Synthetic Asset Project Jungle Protocol: Innovation and Rewards Coexist in Early Testing

Derivative projects will become an extremely important track in the future. Based on the development patterns of the cryptocurrency sector, each cycle of bull and bear markets is accompanied by the rise and fall of certain track projects. Derivative projects are likely to emerge during this bull market, such as GMX, which has already begun to show its potential as a typical representative of derivative projects.

Project Overview

Jungle is a global debt pool model derivatives protocol based on Arbitrum and zkSync, providing a derivatives trading market with infinite liquidity. Users can easily create various synthetic assets, including cryptocurrencies, stocks, precious metals, and foreign exchange, without any coding knowledge, and profit from price fluctuations. At the same time, users can also earn profits through the DAO.

The project is currently in its early stages and has some innovations in the direction of synthetic assets. Participating in the testing is not only simple but also has rewards. Test users can receive gatcha token rewards, which can be used to mint blind boxes. The blind boxes may contain NFTs, which will receive airdrops of the project token $JUNT in the future according to regulations.

Test Qualification Acquisition

To participate in the Alpha test, you must first obtain testing qualifications:

1. Join the Discord community and apply for the OG role
2. Follow and retweet the specified tweet
3. Invite 2 friends to join Discord
4. Fill out the application form
5. Submit proof screenshot in specific Discord channel
6. After obtaining the OG role, submit your wallet address in the specified channel.

Note: It is recommended to use a secondary wallet to participate in the test

Testing Process

1. Add Arbitrum Goerli test network
2. Claim test tokens and cross-chain to Arbitrum Goerli testnet
3. Log in to the testnet and connect your wallet

Test Steps

1. Claim test USDC (up to 10000)

2. Stake USDC to obtain JUSD (1:1 ratio)

3. Participate in synthetic asset trading on the "Market" page
   • Transfer JUSD to the designated debt pool
   • Use JUSD to purchase synthetic asset
   • Monitor the changes in total debt and individual debt in the debt pool.

Precautions:

• The price of synthetic assets is determined by Chainlink oracles.
• Trading has unlimited liquidity, without affecting asset prices.
• A forced liquidation will be triggered when the unrealized profit and loss percentage ≤ 95%.

rewards mechanism

1. Complete 5 trades daily to earn Gacha tokens.
2. Gacha tokens can be used to claim Jungle Squad NFT blind boxes.
3. Invite users to join Discord to earn additional Gacha tokens.
4. Creating and publishing project-related content has the opportunity to earn more rewards.

In the future, the project will hold simulated trading competitions and create more debt pools, including assets such as cryptocurrencies, stocks, foreign exchange, and precious metals. Users can choose the desired risk and reward combinations through the multi-debt pool system.