Jade Protocol — a decentralized reserve currency platform on the Binance Smart Chain. Unlike DAI or USDC, which are pegged to the value of the US dollar, JADE reserves are crypto assets, held by the Jade Protocol treasury.
Description of the Jade Protocol project
It is a freely floating currency, backed by the Treasury Stock of the BUSD stablecoin. JADE tokens cannot be mined or burned by anyone other than the protocol. The protocol only does this in response to price. Each JADE is backed by at least 1 BUSD. If JADE ever trades below 1 BUSD, the protocol buys and burns JADE, pushing the price back down to 1 BUSD. The protocol does not set an upper limit on the potential trade price of JADE.
Other features:
| 1 | JADE is supported by BUSD, not tied to it. |
| 2 | This allows the JADE token to achieve a stable floating value without ever dropping below the value of its backed assets. |
| 3 | The token price must be (1 BUSD + Premium), where the "premium" reflects the market value. |
JadeProtocol is also expanding its treasury with bonds. The bonds are sold under the protocol for different assets, and, in return, buyer receives JADE at a significantly reduced price. This increases the treasury and allows us to generate incredible profits for our users. Part of the Fair Launch Foundation, JadeProtocol is an optimized fork of OlympusDAO for a fair launch. However, there are several key operational differences, designed to offer a better investment strategy for the community.
The project will be available on the Binance Smart Chain. A typical transaction on the Ethereum mainnet can cost up to $ 200. However, a typical BSC transaction costs around 50 cents. This allows the Treasury to accrue automatically at much more frequent intervals, significantly increasing the potential APY percentage over the mainstream. Jade Protocol uses a different commission return rate. 10% of the treasury will help to buy and burn tokens.
More about the protocol on Binance
Stakers post their JADEs on the JadeProtocol website to receive relocation rewards. Relocation rewards come from proceeds from bond sales and may vary, depending on the amount of JADE, placed on the minutes, and the rate of remuneration, set by monetary policy.
You can get more information about the project through the introductory document. There is a RoadMap with future updates. From social networks, the community leads:
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