News from the JADE Coin Development team on August 1, 2022
Contract Swap 1:1
The Jade Currency (Jade) that you knew, no longer exist. The project will be rebranding and all current BSC investors will be airdropped 1:1 supply to the new contract on August 30th, 2022 at 10:00 UTC. The swap will only happen at Catex Exchange. So, make sure you deposit your Jade on time. After that, remaining tokens will be burned from the total supply or used for other allocations depending on the community vote. It is mostly likely all other exchanges will not support the swap.
Rebrand & Concept
Jade Currency will now formerly be known as Jade Currency Ventures. The Jade Currency Ventures project will be focused finding new companies or ideas that may or may not be cryptocurrency related but are technology related; are having trouble finding funding the traditional method; have plans to incorporate a cryptocurrency into their business structure; and are looking for funding amounts of less than $100,000. Raising money via Uniswap or Pancakeswap are viable options to raise funding because of the growth of the cryptocurrencies in the DeFi sector and the current regulations regarding these capitalistic markets. Our creator known as the, Fund Manager, has come up with a very unique business model for a venture capital firm. Below, the Fund Manager will detail how it works in DeFi;
Do a 1:1 contract swap and rebrand Jade Currency to Jade Currency Ventures
The fund manager will set up a 5% allocation of the token supply which he will use to fund the startup of the the venture (this allocation will be vested with monthly schedule, so each month there will be 1 business that is chosen to be added to the venture portfolio).
During the month, there will be some sort of competition or vote or analysis onto which company is chosen to be added to the portfolio.
Once a company is chosen, they will be vetted. They will need to show due diligence, such as verified team; business plan; strategy for cryptocurrency adoption; and resources to manage an online community.
After the company is confirmed, they must sign a contract with Jade Currency Ventures stating they will adopt their native token into their business structure.
We will fund the fair launch of their company native token in a DEX like Pancakeswap or Uniswap by creating the contract with their specifications and token allocations(They must have a vesting schedule to prevent dumps). The company will be marketed to over 14,000 investors of the Jade Currency Ventures project.
If the business is successful and they setup the necessary social media outlets and reported to the tracking websites, they will go on to list Catex Exchange for free where an additional 200,000 active investors will be exposed to the company.
With the new contract launched under the ventures name, the Fund Manager will get a 5% allocation here also, wheres 2.5% of it will go back to buying the native token of Jade Currency Ventures and 2.5% will remain with the Fund Manager.
The business shall raise a steady amount of onchain cash flow in their native cryptocurrency market from their team supply, thus supporting a developing venture.
In exchange to the investors of that venture business via DEX, their native token will be integrated into the business which could lead to endless possibilities.
Jade Currency Ventures Proposed Tokenomics
Total supply: 90,000,000
Ticker: JADE
Fund Manager: 4,500,000 (1 year vesting schedule)
Farm: 3,000,000 (1 year farming allocation)
Pancakeswap Liquidity: 5,500,000 (as of August 1st, could change as price changes)
Circulating: 77,000,000 (any token not swapped at August 30th, 2022 will be burned from total supply or used towards farming/staking allocation depending on community vote.)
1% buy/sell tax for marketing wallet: (there will be a person in charge of the marketing wallet and will need to budget it for listing, community efforts and other promotions)
Jade Currency Ventures Initial Roadmap
August 20th: Launch new Jade Currency Ventures website w/ full Roadmap
August 30th: 1:1 swap at Catex Exchange & trading opens
August 30th: Close Pancakeswap trading of old Jade Currency
September 10th: Open Pancakeswap trading of Jade Currency Ventures
September 15th: Open Jade Currency Ventures Farm at Catex Exchange
September 30th: Token burn or allocation vote by community
October 1st: First Venture competition will start
(Rest to be published on the release of the website)
Summary
We’re going to be the first community to focus on venture capital funding in the decentralized market with this unique business model. The model has no need for a development team, only the execution by the Fund Manager and the community efforts are what will determine if we succeed or not. Cost are limited to the Fund Manager and the benefits are mostly reaped by the investors and the companies in the venture portfolio. JADE to the moon.
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