JGN Token Burning for First Exclusive NFT Collection

Juggernaut (JGN)
Nov 19 · 2 min read
Image for post
Image for post

We are excited to announce our new Token Burning Program. For each NFT bought in our platform, we will burn the jXP tokens needed to acquire it + JGN tokens.

This will decrease the JGN circulating supply and make jXP tokens more scarce to get. We want to implement a natural burning mechanism into our NFT Offerings.

Image for post
Image for post

We released our first Exclusive NFT Collection, “The Beauty in Decay” by Shane Rottweilor on November 20, 2020.

We will burn all the jXP tokens collected plus 0.05 JGN for every jXP point burned. For example, for every 1M jXP, we will burn 50k JGN.

As of noon of November 21, 2020 (EST), there are 1,431,000 jXP collected so far from our NFT Offerings. We are going to burn 1,431,000 jXP and 71,550 JGN tokens (which is 5% of the jXP that has been collected).

Image for post
Image for post
Burn tokens, burn

The first burning is happening today, November 21, 2020

For public view, this is the address that collects all the NFTs jXP tokens:

And this is the address where all the tokens will get burnt:

JXP burn transaction hash: https://etherscan.io/tx/0x586414073fa8288443260802265294ed4a569f8cacc04afd078181444b0e3851

JGN burn transaction hash: https://etherscan.io/tx/0x19089445665e8d6193085ea8e71927218f27d1b2088161e83455ea98d52aa1a1

With this burning mechanism, we want to help our NFT Collections become more popular in the JGN ecosystem because now every NFT will be connected to both jXP and JGN tokens. We hope this makes JGN holders excited about upcoming Exclusive NFT Collections.

Juggernaut is building a DEFI + NFT infrastructure. JGN is making DeFi and NFTs simple and easy to use for any business use-case. The JGN mission is to help anyone that thinks of a business idea to add customized DeFi and NFTs into its components.

Be sure to follow us on Twitter, Telegram, and Medium for more updates on JGN!

JGN DeFi

The World’s First Unstoppable DeFi + NFT Infrastructure

Juggernaut (JGN)

Written by

Welcome to Unstoppable DeFi + NFT!

JGN DeFi

JGN DeFi

Welcome to unstoppable DeFi. Dynamically share value with stakeholders and create border-less accountability with custom JGN synthetics.

Juggernaut (JGN)

Written by

Welcome to Unstoppable DeFi + NFT!

JGN DeFi

JGN DeFi

Welcome to unstoppable DeFi. Dynamically share value with stakeholders and create border-less accountability with custom JGN synthetics.

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

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