The debate on which cryptocurrency is superior between Bitcoin and Ethereum is endless. But, based on the latter’s added functionality, there is no doubt which protocol has the upper hand. In fact, some experts believe it’s only a matter of time before Ethereum takes over as the ultimate cryptocurrency platform. Based on what we have witnessed over the last few years, there is no doubting. The ability to launch dApps and DeFi projects have propelled the status of Ethereum to new heights. The network has become so busy lately, pushing gas fees up, with the average transaction costing around $9, a far cry from the $0.088 just a year ago.
So far, over 365,000 token contracts have been deployed on Ethereum protocol that vary in quality and purpose. But the problem is that most of them will end up financially redundant. Then a question arises why are there so many dApps with varying degrees of quality and tokens that dilute Ethereum’s value pool? It’s this problem Jigstack sought to solve through a decentralized autonomous organization (DAO) whose purpose is to govern a range of high quality, revenue-generating network solutions that are based on the Ethereum blockchain.
Jigstack Solution
The Jigstack DAO houses a range of Ethereum based commercial tools, which all operate under the same protocol. Its infrastructure has adopted a single revenue and governance feed fueled by the native token Jstak.
Several advantages to be realized from this model include standardizing quality since every dApp deployed under the Jigstack DAO umbrella has to adhere to the same high standards. Projects that chose to launch under Jigstack DAO will also have boosted brand image originating from market-wide trust and confidence. Additionally, projects under the DAO will experience reduced risk since the protocol will allow for diversification where products that perform below the expectations are counterbalanced by other platforms. Incredibly different products on the DAO can feed off each other’s capital and user base, which creates an interwoven mutually dependable sub-economy that is solid.
First Products On Jigstack
The first two products on Jigstack are Ethlink and Lemonade. Ethlink is a DeFi projects’ marketing solution that helps automate sales and increase conversions, thereby amplifying the project’s entire marketing and sales strategy by 10x with no additional costs. Ethlink is based on a decentralized MLM structure that rewards all the contributors for their efforts. Projects or individuals can set up campaigns within 20 seconds and gain access to a global network of users. These users can generate their own code and embed it on their websites or social media pages, and once tokens are purchased, they are rewarded automatically to their Ethereum wallets.
For example, if you share a project link and a new user promotes the same link, both of you will be rewarded. This creates a chain effect that offers incentives for individuals to promote the token sale since they will be rewarded for their contributions. And the involved project can set up additional incentives as they like.
This solution is perfect for the DeFi market, which struggles with sustained participation. For example, liquidity pools like Uniswap projects can attach Ethlink to their liquidity mining campaigns to encourage broader participation. There are many use cases for Ethlink, but some popular cases now include projects that are looking to raise funds using cryptocurrencies, those looking to increase their brand awareness through a token bounty, and e-commerce platforms that sell any item or service imaginable.
A Killer Combination
The other product on Jigstack DAO is Lemonade, which serves as a token launchpad. This platform allows token issuers to deploy their crowd sale in a matter of minutes without the need of intermediaries and in an automated environment. On Lemonade, issuers can access customization options such as token lock sequences, token distribution, and vesting periods.
Compared to other options available for token launches, Lemonade is one of the cheapest. For a small fee, projects and individuals get access to a fully autonomous and decentralized solution that will take their token sale to the next level.
On its own, Lemonade is a powerful solution for the DeFi market, but when combined with Ethlink, it makes for a killer pairing.
Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.
