Jointer
Published in

Jointer

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.

OLD JNTR: 0x014a5bcd4ba9b327738d550762fd592014b77180

NEW JNTR: 0x5f2caa99fc378248ac02cbbaac27e3fa155ed2c4

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 jude@jointer.io 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.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Kyle White

Kyle White

Hands on Angel Investor and Advocate for DLT