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Insights into who we are, what inspired Jaypeggers, and the values that we stand for.
Jaypeggers is a tax-loss harvesting solution for NFTs. Backed by the JAY token, Jaypeggers enables users to secure tax savings by harvesting NFT losses, earn platform rewards and hunt for arbitrage.
Tax-loss harvesting is a common investment strategy that involves selling an asset at a loss in order to offset capital gains and reduce tax liability for a given year. Learn more about tax-loss harvesting here.
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
Since the boom in the NFT market began, there have been countless examples of massive gains as well as massive losses. The market quickly turned into a casino for collectors and traders to gamble on minting the next hit NFT. Volatility in collection prices, lack of demand, and countless scams and influencer pump and dumps created cause for concern in regards to liquidity.
We learned that liquidity can dry up extremely quick in NFT collections, leaving holders unable to sell. Even with the recent introduction of NFT liquidity pools, exit liquidity can be impossible to come by in many collections. Oftentimes, a total lack of demand creates the inability to realize a loss, even when listing the NFT at an extremely low price.
Jaypeggers is on a mission to help NFT collectors realize their NFT losses through harvesting and ultimately decrease their tax liabilities.
Jaypeggers is a service designed to help NFT collectors save money. Harvesting your losses should not break the bank, and it should certainly not cost you more than your potential savings. We are dedicated to keeping our harvesting fees low to ensure the best outcomes for our users.
While building Jaypeggers we realized that there was potential to deliver more than just savings to the NFT community. As noted in Vault, the vault that backs JAY increases as a function of platform transaction volume. This enables users to tap into Jaypeggers' growth model simply by holding JAY. Additionally, the Arbitrage Marketplace offers the opportunity to purchase NFTs for below their market value, flip them on other marketplaces, and secure profits. We've also introduced Liquidity as yet another way for users to find value with Jaypeggers.
Navigating blockchain platforms can require a certain level of base knowledge and an awareness of safety precautions. This makes Web3 intimidating for many new users. Using Jaypeggers should not be an overwhelming experience, so we have designed our UI/UX to be easy to follow. Filters make searching for NFTs simple and APIs are utilized to present collection stats and trading history from other marketplaces for optimal NFT arbitrage hunting.
A summary of Jaypeggers and the JAY token economic model
JAY is a financial tool that provides the exit liquidity necessary to sell your NFTs. Users pay a small fee to Jaypeggers for each NFT they wish to sell. Jaypeggers issues JAY to the user in proportion to the number of NFTs being sold. This transaction enables users to realize a loss on their NFT(s) and ultimately reduce their capital gains tax liability.
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
The Jaypeggers vault is the backing for the JAY token and is at the center of all transactions associated with the platform. The vault receives a portion of ETH from fees collected on each transaction. This results in the value of JAY increasing as a function of total platform transaction volume. In other words, the value of the vault (disregarding JAY in circulation), denominated in ETH, will only increase.
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
While the vault will grow, in terms of ETH, from every transaction on Jaypeggers, the potential gains for JAY holders would be hindered by a large or infinite supply. In order to maximize potential gains, JAY exhibits an elastic supply that is controlled by a built-in mint/burn mechanism.
JAY is minted in exchange for harvesting NFTs, and the only other way to mint JAY is by purchasing it on the Jaypeggers app. These purchases are subject to a fee, similar to a reflection tax, to offset the supply increase and incentivize holding.
Conversely, JAY is burned when users purchase NFTs from the Arbitrage Marketplace. JAY can also be sold the Jaypeggers app. When JAY is sold, 100% of the tokens being sold are burned and a portion of their ETH backing is retained in the vault. This burn mechanism benefits holders by increasing the value of the vault while simultaneously decreasing supply and offering further incentive to hold JAY.
See detailed fee structure and logic in JAY Token.
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
An in-depth look at how Jaypeggers facilitates NFT tax-loss harvesting
Tax-loss harvesting is a common investment strategy that involves selling an asset at a loss in order to offset capital gains and reduce tax liability for a given year.
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
Liquidity and demand shortages can make it difficult to realize a loss on NFTs. Jaypeggers solves this issue by providing exit liquidity via JAY. Since liquidity is derived from trading and platform fees, as described in #the-jaypeggers-vault, there will always be exit liquidity readily available on Jaypeggers.
The above flow chart depicts the flow of assets that occurs when a user harvests an NFT. The user pays a service fee of ~0.001 ETH per NFT harvested. 25% of the ETH is collected by the Jaypeggers team and the other 75% is sent to the vault that backs JAY. The user receives 50% of their ETH's value as newly minted JAY. In other words, the vault collects a 25% premium to ensure that the amount of ETH backing JAY increases at a greater rate than the total supply of JAY. This results in the value of JAY increasing with each NFT harvested.
Harvested NFTs are immediately listed in the Jaypeggers 'Thrift Store' or Arbitrage Marketplace.
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
Users may wish to harvest multiple NFTs in a single transaction. This is the most efficient harvesting strategy as it can greatly reduce total gas fees. Jaypeggers facilitates bulk harvesting for up to 500 unique IDs (ERC-721) and an infinite amount of fungible tokens (ERC-1155). Jaypeggers may offer promotions and periodic discounts on bulk harvesting. Currently, any transaction bulk harvesting 100+ NFTs will have a 50% discount.
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
An overview of the Jaypeggers NFT Arbitrage Marketplace—AKA "Thrift Store"
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
An in-depth look at the asset flow and fee structure for buying and selling JAY
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
Unlike most cryptocurrencies, JAY exchanges do not rely on liquidity pools or market makers on a CEX/DEX. Instead, the liquidity that is required to exchange ETH/JAY or JAY/ETH is derived from the Jaypeggers vault and corresponding mint/burn mechanism.
While Jaypeggers is not reliant on liquidity, as stated above, a JAY/USDC liquidity pool will enable the creation of arbitrage opportunities beyond those found in the Arbitrage Marketplace.
For example, if ETH increases in USD value, then it will be cheaper to purchase JAY from the USDC pool than from the contract. Since new tokens are not minted when purchasing from the liquidity pool, the user also avoids the fees that are applied when purchasing JAY with ETH on the Jaypeggers app. Conversley, if ETH decreases in USD value, then it may be cheaper to eat the fees and purchase JAY with ETH from the contract on the Jaypeggers app.
The fee structures shown below in #buying-jayand#selling-jaydetail an incentive model for users to provide liquidity to JAY/USDC and stake their corresponding LP tokens.
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
In addition to acquiring JAY via NFT harvesting, JAY can also be purchased directly from the Jaypeggers app using ETH. When a user buys JAY with ETH on Jaypeggers, new tokens are minted through the Jaypeggers contract. JAY purchases have a 10% tax that is distributed to LP stakers, the Jaypeggers team and the vault. LP Stakers recieve 2% as added incentive to provide liquidity and stake LP tokens. The Jaypeggers team receives 1% as operating revenue. Finally, the vault receives 7% to ensure that the amount of ETH backing JAY increases at a greater rate than the total supply of JAY.
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
Similar to the above purchasing method, JAY can also be sold for ETH directly through the Jaypeggers app. At the point of sale, users receive 90% of their JAY's value in ETH from the Jaypeggers vault. The remaining 10% is allocated at 2% to LP stakers, 1% to the Jaypeggers team, and 7% is retained in the vault. The underlying JAY tokens are burned causing a decrease to the total supply whilst the 7% vault retention increases the amount of ETH backing JAY. The process of reducing supply and simultaneously increasing ETH backing ensures that the value of JAY will increase even when it is being sold.
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
The ability to purchase NFTs from the vault at a low price creates the opportunity to hunt for arbitrage and/or speculate on the future value of these assets. Jaypeggers uses APIs from other marketplaces to present price and volume data to make the arbitrage hunting experience that much easier.
It is not uncommon to find NFTs in the vault that have a market price, floor price, or active bids for above the cost of purchasing from Jaypeggers. We encourage our users to take advantage of these opportunities to turn a profit and/or find an undervalued grail to add to their collection.
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.
A look at the first variant in the Jaypeggers ecosystem
The original JAY token model has proven its ability to generate yield. Users have shown demand by storing their ETH in JAY and locking liquidity in the pool. Doing so enables users to earn yield on their ETH from transactions on Jaypeggers. This is great, however it still exposes the user to potential downside on ETH/USD. This is where jUSDC comes into play!
jUSDC is similar to JAY, but it is backed by USDC instead of ETH. Like JAY, jUSDC can be purchased (minted) and sold (burned) in the Jaypeggers app, but it is subject to a slightly different fee structure.
When minting/burning jUSDC via the app, users are interacting directly with the contract. These transactions are subject to a 10% fee that is broken down as follows:
6% added to jUSDC backing
2% distributed to LP stakers
1% as team revenue
1% to a wallet that will periodically sell jUSDC to add to JAY backing
Similar to JAY, the 6% fee added to jUSDC backing ensures that the value of 1 jUSDC token only increases! When tokens are minted, the total backing increases at a greater rate than that of the supply. When tokens are burned, the backing per token increases while the supply decreases.
Additionally, the 2% fee to LP stakers is identical to that of JAY! Users can provide jUSDC/ETH to the Uniswap LP and receive an extra cut of fees from Jaypeggers! This incentivizes liquidity in the LP to enable activity in the zero-tax pool which will ultimately create the arbitrage opportunities that JAY holders know and love.
Trade $jUSDC from our app: https://app.jaypeggers.com/
$jUSDC Contract Address: 0xca9f9671765F8D1A7e19ae2639E01FFF730f0D9B
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Each NFT that is harvested with Jaypeggers is immediately placed into the Jaypeggers NFT vault. NFTs in the vault are available for purchase with a combination of ETH and JAY. The associated JAY is burned and ETH is split equally between the Jaypeggers team and the vault that backs JAY. Allocating ETH to the vault, while simultaneously burning JAY from the supply, enables the value of JAY to increase with each NFT purchased from Jaypeggers.
Jaypeggers aims to keep the total price per NFT below USD $20.00.
Disclaimer: Due to the variety of tax law across jurisdictions, the contents of this website are intended to convey general information only and not to provide legal advice or tax advice or opinions. The contents of this website, and the posting and viewing of the information on this website, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. The information presented on this website may not reflect the most current legal developments. No action should be taken in reliance on the information contained on this website and we disclaim all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. A tax attorney should be contacted for advice on specific legal issues.