JPC Buy Back and Burn Announcement 20230101

Dear JPEX Users, 

We are pleased to announce that the total proceeds of profits made from transaction fees on the JPEX Crypto Trading platform will be used to repurchase JPC, the native asset of the JPEX ecosystem. 

The total number of repurchased JPCs will be destroyed. The destruction mechanism will commence on January 1, 2023. 

Token burning is the process of permanently removing a cryptocurrency from circulation, thereby reducing the total supply.

JPEX will use proceeds of transaction fees from the opening quarter of the year (January to March) through to the end of the second month of the last quarter (November).

Below is a breakdown of the repurchasing and token-destroying process. 

Date: January 1, 2023, 00:00 UTC.  

Total repurchased JPC approximately: 35,882,232 JPC

Total used amount (USDT): 184,291

Destroyed Transaction ID (TXID): 0x2c05a718f605aa4563e9b577fc16b3515b6a9bd75c81c8b1e064c5df37ebba7d

The JPC destruction mechanism will effectively enhance the value of the token since the activity triggers one of the major attributes of cryptocurrency which is scarcity. With JPC becoming a deflationary token, renewed interest in the token will be reflected positively in the entire JPEX ecosystem. 

Thank you for your support!

JPEX Operations Department

01-01-2023

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