JPEX Is Launching its own token called JPC

What happened on JPEX?   

After years of operating as one of the most successful centralized cryptocurrency exchanges (CEXs) in the decentralized finance space, JPEX is finally launching its native asset, called JPC. This is a digital asset that will be contributing to the overall ecosystem of the JPEX platform. 

When will JPC be launched? 

JPC will be launched on the JPEX platform on Monday, August 8, 2022, at 20:00 (GMT+8 Hours). The coin will be made available for trading on JPEX.  

Why is the launch of JPC important? 

JPEX will now be operating in full flight. The exchange will be competing fair and square with centralized exchanges and decentralized exchanges (DEXs) not only in the number of users and daily trading volume, but the development and success of their respective digital currencies. 

It is known across several crypto news and forecasting portals that some of the best-centralized exchange tokens include Binance Coin (BNB), FTX Token (FTT), Kucoin Token (KCS), Huobi Token (HT), and OKB from the rebranded OKX exchange. 

Aside from tokens from CEXs, JPC will be locking horns with the novel token behind the Uniswap ecosystem, UNI, PancakeSwap (CAKE), and SushiSwap (SUSHI) among others.

As of Thursday, July 21, centralized exchange market capitalization was approximately $57.84 billion. The CEXs record a combined volume of at least $1 billion daily. On the same day, decentralized exchange market capitalization was around $14.22 billion, and DEXs also see a minimum of $1 billion as daily volume, per data from CoinMarketCap.

With millions of users around the world and more than 100 cryptocurrencies on its platform, the launch of JPC will add more liquidity to the overall volume of crypto trading platforms. 

Aside from this, JPC would be contributing to the improved market capitalization of tokens backed by exchanges across the globe.

How Can JPC Improve the Crypto Finance Industry? 

Non-Fungible Token

Due to the advancement in technology and the increasing growth of Web3, the Metaverse, and non-fungible tokens (NFTs), crypto trading platforms continue to re-strategize to remain relevant in this saturated market. 

In the last 12 months, Coinbase and Crypto.com have launched NFT marketplaces. NFTs have become a billion-dollar industry that has generated close to $40 billion in sales, per data from CryptoSlam. 

Due to its profitability, retail video-game store GameStop launched an NFT platform in July to gain a share of the revenue from digital collectibles. At its peak in January 2022, NFT marketplaces generated about $16 billion, per data from the Block. 

As one of the most vibrant technologies today, JPEX could join the NFT space, and this could see the use of JPC as the primary digital currency that will oversee transactions in the marketplace.

Mainstream Adoption 

Many cryptocurrencies have been adopted by millions of merchants worldwide. JPC could disrupt the industry by being accepted as a transactional currency in the mainstream since it has all the essential attributes of money (utility, transferability, non-counterfeitability, durability, scarcity, and divisibility).

Decentralized Finance 

DeFi is known for providing above-average returns for users. JPEX currently has three ways of earning. The first type is earning through Savings using mainstream cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), ApeCoin (APE), Cardano (ADA), and the stablecoin Tether (USDT) among others. The second type is investing in DeFi tokens such as SUSHI, Yearn Finance (YFI), Curve (CRV), AAVE, Chainlink (LINK), Compound (COMP), and Mdex (MDX). Lastly, users can earn rewards by providing swap liquidity. The minimum yield is 10% and the maximum is 235%.

As the exchange’s main token, JPC could be bringing huge rewards to users interested in locking some of the tokens away for consistent passive income. 

Who Can Own JPC? 

Once the digital currency is launched on August 8, users of JPEX can have access to the token. 

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