The Decentralized JPC Chain Released

Dear JPEX users,

JPC has gained significant popularity since its inception, and the market continues to mature. JPEX will introduce the JP public blockchain – JP Chain, utilizing JPC as the native token to enable decentralized operations.

In collaboration with the development of the public blockchain, the project party and various stakeholders (JPEX Team, Development Funds, DAO Ecosystem Funds, Metaverse Funds, Charity Fund, Etc.) have unanimously agreed that JP Chain should operate in a decentralized manner using blockchain technology. They also concur that the market should manage JPC and the public blockchain.

To demonstrate their confidence in JPC’s support and development of the JP public chain, the project team and various stakeholders have agreed to keep their currency holding ratio no higher than the community’s market share. Consequently, they will burn 90% of the circulating JPC in their possession. This action aims to mitigate potential price fluctuations caused by other public blockchain projects during unlocking and align the stakeholders with the market’s overall direction.

The pertinent details regarding the token burn are as follows:

  • 1,480,000,000,000 JPC : 0x2e6eeccc682b3f2cf007ed6b3c7dee62c4f2917c1e168d5af5d1ddf78236adbc
  • 1,500,000,000,000 JPC: 0x9dcd4d175537199e952c93fcf8ecaec35a667307dc6767708b7aea5097fee6eb
  • 100,000,000,000 JPC: 0x1674e5087cf95fbbe45603e1c36fd6591602045e5de8276d3e1dcf432811d255
  • 1,019,996,661,984 JPC: 0x996fbb1e76cc2ffe8c01a671956e38fe4cdfeeae68446cd549c72228c0ce5e0e

JP Chain will employ the POS consensus mechanism, enabling users to become nodes on the public blockchain by staking a specified amount of JPC. The chain’s most prominent feature will be its robust scalability, as the network will expand horizontally without transaction throughput limitations. Furthermore, the chain will maintain low costs without compromising security and on-chain activity.

The public blockchain will utilize the Solidity programming language for smart contracts, payments, and NFT storage. Its straightforward usage enhances the security of data stored on the chain and facilitates developer adoption. Additionally, it is compatible with Ethereum smart contracts, permitting interchangeable usage.

JPC holders will stake JPC as a proof mechanism to contribute to the platform’s workload. Various JP Chain and platform operations, such as executing and storing transactions, can be paid for in JPC as gas fees. Holders can also participate in on-chain governance voting regarding protocol upgrades and other platform matters.

JP Chain will prioritize the development of decentralized wallets, exchanges, and applications, including games. Its ongoing commitment to enhancing the JPEX blockchain ecosystem will extend to gaming and offline financial markets, offering high-speed transactions and low fees to support these evolving industries.

A future DAO (Decentralized Autonomous Organization) will manage JPC tokens and JP Chain, returning project decision-making, power, and public chain revenue to the JPC community and market. This approach will actualize the public blockchain’s decentralization and align with the original vision of a decentralized blockchain proposed by Satoshi Nakamoto.

Upon adjusting the JPC project’s development focus and burning the JPC tokens, the circulating supply is 71,973,400,378 JPC and the circulating market capitalization of JPC will be approximately 2,519,069,013 USDT. In contrast, the total supply is 197,982,266,919 JPC and the total market capitalization of the JPC project will amount to approximately 6,929,379,342 USDT. Locked JPC tokens will be burned after they are unlocked in the future. If deemed necessary, the project team and various stakeholders may decide to burn the remaining JPC tokens to ensure the market’s healthy and sustainable growth.

The platform expresses gratitude to JPC stakeholders for their active engagement in realizing this proposal, allowing JPC to sustain its development. We also thank all teams for their unwavering confidence in the JPC project and invaluable contributions to its progress.

Thank you for your support!

July 7, 2023


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