The end-game is to skip exchanges all-together and buy JNT directly through the app, essentially making JNT the one-stop shop that serves every facet of their customers needs. This will be a requirement if we want to see mass-adoption because the truth is that going on an exchange, buying tokens and then transferring tokens to another wallet is too complicated and "hard" for normies to understand.
Of course this is a distant goal, I don't see it happening before at least Q3 this year. Right now they're building out the various services (jSearch, jNode, jClear etc) and doing pilots to see what works and what doesn't. My point is, we're gonna be stuck pegged to Eth for quite some time but it won't be that way forever.
Samuel Morgan
>still have a piece of speculation with some evidence that may moonshot this thing to hundreds if true You sound like Teeka
Daniel Adams
>The end-game is to skip exchanges all-together and buy JNT directly through the app, essentially making JNT the one-stop shop that serves every facet of their customers needs.
this literally makes no sense if you understand what the token is trying to accomplish. It is supposed to be a decentralized bank where you do not get your money from jibrel. Other users are supposed to give you the money since they want the JNT, thus making it decentralized.
Dominic Fisher
What price would the app charge? Market price or a set price?
Nolan Perez
Even if JNT was traded with USD, there would still be a volatility problem. Maybe not as severe, but still significant
Carter Ross
disagree. It would more like a resource or stock in terms of volatily since it is backed by something not not made of thin air like most other crypto.
It is not traditional crypto.
Daniel Scott
Well yeah, you'd think so. Did you see some to the shit that was getting VC funding 4-5 years ago in Silicon Valley? Crypto is like that x10.
Can we all agree that this is a crazy bubble?
Nathaniel Rivera
yah that's what made me kind of irritated with the explanation. adding clarity around the exact role of JNT, the exact quantity of funds being backed, etc would obviously greatly reduce volatility. Defending against soros type attack is a different problem of course.
Easton Wright
Don't think anyone is going to argue with you.
Tyler Perry
What do you mean? The point is that you transfer USD to your jibrel account and it shows up as jUSD which then can be used to purchase jAssets or whatever. The purchase of the JNT itself that backs up the CryDR is handled on the back-end by the DAO.
I'm not sure exactly how they will go about implementing it but I assume it would work like on any exchange where price is dictated by supply and demand.
Yes, the volatility would still be there but it would be drastically reduced in comparison to its current dependency on Eth and BTC.
