Jade Citypioneer of jade gemstone tokenization, today announced the MVP launch of its platform, which will allow users to earn, trade and speculate on tokenized Jade.
Jade City is a blockchain-powered platform that will issue jade-backed bonds that will earn a high yield in physical jade symbolized – up to 24%/year. Profits generated will be returned to $JCT token holders via a “buy and burn” mechanism. The tokenized jade earned can then be sold or used to play for the chance to win valuable jade stones in the platform’s gamified jade loot boxes.
Jade City is being built as an EVM compatible dApp. Development of the Jade City platform itself was led by CTO David Atkinson, who joined the company last November. Atkinson, co-founder of Holochain, Holo, Rain and Gild Labs, is a brilliant technology innovator specializing in developing and building complex ecosystems and crypto-economies, has designed over 60 currencies and advised numerous startups on tokenomics and transparent technology. solutions.
William Ralston-Saul, CEO of Jade City, said: “The team has been focused on building the Jade City platform and launching the Jade City token ($JCT). In ten months, Jade City has gone from a broad concept to a working platform and the MVP is now live. We are now inviting users to use the Jade City platform testnet, which is essential as it will allow users to become familiar with the platform before using real funds. This will also allow the team to monitor. how the platform works, locate bugs and make improvements.
The Jade City team partnered with the owners of the world’s largest jade mine to secure one of the world’s largest jade stocks and, over the past two years, funded the mine to get started production. Jade City has been granted access to millions of kilograms of this new, ethically sourced jade, ready to be shipped and sold.
The launch of MVP comes just weeks after the first shipment of jade from its mining partner to its storage facilities located in China’s Guangdong province, a province famous for its jade manufacturing and home to several of the largest jade trading centers from China. Shipping jade from mine to market is a key step for the Jade City platform to start generating profits from jade sales.
The Jade City platform was designed by leading blockchain experts to generate sustainable value for token holders over an extended period of time. Currently, the estimated value of China’s jade market is $50 billion per year, a tenfold increase since the turn of the century, even surpassing the size of the diamond market. However, for much of its history, the lucrative jade value chain was accessible to a few, plagued by black market activity, poor mining practices and political problems. Jade City is uniquely positioned to democratize global access to the jade value chain, using blockchain to provide accessibility, transparency and trust to one of the world’s largest gemstone exchanges.
To learn more, please visit https://www.jadecity.io.
About Jade City
Jade City is a blockchain-based RWA platform specifically designed to democratize the jade value chain through DeFi and tokenization, allowing users to earn, trade, and speculate on tokenized jade. Jade City’s economy will be financed by issuing jade-backed bonds in exchange for US dollars. Bondholders will earn tokenized jade at high interest rates of up to 24% each year. The tokenized jade earned can then be sold or used to play for the chance to win valuable jade stones in gamified jade loot boxes. Jade City is co-founded by the owners of the world’s largest jade reserve. For more information, please visit https://www.jadecity.io.
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