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.
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).
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.