Unlock the potential of WJXN with our yield program
We are excited to announce the launch of yield payments on staking our utility tokens WJXN-2 (BEP-20). This marks a significant milestone in our journey to enhance the value proposition for our token holders. Starting from now, all holders can stake their tokens on our DeFi platform Jax.Money and receive yield. Read the article to learn more about the staking process.
How we generate yield
WJXN is a utility token of the Jax.Network ecosystem that has several use cases, including staking. As the price of WJXN represents the value of the entire ecosystem, it’s mandatory to take into consideration the holders of our tokens via a staking process where they get access to a portion of the transaction fees.
As we disclosed earlier this year, our main product market fit is a payment system promoting our localised stablecoins based on innovative trading bots that serve as an entry point from fiat to stablecoins (i.e. the order book on P2P exchanges). Currently, we operate on a custom-made private blockchain, which allows us to minimise transaction fees and optimise the trading process. Thanks to the stable operation of these bots, we can increase transaction volumes subsequently generating yield to WJXN stakers. The annual percentage yield (APY) is variable, meaning it depends on the volumes processed. Please visit jax.money for more information.
Our vision for the future
As we continue to scale our business operation, we plan to move our entire p2p trading infrastructure to a public blockchain for higher transparency — probably a chain operated by us. Moreover, while we currently settle trades exclusively in USDT, we will eventually move to our localised stablecoins as we build up liquidity. This will enable us to better serve diverse markets and increase transaction volumes, leading to even higher yields for our token stakers. Ultimately, we aim to become the preferred cashier-as-a-service for exchanges in different markets.
As we stated in our roadmap, we aim to ensure the total daily yield reaches $3000 already this quarter. In addition, we are determined to increase this number tenfold by the end of the year. This ambitious goal reflects our confidence in the scalability of our p2p fiat on-ramping system and the robustness of our trading bots.
The p2p fiat onramping model is highly scalable. By entering more markets and increasing transaction volumes, we create a more lucrative ecosystem for all parties involved.
Note on WJXN-2
Our staking program supports only WJXN-2 (BEP-20) tokens. We understand that most holders have WJXN (ERC-20) or WJXN (BEP-20) and transitioning from WJXN to WJXN-2 (BEP-20) may be a bit complicated, as it requires the use of a bridge. To assist you, we will publish a detailed guide on how to swap WJXN to WJXN-2. This guide will provide a step-by-step walkthrough to ensure a smooth transition.
Conclusion
The launch of the token yield program is one of the crucial milestones in our roadmap. We are committed to continually improving the Jax.Money platform. Stay updated with the latest news and developments by following our social media channels and joining our community discussions.
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