Coinstore is proud to announce our recent listing: Jupiter Finance Token (JFT), built by the amazing team behind Jupiter Finance.
What is Jupiter Finance?
The Jupiter Team has a grand vision – they plan on developing a platform that aggregates all major exchanges liquidity (centralised and decentralised) into one seamlessly aggregated order book to give you the best price possible on one platform, powered by their native token JFT. While it seems like a colossal task and a lofty claim, the team recently released sneak previews of their JupiterSwap platform (work-in-progress) which is indeed impressive! Stay tuned for new updates!
JFT Token Overview
Moving on to the core details of the JFT Token:
Total Supply: 1,000,000,000
Market Cap: 250,000 USDT
Transaction Tax: 1.1% (1% burnt, 0.1% liquidity creation)
Launched on the Binance Smart Chain (BSC) network, JFT aims to provides users with the convenience of accessing different types of exchanges all on one platform, a one-stop solution.
“The Coinstore Listing Team was pleased to receive the listing application for JFT Token, after conducting our internal review, we fast-tracked the listing process as we felt that this token has a clear roadmap and real use-case in their development plans.” – Eleven Liu, Token Listing, Coinstore Operations.
What is the Token Utility Of JFT?
As the native token on all Jupiter Finance Platforms, the JFT token is designed to be utilised on all Jupiter Finance platforms in the pipeline. JFT can be expected to be used for:
– JFT’s upcoming DEX: Staking and Lending to generate rewards
– P2P Trade
– JFT’s Synthetic Exchange
– JFT’s NFT Marketplace
– JFT’s Exchange Aggregator
At the time of writing, each JFT token is valued at 0.00025~ USDT, with the value of JFT expected to multiply due to the token’s deflationary nature, and once JFT releases the different JFT platforms and aggregator. The use-case scenarios for JFT are quite well thought out, as JFT holders (holding at least 350,000 JFT) are entitled to innovative incentives such as discounts on trading fees for all swaps and exchanges.
A Look at JFT Tokenomics
JFT’s token supply is 1,000,000,000. With a target to burn 1% of JFT transacted for every transaction. The tokenomics are as such:
– 30% tokens for Team – locked in TrustLocker for 9 months.
– Up to 30% will be locked for liquidity in PancakeSwap (10% will then be unlocked every 3 months—November 2021, February 2022, and May 2022, up to 25-30%)
– 40-45% tokens are used for marketing, circulation, listing on exchanges, and airdrop distribution.
– BSC Token Contract Address: 0xc27f02eb14c58971d47bba6214547e4c711a0346
Even though the team is entitled to 30% of the JFT Token Supply, it is stated in their whitepaper that this portion may also be used for JFT incentives such as exchange integration, user yield, gas fee subsidies, synthetic liquidity pools, etc. While this is certainly laudable to the JFT team’s credit, Coinstore would very much prefer a clearer definition of the breakdown use for incentives to instill confidence in the community.
JFT AMA on Coinstore
To answer the Coinstore community on JFT’s vision and use, Coinstore hosted an AMA on Telegram with JFT Project Introduction, Q&A from Coinstore’s Una, and finally live questions from the Coinstore community, helmed by JFT’s Stanley. Read the recap on Coinstore’s Medium: JFT x Coinstore AMA RECAP
What are JFT’s Future Project Plans?
With an aim to become an aggregator for multiple crypto exchanges, providing multiple crypto solutions on one single platform, JFT strives to become the first in the crypto industry to accomplish this. There are 3 main platforms—crypto exchange, synthetic exchange, and NFT marketplace—providing a wide variety of services to the JFT community. Plans are also put in place to provide escrow and staking services with rewards.
Currently, Jupiter Finance is working on their AMM exchange and aggregator for Crypto Jupiterex. According to the project team, JupiterSwap, their DEX supporting BSC and Polygon chain, will likely be available by the end 2021. Once again, Coinstore wishes the JFT team continued success in their upcoming plans!
Find out more about JFT’s plans, team members, and project roadmap on their website: https://www.jupiter-finance.com/
Join JFT’s Community on Telegram: http://t.me/Jupiter_JFT
Get $JFT on Coinstore: https://www.coinstore.com/#/spot/JFTUSDT
Download the Coinstore app: https://www.coinstore.com
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