Community Call #003 - Asset Onboarding Status Update - August 3rd 12pm EST / 4pm UTC

Community Call #003 - Asset Onboarding Status Update - August 3rd 12pm EST / 4pm UTC

JetDAO is hosting our monthly community call 2022-08-03T16:00:00Z

Agenda

We will host Jet Co-founder James Moreau @jrmoreau for a status update on the asset onboarding pipeline. We will discuss:

Hosted by :studio_microphone:Dante @dante

  • Community Contributions to JetDAO
  • Approved Asset Onboarding Applications
  • Turbulent Asset Onboarding Applications; and lessons learned
  • Community Q&A

When

The call is scheduled for Wednesday, August 3rd at 12pm EST / 4pm UTC. This call was delayed a week due to technical difficulties (we promise a flight attendant didn’t oversleep and delayed our flight).

Where

New Streaming Platform: CrowdCast

Have Questions?

Submit any Q&A questions on this thread, and our host will ask them during the call. Questions will also be taken live from the audience during the call.


Summary

provided by @insidetrader

Hello Jetters,

Welcome to another edition of JetDAO Community Call Notes. This month’s call happened on the 3rd of August, with @jrmoreau as the participant and @Dante as the host.

The call consists of multiple sections in which we heard information about the new ‘’Jet DAO Asset Onboarding/Application’’ processes. In the first section, James told us about the previously onboarded assets, including WBTC, SOL, and USDC, and the mechanism behind their onboarding. Previously, these three asset applications were posted on the Jet Governance Forum by team members. By doing so, the on-chain governance mechanism is tested & the feedback from Jet users was collected. The first onboarded asset types are blue chips and stablecoins. In Jet Protocol V2, James told us that other types of crypto assets might be onboarded via governance as well. This will help Jet users to unlock the features of Solana DeFi.

After some basic explanation about the asset onboarding, James started another section that consists mostly of the details about how a new asset is to be onboarded to the Jet V2. Everything starts with the application form which can be found in the JetDAO GitBook. There are no restrictions neither for applied assets nor for the appliers. Even if you are not from the team of an asset that you’re applying for, it’s possible for you to submit the form. Besides that, there is no rule to hold any amount of $JET tokens to apply for. Anyone with bare hands with empty pockets can apply for the onboarding process. By doing so, the Jet team wishes to reveal the hidden feature of many assets created on the Solana chain. If you wish to see assets on Jet V2, you must clarify the exact benefits & features, first. So, it happens without monetary support.

From now on, James reminded us that anyone can request help from Discord or Governance Forum before and/or during the application process. Every Jet DAO contributor champ to see new assets so they’re keen to help. During the call, Norman Ives posted into chat that anyone who is interested in risk management may reach out to him, too. Join the Discord server here to start your Jet adventure.

Just before the call ended, James talked about the future improvements in the Jet roadmap. He said that one of the very first changes in the roadmaps will be about the onboarding process. When the DAO gets bigger and stronger, the team wishes to create ‘’working groups’’ for asset onboarding. These are passionate community members that are dedicated to finding better assets for the protocol. Bu doing so, member reputation will rocket within the community and it helps them for future interventions. And when we think about the processes cumulatively, the more they engage with different communities the easier the process will be. In the end, it results in a totally improved ecosystem! This is best for every Solana lover.

The call was all about the onboarding process! But within the sentences of James, you understand that the V2 launch is so so so close! He said ‘’it’s a matter of days!’’ Please expect to see the Jet V2 launch soon and stay with our community.

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4 Likes

Do you feel there is a creative way to incentivize other Solana projects to apply to be collateral on JET?

I know that liquidity rewards, and plans like these are not JET’s style, but perhaps there is somewhere in the middle whereas a call to action can be put forth to projects such as Serum, Radium et al. - Where perhaps JET can somehow get the word out to the Token Holders and thus create more of an urgency for these projects. I feel like through JET’s partners this is possible, but I am but a mere pleb :slight_smile:

2 Likes

This is a good discussion point!

I’ve been thinking about this myself. And doing some leg work in various communities to see if there is community interest in submitting applications.

But I think you’re on the right track in finding some way to incentivize applications. Presumably any token holder would be incentivized to have their token listed as a collateral asset but the application process is rigorous enough that I think it’s likely daunting or discouraging to many token holders.

As a thought exercise, any idea on how much incentive in the form of capital it would take?

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@Bob do you have any examples of or basic ideas of what sort of offerings could be made? This is absolutely something that could be proposed by and moved on through governance.

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I’ll put some thought into this, I’m just now getting a bit more of a free schedule.

Stream of consciousness here -

"Calling all Pilots - $JET needs your assets listed! With all the noise out there your favorite Solana project might have missed the chance to get their token listed as a collateral-type on JET! Reply to this thread with your favorite asset you want flying with JET. If your choice successfully passes the application you win 50 $JET - it’s as easy as that to fly with Jet Protocol!

Maybe something like this? I’ll think about it some more.

1 Like

attach your Solana address, one entry per account, blah blah.

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Thanks for having the podcast! I created a summary for those who didn’t attend the live stream. Check it here.

5 Likes

Thanks for taking the time to do this @insidetrader !!

2 Likes

This is great! I just included it in the original post to make it easier for anyone to read!
Thanks a lot, @insidetrader.

1 Like

Chinese translation here!
中文翻译在此!

JETDAO第三次社区会议笔记 (NOTES FROM JETDAO COMMUNITY CALL 3)


笔记Notes: @insidetrader
翻译Translation: @chainguys

3 Likes

Thank you so much for the summary and translation!

thanks, this was really helpful!

thank you for posting this!