For further security, the financials of Jibrel are reviewed as well as audited by PwC, its financial transparency partner. In the examples above, we examined what happens with volatility in Jibrel Network Token. But safeguards need to also be put in place to protect against volatility in the crypto and traditional economies. A tethered token cannot be backed by ETH or BTC, as they are too volatile. If Jibrel were to issue tethered tokens and hold ETH or BTC, it would be susceptible to market / credit risks.
- With our first public token release scheduled for September 25th, we thought it was important to update the community on the progress to date, as well as the overall direction of the network.
- In Q4, it will launch the Jibrel DAO and the network will begin its full decentralization, known as Project Pinocchio.
- In Q3, it will deploy an institutional-grade solution that banks and other types of financial institutions can use to directly tokenize then transact using their off-chain assets.
It also allows for transactions involving value exchanges of securitized off-chain assets. CryDRs, or CryptoDepository Receipts, are an important part of the Jibrel Network. These tokens represent a traditional financial asset’s value but have the denomination of a https://cryptolisting.org/, JNT. Jibrel completed an Angel Round through a “Simple Agreement for Future Tokens”. The remaining tokens will be sold during full network launch on November 27th at a price of US$0.25. A dedicated token is needed to power Jibrel in order to establish equilibrium / duality in the system.
Jibrel Project Update: Q2 2020
In addition, certain standards have not been defined for Ethereum / ERC20, so the team built out the necessary components and standards and submitted them on relevant Ethereum Improvement Proposals (EIPs). In parallel to back-end development, the front-end team has been busy refreshing all the Jibrel’s look and feel, as well as developing the Jwallet. We demonstrated how the treasury bill could be held by a specific set of users, and could only be sold by a subsect of those users. With our first public token release scheduled for September 25th, we thought it was important to update the community on the progress to date, as well as the overall direction of the network. JNT is currently available on a handful of smaller exchanges – BiBox, HitBTC, Gate.io, Coinrail and IDEX.
In order to maintain solvency at all times, the Jibrel DAO / Jibrel Fund must maintain a one-to-one ratio with regard to value and correlation. Jibrel Network Token is the virtual exchange currency of Jibrel and the currency used to interact with the Jibrel DAO. Users will be able to purchase jUSD, jEUR, jGBP, jAED, jRUB and jCNY tokens.
After providing liquidity on Uniswap, users can lock their SLICE-LP(from Uniswap) tokens on Tranche to earn additional SLICE rewards. SLICE tokens that are used for rewards are not minted by inflation, rather, they are bought from any fees generated by the Tranche Protocol. Additionally, users can simply stake SLICE directly through Tranche . In line with our continuous efforts to move towards decentralized governance for token holders, jibrel network token (JNT) will be replaced by Tranche Token (SLICE). The main function of the Jibrel Network Token is purchasing and redeeming CryDRs.
Token Sales
Jibrel Network is the first protocol to allow anyone to put traditional assets like currencies, bonds, and other financial instruments on the blockchain in a form of Crypto Depository Receipts (CryDRs). The Jibrel Network gives users traditional financial assets in addition to standard ERC-20 tokens along the Ethereum blockchain. The traditional assets include currencies, securities, commodities, and bonds.
SLICE token holders can start providing liquidity for the token pairs that will be available on Uniswap, namely SLICE-ETH and SLICE-DAI . By providing liquidity, token holders received Liquidity Provider (LP) tokens that automatically receive a portion of the rewards generated by the pool’s trading fees. Moving forward, a TRIP can be offered to add to additional AMM/DEXes. In Q1 of 2018, the Jibrel Network releases its dedicated CryDR block explorer that will allow users to track CryDRs in more detail on the network.
The CoinCodex Cryptocurrency Price Tracker
In Q3, it will deploy an institutional-grade solution that banks and other types of financial institutions can use to directly tokenize then transact using their off-chain assets. In Q4, it will launch the Jibrel DAO and the network will begin its full decentralization, known as Project Pinocchio. Jibrel is engaged with New Alchemy for Security Audits and PwC for financial audits. In addition, we have formed a strategic agreement with Arabian Chain to bring smart regulation to MENA markets, as well as TaaS fund to provide smart tokens (CryDRs). This beta contained the necessary architecture to provide upgradable smart contracts. So that smart regulation could be updated as well as provide forward compatibility (e.g. ERC223 token standard).
Does the Jibrel Network Mitigate Cryptocurrency Volatility?
To learn more about the Tranche ecosystem governance and tokenomics, read the docs.
We expect to launch these shortly after the close of the Jibrel Network Token (JNT) pre-sale. The Jibrel team completed this as part of the Jwallet, created an easy to use plug-in, and released it under an MIT Open License. Most wallets have to make the decision to either sacrifice security or usability.
Qubist Labs Inc. is a New York-based company focused on blockchain development. The team behind Jibrel Network has experience with financial services, smart contract development, and blockchain development. Jibrel AG is a registered entity in Zug, Switzerland and is responsible for the development of the network. Jibrel team has undertaken the necessary legal and compliance measures to ensure a fully compliant token sale.
The Limited Alpha version of the network went live on Ropsten in May 2017. In September of that year, it had the presale for the Jibrel Network Token. November 2017 saw the release of the jWallet with an open-source license, the public sale, and the launch of jCash. To keep users safe, all the Jibrel Smart Contracts were audited by New Alchemy, its security partner.