What is Juggernaut? DeFi and NFT Bridge

The crypto industry is large, encompassing different financial models and technologies to defeat centralization. At the moment, two of the most well-known aspects of crypto include DeFi and NFTs. Still, there is a lack of projects that can fully harness the power of both simultaneously. Juggernaut aims to fill this gap, positioning itself as the bridge between DeFi and NFTs. This article will explain more about the project and how it works.

What is Juggernaut?

Juggernaut DeFi is a cryptocurrency project that aims to connect DeFi and NFTs by offering a range of products with unique features that make it easy for users to access these services. The project is powered by the Binance Smart Chain, providing users with top-quality NFT-based games, collectibles, and other exciting features.

The project’s mission is to make DeFi accessible to everyone, which will help in the mass adoption of cryptocurrency. To that end, Juggernaut provides decentralized protocols that enable the transfer of NFTs across different marketplaces and games. Additionally, NFTs can be minted through yield farming, increasing the project’s interoperability.

History of Juggernaut

Juggernaut was founded in 2020 by Nacho Llanillo, a DeFi and blockchain expert who was instrumental in the successful launch of various crypto projects, including NuCypher, IOST, etc. Other members of the Juggernaut team include Mohamed Timbo, the Marketing Director, and Girish Kamsali, who serves as the tech lead. He is an MIT graduate, was formerly a blockchain developer at Dell EMC, and has previously done a small project with Vitalik Buterin, the co-founder of Ethereum.

The project also has industry advisors, including Eric Lifson, a former strategic planner for McDonald’s, and Michael Sigaras, a leading Australian financial planning expert with strong fintech and blockchain knowledge. Juggernaut is backed by industry leaders, including Binance, Goldman Sachs, Gate.io, Bitrise Capital, Mars Finance, and Nova Club. The project has also appeared in several publications, such as Yahoo Finance, Business Insider, International Business Times, and many others.

How Does Juggernaut Work?

Juggernaut offers various products to satisfy every user’s DeFi and NFT issues. It provides an NFT marketplace that allows users to mint and trade NFTs while also offering a staking platform for users who wish to back the project’s growth. The NFT marketplace enables users to mint single edition (BEP-721) and multiple edition (BEP-1155) NFTs from the Binance Smart Chain.

Additionally, Juggernaut includes a staking program that allows users to back the project and earn rewards. They can also stake their JGN tokens on liquidity pools to earn even more rewards. The staking program also enables users to mint a new token (dJGN), which serves as the project’s governance token, allowing them to vote and decide on future decisions concerning Juggernaut.

Aside from staking and NFTs, Juggernaut incorporates a play-to-earn model where users can compete for prizes. JuggerDraw, for example, is a raffle game created exclusively for JGN holders, where players can win big prizes and NFTs for only five tokens.

Main Features of Juggernaut

Juggernaut features multiple innovative features that set it apart from other cryptocurrency projects. They include:

Diamond JGN Membership

Diamond JGN (dJGN) is a membership program designed to reward early supporters and contributors. It was launched on August 5th, 2021, and features a reward system where Juggernaut allocates 10% of its total supply (15 million JGN) to long-term contributors and JGN holders in the diamond JGN program.

Diamond JGN has three major components: staking, DAO, and exclusive rewards. With Diamond JGN, users can stake their JGN tokens to mint new dJGN tokens, which confers them the right to vote on matters affecting the project. The Diamond JGN membership has a reward structure of 8,000 JGN daily, with higher rewards shared during the first 30 days of dJGN’s launch. To mint one dJGN, a user has to stake 100 JGN tokens.

dJGN is not a token but more like a certificate to distinguish Diamond JGN members. As such, dJGN cannot be circulated, sold, or transferred. Redeeming dJGN into JGN costs a 5% fee. Nonetheless, members in the Diamond JGN program will be rewarded in the long term for their support, and they will get extra benefits and exclusive access to secret rewards.

Decentralized Storage

Juggernaut partnered with Filecoin to provide a fully decentralized data storage solution. Unlike traditional cloud storage services prone to centralization issues, Filecoin’s decentralized infrastructure allows users to act as their own data custodians. Additionally, Filecoin’s distributed storage technology ensures accurate data ownership information.

GameFi (Play-to-earn)

Juggernaut’s vision is to make it easy for everyone to join the DeFi revolution. Since the project already has a DeFi-combined-with-NFT infrastructure, and their vision is to provide DeFi access to everyone everywhere, GameFi offers an innovative path to building exciting projects.

Juggernaut is designing a metaverse game featuring breeding, collecting, and battling components. Diamond JGN holders will get secret rewards and extra perks in this new game by staking and ensuring the overall growth of the project.

Other features of Juggernaut include:

NFT Marketplace

Hosted and powered by the Binance Smart Chain, Juggernaut provides an NFT marketplace where users can mint, store, and trade NFTs. Users can mint a single NFT as BEP-721 tokens and multiple NFTs in a collection as BEP-1155 tokens. The marketplace also has a unique feature called ‘My Collection,’ where users can store NFTs they like until they are ready to purchase them.

JuggerSWAP

JuggerSWAP is a staking platform where users earn JGN tokens by staking on liquidity pools. It was initially launched on Ethereum, but the community expressed the need for more staking options. As a result, the project released its first liquidity pool on Juggerswap BSC.

The staking process is simple. Users must add liquidity to the JGN/BNB pair on PancakeSwap to create CAKE LP tokens. They can then stake these CAKE LP tokens in a pool on JuggerSwap. JuggerSwap has a phased approach, with each phase offering up to three staking pools, each with different rewards. Currently, there are four pools available:

Pool 1 allows users to stake JGN/ETH UNI-V2 tokens and rewards 150,000 JGN tokens. This pool launched on November 13th, 2020 (Beijing time) and has an annualized return of up to 700%. Pool 2 allows users to stake JGN tokens directly and earn jXP, another token within the Juggernaut ecosystem. The total reward pool for this pool is 1.75 million jXP tokens.

Pool 3 allows users to stake JGN tokens and earn additional JGN tokens. The reward pool for this pool is 160,000 JGN tokens. Finally, Pool 4 caters to SKM token holders. By staking SKM tokens, users can earn jXP rewards. The total reward pool for this pool is 1 million jXP tokens.

JuggerDraw

JuggerDraw is an NFT lucky draw game hosted on the Binance Smart Chain that offers big prizes to participants. Only JGN holders can participate in this game, and each round costs five JGN tokens.

When playing JuggerDRAW, a player receives a random NFT with a letter. The player can then combine different NFTs to form words, and each correct answer comes with rewards. The game uses unique NFT collections, and when a player wins an NFT card, it is sent to their wallet. They can redeem the card later on the Juggernaut NFT Marketplace.

What is JGN?

JGN is the native token of the Juggernaut ecosystem. Both JGN and BNB are the accepted payment currencies in Juggernaut. Nonetheless, JGN serves multiple purposes, such as a governance token and for staking. JGN also supports two versions of tokens- BEP-721 for single NFTs and BEP 1155 for multiple collections.

JGN Tokenomics

JGN has a total supply of 150 million tokens, with a market cap of $4.2 million. The current total circulation is about 10%. JGN uses a deflationary model, so the profits and fees obtained through games and transactions will be repurchased in the secondary market and destroyed to increase the scarcity and value of the token. The token was distributed as follows:

• 1% was allocated to decentralized exchanges before listing
• 5% went to marketing and IEO
• 9% was distributed in a private sale
• 10% was reserved for the Juggernaut team and advisors
• Another 10% was allocated to strategic ecosystem building and partnerships
• 25% went to the foundation
• 40% was allocated for yield and liquidity farming

News on JGN

Juggernaut’s whitepaper (October edition) stated that it plans to collaborate with music producer Steve Aoki. However, the details of the collaboration have not yet been revealed. Nonetheless, the project is confident that the upcoming collaboration will increase exposure to the platform, given that Steve Aoki has over 8 million followers on Twitter.

Juggernaut recently completed a deal with ATV to become their exclusive NFT producer. ATV is a media company popularly known for the Miss Asia Pageant. Juggernaut was granted the IP rights to produce NFTs based on the Miss Asia Pageant and other ATV programs. This partnership will boost Juggernaut’s popularity amongst the Asian community, especially given that ATV has quite a large audience.

Is JGN a Good Investment?

Juggernaut tackles the intersection of DeFi and NFTs within the Binance Smart Chain ecosystem. The project empowers creators with a dedicated NFT marketplace, allowing them to mint and trade BSC-based NFTs on a user-friendly platform. However, the crypto market is volatile, so it is advisable to do extensive research and consult qualified financial personnel before investing in any crypto project.

Take Action on JGN

You can purchase JGN tokens on various cryptocurrency exchanges, both centralized and decentralized. Check out platforms like Gate.io to find compatible trading pairs and start trading JGN.

• JGN/USDT
• JGN/ETH