Jarvis jFiat mining pool and lending pool on Polygon

Author: Jarvis Network

Compiled by: ChainCatcher

We are excited to announce that following the recent deployment of Midas Capital on Polygon, we are once again looking to launch a new lending pool on Polygon and provide seed funding for it, which includes all of our jFIAT and yield LP tokens! Starting today, users can take advantage of various features of the Jarvis jFiat mining pool on Polygon, such as: leveraged long/short trading, earning yields on all jFIAT, using LP positions as collateral while continuing to earn LP rewards, and borrowing in multiple currencies, etc.

Midas Capital is a permissionless money market that employs an isolated pool model. Midas is utilizing a tokenized vault standard that allows users to tokenize their single-asset farming strategies and use them as collateral!

Two months ago, we launched the first jFIAT mining pool on Midas Capital on the BNB chain. Learn more:

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On the BNB chain, the jBRL market was seeded using Synthereum's currency printer after governance voting. $220,000 of jBRL has been minted and directly deposited into Midas. Currently, 34% of the liquidity is borrowed by users on the BNB chain. Learn more:

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While Synthereum's ecosystem on the BNB chain primarily revolves around jBRL (thus providing liquidity only for that market), on Polygon, our ecosystem is more dense, with more jFIAT and liquidity, offering a wider range of asset choices for various use cases.

Among all the use cases outlined in the previous article, two are particularly interesting and powerful when combined with the ability for users to deposit Curve's LP tokens (2eur, 2jpy, 2cad, 2nzd, etc.) as collateral, effectively earning yields while borrowing.

For the seed pool, governance has approved the use of the Direct Deposit Module (DDM) with the currency printer. Approximately 1.3 million jFIAT has been minted and directly deposited into Midas, providing liquidity for borrowers.

Midas Capital is a DAO within the Tribe DAO ecosystem, bringing Rari Capital's Fuse pools to EVM-compatible blockchains. Fuse is a permissionless money market that allows anyone to create customized and isolated funds to lend any asset. Pool creators can flexibly modify various parameters (interest rate curves, oracles, collateral factors, etc.) based on their risk preferences.

Jarvis Network is a set of protocols and applications on EVM-compatible chains that connect legacy finance and decentralized finance (DeFi). Its mission is to build an infrastructure layer that anyone can leverage to develop use cases that facilitate DeFi adoption and build applications to attract the next billion users. Its first protocol, Synthereum, pioneered an innovative and capital-efficient way to issue and exchange synthetic fiat currencies called jFIAT, thanks to a fully on-chain foreign exchange market. jFIAT is designed to be usable stablecoins: they maintain their peg, are highly liquid, and scalable.