Jumbo DeFi AMA Transcript

"Different from the previous Defi platform, on which the liquidity provider gets rewards by renting liquidity to the platform. Jumbo adopts a brand-new model to reward the users who are willing to sell liquidity to the platform via bonds."

By
BSCNews
on
November 16, 2021
Category:
AMA

Andrew (BSC.News)

Hello everyone and welcome to the AMA with Jumbo! 

Today we have @jumbo111 joining us to talk about their exciting project!

Great to have you here :)

Jumbo

Hi

Andrew (BSC.News)

Okay great!

Jumbo

Everyone! I'm JumboDeFi

Andrew (BSC.News)

So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway. Sound good?

Jumbo

Yeah, let's go


1. What is JUMBO?


Jumbo

Jumbo is an OHM hard fork project based on Binance Smart Chain. Originated but different from OHM, OHM and other hard fork projects all rely on the stable token itself as the main source of income, and Jumbo uses OHM's coin offering mode as a token offering model.

Actually, we aim at establishing the DEFI 2.0 model. To form our moat through self-built mobile pools, and to buy back and increase the market value of JUB's treasury through all the exchange fees.

Andrew (BSC.News)

Okay nice, thanks for that introduction!


2. What is the token offering model?


Jumbo

The earliest coin offering mode may just be airdrop, in order to get the opportunity of fair participation in the early stage. After DEFI came out, YFI brought the concept of liquidity mining. The mining model of one pool and two pools is a coin offering mode, which rewards the early stage users.

But the early stage users should shoulder the risk of impermanence loss of lp in exchange. Essentially, it is a form of leasing, in which users can obtain the "interest" paid by the project party (the mining income of the project token) by renting the tokens in the hands of the project party.

After exploration for more than a year, almost all the items' token prices have to go through a valley-like trend, starting with a high price, then digging more and more, starting to sell, hitting the bottom of the low price, slowly picking up. The whole cycle was quite long, and even some tokens disappeared.

In the mode of offering reserve tokens, the best scheme is that users don’t need to stand the risk of impermanent loss, but only buy and stake tokens to get the rewards, thus encouraging and protecting the early participants.

Moreover, the coin offering model of OHM is to build a token vault by selling instead of "leasing" the token assets of users, which can be used as the token price support and liquidity of the project, so that there is no risk that many users will dismantle LP to further reduce the coin price due to the decrease of the coin price. 

Andrew (BSC.News)

Okay for sure!


3. What are your advantages?


Jumbo

1. Team: Compared with other OHM hard fork projects in Binance Smart Chain.

2. Model: Compared with other imitation discs, our mode is not a simple stable token mode, but an OHM+uni mode, and it is not only a simple 1+1 principle, but also an effect of 1+1 > 100.

3. Investment institutions: Greensman Capital + many other institutes either public in twitter or private but will go open later, they all lead the investment and cooperates with many well-known DEFI projects.

4. Users and communities: From the first step, we have 20 large-scale communities to cooperate (Chinese + Oversea), and these communities will participate in the whole process of our early preparation, announcement and promotion, and become our community partners.


4. What will you be in the future?


Jumbo

The token name JUB is the hard fork of OHM on BSC chain. The project has been innovated on the basis of OHM. "DEFI2.0" has the characteristics of the combination mode of OHM treasury reserve and self-built liquidity +UNI liquidity.

This kind of practice is very similar to the "Enclosure" in the UK , attracting users' LP to JUMBO for reserve through high-yield dividends. When the hard token of BNB and USDT reaches a certain amount on jumbo,

its own swap will become a mobile pool with the lowest trading slip and impermanence loss, thus occupying the market share of pancake and other Swaps, realizing overtaking in corners, and having the opportunity to become the largest decentralized exchange on BSC chain, and our moat is a self-built mobile pool.

Unlike other swaps, as long as new mobile mining swaps come out, it is possible to steal users' liquidity and go to other places to mine.

Andrew (BSC.News)

Okay yeah so to touch more on the OHM hard fork aspect


5. Views on OHM hard fork project, competing products, worried about competition?


Jumbo

At present, there are several imitation items on BSC chain in markets, and there are not many addresses for holding coins, and the price of coins has risen from 5,6u to more than 1,000 U.

But none of us will regard them as competitors, because our start may be the peak of their efforts for half a year. Our competitors are only OHM and PANCAKE.

Andrew (BSC.News)

Okay very cool!


6. Could you share some marketing activities?


Jumbo

Sure, we would like to show our first wave of KOL cooperation. We are going to cooperate with 100 + KOL, each with 100k followers. This is just the beginning, this is just the warm up :D

Clip

Chinese community with 20+ KOL here

1.Airdrop 

Schedule: Nov. 11- Nov. 21, 2021

Prizes: 1 Tesla, 10 IPHONE13,2000 JUB tokens (according to the current price of OHM, the prize value is more than 1 million US dollars, and each person can get 10 tokens, that is, about 10,000 to 30,000 US dollars rewards)

2. Locking 

Schedule:November 2021-September 2022

As long as the number of tokens is more than 100, and the staking lasts for 6 months, you will be able to get Manchester United jerseys signed by Cristiano Ronaldo. We will also invite Cristiano Ronaldo to participate in JUMBO's offline activities and discuss more in-depth cooperation modes with him in June 2022.

3.IDO

Schedule: Nov. 15-Nov. 20, 2021

Participate in the following activity, get points, and you will have the opportunity to get IDO white list. 

The specific rules:

The address:

Andrew (BSC.News)

Okay and moving on


7. What are the investment suggestions and gameplay suggestions about jumbo, and how to get the maximum benefit?


Jumbo

Jumbo has two built-in functions, one is staking and the other is bond. Both of which can get arbitrage opportunities. If most people in the community choose to stake and keep compound interest issuance, then the token price will rise steadily, which is a win-win situation for you, others and the project party.

Of course, if the bond has enough benefits, it can also be swapped. The bond mode is to unlock at 20% every day for 5 days, so there will be no selling immediately after arbitrage.

Finally, it is not recommended to do the band trade in our project, because many people may choose the band because they think that there is room for the token price to fall. Later on, they will find that after the token price comes up, they will not accept it, and they will give up the project in a rage, and they may regret it after one year.

Andrew (BSC.News)

Okay great, so to touch more on security


8. How to ensure the safety of our project? Do we have an audit?


Jumbo

At the beginning of the project, we will be completely open source. Anyone who can understand the contract will help you supervise. If there is any problem, we will be exposed and distrusted.

Our audit needs to submit the application after the contract goes online. It is expected that it will take some time, and we will definitely conduct the audit.

So I think the answer is YES!

Andrew (BSC.News)

Okay and to talk about maybe DEXs


9. Do we have any plans to log in the decentralized exchange? When?


Jumbo

Definitely, we plan to log in the decentralized exchange, because some of the projects we have participated in before are frequent visitors of the three major exchanges. There is no doubt for Jumbo. The time may have to be kept secret.

Andrew (BSC.News)

Nice!


10. What is our opening price and circulation?


Jumbo

Our opening price is 10u, 10,000 is for the circulation, of which 6,000 are in the mobile pool, 3,000 are used as airdrop and marketing expenses for one year, and 1,000 are used as rewards for teams and consultants. There is no premine. 

But I'm not sure if you can buy at this low price. The actual price will just pump really high (well let's wait and see)

And don't forget to join our airdrop activity here!


11. Will private placement of IDO lead to dump?


Jumbo

The rules of whitelist and private placement unlocking are to give a bond token pJUB. And they can unlock the corresponding 1% after every 50,000 additional JUBs. Therefore, there are 90% as staked and LP, treasury funds. 1% can't be dumped.

You can check it either by the contract or just keep a close look at account

Btw, come to our IDO activity. See if you can get some credit to buy !

Andrew (BSC.News)

Okay awesome!

And would you be able to provide us with links to your social media?

Jumbo

Yeah, sure, I'm going to provide all the links

Basic information of Jumbo

Whitelist Application: Nov. 13-Nov. 19, 2021

Time of Listing: November 20th, 2021

Official Website:

Medium:

Discord:

Twitter:

English Telegram:

Chinese Telegram:

Andrew (BSC.News)

Okay great! If you haven't already make sure to go and check out JumboDeFi!


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