Urgent JNTR Token Migration
The JNTR token has witnessed over 99% of onboarding fail due to KYC issues. In order to alleviate this issue and provide great value to JNTR investors and the JNTR ecosystem, Jointer has recalled all original JNTR tokens.
The new JNTR address with the reverse KYC built into the whitelist is: 0x5f2caa99fc378248ac02cbbaac27e3fa155ed2c4. Please add this to your wallet to see your balance.
We are currently seeing a display issue on the Jointer.io page but the blockchain has been completely replicated. There is no additional action required on your side except to update your MetaMask wallet to display the new JNTR contract.
The original JNTR token, Auction, and Reserves were replicated.
NOTE: We are still witnessing a display issue on the Harvest / Farm User Interface.
The display is showing NaN JNTR under the total locked JNTR. Reach out directly to email@example.com if you experienced this and had locked JNTR
What is Reverse KYC and why did Jointer implement it
Since inception, Jointer has focused on compliance in the decentralized finance (DeFi) space. In addition to filling several patents for their syndication protocol and multi-layered reserve system, Jointer operates under Regulation D 506 © and Regulation S. To the crypto community, this means dreaded KYC / AML and potentially even accreditation. While KYC and AML may be against crypto, it is crucial to keeping out bad actors and helping governments support blockchain and DeFi.
Jointer, the sole creators of the first DAO syndication model, is innovating again with their new reverse KYC process.
Being clear, KYC / AML and accreditation is not meant to be an easy process. It is meant to stop fraud, money laundering, and unqualified investors from a regulatory standpoint from investing in their flagship token, JNTR. Due to the arduous nature of KYC, Jointer does not want to punish investors for a slow KYC response time. Therefore, Jointer developed and implemented Reverse KYC for DeFi investors.
KYC/AML and accreditation checks are a part of an ongoing compliance process that Jointer has followed since inception. Therefore, Jointer is simply reversing the verification process to make it more friendly for investors without taking any legal shortcuts.
Reverse KYC allows investors to purchase JNTR from their one of a kind DeFi Auction or swap to JNTR through SmartSwap. The investor in JNTR will then have to start the KYC process in order to send, sell, swap, or redeem JNTR. So basically users can receive the crypto but if they are trying any funny business or are a criminal, they are unable to send or sell the cryptocurrency.
This means until the investor passes KYC/AML and potentially accreditation, their JNTR will be locked indefinitely from moving. Investors can still opt to gain access to the whitelist before investing by passing the checks before investing, the traditional and forward process.
In order to make sure investors understand the risk, Jointer will display the following message to ensure all investors CONFIRM this
“ALL your JNTR tokens that are sent to your wallet will be LOCKED FOREVER with NO ability to send, sell, swap, or redeem until you successfully complete your KYC/AML. If you are from a regulated country like the USA, you will also need to complete accreditation compliance with Regulation D 506(c) otherwise you will be unable to move your JNTR.
You can avoid that risk by clicking here to start your KYC/AML before investing or swapping, otherwise type the word CONFIRM to show that you understand and agree to the above terms.”
Jointer is passionate about the BUIDL philosophy outlined by Binance as well as remaining compliant. Check out the Jointer Auction today and experience reverse KYC.