Juggernaut FAQ [Frequently Asked Questions]

11 min readJun 23, 2021

List of questions:

What is Juggernaut?
Juggernaut (JGN) vision
Which problems are you trying to solve?
Why did you start the project?
Who has invested into JGN?
Advantages of your NFT Exchange compared to others?
How is Binance NFT Marketplace going to affect Juggernaut?
How can I mint NFTs?
How do you capture value? What’s the purpose of the JGN token?
Is Juggernaut secure?
Why mix DeFi with NFTs?
When Binance?
Will the Price go up?
Why is there are no news?
Are you guys using MM?
Do you plan a burn or buyback program?
When is staking coming?
What is JuggerDRAW?
What’s your token distribution?
Why did the team tokens move to an exchange? Why did a lot of JGN tokens move to an exchange?
What ecosystems is Juggernaut in?
What is the supply of JGN on BSC?
What is DeFi?
What are NFTs?
I can’t find my BEP-1155 NFT on my wallet/explorer

What is Juggernaut?

Juggernaut (JGN) is a complete DeFi plus NFT infrastructure and NFT ecosystem with full BSC compatibility.

We are building platforms and technology for other projects to use, new NFT games, collections, and our JGNNFT.com NFT Exchange, with open access to BSC NFTs 🔼

Juggernaut (JGN) vision

We believe that DeFi and NFTs should be accessible and simple for all. Juggernaut wants to help everyone be part of the DeFi revolution and empower new and interesting asset classes and innovations.

At Juggernaut we are merging the possibilities of DeFi with NFTs to create something new and exciting 🔼

Which problems are you trying to solve?

While developers and entrepreneurs work toward enhancing the penetration of the DeFi market, these DApps still require some work in making them more suitable for everyday users. Several commentators (CoinTelegraph) agree that improvements of the in-app user interface remain a key factor not just for DeFi products but for blockchain DApps in general.

The problem with DeFi right now is that it’s really only used by crypto enthusiasts in developed countries.UI issues are one of the four pain points for DeFi:The user experience needs to dramatically improve to be usable by the non-crypto layperson from both the user interface and ‘requisite starting knowledge’ level. Moving past the usability hurdle will allow stakeholders to focus on matters like liquidity, which becomes even more significant once scalability increases.

Moreover, as DeFi and NFTs grow further, interoperability and opening access to emerging ecosystems such as BSC and traditional markets (art, collectibles, etc.) will enable greater mainstream adoption 🔼

Why did you start the Project?

Decentralized Finance — often called DeFi or open finance — refers to the economic paradigm shift enabled by decentralized technologies, particularly blockchain networks. We started Juggernaut because we thought the next evolution of DeFi would go beyond pure finance and into real-life financial use-cases and assets and had the power to fundamentally alter the bedrock of how we define value.

We believed that DeFi and NFTs should be accessible and simple for all. Juggernaut was born to help everyone be part of the DeFi revolution and let them get exposure to new and interesting asset classes and innovations.

So, in short, the idea behind JGN was to create a DeFi + NFT infrastructure, combining both technologies to develop an ecosystem that gave people access to new asset classes like NFTs 🔼

Who has invested into JGN?

We have received investments by Softbank (UK), Goldman Sachs (CA), Binance Smart Chain Fund, LD Capital, and many more. You can check the complete list on our website: https://jgndefi.com/

We can’t comment on the amount that each of them invested, but they will help Juggernaut reach new highs 🔼

Advantages of your NFT Exchange compared to others?

We have developed a system where people can create their own NFTs in a completely decentralized manner.

Although there are other NFT issuance platforms, most of them are based on ETH, where the gas costs are too high for a majority of crypto users.

We researched the current BSC NFT space looking for trends and needs, and we discovered that although there are other NFT Marketplaces, they are fragmented, and not as inclusive as we want our NFT Exchange to be. There was a need for a clear hub for NFTs on BSC, allowing access to a large number of people.

In our NFT platform, users can buy and sell, participate in auctions, we have a royalty system, create NFTs for free (only small BNB transaction cost), and we have stores of other top BSC projects.

Comparing us with our biggest competitors, BakerySwap and Tresureland, we can see that minting on BakerySwap costs 0.01 BNB (around $4 at current prices), and they don’t allow BEP-1155 NFT creation (to create more copies of your NFTs). Furthermore, users can only buy and sell NFTs using BAKE, their token. We allow payments in JGN and BNB. Treasureland does not allow BEP-1155 creation either, and they do not have an auction system.

On JuggerWORLD, anyone is able to mint NFTs for free (only small transaction fees in BEP-20 BNB). Not only that, but 97.5% of all sales will go directly to artists, and we have created a royalty feature to support creators, especially in these difficult times.

We got recently featured by Binance as one of the top places to create NFTs on BSC! https://academy.binance.com/en/articles/how-to-make-your-own-nfts?ref=JLI1VBLA&utm_source=BinanceTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial 🔼

How is Binance NFT Marketplace going to affect Juggernaut?

We have known about this initiative for a long time, and we think it is a great push towards global adoption of NFTs.

Binance believes in the potential of NFTs, and we are delighted to be able to collaborate with them on future initiatives.

We focus on different markets, they Binance.com users, new to the cryptocurrency market, and we with more advanced users, and artists who want to start creating NFTs, even if they don’t have any knowledge about the technology.

Binance has invested in us, so we think this push from their NFT Marketplace is going to help us a lot. Ultimately, they are not going to be able to cover the entire market, and we will be there to take advantage of the opportunities that arise.

We think Binance really believes in what we are doing, our vision, and the future of Juggernaut, so we are delighted with their new platform.

You can read our position statement here: https://juggernautdefi.medium.com/binance-nft-marketplace-juggernaut-jgn-position-statement-8ba5a8237ded 🔼

How can I mint NFTs?

The process of creating an NFT is relatively straightforward. We offer free creation.

On our platform, there is a section called “create”. You select if you want a copy or several, upload the file (PNG, GIF, WEBP, MP4 or MP3, 30mb), select if you want to put it directly for sale, give it a name, a description, properties if you want (example height 180, or red hair color, for NFT games), you choose the% of royalties (the % that you take with each new sale of your NFT forever), and you press “create”. You need to have BNB in your wallet to pay for the small cost of the transactions 🔼

How do you capture value? What’s the purpose of the JGN token?

If a business or a crypto project over-complicates its economic model, it will most likely not succeed. It is not about re-inventing the wheel, but rather giving the token real utility and real value.

We are building a DeFi + NFT infrastructure and NFT Marketplace. At the end of the day, our economic model is about bringing real value to users and projects around the crypto space.

In terms of capturing value, following Reed’s law, the utility of our ecosystem can scale exponentially with the size of it (the number of people involved). The more people we can attract to our ecosystem, the stronger it gets, and the more opportunities we generate for users and projects.

To capture the value of that growth, we use both traditional and crypto related strategies, like % fees in our NFT exchange or a burning mechanism in our games. On the other hand, we use DeFi specific incentives like staking on Binance Smart Chain (currently on Hyperjump and PancakeSwap, but planning to launch our own soon).

JGN is the token that links our ecosystem together: NFT exchange, NFT farming, Yield Farming, NFT games, etc. It allows us to make aggressive reward systems to jumpstart the project, as well as developing new partnerships in the industry 🔼

Is Juggernaut secure?

We only launch things that have been audited by third parties. We work with a top-tier auditing firm used by some of the biggest crypto exchanges in the world, like Binance, Huobi, or OKEx.

Those audits basically mean that all our smart contracts are secure, and the team can’t randomly steal user’s funds or try to put a back door into our platforms. It also allows us to work with more larger partners in the future.

You can check the majority of our audits here: https://jgndefi.com/resources

And the audit of our JGNNFT.com platform: https://github.com/JGNDeFi/JGN-NFT-1155721-audit-report/blob/main/Smart%20contract%20security%20audit%20report-JGNNFT.pdf 🔼

Why mix DeFi with NFTs?

NFTs are very attractive assets: collectibles, rare items, digital lands, etc. But they are missing three essential things in the world of cryptocurrencies, liquidity, incentives, and utility.

In the end, in terms of liquidity, NFTs are more difficult to buy and sell, because in most cases they cannot be split. In the NFTs platforms, the exchange can happen automatically, 24/7, and with international exposure, so it can help the NFTs a lot in that regard. Decentralized finance protocols can give incentives to NFTs, for example, making them work on different networks or protocols, expanding their possibilities of use, or creating an incentive system with staking (blocking of tokens to generate passive profits). Rewards can also be offered for using certain exchanges, or for performing certain actions.

We think the next phase for NFTs is to put them together with DeFi, and do something entertaining, gamifying the experience. Expand the potential of NFTs, preserving the spirit of decentralized finance. In addition, the best way to highlight the NFTs is when there is a lot of movement of these assets, because this way the ownership and guarantee of authenticity are greatly used 🔼

When Binance?

We can’t comment on that. Binance has a process for listing tokens, that no one can alter, and talking about it can make a project lose all its chances.

Admins are not allowed to speculate or comment on these things as they can dramatically impact the price 🔼

Will the Price go up?

We can’t speculate or comment on price. As a project, we can’t talk about future prices, but we can comment on the good overall performance that JGN has had over the past months 🔼

Why is there are no news?

To deliver great news we need to have meetings internally and externally, set up budgets, coordinate PR and marketing efforts, create a social media campaign, coordinate external partnerships, etc. There are also due diligence processes, documents, and presentations involved.

It takes time, money, and effort. We are always working at something, so if you are not hearing exciting news, ost likely it’s the calm before the storm! 🔼

Are you guys using MM?

MM requires lots of funds and doesn’t necessarily lead to a long term and sustainable project. We can’t comment publicly about MM, or price, especially forward looking 🔼

Do you plan a burn or buyback program?

We always have in mind ways to reduce the circulating supply of JGN. We have already done a couple of burns (that you can check here: https://medium.com/juggernaut-defi/jgn-token-burning-for-exclusive-nft-collections-f55b1b2cf8b9 ). We will explore more buyback and burn programs in the future 🔼

When is staking coming?

Most of the platform and technical implementations are ready. We are waiting to be strategic with the DEX and staking, to not put too much pressure on the JGN supply. We are targeting next couple of months to release it. We might release exciting staking options before that 🔼

What is JuggerDRAW?

JuggerDRAW is the BSC exclusive on-chain NFT lucky draw where you can win big prizes only for JGN holders!

We have done four editions already (don’t play, they are closed):

JuggerDRAW v1

Link: https://bsc.jgndefi.com/juggerdraw/

Recap: https://medium.com/juggernaut-defi/juggerdraw-results-juggerdraw-v2-launch-announcement-58311a12f15b

JuggerDRAW v2

Link: https://bsc.jgndefi.com/drawv2/

Recap: https://medium.com/juggernaut-defi/juggerdraw-v2-all-sold-out-results-are-here-d581bfc24273

JuggerDRAW v3: ThuggerDRAW

Link: https://thuggerdraw.jgndefi.com/

Recap: https://medium.com/juggernaut-defi/thuggerdraw-all-sold-out-in-under-one-hour-3f3ef7c8652d

JuggerDRAW v4: CakeDRAW

Link: https://cakedraw.jgndefi.com/

Recap: https://juggernautdefi.medium.com/cakedraw-all-10k-nfts-sold-out-in-just-over-24-hours-c5b5f8b7115a 🔼

What’s your token distribution?

You can check it here: https://jgndefi.com/assets/pdf/token1.pdf 🔼

Why did the team tokens move to an exchange? Why did a lot of JGN tokens move to an exchange?

There’s lots of investors, team members, etc. who buy and work for tokens. If people want to sell tokens, they are allowed to and that’s their right. This is a good thing. It means that the tokens have value and that people will continue to work for them or buy them off the open market.

Sometimes, exchanges ask for a certain % of tokens, because there is JGN on ETH and BSC. Gate can’t make JGN BSC. We never touch tokens beyond release schedule 🔼

What ecosystems is Juggernaut in?

We are primarily on BSC, but have some presence on ETH through though our initial legacy offerings 🔼

What is the supply of JGN on BSC?

We have 30% of our Total Supply on BSC. The distribution schedule is the same, so the circulating supply does not change.

We burned 2% and 28% of JGN on ETH, for a total of 30%. You can check the details here: https://medium.com/juggernaut-defi/jgn-expanding-on-bsc-30-of-total-supply-now-on-bsc-28-minted-today-e03a6691e853 🔼

What is DeFi?

DeFi or decentralized finance is about recreating traditional finance with a decentralized architecture. Make finance more accessible, eliminate third parties, and focus on security & privacy 🔼

What are NFTs?

NFTs are unique crypto assets that represent digital creations, art, and culture. They can represent a variety of goods such as art, video, music, real estate, news stories, and even tweets 🔼

I can’t find my BEP-1155 NFT on my wallet/explorer

If you can see your NFT under “my collection”, your NFT is definitely in your wallet. There are certain wallets (like trust wallet) or explorers (like bscscan) that don’t support BEP-1155 visualization.

Keep in mind those are third-party projects, so we do not have control over them. 🔼

Juggernaut (JGN) is a complete custom DeFi suite, governance, and NFT ecosystem with full BSC compatibility.

We are creating the go-to BSC NFT Exchange. Open access, freedom of assets, and available for anyone, anywhere.

We are building an NFT infrastructure, games, collections, and our Exclusive BSC NFT Exchange. Juggernaut is building a unique ecosystem, full of exciting use cases, merging the possibilities of DeFi with NFTs.