Jax.Network roadmap update
As we’ve entered the new quarter, let us share some things you may expect from us moving forward into the year. Starting with a roadmap, we will be updating all our websites and resources to provide more information about our current plans. Read this article to get an insight into our plans.
Before we delve into the specifics, we would like to acknowledge and apologize for the lack of communication during the previous quarter. We encountered some obstacles and had to dedicate all resources to overcoming them in an efficient and timely manner. Thank you for your patience!
Unveiling our product market fit
During the past 5 years, Jax.Network has transformed from a revolutionary idea to a revenue-generating system. We have built a complex ecosystem of products and services based around our energy-based stablecoin JAX, which provides the ability to hold local fiat in a censorship-resistant way. We knew that in our effort toward stablecoin adoption, we needed to bring in hundreds of millions of dollars in liquidity to maintain the peg. We had only two options to achieve this liquidity, either to raise liquidity the way LUNA had done or build a use case. As you know, we chose the second option and started to build a peer-to-peer cryptocurrency arbitrage trading system in late 2022 to provide the entry point of fiat to stablecoins — i.e the order book on P2P exchanges.
So, what exactly are these trading bots? Think about it, you have a bank account and you have a crypto exchange account. You could sit down in front of your computer from morning till evening and find opportunities to buy stablecoins for cheap and sell them for more. We automate this to an extent where your intervention in the P2P arbitrage trading process is minimal while the income is the same or even more. Regardless of what tokens we trade on the P2P exchange, there will be a hop in our tokens in the early stages. This should generate the much-needed volumes, yield, and hence liquidity for our stablecoins. From here, we can go on to request exchanges to list our stablecoins in their P2P order books as they would be confident about the peg by this time.
This solves a huge problem in the crypto space, namely fiat to crypto on-ramping. This also helps exchanges bring in more liquidity and serves as a sort of “cashier-as-a-service”. This way, exchanges could allow users to hold and trade currency in their local currencies rather than USD.
The P2P system has worked fine all this time within the Indian market and processed $100M+ in P2P trading volumes over the last year. As soon as our stablecoins are adopted, a part of the transaction fees generated on chain will be paid out as yield to WJXN token holders and we should come down to a yield-based token model. For those of you who haven’t been following our project and chats over the years, we have always built our token market cap model on the basis of the yield that we plan to pay out.
We believe that a token’s market cap, especially one that promotes a model such as ours, where our stablecoins could be used universally, should be at least around 100 times the monthly yield. Why so? The real estate rental income around the world is around 6%. However, the property itself appreciates and it’s a physical asset. Our tokens could also appreciate in value but they are digital assets; so, assuming a 100x on the monthly yield sounds fair for the market cap of our token. For example, if the monthly yield we paid out was $1M, then we would expect our market cap to be around $100M.
This brings us to the KPIs we are looking at as we progress to enter into the stablecoin markets using this trading software. They are:
1) Transaction volumes on chain
2) UBI beneficiaries count
3) Transaction fees collected
4) Yield paid out
5) BTC hashrate % that merge-mines JXN.
Our new roadmap
We have discovered an enormous product market fit and we are going to scale up in this direction. We expect this market to bring us good results and now our immediate focus lies in executing a short-term plan that includes burning pool development, UBI program resumption, and scaling the operation of our P2P automated trading system. Feel free to take a glimpse at our new roadmap and share your thoughts in our official Telegram chat.
Conclusion
In essence, our primary goal is to continue scaling up volumes on P2P exchanges, starting with all stablecoins transitioning through our stablecoins and ultimately adopting our stablecoins exclusively once exchanges integrate our cashier-as-a-service option. While we acknowledge there’s still much work ahead, our motivation has never been stronger. We extend our heartfelt gratitude for your unwavering support. Let’s seize this bullish momentum together!
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X: https://twitter.com/CommunityJax
Telegram Channel: https://t.me/jax_network
Official Telegram Chat: https://t.me/jax_chat
Facebook: https://www.facebook.com/network.jax/
