Jigstack Showcase
If you’ve been following the DeFi space closely, you’re sure to have heard about the $2.7 million raised by Jigstack — a revolutionary new platform that aims to solve the problems in the current DeFi space.
You’re sure to know that the unregulated space of Decentralized Finance, coupled with the explosive popularity of cryptocurrencies and DeFi, has brought on a unique problem. This has brought rise to a lot of substandard products, in the mix with the really good ones, making it almost impossible for the everyday user to sort the good projects from the rest. Jigstack describes this problem as “The initial vision for decentralized finance has been corrupted by greed, inefficiency, and sheer incompetence. Everything the industry promised to deliver has yet to be brought to life in a professional manner.” and “Right now, it’s a crazy town. We got innovators, pioneers, scam artists, rug pulls, phantom DApps and just a whole lot of clutter.”
The Core Weaknesses of DeFi
Just in 2020, the losses in the DeFi space could be estimated valued in 9 digits of users funds. Hundreds of millions were lost, stolen, misappropriated, or worse, hacked just in the last year. It is essential to maintain security and accountability, while maintaining the core tenets of DeFi, in order for DeFi to truly be the next big thing.
Governance and responsibility should move away from the traditional centralized systems, and the system should be democratized. While the current iterations of DApps promise reduced cost and improved efficiencies, Jigstack claims that all we see are high fees and central parties siphoning the funds off users. They state “There are ecosystem contributors, and there are ecosystem leeches. Most of the platforms in the DeFi space are designed to siphon as much capital out of the ecosystem while leaving just enough in to keep the lights on.”
The current ETH landscape is extremely fragmented with over 365,000 token contracts deployed till March of 2021. Most of these projects are subpar, or are soon-to-be redundant, making it an extremely confusing space for even professional investors.
The Jigstack Solution
Anticipating a trillion-dollar transaction volume, Jigstack’s team came up with a decentralized autonomous platform, governing a portfolio of ETH assets and protocols. By implementing standardization, a uniform quality is maintained on all the assets — as all assets would be audited, non-custodial, trusted and secure. Users will be able to manage their finances with ease without having to worry about the safety and quality of their funds/investments
Prominent Features
- Quality Standardization: All DApps deployed under the Jigstack DAO umbrella will adhere to a high and uniform quality standard.
- Brand Confidence: All network DApps and products built under the Jigstack DAO umbrella will benefit from market-wide trust and confidence.
- Reduced Risk: Diversification reduces investment risk for token holders. In this format, any single subsidiary product performing below expectations can be counterbalanced by other platforms under the Jigstack DAO.
- Collective Power: The Jstak token governs the distribution of revenue from all dApps developed under the Jigstack DAO umbrella
- Multiple Revenue Streams: All network products can feed off each other’s capital and userbase to create an interwoven and robust mutually-dependable sub-economy.
Products on Offer Currently
Currently, the brand is the house to two promising products
- Lemonade — A tool enabling platforms to run a token issuance. Token Holders will earn a share of revenue generated from the platform, along with all the crowdfunding activities
- ETHlink — An affiliate linking tool, using the revolutionary VLM (Viral Lopping Marketing) and not the traditional MLM (Multi-Level Marketing — potential for scams and pyramid schemes).
- Laundry (Not Officially confirmed) — We don’t have much details on Laundry, apart from a picture on the official site, explaining how $STACK (The native token) works
Investors & Partners
Jigstack has concluded its private token sale recently securing a total of $2.7 million from various notable partners like X21 Digital, Moonwhale Ventures, GAINS, CSP DAO, BLOCK FILMS, exnetwork, Blocksync Ventures, Deltahub Capital. Jigstack has partners like CYBER UNIT, Bonded.Finance, Hedera Hashgraph and Polygon helping it to achieve their goal.
Final Thoughts
Jigstack looks extremely promising, at least on paper. However, much still depends on how well the project is executed. If this DAO of DeFi kicks off, then it truly has the potential to solve the problems plaguing the Decentralized Finance space. We’re not the only ones to think so, as major organizations and investors also believe in this revolutionary platform.
Follow Jigstack on:
Website: https://jigstack.org/
Telegram Chat: https://t.me/jigstack
ANN Channel: https://t.me/jigstackANN
Twitter: https://twitter.com/jigstack
Linkedin: https://www.linkedin.com/company/jigstack/
Github: https://github.com/jigstack-dev
Medium: https://medium.com/jigstack
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