Juggernaut? Have you ever wondered what it will look like combining DeFi and NFTs? Or should I say, will it be possible for NFTs and DeFi to come together to achieve a particular purpose?
Well, let’s explore Juggernaut.
DeFi and NFTs are entirely two different worlds in the digital world. Merging these two may look or sound preposterous but juggernaut is making it look possible and attainable with its aim to build the next-generation of blockchain infrastructure to make DeFi and NFTs invincible.
Decentralized finance (DeFi) is an idea, a solution and system that gives its people access to different financial products and services on a decentralized network. With DeFi, you do not need any sort of permission to access the system, it is time-saving, fast, and secure because of the blockchain network. A decentralized system comes with different protocols such as; Lending. Trading, Staking, Mining, Liquidity, and some more.
On the other hand, NFTs (Non- fungible Tokens) are digital assets that cannot be traded or exchanged equally and are uniquely built on blockchain. NFTs also represent immutable and unalterable ownership. Juggernaut is on a mission to make DeFi and NFTs accessible and simple for all.
What is Juggernaut DeFi?
Juggernaut (JGN) can be referred to as a complete suite of the DeFi, NFT, and GameFi infrastructure fully compatible with BSC.
Juggernaut is a platform building a unique ecosystem that is full of many exciting features allowing the coming together of DeFi and NFTs.
Juggernaut believes that everyone should have direct access to DeFi and NFTs in a simple way.
Logically, when you put non-fungible tokens on a blockchain, a new world of possibilities automatically opens and digital art becomes usable as it will be easier to prove the ownership.
You can start doing cool ‘stuff‘ with loyalty points, or buy & sell royalty-bearing items such as music or movies and other ‘stuff‘.
Why DeFi+ NFTs?
You might have been wondering, what does DeFi have to do with NFTs? We all know the decentralized system has brought stability to the digital world because of its amazing features and on the other hand, NFTs on their own are rare items, digital land, and so on, but they lack two important features which are:
As we all know these features are important in cryptocurrency and the only way to get it is through the decentralized finance system.
DeFi will help NFTs with its protocols and reward mechanisms, such as yield farming or staking.
Also, one of the features Juggernaut wants to bring into NFTs is interoperability. Meaning they can have a variety of uses outside of their initial purpose, like for example to unlock staking or new use cases that have not been discovered yet.
DeFi can also help to improve NFT marketplaces, with rewards to trade or create rare collectibles.
For the fact that all of these things can happen automatically, without the use of any intermediary which means Non-Fungible items can now have
international exposure, especially when it comes to digital NFTs such as Twitter usernames, websites, digital art is also one of the reasons Juggernaut is merging these two.
Read Also:
Terra Blockchain Ecosystem: DeFi And Stablecoins
Understanding the Ethereum Virtual Machine (EVM)
Phantasma Chain: Overview of the Fast, Interoperable Carbon Negative Blockchain for NFT Games
Why Juggernaut DeFi?
Here are the uniquenesses of Juggernaut:
- It is fully decentralized.
- You have free access to NFT minting. (small amount BNB as a is required as transaction fee)
- BSC provides ultra-speed and low cost.
- Sales directly go to artists up to 97.5 %
- Exclusive Collectible stores
- Supports BNB and JNG for Payments
- Supports BEP-1155 token
- It supports all kinds of file types like PNG, JPEG, GIF, WEBP, MP3, and MP4
- Royalty feature to provide profit to the creator
Components of Juggernaut
JuggerSWAP: A staking platform that allows you to stake on liquidity pools (LP) and earn JGN. It was originally launched on the Ethereum network but because its Community needed more staking opportunities, it decided to release its first liquidity pool on Juggerswap BSC.
To participate in the staking opportunity, users are required to add liquidity to JGN/BNB on pancakeswap and stake CAKE LP tokens in the pool.
JuggerDRAW NFT Games: is the NFT lucky draw game exclusively on the BSC chain, where JGN holders can win big prizes. JGN has released four different versions of JuggerDRAW, all part of the JGN ecosystem, using JGN to participate in the games. These versions are:
- Each time a user plays, he gets a random NFT with a letter on it.
- Players can put together NFTs to spell different words, and get rewards.
- The games feature exclusive NFT collections, and NFTs redeemable directly for unique prizes.
JuggerWorld NFT: It is evident that the NFT market is booming and it is only wise to go to where the money is. That is why Juggernaut decided to create a platform for its BSC community to start trading NFTs.
Tokenomics
JGN is the native token of Juggernaut. JGN and BNB are used to purchase NFTs in Juggernaut.
- Total Supply of JGN: 150, 000,000.
- 42, 000,000 JGN is minted on BSC.
- 30% of JGN is currently on the Binance Smart chain.
- 28% of JGN is on Ethereum
- 2% is burnt
This JGN token is now listed in various exchanges like Pancakeswap, Uniswap, to increase the supply.
Conclusion
DeFi can make NFTs truly shine because the ownership and authenticity guarantee that blockchain brings are best displayed when there’s a lot of movement on those items.
Juggernaut has introduced a unique way of combining NFTs and DeFi and enjoying the benefits attached to it at once. We hope this unique idea goes far!
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