ENTER THE DEFI ECOSYSTEM WITH JAX
Wrapped JAXNET unleashes the power of DeFi to JAX and JXN
WJAX, WJXN are BEP-20 tokens backed by JAX, JXN respectively at a 1:1 rate.
WHY DO WE NEED WJAXNET?
WJAX and WJXN become an entry point to the DeFi ecosystem for Jax.Network. They allow to add liquidity to decentralized exchanges (DEXs) and other financial applications, bringing utility to our blockchain and facilitating mass adoption.
Our tokens also allow you to earn yield for performing different actions. Whether it’s simple holding or providing liquidity to DEXs, you receive a reward for your effort.
It’s a platform that issues wrapped tokens for two native digital currencies of the Jax.Network blockchain.
Jax.Network is anchored to the BTC blockchain that follows the JaxNet protocol and issues two digital currencies (JAX and JXN).
The cryptocurrency created on top of Jax.Network shard chains is called JAX. Its value is always stable, as it's based on the cost of 1 unit of computing power. If you are interested in knowing more about JAX you can read our Academic paper.
JXN is issued on top of the beacon chain of the Jax.Network blockchain. It has a fixed reward per block and can be used for speculative purposes and as a store of value.
Each WJAX is backed by JAX at a 1:1 rate.
Each WJXN is backed by JXN at a 1:1 rate.
- To transact
- To protect your funds against inflation
- To stake
- To swap for localized stablecoins
- To earn yield
- To pay for the security of Jax.Network by incentivising Bitcoin miners to merge-mine Jax.Network
- To be used as gas fees for exchange agent listing transactions and other critical transactions
- To incentivise miners to defend the beacon chain that holds the shard registry
- To serve as a secondary savings account for the Bitcoin network
- To incentivise miners to defend the Bitcoin network when the BTC reward drops to 0
- To reflect the value of the transactional payments ecosystem of Jax.Network.
You can merge-mine JAX coins or buy them on one of the centralized exchanges. As soon as the MainNet is launched, we will start the listing process. Please, follow our official Telegram chat to stay aware of all our updates.