AMA with Juggernaut: Combining“DeFi+NFT” on BSC
At 19:00 on Jan 15th, DeFi 7 O’Clock Community welcomed its 32th guest, Nacho LIanillo, the co-founder of JGN
7 O’Clock Community is one of the largest DeFi Communities in the world. It is initiated originally by 7 O’Clock Capital founding members, blockchain industry experts and enthusiasts to share knowledge of DeFi, and accelerate the implementation of blockchain technology in the real world. The community now enjoys 1,000+ subgroups, and covers 20k + active members, with the spread and report of 150 blockchain industry media.
Q1: Could you please introduce Juggernaut(JGN)?
Nacho：Juggernaut is the first Decentralized (DeFi) project that gets rid of the traditional financial industry and enters our daily life. We believe that DeFi can have a huge impact on different fields, such as games and art trading. Juggernaut’s target field is the NFT market.JGN currently supports the two ecosystems of Ethereum and Binance Smart Chain, and is committed to the construction of the next-generation DEFI & NFT.
Q2: What’s the highlights of JGN?
Nacho：JGN helps blockchain and traditional businesses create a new decentralized and more efficient business model by introducing an innovative modular approach to DeFi, a trading marketplace for NFTs, and a distributed autonomous organization (DAO). Here are some examples:
(1) Customize your use case and build your own synth;
(2) Create a new on-chain game model and rules;
(3) Engage in innovative new models on our JuggerSWAP marketplace;
(4) Building a DeFi + NFT trading marketplace;
(5) DAO: Profits are provided directly to users and contributors, encouraging higher liquidity, greater usage and adoption, and exploring a new, next-generation decentralized management model.
Q3: In the DeFi field, security has always been the primary consideration, how about the security of Juggernaut (JGN)?
Nacho： Unfortunately, we have seen many cases of security vulnerabilities in different DeFi projects, so we pay great attention to security issues. Although 100% protection cannot (and should not) be guaranteed, we will audit everything from our token smart contracts (including ETH and BSC) to our revenue pool. We try to be transparent in this regard. We regularly conduct security audits on contracts with Beosin and other top tier auditing firms. Beosin is a trusted top digital security company recognized by top exchanges such as Huobi, Binance and Gate.io.
Q4: The NFT concept has aroused a wave of discussion recently, what do you think will be the future direction of the NFT ecosystem? Do you think that the “NFT+DeFi” model, represented by Juggernaut (JGN), will be the main development direction of NFT in the future?
Nacho：In the past year, we’ve witnessed the fast expansion of BSC ecosystem. DeFi and NFT have caught the eyes of many people, and the demand for it will only grow stronger. I don’t think the ETH network will be the only provider in the future. In our opinion, Binance and BSC chain are good ecosystems which enjoy great potential. JGN focuses on interoperability and cross-chain in DeFi field.
Q5: Could you please introduce JuggerDRAW?
Nacho: JuggerDraw is the NFT blind box game on BSC chain. Using a lottery-like system, JuggerDRAW is the first unique blind box game on BSC.
Since it is based on Binance Smart Chain, it is also a way to test the interoperability of NFT assets.
We launched JuggerDRAW V1 and V2, ALL SOLD OUT! Results are here:
V3 will be launched soon, Stay tuned!
Q6: It is reported that Juggernaut (JGN) has established a partnership with BSC, so can you briefly introduce the future cooperation plans with Binance?
Nacho: JGN’s NFT exchange is the first NFT exchange focused on the BSC. In the early stage, it will focus on collecting cards, game props and art collectibles. Users can buy, create, sell and trade artworks, cards and other types of collectibles on BSC. Early products launched in the NFT market include:
l Card props and limited-edition cards applied in the JGN game
l JGN’s own limited-edition cards
l JGN’s exclusive collaboration with the artists and their artworks
l Partner’s Shops — NFT projects are welcomed to join us
For more plans. Please stay tuned.
Q7: What does the ecosystem of the Juggernaut (JGN) include? What are the economic model and the token distribution?
Nacho: JGN’s vision is to enable the realization of new decentralized business models, where interoperability can make the user experience more useful and funnier, and it can extend the NFT application to new cases. As such, JGN currently supports both the BSC and ETH ecosystems.
JGN’s tokens are divided into two types: BEP-20 (Binance Smart chain) and ERC-20 (Ethereum). We will balance the two tokens according to the market demand. When one is minted, another will be burnt, so the total supply of tokens remains the same.
JGN is already live on GATE.IO and several other decentralized exchanges. JGN (ERC-20) can be traded on Uniswap. JGN (BEP-20) is already live on Bugerswap, PancakeSwap and StreetSwap.
JGN has a total supply of 150 million and it will never increase. According to the token distribution plan, the total circulation currently accounts for about 10%. However, JGN uses a deflationary model. The profits and fees obtained through games, exchanges, etc. will be redeemed in the Secondary Market and then burned so as to increase the scarcity of JGN.
Q8: What is JGN’s future plan?
(1) JGN is expanding on the Binance Smart Chain. JGN cooperates with BSC and will create the first exclusive NFT Exchange on BSC. We will further expand our applications and community on BSC by collaborating with multiple projects in the BSC ecosystem.
(2) JGN is committed to seeking more art, music, and video game collaborations in the NFT field.
(3) More plays coming soon, including a focus on video game assets and extension in DeFi!
We have a private announcement for the 7 O’Clock community!
We are excited to announce that our exclusive NFT Exchange on BSC will launch in the next week! It is called JuggerWORLD, the platform where the #BSC community trades NFTs.
Another surprise just for you guys:
We have been developing JuggerDRAW V3 with a very strong project in the BSC ecosystem: Thugs Finance.
The third version will be called ThuggerDRAW! Thugs Finance will be the exclusive sponsor and licenser of this new game.
In V3, DRUGS (the native token of Thugs ecosystem) will be rewarded to users. An exclusive Thugs NFT Collection will be offered as part of this and available for trading in our upcoming JuggerWORLD NFT exchange.
Q9: The last question, do you have any opinions and understandings about DeFi?
Nacho：Decentralization will continue to be the core of blockchain projects. With DeFi and NFTs, there are a lot of new opportunities to explore.
According to Defipulse, loan DApps account for the largest share of the DeFi market; and MarketWatch forecasts that the DeFi loan market will reach a valuation of $8 trillion within the next two years.
While developers and entrepreneurs work toward improving the popularity of the DeFi market, DApps still require some work in making them more practical for common users. Several commentators (like CoinTelegraph) agree that improvements of the in-app user interface remain a key factor not just for DeFi products but for blockchain DApps in general.
The problem with DeFi right now is that it’s really only used by crypto enthusiasts in developed countries. UI issues remain as one of the four weaknesses for DeFi. To offer facilities for novices as well, the user experience needs to be improved from both the user interface and ‘requisite knowledge’ level.
Moreover, as DeFi and NFT grow further, BSC and the traditional market (including artworks and collections, etc.) will embrace more chances by opening access and interoperability.
At the end:
Don’t miss the upcoming JuggerWORLD! The first NFT exchange for the BSC community.
And if you want to play blind box game, be ready for ThuggerDRAW. Exclusive collection, instant cards, big prizes and a lot of fun!