JADE is a free-floating currency backed by our treasury supply of the stablecoin BUSD. JADE tokens can’t be minted or burned by anyone except the protocol. The protocol only does so in response to price. Each JADE is backed by at at least 1 BUSD. If JADE ever trades below 1 BUSD, the protocol buys back and burns JADE, pushing the price back up to 1 BUSD. There is no upper limit imposed by the protocol to the potential trading price of JADE.
JADE is backed by BUSD, not pegged to it. This allows the JADE token to achieve a stable floating value, while never falling below the value of its backed assets. The token price is designed to equal (1 BUSD + premium), with "premium" reflecting market value.
JADE also expands its treasury through bonds. Bonds are sold by the protocol for different assets, and in return the buyer receives JADE at a significantly discounted price. This increases the treasury and enables the protocol to produce optimal yields for users.
Jade Protocol's optimizations include:
Jade Protocol is the inaugural launch of the Fair Fork Foundation, a collective dedicated to the democratization and ROI optimization of famous DeFi protocols.
The Fair Fork Foundation consists of a team of developers who launched the SmartCoin project prior to forming as the Fair Fork Foundation. The team and advisor group have voted to remain anonymous to the public. However, their project founder has privately verified their full identity with RugDoc, who rated SmartCoin, their previous project, as Low Risk.
Since its intention is to be a free-floating currency, the total supply of JADE is uncapped. Currently, over 121,000 JADE are staked with the network.
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