in

Jax.Network team assuages community’s doubts – Refines token sale process

Jax.Network team assuages community’s doubts – Refines token sale process 1


Jax.Network token sale is underway in full swing and is gaining momentum. Till now, three full rounds of token sale have been completed featuring BNB and ETH offerings. Despite the rousing success, the community feedback also included concerns that demanded the team’s attention. Jax.Network has responded to the queries with a complete set of appropriate solutions to allay the fears of the community members.

The latest token sale process overhaul aims to resolve all the queries and clarify more issues about the ongoing sale. While most issues are closer to resolution, the others are being handled with utmost enthusiasm by the Jax.Network team.

Primarily, the team faced multiple queries, the most prominent among these were as follows.

Why does Jax.Network use Bounce instead of PancakeSwap or Uniswap?

Perhaps, the most important reason to choose Bounce was its support for fixed-price swaps. Jax.Network has always supported USD prices since its early tokenomics days, and Bounce seemed the perfect choice due to the fixed-price token sale feature.

The tokenomics pricing is fixed, but the sale page displays varying values?

Since ETH gas prices are rising, there was a subsequent rise in USDT swap charges on Bounce as well. Therefore, ETH swaps were the logical choice in such a scenario. Token pricing underwent further volatile price action due to the rise in ETH prices in the recent past. Therefore, it is not possible to maintain fixed-price swaps and soon the Jax.Network token sale would shift towards a variable pricing mechanism.

The total funding amount stands at $16 million including crucial applications and infrastructure. Therefore, token burning is crucial for Jax.Network to maintain $16 million worth of token value at any given time. Token burning ceremonies will be held after a few months to maintain equilibrium in the token availability.

Jax.Network will ensure that weekly token burning is limited to 500,000 tokens. Also, the number of tokens in OpEx wallet will not go below 5 million prior to the mainnet launch. Currently, the fair value of the coin stands at $3.65. Jax.Network mentions that there will be a token burning event one week before the mainnet goes live where a maximum of 11 million tokens can be burnt besides any extra tokens present in the team wallet.

Furthermore, the Jax.Network team has announced that 25 percent of the total token supply will be reserved for long-term growth initiatives. Token burning will be carried out as per the average price of the last 39 days.

What about the token liquidity pool?

The liquidity of the tokens is another concern that is concerning the community members. The community members will trade in 2 million tokens that will be part of the Uniswap and PancakeSwap liquidity pool. Initially, the price of the WJXN will be $0.97, but that will change as soon as the token goes live on various DEXs where the market forces will govern it.

The locked tokens statistics were not entirely clear as the community understood the private sale rounds data. Thus, the Jax.Network decided to go for a token distribution ceremony that will feature the release of every locked token to the relative holder of the wallet. Unicrypt terms and conditions will govern the token locking mechanisms. There will be a two-year lock period for the tokens of the team members. There shall be no change in the advisor’s tokens.

These are the updates released by the Jax.Network team to clear the community’s doubts. In conclusion, the community members can be assured that the token sale is now being moved to Uniswap and PancakeSwap instead of Bounce. The variable pricing model will replace the fixed-swap pricing concept.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

Crypto Adoption: Nigeria’s Central Bank To Start Digital Currency Pilot Program | CryptoGazette

Most Of World’s Top Banks Invest In Crypto, Latest Reports Say | CryptoGazette

DOGE price jumps 16% as bulls target $0.40

DOGE price jumps 16% as bulls target $0.40