Token Spotlight: JELLY
8/6/2024
JELLY is the ecosystem token of Jellycubes, a unique and innovative NFT collection on the Cardano blockchain developed by the Block Investment Group (BIG). This collection is known for its 404 token distribution model, where each Jellycube NFT entitles the holder to a specific number of JELLY tokens, creating a direct link between the NFTs and the tokenomics. This article will delve into JELLY, its distribution, utility, and more.
Jelly Distribution & Tokenomics
Jelly has a total supply of 39 million tokens, of which 5.39 million are currently circulating, equivalent to 13.82% of the tokens supply. At 0.125 ADA per JELLY, this gives the token a Market Cap of Market Cap of $218.76K and a Fully Diluted Value (FDV) of $1.58M, placing it at #80 in the Top 100 tokens on Cardano.
There are currently 1,125 wallets holding the JELLY token, with the holder count increasing 3.5% in the last 30 days. The token has a Median Holder Balance of 45 JELLY, equivalent to 5.64 ADA, and an Average Holder Age of 198.81 days, highlighting a dedicated community that has been supporting the Jellycubes ecosystem.
Liquidity
JELLY has 187.08K ADA in liquidity across 4 Decentralized Exchanges on the Cardano blockchain. The vast majority of this liquidity is on the Minswap V2 DEX which holds 98.87% of the tokens liquidity, followed by Vyfinance which holds 0.74%, and Spectrum Finance being the third most liquid DEX with 0.33% of the JELLY token liquidity.
Volume
JELLY has a Lifetime Trading Volume of 6.64 million ADA, equivalent to 22.60 million JELLY, across 6,571 trades on Decentralized Exchanges. The majority of this volume has been on the Spectrum Finance exchange. The Shrimp (0–5k ADA) wallet size leads this token in trading volume, with the Fish (5–25k ADA) wallet size coming in second place. The token with the least trading volume for JELLY is the whale (1M+ ADA) wallet size.
Utility
We’ll now delve into the various utilities that JELLY has to offer its holders.
Exclusive products: Holders of JELLY can utilize their tokens to purchase exclusive Jellycube products & Merchandise.
Jelly Distributions: Owning +8 points ofJellycubes gives holders a percentage of monthly fees generated by the Jellycubes ecosystem.
Jelly Alpha Subscription: Monthly Alpha group subscriptions are tied to the JELLY token and can be paid using 1000 JELLY tokens.
Fractionalized Ownership: Every 10k JELLY can redeem 1 point of Jellycube NFTs, allowing for partial ownership of NFT assets.
Jellypad: JELLY holders can utilize their tokens in Jellypad offerings to get exclusive access to token sales, NFT raffles, and more.
Conclusion
The JELLY token is a central component of the Jellycubes ecosystem on the Cardano blockchain. This ecosystem utilizes a fractionalized ownership model, enabling users to own and trade portions of NFTs. This approach democratizes access to the Jellycubes ecosystem, allowing a broader range of participants to engage by lowering the entry barrier. JELLY token holders benefit from various utilities within the ecosystem, such as exclusive product access and involvement in Jellypad offerings. It will be interesting to see how the JELLY token and its ecosystem develop over the coming months and years.
You can find out more about the JELLY token at the following link: https://www.jellycubes.com/
This article is strictly for informational purposes and does not constitute a promotion or financial advice. Our aim is solely to provide users with the latest news and updates within the Cardano ecosystem. Token info was accurate at the time of writing.
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