London, UK, July 30, 2021 (GLOBE NEWSWIRE) -- Trading is mining, MDEX, as the big brother, introduced this concept to the DeFi world for the first time. As we all know, due to low TPS and other factors on public chains, such as Ethereum, transaction fees are often tens of dollars or even hundreds of dollars, and these transaction costs will inevitably be borne by investors in the cryptocurrency circle, which will lead to limited transaction power and no better way to discover the value of assets.
OKEX’s high performance makes "trading is mining" easier to achieve. Jswap is the first to propose this concept on the OK chain and dynamically upgrade and adjust the mining mode, so that investors and traders can achieve a win-win situation under this economic model.
In addition, it is worth mentioning that, as a new comer of the new-generation DEX, facing the mature ecology of other public chains and a large number of users, Jswap chooses unique way of breaking the game, that is, the introduction of a “Recommendation Mechanism", and the recommendation data will be available on the chain.
Finally, from the design of Jswap's economic model, we would apparently see more hot spots, especially the elevation of the project value by the token economy. As will be mentioned later, all of Jswap’s daily income will be repurchased by smart contracts in the secondary market automatically. 20% of the repurchase will be automatically burned, 70% will be distributed to the "dividend pool" pledger, and 10% will be the promoter’s commission.
Therefore, the JF token is a deflation model. If the future transaction volume is large enough, the deflation effect will be more obvious, and the smart contracts will automatically buy back in the secondary market, which will bring strong backing expectations for the token price.
OKexChain may bring unprecedented convenience. And Jswap is one of the lucky ones in the heating period. Compared with the top-tier Dex on other public chains, the market value growth of Jswap after its launch is worth looking forward to:
Different from other Dexs on the OKexChain, Jswap highlights on decentralized transactions and assets management, which perfectly fits OKexChain’s "public chain for transaction" characteristics.
To put it simply, Jswap (Jswap.Finance) is a decentralized transactions and assets management protocol based on OKexChain. It supports Swap Mining, Liquidity Mining, DAO Dividends Pool, Single Token Vault (Machine Gun Pool), Single Token Liquidity Mining (providing liquidity for other swaps spontaneously), Stable Token Exchange, Market Charts and other functions. All these create a one-stop DeFi services platform for users.
In addition to the conventional Dex’s trading and fund pool functions, Jswap's presents two distinctive and innovative products, namely Swap Mining and Cornucopia Service. Here is a brief introduction to these products:
Jswap is a decentralized and innovative trading platform. In the process of swapping, users will receive the corresponding governance token JF reward, that is, "swap mining". Swap mining is divided into "long-term mining" and "dynamic mining”:
There are also two types of generating token rewards for Swap Mining:
(1) Long-term mining: long-term open for mainstream currencies;
(2) Dynamic mining: for all ecological projects on OKExChain, mining is automatically turned on if the fund pool is greater than 1 million USD, and mining is automatically turned off if the fund pool is less than 1 million USD.
Full rebate: according to the transaction fee + transaction slippage, the equivalent JF compensation reward will be obtained.
Ordinary rebate: Only the amount consumed by the transaction fee will receive the equivalent JF compensation reward; (It will be adjusted flexibly according to different periods of platform development, JF market and output, etc., as well as 100% rewards, 50%, 1200%, etc.)
Liquidity Pool and LP Mining: On the "Liquidity Pool" webpage, users can provide liquidity for the supported trading pairs, that is, deposit the same proportion of two assets, not only can get the share of the total transaction fee (0.3%) of the trading pair, but also the corresponding LP token, and then pledge it to the "LP mining" pool to obtain JF or other token rewards. The fee share obtained in the transaction pair will be added to the asset pool in real time. When the liquidity supply is terminated, the fee will be withdrawn spontaneously.
Cornucopia Service: Cornucopia Service at Jswap supports most mainstream assets to obtain JF losslessly with a single token. Everyone can deposit idle tokens into mining, and withdraw freely. The function of Cornucopia Service will attract large coin holders to make use of idle as well as long-termly holding cryptocurrencies. If Cornucopia Service runs soundly, it may become the “Yu'ebao" in the blockchain space.
DAO Dividends Pool: Jswap dividends pool, adhering to the autonomy spirit of co-construction of community and benefit sharing, uses smart contracts to distribute all platform benefits to all supporters in the community fairly through a simple and transparent dividends pool mechanism. The team will never touch or possess any of these benefits in any forms.
(1) Anyone can pledge a single JF currency into the "dividend pool" and obtain the dividend rights to enjoy the dividend income, and can also withdraw JF from the "dividend pool" at any time (a 5% handling fee is charged) to end the dividend.
(2) All the daily income of the platform will be repurchased by the smart contract in the secondary market. 20% of the repurchase proceeds will be automatically burned, 70% will be distributed to the "dividend pool" pledger, and 10% will be used as the market expansion commission fund.
(3) Anyone who activates the "dividend pool" function for the first time must fill in the Invitation code. According to personal promotion performance (that is, the amount of JF pledged by all friends who fill in your invitation code), the proportion of the total amount of pledged JF on the platform will participate in the sharing. 10% market expansion commission fund of all daily platform income.
(4) Two-level promotion incentives, anyone can get the next two levels of incentives (level-1: 5%, level-2: 3%), promotion rewards will be deducted and transferred to upper level users while invited users withdraw from the "dividends pool”.
Jswap’s Innovation and Advantages
Jswap's swap mining is different from other platforms. It is a flexible compensation reward based on the loss of each user's "transaction fee" and "transaction slippage", and automatically supports all ecological projects in the public chain, ensuring the project parties who come to Jswap liquidity pool and their community users maximize the benefits, and at the same time, it supports the ecological development of other projects, and helps value attach and promotion. Therefore, it would be very attractive for projects to trade in Jswap liquidity pool.
In addition, the output of Jswap swap mining is determined based on the user's real transaction volume, rather than a fixed release of each pool on a daily basis like other platforms, and then divided according to the transaction share, so it is more fair and reasonable, close to "fair launch" , It also avoids the concentration of chips in the hands of early birds and big players, and reduces the pressure of subsequent huge chips.
Finally, the introduction of the recommendation mechanism will help Jswap users increase rapidly. Although this mechanism is only level 2, once the "fission" effect occurs, it can be expected that Jswap's user base will rapidly expand, forming a "snowball" effect. The increase in trading users and frequency can lead to token deflation and backing of the price in the secondary market, and forming a virtuous circle.
All in all, Jswap is not only a simple swap, but also a multi-chain parallel series of financial management protocol, a one-stop DeFi service platform, a variety of profit models and unlimited flexible derivation possibilities. And it maintains many differences with other platforms of the same type. Jswap has completed the development of all functions, and has passed the security audit of third-party organizations, and is committed to creating a secure and smooth user experience.
With the advent of the DeFi era, swap/Dex's technology, concepts, algorithms, and usage requirements have become more and more popular and mature. In the fierce market competition, Jswap devotes to find a new way to integrate decentralized transactions and financial management protocols (Dex & DeFi). Through efficient and effective integration, bring users a theater one-stop experience and value capture. As a highly innovative and high-quality project on OKexChain, Jswap has a greater chance to become a top Dex on OKExChain!
Contact Name: Andre Martin