Ecosystem Tokens, functions and uses within the JamonSwap app. JAMON, J-SHARE, JUSD, JFLU and JSTLP are the ecosystem tokens of our DEX.
JamonSwap wants to position itself as the benchmark among the decentralized exchanges on the Polygon network – one of the networks with the highest growth expectations as a second layer network of Etherum, it is already a fact that many of the most recognized projects are using the network for its security, speed and low cost.
In this article we are going to review the different tokens of the JamonSwap ecosystem as well as the utilities of each one..
$JAMON, the native token of JamonSwap
First of all we have $JAMON, the native token of the exchange. It is used within the platform for all the services offered (Launchpad, lotteries, stablecoin mining, etc.). It is also used to reward liquidity providers, with the particularity that they are only offered as a reward through bonuses.
Bonds as a solution to inflation
The bonuses allow you to multiply the amount contributed in dollars, for the pairs that are offered; for up to 1.8 times, receiving that amount in $JAMON. These bonds limit the issuance of $JAMON to 50 million per year. Setting that figure as a goal to burn through the different functions and services offered by the app.
The liquidity collected through the bonuses becomes the property of the exchange itself, unlike in farms where the liquidity provider can withdraw it at any time.
Bonds are a solution to increase the strength of the $JAMON token since the liquidity of the token itself increases. And they offer the user the possibility of receiving a reward fixed in the $JAMON token that frees him from the impermanent loss calculations and concerns; since there is only one variable which is the price of $JAMON in the medium or long term. You will receive your reward in $JAMON during the 12 consecutive months of your liquidity contribution in the bonuses.
JAMON STLP – $JSTLP
Jamon STLP, the Jamon Stake LP token serves as a substitute for $JAMON to offer rewards to farm liquidity providers.
In JamonSwap there are also farms just like you can find in any other DEX, these offer considerably attractive APRs, around 100%.
The difference is that with these farms, JamonSwap’s deflationary philosophy for its native token is not compromised; since they deliver a token that not only serves to reward but has characteristics that also make them attractive to stake.
The JSTLP is the token that through staking distributes a large part of the profits generated by dapps and some DEX functions; as well as the 0.1% fee for each $JAMON token transaction.
The main sources of income at this time are or will be the following:
- 25% of profits generated by JAMON casino.
- 25% of benefits generated by the JAMON lottery.
- 25% of D-Social application.
- 25% fee of 3% of the JamonSwap LaunchPad.
- 25% of JamonSwap VIP NFTs sales and future collections.
All these profits are sent in the form of J-SHARE to the JSTLP stake.
- 0.1% fee of $JAMON token transactions, is sent in $JAMON to the stake.
$J-SHARE, the JamonSwap governance tokens
J-SHARE is the governance token of the exchange. It is the token with which the members of the community can vote on the decisions and strategies to be adopted. From the amount of bonds to be issued for each pair, to token listings and distribution or use of liquidity and treasury of the DEX.
J-SHARE is also a deflationary token since only 8,500,000 tokens were initially issued and more will never be minted again. In addition, J-SHARE has a fee for tx of 0.5%, which will reduce the total supply in the long term.
J-SHARE, in addition to serving as a governance token, also has its own staking vault; where rewards are distributed to those who stake it. J-SHARE staking vault recieves the fees generated by the swap, 0.1% of the liquidity fee of the farms and 0.3% of the liquidity of the bonds.
The stablecoin of the ecosystem, $JUSD
JUSD is the stablecoin of the JamonSwap ecosystem. It uses an over-guarantee system where, through a second token (J-Fluid, $JFLU) and with $JAMON as collateral, a backup in dollars equal to $1 per JUSD in circulation is maintained.
JUSD will have mulitple utility within the platform, and at this time we can name the following:
- Whenever the issuance of new liquidity bonds is opened, there would be a JUSD/USDC or MATIC pair available, each year.
- JUSD will be the token to be used in the JAMON casino, since its price is always backed by $1 in $JAMON; It will be the token that is accepted to buy chips in the casino.
- JUSD will also be the token used to receive collateralized loans in other currencies as well as to purchase assets in liquidation.
- The uses of the stable coin are infinite and with each development that needs a stablecoin we will see JUSD as a utility token.
JFluid one of the tokens to consider in JamonSwap, $JFLU
JFluid is one of the great unknowns within JamonSwap. JAMON Fluid is a derivative of $JAMON; something like a leveraged token, since it takes care of absorbing the price changes of $JAMON in order to always maintain the backing in $JAMON tokens necessary to maintain $1 in $JAMON for each JUSD in circulation.
It is the most speculative token, since if $JAMON goes up in price in dollars it goes up much more and if it goes down, it goes down much more.