Cryptocurrency investments are subject to high market risks, please read all related documents carefully before investing.
Jax.Money is a DeFi dApp with its primary stablecoin being JAX token and it is represented by WJAX on other networks. Any other localised stablecoins minted on Jax.Money is a sole-action of the user as per their preferences. Jax.Money is supervised by an elected governor who is a function of Jax.Money. Any token represented by Jax.Money is not an official currency or representation of any official currency of any country and the same shall not be misinterpreted by the viewers.
Governor is responsible for the yield distribution mechanism setup under Jax.Money subject to changes based on market conditions. Liquidity pair whitelisting is an action of governor depending upon market requirements.
Yield accrual & payouts will vary from time to time, Jax.Money is not guaranteeing or assuring your Liquidity and it’s yield under any of the schemes and the same is subject to the availability and adequacy of distributable surplus.
Jax.Money shall not be liable for any loss or damage that may be caused directly or indirectly by your use of these contents. Investors are requested to review carefully, conduct their due diligence and obtain expert professional advice with regard to specific legal, tax and financial implications of the investment and participation on Jax.Money platform.
No communication or information provided to you by Jax.Money is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice.
For further information, please read and understand about Jax.Money on our website before using the services.
The governor is elected by a simple majority (51%) of VRP token holder votes.
Learn more: https://youtu.be/eDdVEpHEL0Q
VRP means Volatility Reserves Pool. They are issued when you stake WJXN-2. VRP token holders are entitled to VRP yield. The VRP token holders also elect the governor of Jax.Money.
VRP holders are at risk as they provide WJXN-2 to refill collateral during times of under collateralization and they are entitled to the surplus when there is overcollateralization.
The list of responsibilities goes as follow:
To set markup and transaction fees
To manage yield distribution
To whitelist currency pairs, bridges, and liquidity providers
To freeze deposits and withdrawals in the platform in the extreme case of an emergency shutdown
Yes, the governor also receives yield, which can’t be higher than 10% from the total amount of yield collected.
You can swap VRP back to WJXN-2 anytime, provided the collateral provisions denominated in WJXN-2 cover more than 100% of WJAX reserves. This collateralization ratio (currently 100%) can be modified by the governor.