{
  "docId": "019f6b8f-52dd-703b-97fe-389e7a00b8ad",
  "docSlug": "jarvis-placeholder-thesis-summary",
  "documentTitle": "Placeholder Thesis Summary",
  "authorId": "placeholder-thesis-summary",
  "authorName": null,
  "documentKindSlug": "deck",
  "documentKindLabel": "Deck",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": null,
  "orientation": null,
  "aspectRatio": null,
  "pageNumber": 17,
  "pageCount": 19,
  "prevPage": 16,
  "nextPage": 18,
  "slideType": "customer_journey",
  "function": "illustrate_case",
  "density": "overcrowded",
  "nDataPoints": 0,
  "notes": "The chart illustrates the 'J-curve' effect in crypto token valuation over time.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-52dd-703b-97fe-389e7a00b8ad/17",
  "deckHref": "/decks/019f6b8f-52dd-703b-97fe-389e7a00b8ad",
  "deckJsonHref": "/decks/019f6b8f-52dd-703b-97fe-389e7a00b8ad.json",
  "deckAnchorHref": "/decks/019f6b8f-52dd-703b-97fe-389e7a00b8ad#slide-17",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.2,
        "x": 0.26,
        "y": 0.348
      },
      "kind": "callout",
      "text": "Consider providing liquidity during sharp spikes.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "45309c77-8764-440f-9f02-1615ac46419c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.2,
        "x": 0.05,
        "y": 0.435
      },
      "kind": "callout",
      "text": "Invest through SAFT or proxy equity; 6-18 month dev time",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5eac7e1c-e37e-419a-9ccb-f0986f95e561",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.35,
        "x": 0.57,
        "y": 0.435
      },
      "kind": "callout",
      "text": "Build up winning positions in stages proportional to utility value metrics",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d970ac89-2aa1-4075-849f-89f5f7bbe59d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.92,
        "x": 0.04,
        "y": 0.16
      },
      "kind": "chart",
      "text": "J-curve line showing token value over time across four stages: Whitepaper, Release, Development, Deployment.",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "693c030a-fdd8-49b5-82da-aa201f7f9d68",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.78,
        "x": 0.11,
        "y": 0.565
      },
      "kind": "paragraph",
      "text": "During the whitepaper stage, developer teams often (but not always) raise private capital to fund initial development by “pre-selling” tokens, potentially at a discount to their eventual release price. These funds allow the team to build the protocol.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "26562b43-1fbd-4463-adda-fe150f42dc3f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.78,
        "x": 0.11,
        "y": 0.675
      },
      "kind": "paragraph",
      "text": "The token can then be released to the public in a variety of ways: progressively through mining, via an ICO, an “air drop”, and other combinations. But it takes a long time for utility value to pick up and begin supporting the token’s price, during which time the protocol continues to be in active development. On its way to maturity, a network may fork several times as the protocol evolves, communities diverge, and so on, causing price volatility. Ultimately the network converges to an “equilibrium state” where the protocol is stable and the long term value of its currency is supported by actual increasing demand for the service.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "aad70cef-0136-4e79-a758-95c99cb07822",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.5,
        "x": 0.04,
        "y": 0.12
      },
      "kind": "title",
      "text": "Lifecycle of an investment (the \"Crypto J-curve\")",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e93a394e-6f8c-45d1-a665-48527f27610f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "Crypto J-curve",
      "slug": null,
      "matchId": "49555861-8a0a-45cb-97f3-71646fae1fbd",
      "evidence": "Title and chart visualization",
      "confidence": 1
    }
  ],
  "arcBeats": [],
  "loops": [
    {
      "to": 19,
      "from": 2,
      "name": "Golden Circle",
      "slug": "11-golden-circle",
      "bestFor": "Visionary leadership, brand positioning, mission statements",
      "matchId": "719d7c7d-4420-444b-abbc-3dadfdaa87f9",
      "evidence": "The deck's structure and content suggest a golden circle loop, with a why-what-how progression",
      "position": 0,
      "objective": "Why open standards and open source data drive investment returns",
      "structure": "The Why (Belief) -> The How (Process) -> The What (Result)",
      "confidence": 0.7,
      "description": "Invert the typical pitch by starting with why you exist, rather than what you do"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}