BSCDaily.com hosts Jade Protocol: a decentralized reserve currency platform on Binance Smart Chain. Unlike DAI or USDC, which are pegged to the value of the U.S. dollar, JADE’s reserves are crypto assets held by the Jade Protocol Treasury.
BSC_Daily Admin: Hello and welcome. How are you today? 😀
Jon Ray: Hey, thanks for having me. doing well and exciting to chat about Jade Protocol.
BSC_Daily Admin: We are excited too! Let’s get started shall we?
Jon Ray: ++ 🤠
Q1: Could you tell us a little bit about yourself and your team? What are your past experiences?
Jon Ray: Sure. I’m Jon Ray, the community manager and liaison from SmartCoin and Jade Protocol. I’m a former Google employee, where I was. Field Marketing Lead for Google’s small business incubator. Our team consists of devs from Google, a harvard professor, and seasoned viral marketing experts. And we are creating the world’s first decentralized venture capital fund, utilizing OlympusDAO style tokenomics on Jade Protocol.
Q2: What is the idea behind Jade Protocol and Fair Launch Foundation?
Jon Ray: Well, we know all too well how stressful it can be going into projects that could get rugged, or have founders with bad intentions. Our goal is to showcase enough good faith actions over time so that investors understand that when we launch a project, it will be a project they canape in peace on. We are actively seeking out the most talented developers, teams, and projects in crypto and bringing on seasoned fund managers to help JADE allocate and invest its treasury.
Most $OHM forks are ponzi schemes (all of them, actually). JADE is reaching what we call “ponzi escape velocity” which means we have high APY to bring people into the ecosystem (we’re currently the world’s fastest-growing OHM fork). But once they are engaged with us, they realize that unlike other $OHM forks, we actually have a real business and utility…
We are a decentralized venture capital fund, run by the people, for the people. And collectively, throughout DAO, we’ll all be proposing and voting on the best way to use the funds in the treasury to bring the project income above and beyond ponzinomics.
It’s a very innovative use of the treasury and allows us to look at and assess investments from crypto assets with yield on platforms like Curve to buying a sports team to donating to charity.
We are disrupting the venture capital space, one of the most profitable industries in the world.
It’s going to be a fun, wild ride of exploring how we bring venture capital power to the everyday investor.
Q3: How can you make sure the people you’re working with are legit? I mean we all experience renowned projects with an “inside” job that ran away with millions of dollars.
Jon Ray: Yeah, it’s a concern we all have. the right answer is: we can’t.
We all have to use our own discernment and do our own research. What’s been great about this team is that there have been so many opportunities where they could have just run away with a LOT of money, but didn’t. Instead, they doubled down on building community and investing in growing the team and project. When assessing a project and its intentions, I think it’s important to look at how much work and communication the team is putting into community building. Someone that’s just going to rug their own project typically isn’t going to care about fostering community
Jade Protocol and it’s inaugural project SmartCoin have built a deeply passionate community and continue to show good faith actions towards growing this for the long term. Our founder is also KYC Verified with RugDoc, meaning they showed a passport and did a zoom interview. so that provides some level of recourse. Our inaugural project, SmartCoin was also audited by RugDoc as being low risk
And we’ve been very transparent and engaged with our community. I think anonymity is important when you’re trying to disrupt a trillion dollar industry. Our founders know that as we turn the venture capital space over to the people, we’re essentially creating billionaire enemies. Being anonymous helps us stay the course without wealthy oligarchs and crony capitalists trying to attack us in press, court, etc
We’re set up to win. That’s why our team is structured the way it is
Q4: Let’s dive into your Jade $token. What are some of $token use cases and how can we as investors earn Jade token?
Jon Ray: JADE is a rebase token built on the tokenomics of OlympusDAO. we are a better $OHM fork on the Binance Smart Chain. In markets you want to create value, but if you can’t CAPTURE that value, you’re missing a big opportunity.
The $OHM tokenomics model is one of the most innovative structures we’ve ever come across for CAPTURING value in the marketplace.
The JADE token is a rebase token. You can BOND or STAKE the token to earn yield.
When you bond, you’re turning over an asset like BUSD for what is essentially an I.O.U. note from Jade Protocol that says, in exchange for your BUSD, we will pay you in JADE over a 5 day period.
That’s called bonding and you get to buy JADE at a discount in exchange for your JADE vesting (materializing/minting) over a 5 day period.
To STAKE Jade, you simply purchase JADE from Pancake swap, or take your vested JADE from bonding, then stake it in the platform to earn yield.
Current APY on JADE today is: 6,168,639%. Which means that by staking, you’re earning around 16.31% every 5 days.
We’ve also gamified our entire ecosystem to encourage HODLers to stick around, stake and chill and offer airdrops for anyone who “3,3,3s” which just buys buy, stake, and chill.
Q5: Can you tell us more about your game theory?
Jon Ray: A big part of what separates us from other $OHM forks is our “real utility” and our “game theory”.
We know that most market actors have been trained to take selfish market actions.
These selfish actions tend to hurt the protocol and it’s why most ponzi schemes never reach “ponzi escape velocity”.
We’re using real utility (our decentralized VC fund) to give our treasury real income, and that makes our APY more sustainable.
We then pair this with “games” or “game theory” – investors are rewarded for actions that support a healthy ecosystem and “punished” or disincentivized for actions that are selfish in nature.
Game theory also gives us a unique opportunity to EDUCATE our investor base and community.
We MIRROR to the community the selfish behavior that they are taking in the marketplace by making fun of it or putting that behavior in the spotlight.
This is similar to how clowns at the circus will make a “sad face” at a child who is crying in order to give them an AWARENESS of their behavior.
This is a kind of game theory that helps people understand how their behavior shows up in the marketplace.
And over time, it builds a stronger, more antifragile investor base of HODLers who make the platform not only sustainable but allow it to thrive.
Jade Protocol is tripling down on game theory and education; it’s defi school for degenerates and for those used to only taking selfish actions in their life and the marketplace, it can be somewhat uncomfortable (because personal growth is HARD).
But we’re ultimately building a more profitable and powerful community of investors. Our community says they’ve learned more about crypto in our projects than any other project they’ve invested in.
We’re proud of that.
Q6: What can we expect in Jade Protocol’s development in 2022?
Jon Ray: Buying a sports team? ++ 😅
Since the primary utility of Jade Protocol is our Decentralized VC Fund, in 2022 we plan to bring on the best fund managers in the world.
These are people who have an INSANE amount of on-chain data and alpha about the best, most talented dev teams and projects in crypto and beyond.
We’ve already had 2 very successful on-chain votes. so every single investor in JADE gets to vote for how the protocol grows.
We’ll be analyzing, assessing, vetting, and funding all kinds of cool projects and the community gets to have a voice in what they feel the best use of treasury funds will be.
It’s going to be an epic year, and we’re going to change how crypto projects raise money and get funding.
We’re going to showcase that launching projects fairly is the only way to go and we’re going to showcase that the real value of a cryptocurrency is its community. Cryptos should be valued the way nationstates are valued, by the strength of its people.
Our greatest asset in Jade Protocol is our anti-fragile, savvy investor base.
Q7: What about your approach to marketing strategies to increase users in Jade Protocol?
Jon Ray: Jade Protocol is run by a team of some of the most savvy viral marketing experts in the world and 15% of our treasury is dedicated towards global marketing efforts.
What we know about crypto is that people come for the greed and stay for the insane impact they can have on the world.
We attract new investors through high APY protocols, then use game theory to educate them on the real-world value we are offering.
Everything in crypto (maybe everything in general. period) is a ponzi scheme.
If there is not real utility then the protocol will die as soon as there’s something new or the market corrects.
By doubling down on using our marketing budget to EDUCATE our community and new entrants into the space; by being edgy and polarizing in our messaging, we become buzzworthy. We become “different” from all the other projects.
One of the best compliments that I see from people investing into JADE is that this project just “hits different” for people. It feels more real. It feels more special. It’s got a “unicorn vibe” to it.
We use our marketing budget to bring as many people as possible into the ecosystem (we’re the fastest-growing $OHM fork in the world, right now), then we hit them with a “unicorn vibe” — we game theory them into staying and supporting the ecosystem long-term, because people came for the short term greed and then realized there’s WAY more going on under the surface.
That’s our one-two marketing punch and it’s disseminated globally by doing TONS of ama’s like this, running ads in nearly every region and every website, and having the most “interesting” Twitter profiles in the crypto space.
We are polarizing BY DESIGN because it makes us buzz-worthy. it makes us stick in people’s minds, and it moves our community towards a place of being antifragile, which means we don’t have a bunch of paper-handed investors that are going to cut loose the first time the market corrects.
We’re growing a community of people who are visionary in their thinking and it’s beautiful.
Q8: Jade Protocol encourages people not to sell, but how can you attract people to hold the Jade token for a long time?
Jon Ray: People are looking for community and a movement that allows them to have real impact in the world.
The world is kind of “nutso” right now, if you haven’t noticed 🙃
We’re creating a place where antifragile investors can come and throw rocks at the billionaires who have historically pumped and dumped projects, billionaires who hurt the little investor.
We’re changing that by creating the world’s first decentralized VC fund, and launching our projects fairly without the pre-minting, team allocations, and other scammy mechanisms billionaire venture capitalist use to manipulate markets.
Our projects are FUN.
As you engage with our community, the #1 people say is that 1) they’ve learned more about crypto and how the space works in our projects, than they have in any other project, and 2) that this project is just INTERESTING.
There’s never a dull moment.
Our team of marketing guru’s and super devs always have something new up their sleeves.
And that’s helping us create a very strong foundation from which to blast off from.
As the marketplace sees that we’re SO MUCH MORE than “just another $OHM fork” and begins to price in the actual utility we offer as the world’s first decentralized VC fund, it’s going to get BANANAS (and that’s a technical term 🍌🍌🍌)
By operating as a decentralized VC fund we’re going to be able to get into and launch projects in metaverse, web3, and anything else we want to launch.
We are building the Y-combinator of crypto.
And it’s going to be run by the people, for the people.
Go look up Y-combinator.
Look at how their investments have turned out.
That invested early in AirBNB and made a 110,000x on their investment and that’s what’s available to savvy venture capitalists. We’re using our treasury to fund the world’s first decentralized VC fund.
It’s going to be epic.
Q9: Where can we find out more about Jade protocol?
Jon Ray: We have a great intro video on our official website: https://jadeprotocol.io/#/
You can also follow us on Twitter…
From there, you can find our other community links.
My DMs are also open, though I’d prefer people ask publicly so that it benefits the whole community when I answer: https://twitter.com/jonray
BSC_Daily Admin: With this we are now at the end of our AMA session with Jade Protocol 🔥🔥🔥.
Time for wrapping up, any last words you would like to say to our community?
Jon Ray: Just that we would love to invite you into our community, but you will have to level up in your thinking.
I don’t say that to be mean, I say that because this is a startup with BIG ideas.
But we are not going to be perfect in every moment.
We understand that our greatest strength is our ability to pivot and iterate when the marketplace demands it.
We’re not interested in trying to turn a cruise ship. we’re on a cigarette boat that hurdling forward towards massive success.
Sometimes that kind of speed can seem unsettling.
We need our investors to own their emotions and see the long-term vision.
We’ll teach you to get there,
And as we band together as a community, we’ll disrupt a trillion-dollar industry and make history.
Thanks everyone 🙂
BSC_Daily Admin: Thank you so much for spending time with our community & all the very best for Jade Protocol 🚀