token, really.
You can call a vote for any token and you can use code on snapshot.org to sort of determine exactly what qualifies for votes.
So we will, so when we have votes, which, you know, we'll, we will take votes on, you know, important issues related to the ecosystem.
And we've done that before, we did many votes for a DAO we ran called Minotaur Money.
And so we definitely know how to run governance votes on snapshot.
And so we can, we can also collect, we can also convene, you know, relevant votes.
Like, so for example, when we did votes, community votes on Minotaur, we actually voted on whether to release an additional NFT set.
So we had sold out the majestic Minotaur NFT that we voted on whether to release another set.
And the vote was actually like less than 50%.
It was decided by less than 1%.
So, I mean, we know how to convene votes that actually generate meaningful debates.
So, yeah, we're excited to have the opportunity to do governance.
And so we think both J and J-O will be counted in the voting formula.
And we touched on the launchpad there.
What is the process for listing the token on Janus?
Are there any specific criteria or requirements that projects need to meet?
So for listing a token on our DEX, you can just do that.
That's completely permissionless.
So if you would like, if you are a project runner and you have listed a token on our DEX or are about to,
and you would like token whitelisting, like, you know, if you want your token logo to show up,
we are going to provide a way for you to commit that to us.
And so the process of listing a token on Janus is just completely open and free to everyone.
So as far as, you know, getting a farm on Janus.
So if you are listing a token or have listed one and you want a pool or farm, we can work that out with you.
So there are many DEXs where, you know, you have to do stuff like do token bribes or they have, like, some overwrought procedure.
And then there are some where you just can't get pools.
But, you know, we will be willing to work with projects who come in and want a farm.
And so that's part of the B2B income plan.
You know, we can get their tokens paid to us or some cash.
And then we can distribute those to J and J-O dividend recipients.
But so if a project wants to launch pad with us, you know, there will be some vetting.
But once they're accepted, they'll be able to do lots of good stuff through us, like, you know, get farms and pools for their token.
They'll be able to have a pre-sale contract with us.
We can launch their liquidity.
We can lock their liquidity and, you know, customize it to what is right for the team.
And what measures does Janice take to prevent scams and rug pulls within its ecosystem?
How do you protect investors from fraudulent projects?
Oh, so in terms of launch padded projects on our ecosystem or in terms of us being frauds?
You know, projects launching on the launch pad.
So, I mean, so personally, I believe that I have a very good, like, sense of smell about what projects are going to rug pull.
But so if there's a project who wants to launch with us, they will have to choose whether we lock their liquidity.
So if we lock their liquidity, then, you know, their liquidity will be locked.
Could they then, you know, print their tokens and dump them?
Well, maybe, you know, we could, but so we could also require them to sort of renounce token minting abilities.
So we can sort of use our administrative ability to, and we can use sort of our, the fact that we have a very good developer on board who understands all the intricacies of token minting.
So we can use that to sort of head these things off at the pass.
So, you know, and we can also come out with reports to the community of how secure things are.
Like, you know, if, you know, if, if the project has the ability to mint tokens, you know, then we can inform the community of that.
So, you know, it is crypto, it is hard for, you know, projects to ensure that they will do well, but, you know, we can actually do a lot on our end to protect against sort of common scam vectors.
You know, if they are working under us as a launch padded contract, we can implement, you know, whatever requirements security wise.
We can, you know, we can require them to renounce token minting ability.
And can you talk about any partnerships or collaborations that Janice established within the crypto industry?
How do these partnerships benefit the platform and its users?
So basically, so we have done, you know, lots of promotional appearances, like, you know, for example, Rebello Intel had a piece on us.
We've had, you know, several YouTube videos, et cetera, about Janice.
But so I guess our most prominent source of users is sort of our other projects.
So we as a team have run several other projects and some of the other projects are getting direct utility in Janice.
Like, so for example, our users from the RB10 finance project are getting what's called a receipt token pool.
So when you stake your LP tokens in the tomb fort called RB10 finance, you get a receipt token, which isn't like you get another token and you can stake that somewhere and then effectively receive double yield.
So basically all users of RB10 finance are going to end up using Janice.
They are all going to be depositing in our pools because they get additional yield for free.
Also, so Farmerland users who are users of our P2E NFT game, which has sold, you know, over, you know, 1500 NFTs plus or something like that.
Um, are all going to be, you know, highly encouraged to come over to Janice because they will have a wheat extinction pool and also the Farmerland NFTs are yield boosters.
So the Farmerland sort of game actually, uh, gives the NFTs stats, which are actually then red on Janice, which give you extra boost.
So the Farmerland game is going to be like really strongly related to Janice.
And, um, really, I think almost all the users are going to convert.
So, um, also, so we are in talks with lots of other sort of, um, potential launchpad projects.
So there are both external and internal launchpad projects that we could do.
And so, um, some of them, uh, we believe are going to be like pretty big projects.
Like, so for example, we hope that we're going to have the first Libra finance fork on Arbitrum, which Libra finance is really big on Ethereum right now, but they're only on Ethereum, not Arbitrum.
And I was reading as a referral bonus for the Janice decks, uh, how does that work for investors and influencers that, uh, what sort of, uh, bonuses to put together?
So there's actually a bonus that is a two-sided referral bonus.
So there's bonus for the referrer and also for the person who gets referred.
So if you use anyone else as your referrer, you get 2% extra.
And if you refer someone else, you get 3% extra of what that person earns.
Um, and also this does apply to the community fair launch.
We did make it a read in that.
So you'll be able to collect those, you know, whenever you interact with the contracts, it will just automatically send you extra coin.
And I was intrigued when I looked at the web.
But if you just go to the referral page, just go to Janice.capital, J-A-N-I-S dot C-A-P-I-T-A-L and click enter app and then referrals.
You can click your link or see who use your referrer right there.
And I was intrigued by the, uh, Janice Joplin on the website.
I was wondering, is there a team member, uh, that's, uh, a fan or is there a story behind it?
Um, well, we've done a few different projects that were themed after bands, but also, so there was something called Janice Capital Group, J-A-N-U-S Capital Group, which was actually like a very successful mutual fund.
And it got merged into another, you know, big financial group, but sort of like people who are like actual financial nerds and who know a lot of businesses from the United States would know of another company called Janice Capital Group as well.
And what's the best way for the communities to get involved with Janice?
Uh, where are the social channels and communities, uh, where do they hang out?
So I would say that most of our, um, community is on Telegram, which, so you can actually find all of our links.
It's, it's better for me not to spell them out.
Just go to Janice.capital, J-A-N-I-S.capital.
And you can find the links either on the docs or the website.
But I would say right now, most of our community hangs out on Telegram, but we also have Discord, which, you know, so if anybody ever has questions,
we do have a modded Discord where we will answer your questions and, but Telegram is where generally like everybody is there and we'll answer your questions right away.
Um, also we do have Twitter, which, um, of course, um, and we have a medium as well.
Although we don't, you know, post that often on it, I would say Telegram is where you can usually get ahold of me right away.
If you have any questions.
And I was wondering if you got educational resources for new investors, uh, for the decks and tutorials.
So as far as tutorials, you can go to, um, docs.janice.capital.
And you can see all the information about Janice in particular, but so we don't have that much of like a new user tutorial, but, but again, so we do have like some extra dialogues to take care of common pain points.
Like for example, liquidity, um, tokens, not showing up, however, so we do have, you know, assistance available, you know?
So if anyone is wanting to, uh, do some operation and needs help, please ask us in our telegram or discord.
Also, uh, we, our front end is really mostly forked from Uniswap.
And so the farms page is actually forked from iron finance.
The farms UI is pretty simple, but then the liquidity, add, remove, and swap UI is really forked from Uniswap.
So if you want like a beginner guide, like any that involves Uniswap will pretty much apply.
And I was wondering, how does it differentiate itself from other decks platforms in the market?
So, um, you know, but here's a fun fact for you.
Did you know that Uniswap to this day has never paid its uni holders a dividend?
Most, uh, decentralized exchanges on offering it as a community, uh, where they can get the,
Could you sort of maybe break that down?
Um, you know, if I help own 0.1 or 1% of the supply, what, you know, I could sort of be generating in the future.
And so that's the thing is that we are actually distinguished sort of in the type and level of user dividends we offer.
So there, like I said before, I was trying, I was explaining before, you know, there are some dexes that claim they have dividends, but really the dividends are pretty like weak sauce.
Like, for example, if you stake boo token from spooky swap and you get X boo, you can then stake that in a pool, which would then give you some APR.
But then that pool is usually just some tokens that they were given for free by another project.
So really they're not giving you, you know, much of a real dividend at all.
Um, like, and then Uniswap just plain old doesn't give you a dividend like they, you know, Uniswap token to just has never, uh, paid a dividend.
And they recently had a governance proposal to give or not give, uh, a dividend to Uniswap token holders.
And they're not going to give it, it failed.
And so we are going to have, uh, both J and J O dividend pools.
And so you can actually see a flow chart.
If you go to docs.janus.capital, and if you scroll all the way to the bottom of the first page that loads, there'll be a big flow chart right there.
And so you'll see that sort of like 67% of all LP, uh, of all, you know, outside revenue and sort of a very high percentage of LP fees and also, uh, a very high percentage, 67% of deposit fees go to the J O ownership pool.
And so if you own 1% of what's in the J O ownership pool, you know, you would then get 0.67% of, uh, all B2B revenue, all deposit fees and, um, and, you know, a big portion of the LP fees as well.
So, uh, we, we take big portions of everything that comes in and we take basically whole, we take whole line items that aren't usually up for grabs and we give them to the J O and J pools because sort of, I guess, again, the creators are going to be major J O stakers as well.
So, you know, we're not going to be, uh, so, you know, of course, if we just took all the money that came into the decks and just gave it away to regular users, then we wouldn't, uh, be motivated.
But so being that the creators are staking in the J O and J dividend pools, we can give them like, you know, 67% of all outside revenue and, you know, a huge amount of the, the revenue from, uh, LP fees as well.
Um, so you can actually click the docs from the hamburger that loads on Janus.capital, but you can see 50% of all LP trading fees go to the J O ownership pool and 33% of all revenue sharing of all LP fees goes to the J pool.
Those pools emit wrapped ether. So when you stake in those J O and J ownership fee pools, you don't get just house tokens out, you get wrapped ether. And so, you know, you can just take whatever percentage of that J O ownership pool you have and multiply it by 67%. And that's what, that, that's what percentage of the outside revenue you get. It's a pretty simple formula.
I see. And is there a maximum wallet because, uh, so it's diversified the, uh, community owning, uh, part of the decks or, um, you know, what's to stop sort of someone buying 10 or 20% of all the tokens and, and, uh, having a massive advantage, you know, in voting rights?
Uh, there's nothing stopping that. So there's no max wallet. So I don't really believe that max wallet really does anything because so if someone really,
wants that much of a share, like they will sort of accumulate more anyway, and sort of, so that's why I think sort of no big projects really have a max wallet. And so in my opinion, I guess sort of max wallet is sort of like an amateur hour thing to have, like, it doesn't really do anything. Um, like, you know, in almost all systems where there are max wallets, you have people running multiple max wallets.
So, um, if somebody, so here's how I would explain that concern. So if somebody actually cares enough to accumulate that many tokens, I would say we have bigger problems. Like, so, you know, like if somebody actually buys all those tokens and then wants to vote with them and not sell them, then we're all going to the moon anyway.
So who cares basically, you know, I mean, if that person really is vested in interested enough in the community to buy up everyone's tokens, then I say, let them have the votes.
Okay. Yeah. Fair enough. Good answer. Um, and going forward after launch, you're going to be launching later on tonight. Uh, what's the plan to say over the first quarter to promote the, uh,
Janice decks and the tokens and the platforms? Well, okay. So I can tell you that, um, as far as, you know, as soon as we are in business, like as in, okay. So over the course of today, like even right now we are launching websites, you know, that's why Wojak can't be here. He would love to be.
It's just that he's like just now uploaded the info site. So, you know, how the decks has a site with the info on all the pairs and all that. Well, we just uploaded that just now. So, you know, we're getting operational right now. And so that's like what we're doing at the moment. But of course, this is pre launch period. So right after the launch, we will have a brand new shiny decks and, you know, we will have some nice farming rewards.
So hopefully some decent liquidity and, you know, then hopefully we will start to engage with outside projects, which will start to, um, do launch pads with us. The outside revenue will be going to J O and J holders, which should hopefully, uh, encourage them to stake more. And so the J reward should be worth a good deal. And we should be in, uh, encouraging in like, you know, outside vanilla yield farmers who want yield.
We should hopefully be rising to the top of DeFi lemma, you know, yield columns, you know, being new and all, and, you know, hopefully the system should start to work also. So internally we have a development plan. Like, so for example, you remember I said, we have sort of internally launch padded projects that we want to develop as well.
So we believe that in the next few weeks after we launch, we are capable of launching a Libra finance fork on Arbitrum, which, uh, would basically mean, uh, we would have a liquidity fork. Have you heard of Libra finance before?
I have. Yeah. Yeah. Yeah. It's been popping up a lot lately. Yeah.
Really? Well, so I, uh, so D I think probably users might be able to use like a light explanation of what it is. Basically it's a collateralized stable coin.
So you collateralize ether, which then becomes staked ether tokens, S T E tokens. And then you can borrow a stable coin against that vault. Now that vault can be liquidated, which is profitable. Um, but as the, if the, if you have your stable coins, you can then, you know, stake the stable coins.
And the thing about Libra finances, the stable coins have a guaranteed yield because so the ether underlying the collateral becomes staked as S T E tokens. So that means that the stable coins that are issued have like an intrinsic APR of like 8% or something like that.
So that's like pretty good. Like people are really enjoying that. And, um, um, the point of that is as Libra finance, uh, hasn't really launched on Arbitrum yet, I guess maybe they plan to, but we think that we can launch quickly because, um, actually the liquidity finance front end is fully open source.
So for us, you know, we're actually, you know, pretty good with contracts and you really, you can just fork contracts. So if we wanted to contract wise, you know, it, the Libra finance work would be very easy to deploy. It's just that. So the front end, you know, you, it requires work to create a usable website for users, you know, but in this case, because the Libra, the, because, sorry, because the liquidity finance front end is fully open source.
We are able to, um, we are able to, um, launch, we believe a Libra finance fork on Arbitrum very, very soon. So we believe that that's for sure within a quarter of happening then, uh, along with that. So we want to have, uh, leverage trading. So we want to launch a gains fork.
So that by itself might not be that interesting, but sort of, we can actually, um, do something else with that as well, which, so we believe that we can launch a, an LSD collateralized stable coin, which is not liquidation prone.
So one way of constructing a stable coin, we think might be to generate it by using 50 cents worth of stake ether tokens and 50, 50 cents worth of a one X Ethereum short.
So, um, um, we believe that it might be possible to have a liquidation proof, sort of liquidation free, uh, liquid stable coin this way, but sort of in order to do this, it wouldn't really be possible on gains finance itself because gains finance has really high fees and sort of GMX, I believe has really high fees as well.
So if we launch our own gains finance fork, we could make it customized to be able to give ourselves zero fees when we use it for the purposes of this stable coin.
And so we believe that it is possible to create sort of like an improved, well, it, it, uh, basically an alternative version of Libra finance.
So it would be an LSD collateralized stable coin, but it would be at 50% and also it would be using an Ethereum short to cover half of the value.
Um, and then half the value would be held as STE tokens generating yield.
Um, so that pathway is within like a quarter or so we believe.
So also we have other internally launch pad projects too.
So one thing I have not mentioned is so through Farmerland, we have a passive income generation program.
So the Farmerland game has like a staking pool where you can earn like parts of a, the income from bots that we run.
So we actually run Forex bots.
We do not run crypto bots because sort of crypto coins don't really have a, uh, enough of a mean reversion tendency.
But so we have a really good bot, uh, that we have found, uh, arrived at, which it does like 3% per week or more.
And we would like to come up with a fiduciary investing contract for that bot.
And doing that would get a lot of assets under our management and doing that is, it's very profitable.
So we believe that we can get a lot of like sort of stable income going, uh, by running bots.
And we believe that we can come up with a better kind of passive income contract.
Um, and sort of, we have other ideas for launch pad projects as well.
And even some that may end up on the cutting room floor, but you know, uh, we really have a, um, uh, good pathway of development coming forward.
Also, so we also believe that we're going to be developing a whole blockchain soon and sort of Janice is we want to deploy as, as the core decks on that blockchain.
And sort of when we do multi-chain deployments, you know, we can also deploy on like the flavor of the month, you know, so within a few months you might see us jumping on, you know, ZK sync pulse chain or whatever is the next flavor of the month blockchain.
And, you know, when we do that, uh, you know, probably if, you know, so if you are a Janice owner token staker, you will get some fractional JO tokens on the new blockchain as well.
So really the JO tokens that you're buying with this community fair launch today are like a multi-chain play.
But so then again, we are having a community fair launch, which ends in like three hours now.
So if you go to J-A-N-I-S dot C-A-T-I-T-A-L, Janice.capital, click enter app, and then community fair launch, we are accepting unlimited Ethereum for J tokens for the next three hours.
And you get 0.1 JO tokens per J.
The launch of J tokens will be at 3X, the public price.
So we are going to take 80% of the Ether and 29% of the tokens and add liquidity at 3X pre-sale price for J.
And then we will emit J at 2.5% a day, which for 40 days.
And so everybody will be able to, you know, access the near top price we think.
And also we believe the price will go up when the token launches as well.
So basically, yeah, we really hope to have you with us.
We believe that, you know, having a truly community-owned DEX is a very good thing.
We believe that a DEX can generate tons of income that can feed these ownership pools.
Like, for example, so did you guys know that ZyberSwap reached $3 billion in trading volume the other day?
I mean, that's crazy, right?
Because you think of ZyberSwap as, like, you know, it's just a community DEX.
Like, it's not really, they didn't really come from VCs or anything like that.
You know, they're just ZyberSwap.
And they reached $3 billion in trading volume.
Well, you know, that's, to us, that would represent over $6 million in fees or something.
And so, you know, if that much comes into the J and J-O revenue pools, you know, you can just do the math on, you know, how much you're going to get based on how many J-O tokens you have.
J actually has an unlimited supply, but it only comes out so quickly.
Like, so at the beginning part, most J emissions are going to be community fair launch emissions.
Okay, let's open up to the audience.
Let's see, we've got Asia here.
You've got a question for Kurt at Janus.
So, according to the information provided in your documents, Arbitrum Janus Text features pools that accept ERC-721 NFTs.
Specifically, the initial NFT pools are designed for formal land NFTs.
I would like to inquire about the functionality of these formal land NFTs within Arbitrum Janus Text.
Are they solely eligible to be staked as yield boosters in the DEX pool and forms?
Or can investors also utilize these NFTs as collateral to borrow J or J-O tokens?
Well, thanks for the question.
We do not have borrowing of J or J-O tokens with NFTs, but we have pools.
So, you are correct to identify that we have NFT pools.
So, this is another way for us to generate B2B income.
We have the ability to give regular MasterChef multipliers so we can create regular permanent pools for NFTs.
So, we are actually going to do that.
So, we are going to have four NFT pools to start.
Farmer land tools, land, farmers, and minotaurs.
So, you will also be able to yield boost with farmer land NFTs.
So, we probably aren't going to have any other yield boosters to start, but we will be able to have other NFT pools.
So, this actually is really a great feature of Janus because it allows us to add utility to any NFT set.
So, many NFTs are just, you know, an NFT set, and they don't really have any steady income that goes along with holding those NFTs.
But if the NFT project teams come to us and request pools, we can make a deal with them where we collect a fee and emit some J tokens and collect their NFTs as deposit.
And believe me, so, I know in the past, I've had, you know, NFTs with pools like that, and the users really, really do appreciate them.
So, this can be a great source of that outside B2B revenue that basically will come in and feed the J.O. and J.O. ownership pools.
Thank you so much for answering.
Thanks for the question, Zenshi.
Next, we've got Captain Levi.
I do have a couple of questions.
You made a lot of really powerful statements during the AMA.
I did take a few notes down.
I wanted asking if you could make reports.
Earlier, you actually talked about giving reports and feedback where relevant to, you know, your community members.
When, how would these reports be presented?
Is it going to be presented maybe in a live session or is it going to be presented via text?
And can the community members also give you feedback?
And how will community members be rewarded for giving accurate and beneficial feedback?
Well, it will be in the form of a medium article.
So, when we launchpad an external project, we will conduct, you know, an internal review.
And so, we will, you know, give our users a prospectus on them.
And so, that's something that, you know, so if people would like to provide advice to us on what to include, they can.
But that's not really going to affect, you know, what we have to evaluate.
So, you know, we have to evaluate the risk level of each project that we launchpad.
But sort of, I personally am actually pretty experienced with, you know, evaluating projects.
So, you know, if it's like a tomb fork, then I'll know exactly what to say, which is that, you know, the project itself is really high risk, but the code is the code, you know.
So, if it has a master chef with no rug pulls in it, then, you know, you're not going to lose non-native deposits, you know.
So, that would be a tomb fork.
But then, sort of, like, an ROI contract with a backdoor, it could be a situation of, okay, we will launchpad this, but the project creator can take out every dime of funds that come into this contract.
So, please be forewarned before you invest in this.
You're basically just handing your money to some guy on the internet.
So, you know, if I tell users that, you know, then they're informed.
And so, we will provide them reports, and they will be written.
But so, I guess the key factors are going to be, you know, basically just the risk level.
And we are pretty, we're pretty experienced at determining that.
Wow, that's really awesome.
I do have a couple of more questions, written them down.
I'll be presenting them in your community.
I really appreciate the detailed explanations and the way you clarity provided.
I wish you guys the very best.
And I hope that Janice Dex stays bullish moonward.
Thanks for the question, Captain Levi.
You had a question for Kern.
Okay, I would like to inquire if you have developed any API that allows developers to seamlessly integrate Janice Dex into their DFs and wallets, enabling users to directly access Janice Dex features from various applications.
So, the thing about APIs is, so, the blockchain is kind of like an API.
So, the Web3, if we use the Web3 technology and sort of ethers.js library, you know, other people can actually run a whole Janice front end if they want.
Just like, so, we forked the Uniswap front end by using Web3 calls.
And so, we don't use any Uniswap API at all because we use the blockchain and we just connect that to our own contracts.
So, I guess, if others would like to run a front end that points to the Janice contract, they can do that very easily by just looking at our verified contracts online.
Because, so, all the publicly callable functions are just right there on RVSCAN listed.
And they're pretty straightforward in terms of, you know, what they are.
They're pretty, they're generally pretty similar to the Uniswap ones.
And, actually, it's a good question because, actually, we have done this before.
So, we have actually seen some other community dixies.
Like, when we released RB10 Finance on Arbitrum, we used Zyberswap.
And then their website was kind of like giving people problems.
They had some RPCs on their website that weren't good.
And so, we actually programmed our own front end.
And so, we host our own liquidity, ad removal, and swap interface right there on RB10 Finance.
So, we actually used the Zyberswap contracts right there on our own website.
So, others are more than free to do the same.
Again, so, the Janice contracts are fully open source.
And we are more than willing to whitelist sort of tokens.
So, if people want their token logo to appear on the Janice Capital website, you know, they just have to contact us.
You know, we're not going to charge a fee for that.
But, again, you can run your own front end, too.
We don't, you know, there's no way to prohibit that, even if I wanted to.
Thank you so much for asking.
You had a question for Kurt.
Yeah, thank you so much, Glenn.
With the introduction of NFT yield boosters, it caught me thinking that are you guys exploring the possibility of collaborating with renowned artists and creators to mint limited edition yield boosting NFTs?
Well, so we have some yield boosting NFTs already, and we would like users to sort of accumulate those before.
And right now, we're just thinking about the set that we have.
Because, so, Farmerland, actually, so we have sold out over, I believe, like, something like 2,500 NFTs plus.
It's like 1,500 farmers, 500 tools and land, and, like, at least 100 plus minotaurs, like maybe 130 or something minotaurs.
But we actually haven't sold out.
So, right now, we're actually just fully focused on sort of engaging with the game that we have and the NFTs that we have.
So, you know, we would like to do, like, artists, I mean, it would be nice in the future maybe to explore launch padding some NFT sets.
So, if they would like to come to us and be independently launch padded, we can.
But as far as yield boosters, you know, we don't want to shortchange Farmerland, you know, because Farmerland has a nice game.
And it does have, you know, a good number of users.
But we actually still have to mint more of those NFTs.
So, we can't ignore that.
Okay, and in the extension pools, is it possible to configure the duration and total rate of the reward for sacrificing tokens?
I mean, can these parameters be adjusted dynamically based on the market conditions or specific strategies?
So, with extinction pools, they have a certain supply and a certain duration, which is set at the beginning.
And then that can't be changed.
But sort of, we can set, but we're not going to set them for a really long time either.
Like, so, for example, the first round of extinction pools is 60 days.
And so, after that 60 days, we can reevaluate things, check where the market is, and we can, you know, have the next round account for market changes.
But then, so, also, one fun fact is that, so, we have extinction pools that collect just a certain token.
So, we can remove any token from the market.
But also, so, the J dividend pool is actually an extinction pool.
So, the J transaction fee and revenue sharing pool takes 100% deposit fee.
So, you never get your deposit back, but you do receive credit.
So, the funny thing about deposit fee math is if the deposit fee is 100%, usually the user wouldn't get any credit in the pool.
But so, because of this, because of this extinction fee code, the user still gets credit in that J extinction pool, even though they don't get their deposit back.
So, so, that J pool, the J transaction fee revenue pool is an extinction pool that actually lasts forever.
But the most of the extinction pools are going to be just lasting for a pretty short amount of time, like 60 days, so we can account for market conditions.
So, okay, it makes sense, and thank you so much for answering my questions as well.
Thanks very much for the questions, Venice.
Unfortunately, we've run out of time, but it's been great speaking to Kurt from Janice.Capital today.
You can check out everything over there, read the white paper, and if anyone's got any more questions, you can join the official socials.
We've got the links probably on the website, Janice.Capital.
You can get to that through the official Twitter account here that we were speaking to with Kurt today, and it's been great speaking to you, Kurt.
I'm looking forward to the launch later on tonight, and yeah, take care.