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.