Jibrel: May Update

Monthly Project Update —May 2020

5 min readJun 5, 2020

Our current priorities are as follows: (1) Releasing additional / adopted JNT utility before the end of Q3 2020 (2) Re-building the Jibrel community (3) Restructuring the project to ensure cost efficiency / faster product delivery

Overall Project Status

Jibrel continues to clean-up its tech stack as well as its development processes. In the last update, Jibrel set the target of Becoming a Leading Cryptocurrency. Externally, we’ve defined that as becoming a Top-100 Token by the end of the year. Internally, we’ve broken that down into improving utility, liquidity, and ratings, with initiatives on delivering uplifts across each defined. Specific preliminary targets for Q3 have been set and are being refined / discussed internally. These targets will be released to the community in the Q2 update (end of June / beginning of July) and will act as the foundation for a quarterly roadmap.

Community members will be able to track the completion of initiatives in real-time, providing high transparency and accountability on technical and operational delivery. This quarterly project roadmap/tracker will provide a better medium to engage the community on Jibrel plans, and how we have fared in delivering against them.

This has been pretty high on the community wish list for some time and we hope it’ll help restore some momentum, internally and externally.

Jibrel Platform

From a regulatory/operational standpoint, the Jibrel platform still has a long way to go before it becomes the ‘tokenization’ platform envisioned in Jibrel’s whitepaper.

Using Jibrel.com’s SPV structure — Jibrel should be able to tokenize any asset

The next critical business development and operational steps involve adjusting the startup tokenization process to allow for different types of assets to be tokenized. Currently, startups on the Jibrel platform are directly engaging with investors. This was done to meet launch targets, but Jibrel now needs to adjust this mechanism to use an SPV model — as originally envisioned — which will allow other types of assets to be more easily tokenized as well.

From a technology perspective, we will continue consolidating our product and service offerings under one brand/entry-point. For users, this means that the on-boarding process will get simplified, and the application itself will get integrated into Jibrel’s other offerings — ‘Tokenize’ will become a feature on Jibrel’s DeFi platform rather than a standalone product. The platform will also be further built out to include staple DeFi features such as borrow and lend (proxy staking). While these features are not innovative, we hope that users will be able to use tokenized assets in Jibrel’s DeFi solutions as well as partner solutions in the future, providing a competitive advantage in user acquisition.

These features will run on JNT and ETH (with JNT providing much more favorable rates).

‘Tokenize’ will become a feature on Jibrel’s DeFi platform rather than a standalone product.

Jibrel Wallet

The wallet teams have reworked the web-wallet as well as the Android and iOS wallets to work on AlchemyAPI. This will allow us to provide a much better user experience, with regards to speed and responsiveness, while simultaneously lightening our stack. This will allow the teams to focus on more important wallet features like security, private key management and DeFi integrations. Users will be notified in their wallets — in app notification — of any actions (e.g. backup/updates) they need to take to avoid any service disruption.

These deliverables and releases are scheduled for the third week of June and should hopefully happen earlier than planned.

The next iterations of the wallet will include new third party integrations that intend to make it easier to interact with Dapps (e.g. WalletConnect), as well as better integrating AlchemyAPI functionalities to provide user experience improvements.

Other Development Activity

Jibrel has begun to wind down other development initiatives in favor of new ones that revolve around JNT and upcoming DeFi solutions. Primarily, a JNT dashboard for users to track the token on a more detailed level than currently offered by block explorers and price feeds. The second planned project is a decentralization dashboard. This dashboard will provide additional information on Jibrel’s DeFi offering, the centralization points (e.g. Oracles Rate-setters), and how we have addressed them.

Note. Both these projects (JNT/Decentralization Dashboards) are lower priority than the DeFi platform (additional JNT utility). For this reason, they are likely to materialize slower than other deliverables.

Human Resources

As Jibrel moves to be a more decentralized project, it's looking to source more talent from the community.

Jibrel is looking for a mid-level Fullstack Developer. Interested parties should email their CVs to careers@jibrel.network.


Key Takeaways

  1. We’ll be releasing quarterly roadmaps with specific deliverables that the community can track starting in July (Q3)
  2. Jibrel is moving the startup tokenization process to facilitate other assets to be tokenized using the same model used for startups
  3. Jwallet clean-up (move to AlchemyAPI) is nearing completion / next steps will include additional integrations
  4. Jibrel Platform is being more generalized and will include other DeFi features (borrow, lend) which will be the foundation of additional JNT utility
  5. Jibrel is looking for a mid-level full-stack developer

Jibrel provides tokenized financial assets such as equities, currencies, commodities and bonds, on the Ethereum blockchain.




Jibrel provides tokenized financial assets such as equities, currencies, commodities and bonds, on the Ethereum blockchain. https://jibrel.network