The Good Tech Companies - Defining the Bitcoin DeFi Future: Jade98 Platform's Transparent Tokenomics

Episode Date: May 14, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/defining-the-bitcoin-defi-future-jade98-platforms-transparent-tokenomics. The Jade88 Platform sits at the intersection of AR, VR, and Ordinals on Bitcoin. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #bitcoin, #ordinals, #jade88, #ar, #vr, #tokenomics, #digital-assets, #good-company, and more. This story was written by: @jade98. Learn more about this writer by checking @jade98's about page, and for more stories, please visit hackernoon.com.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Defining the Bitcoin DeFi Future. Jade 98 Platforms Transparent Tokenomics. By Jade A.R. Dynals. Hash Hash Ordinals. The Origin Ordinals became a significant game-changer in the NFT segment in 2023. Since their introduction to the Bitcoin blockchain, the daily inscriptions have shown a consistent increase. As of now, there have been a total of 66,348,042 inscriptions. Source. Dune Ordinals introduced an innovative approach to creating NFTs, meme tokens, and other digital assets on the Bitcoin blockchain.

However, it caused lots of discussions within the community. Ordinals utilize inscriptions to store content directly on the blockchain, leading to skepticism among many users about its overall benefit to the ecosystem. Concerns were raised that the block space occupied by these NFTs could potentially increase fees and reduce transaction speeds. Over time, it became clear that ordinals have become a crucial component of the Bitcoin blockchain, laying the foundation for their integration in toe-decentralized exchanges, lending protocols, and yield farming platforms. Michael Saylor, the founder of MicroStrategy, stated, Bitcoin NFT technology has the potential to foster innovation in the digital asset market.

He also mentioned that the creation of applications and further development of the blockchain would accelerate its mass adoption. As observed, the number of application inscriptions grew significantly in 2024. Source. Dune taking that into account, it was only a matter of time before Ordinals and Immersive Augmented Reality, AR, merged. The Jade 98 platform introduces the first-ever AR, VR inscriptions, Jade AR Dynals, set to redefine the standards of digital collectibles. It was created to enhance efficiency, transparency, and unique user engagement in the DeFi segment. With the Jade 98 platform, you can not only upgrade your existing BRC collections but also craft Arduino collections right from scratch. Let's explore the groundbreaking Jade 98 platform, which allows its users to create

Jade AR Dynals and earn rewards for their activity. About JD98 token. To understand the whole Jade 98 platform ecosystem, it's important to learn the main functionality of its basic element. The JD98 token is the cornerstone of the entire ecosystem. It facilitates payments for core functionalities, such as using AR technologies, on the platform. Creators also receive staking rewards in $JD98 tokens. Its primary utility is to support commissions and transactions throughout the platform, serving as its vital lifeblood. EPIC-based calculation system, enhancing control and simplicity. At the heart of the Jade 98 platform lies the concept of EPIC's fixed intervals of time 1,999,998 seconds. At the end of each EPIC, significant events occur,

such as stakers receiving their JD98 rewards or the burning of the revenue treasury. Check out the detailed scheme of the platform below. These are the main tokenomics processes that maintain the functionality and financial payback of the system. Unlike the tokenomics of many other DeFi platforms, all processes on the JD98 platform are fully transparent, with no hidden pitfalls. Now, let's review each of these processes individually. Platform Service Revenue Monetizing AR services central to Jade's platform revenue model is the provision of augmented reality, AR, services. You have the freedom to craft an exciting Arduino collection from scratch,

complete with all metadata. Overall, you get the full package, create your AR, mint it on the blockchain, and showcase your unique digital masterpiece. For these innovative opportunities, users pay a service fee in BTC upon initiating the mint transactions, similar to Luminex, Unisat inscription service. This revenue is collected in the platform's treasury for subsequent distribution through various mechanisms. Rewards pool for stakers, buyback and burning mechanism, and other processes that ensure sustained growth and profitability of the Jade 98 platform. Buyback and burning mechanism

Another important feature of the Jade 98 platform is the buyback and burning mechanism, wherein 20% of incoming revenue is allocated towards purchasing $JD98 tokens from the market. The process is depicted in detail in the upper part of the whole Jade 98 platform, of incoming revenue is allocated towards purchasing $JD98 tokens from the market. The process is depicted in detail in the upper part of the whole JADE98 platform to Konomics scheme. As you can see, the service revenue users pay for AR Dynals creation, which ISTHEN converted to JD98 for further burning and then accumulated in the burning treasury to be systematically burned at the end of each epoch. The system sends them a bitcoin eater address, thereby enhancing the token value. Staking. Empowering token holders stakers on the platform can enjoy multiple avenues for staking, enabling them to extract tokens from

circulation and lock them within the platform in exchange for a share of profits generated during the epoch. As you can see from another part of the tokenomics scheme, there are several ways of staking available. Single-asset staking, JD98 token. In this case, you'll receive your rewards at the end of the epic. Multi-asset staking, JD98 plus ARDINALS. For the jade pair staking, you'll need to get an Ardinal from Jade AR Dynals collection. This will increase your rewards by staking a special Jade AR Dynal with JD98 dollars. The payment amounts and, accordingly, the APY indicator are affected by number of stacked dollar JD98. Type of staking you chose. Rarity of staked AR Dynals. Number of days in the epoch your assets were staked.

Number of epochs before this position was already staked. Number of days in the epoch your assets were staked. Number of epochs before this position was already staked. Number of referrals a user has and how much they have staked. Initially, simple staking will be developed and launched using a simplified formula. Over time, it will be enhanced by refining the formula and adding additional assets for boosting. Staking rewards distribution. Ensuring fairness and efficiency at the end of each epoch. Rewards from the previous epoch are calculated and dispersed from the reward pool in $JD98 tokens. Thus, new rewards are sent to users every three to five weeks. Regular revenues enable you to redistribute your income correctly and reinvest a portion for additional earnings.

Users have the option to receive payouts directly to their addresses or initiate transactions to claim their rewards, with the latter option to minimize transaction fees. Additionally, accrued rewards incur compound interest if left unclaimed. Conclusion Add Jade 98 platform. We strive to develop an effective and transparent tokenomics system that will not only enhance AR, VR functionality but also contribute to our user success and increase their income. The groundbreaking integration of AR services with Ordinals will boost the incorporation of the Bitcoin blockchain into the DeFi sector and its mass adoption worldwide. This represents a perfect new direction for immersive, real-world applications to develop and a powerful means to foster a sustainable

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