Difference between revisions of "Jump Trading"

Revision as of 04:41, 30 May 2022

Basics

Projects

Certus One

Certus One got acquired by Jump Trading (5-8-2021). Certus One is behind Wormhole. Which got bailed out by Jump Crypto with 120k wETH after it got exploited (3-2-2022).

Jump Crypto

Investments

Acala's aUSD Ecosystem Fund; Jump Crypto is one of the founding funds to grow the Acala stablecoin (23-3-2022)
Rift Protocol; mentioned as a backer on the Rift website (21-3-2022).
Solana; part of a $314M raise with a token sale (9-6-2021).
Terra; part of the $150M Ecosystem investment fund (16-7-2021). When the UST peg broke on the 9th of May 2022, Jump tried defending it, from a thread (16-5-2022):

"They used at least three addresses on Ethereum and spent $682.5M+ in various stablecoins. Basically, they were adding one-side liquidity in USDC since the Curve DAI/USDC/USDT pool was already imbalanced. Jump spent the minted LP tokens on the withdrawal of UST from the pool. Thus, they removed 593M UST from the pool, which should also positively affect the peg. However, even though there was 1.2B liquidity in the pool, UST's price quickly began to decrease.

Interestingly, Jump practically did not transfer UST to Terra for arbitrage until 10 pm on May 9. Then they transferred 588.6M and started swapping 745.6M UST for LUNA only on May 11. Of course, they did arbitrage before this day, but not on a large scale. At the same time, Jump performed Anchor liquidations and received at least 1.6M bLUNA. On May 12, Jump finished native swaps on Terra turning 640M UST into 221M LUNA. Received coins were delegated to 5 validators. They control 36% of the total staked LUNA."

Is backing TrueUSD
Oasis Network; one of the contributors to the $160m Ecosystem Fund (17-11-2021)

Team, Partners

Mentioned as a partner on the BitDAO website (8-3-2022).

@@ Line 14: / Line 14: @@
 *[[Rift Protocol]]; mentioned as a backer on the Rift [https://rift.finance/ website] (21-3-2022).
 *[[Solana (SOL)|Solana]]; part of a [https://www.coindesk.com/solana-labs-raises-314m-in-token-sale-led-by-a16z-polychain $314M] raise with a [[token]] sale (9-6-2021).
-*[[Terra (LUNA)|Terra]]; [https://medium.com/terra-money/introducing-the-150-million-terra-ecosystem-fund-6aee01629edc part of] the $150M Ecosystem investment fund (16-7-2021).
+*[[Terra (LUNA)|Terra]]; [https://medium.com/terra-money/introducing-the-150-million-terra-ecosystem-fund-6aee01629edc part of] the $150M Ecosystem investment fund (16-7-2021). When the UST peg broke on the 9th of May 2022, Jump tried defending it, from a [https://twitter.com/FrankResearcher/status/1526156096515317762?t=bvMOe0ssoe9BH3FEDI4tBA&s=19 thread] (16-5-2022):
+''"They used at least three [[addresses]] on [[Ethereum (ETH)|Ethereum]] and spent $682.5M+ in various [[stablecoins]]. Basically, they were adding one-side liquidity in [[US Dollar Coin (USDC)|USDC]] since the [[Curve]] [[Maker DAO|DAI]]/USDC/[[Tether (USDT)|USDT]] pool was already imbalanced. Jump spent the minted [[Liquidity Provider (LP)|LP]] [[tokens]] on the withdrawal of UST from the pool. Thus, they removed 593M UST from the pool, which should also positively affect the peg. However, even though there was 1.2B [[liquidity]] in the pool, UST's price quickly began to decrease.''
+''Interestingly, Jump practically did not transfer UST to Terra for [[arbitrage]] until 10 pm on May 9. Then they transferred 588.6M and started swapping 745.6M UST for [[LUNA]] only on May 11. Of course, they did arbitrage before this day, but not on a large scale. At the same time, Jump performed [[Anchor (ANC)|Anchor]] liquidations and received at least 1.6M bLUNA. On May 12, Jump finished native [[swaps]] on Terra turning 640M UST into 221M LUNA. Received coins were delegated to 5 [[validator]]<nowiki/>s. They control 36% of the total [[staked]] LUNA."''
 * Is backing [[TrueUSD (TUSD)|TrueUSD]]
 * [[Oasis Network (ROSE)|Oasis Network]]; one of the contributors to the $160m Ecosystem Fund (17-11-2021)