Jibrel team has undertaken the necessary legal and compliance measures to ensure a fully compliant token sale. The Jibrel Network chose to create a dedicated token like JNT instead of relying on ETH or BTC because of their extreme volatility. It would have been too challenging to keep fiat currency liabilities while holding the uncorrelated and volatile crypto-assets. By https://cryptolisting.org/blog/difference-between-debenture-and-loan creating JNT, by contrast, there is a closed system that can self-balance. In the event that the underlying value of the asset deviates, or the JNT pledge becomes insufficient, the Partner is required to provide additional JNT. The user sends 1 BTC (valued at US$ 11,000 at the time) into the smart contract, and receives one US$ 10,000 CryptoDepository Receipt token.

  • Each of these networks implements smart contracts through their own « in-house » tokens.
  • You are able to use it to create an address to send or receive JNT tokens.
  • Ethereum introduced the concept, but now a host of other blockchain networks employ them, including Cardano, NEO, TRON, Qtum, among many others.
  • For example, by holding USD, Jibrel can represent numerous currencies on-chain, which are pegged to the US Dollar in the real-world.

They can be used for trading, hedging, global payments, and remittances. You can also use them to create decentralized and automated financial instruments, such as securities, commodities, bonds, and debt instruments. The Jibrel Network is an initiative from Jibrel AG and Qubist Labs Inc. Qubist Labs Inc. is a New York-based company focused on blockchain development.

Debt Instruments, Securitized / Collateralized Instruments

In addition, Jibrel will provide developers with a complete platform to develop tools and applications for transactions, investments and hedges, by leveraging traditional tokens backed by assets. Much has been made of all the ways blockchain and cryptocurrencies can potentially displace existing infrastructure. For all the ways it can’t—and there are many—Jibrel is leading the way in integrating the cutting edge technology with traditional assets, laying the foundation for blockchain implementations on a global scale.

To implement this system, we need to create accessibility pools for Network Users, Partners and the Jibrel DAO. For this reason, JNT transfers will be unrestricted on February 1st, 2018–12PM GMT, as the network moves towards its first operational pilot. Further details on the partnership and specifics of the pilot program will be released in the coming weeks. During this period, while the Pledge value is insufficient, the user can exercise the contract at any time, receiving the full value back (including the premium). These are individuals or other entities that aim Jibrel to hedge against volatility by obtaining stable tokens.

  • « All transfers on jCash are always AML KYC compliant, »Barghuthi said.
  • These are licensed financial entities that aim to use Jibrel technology to deliver cost efficiencies and generate an on-chain transactional profit.
  • In parallel to back-end development, the front-end team has been busy refreshing all the Jibrel’s look and feel, as well as developing the Jwallet.
  • We’ve created a quick guide on adding your JNT balance into the most popular Ethereum Wallets available.
  • Additionally, users can simply stake SLICE directly through Tranche .

We recently announced that we will be running a pilot program with relevant governmental, regulatory and commercial bodies in the MENA region. To start, Jibrel DAO will hold Proof of Solvency on-chain, as well as the underlying value off-chain. In the example, the Partner is creating a US$ 10,000 ‘crypto-bond’, with 30 day maturity, and charging a 10% premium for this ‘Forward Contract’. This contract is subsequently purchased by a user on the network, using BTC / ETH. Three provided by Jibrel Strategic Partners, and three provided by the Jibrel Network infrastructure / Jibrel DAO. If you are still holding JNT on HitBTC or Bibox(or any other centralized exchange), please move your tokens out of these exchanges and move them to Bittrex, Gate or your personal ETH wallet.

CryptoDepository Receipts (CryDRs)

It can be used for remittances, global payments, operations and coverage. CryDRs can also be used to create automated and decentralized financial instruments, such as bonds, commodities, debt instruments and securities. Jibrel Network provides currencies, equities, commodities and other financial assets and money instruments as standard ERC-20 tokens on the Ethereum blockchain. In the medium to long-term, Jibrel will focus on tokenizing debt instruments and their derivatives, thereby streamlining large portions of retail investment and investment banking operations.

Stake SLICE or SLICE-LP tokens to provide liquidity for the Tranche protocol

You can use the Jibrel DAO, the Jibrel Decentral Bank, to exchange volatile cryptocurrencies, such as BTC or ETH, for stable tokens, such as the various jCash. At any time in the future, you can exchange the stable jCash tokens for their underlying value, no matter the price of BTC or ETH at that time. This will be especially appealing for those who see the writing on the wall in terms of regulation in crypto markets. « Does the user need to know that he’s holding an Ethereum wallet, that these are stored in tokens? » Barghuthi said. These CryDRs feature built-in smart regulation, which is a set of real-world regulations and rules written in solidity code then deployed using the Ethereum blockchain.

Using Etherscan to read the JNT contract and check your balance

While the Jwallet should detect your JNT automatically, the tokens will need to be added to MyEtherWallet, imToken, MetaMask or Eidoo to be recognized. No part of the content we provide constitutes financial advice on coin prices, legal advice, or any other form of advice meant for you to rely on for any purpose. Any use or reliance on our content is solely at your own risk and discretion.

This beta contained the necessary architecture to provide upgradable smart contracts. So that smart regulation could be updated as well as provide forward compatibility (e.g. ERC223 token standard). With intelligent regulation, CryDRs have built-in rules, taken from the real world and translated into the code of strength and displayed in the ethereum blockchain. Making sure that, although decentralized, CryDRs always follow the rules and regulations of the real world.

An investor can tokenize financial assets by transferring liquid assets to the Jibrel AG Fund located in Zug, Switzerland, where they are held. Illiquid assets receive their securitization via JNT for the underlying currency. Any transaction that involves that tokenized asset in question will then be done using JNT. Because the tokenized assets are a type of standard ERC-20 token, users can rely on any ERC-20 wallet to send, receive, and exchange their CryDRs.

By providing liquidity, token holders received Liquidity Provider (LP) tokens that automatically receive a portion of the rewards generated by the pool’s trading fees. Moving forward, a TRIP can be offered to add to additional AMM/DEXes. Jibrel AG is a registered entity in Zug, Switzerland and is responsible for the development of the network.

These are licensed financial entities that aim to use Jibrel technology to deliver cost efficiencies and generate an on-chain transactional profit. Swap tokens across various L1 and L2 networks seamlessly and manage your web3 everything, all in one place. The Jibrel team completed this as part of the Jwallet, created an easy to use plug-in, and released it under an MIT Open License.