The Block • Sep 27, 23
Bitcoin’s correlation with equities continuing to diverge
The correlation between bitcoin and equities will continue to diverge over the coming months due to the Fed's continued monetary tightening.
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of Jade Protocol has risen by 97.95% in the past 7 days. The price increased by 3.60% in the last 24 hours. In just the past hour, the price grew by 0.00%. The current price is $18.68 per JADE. Jade Protocol is 97.26% below the all time high of $682.30.
The current circulating supply is 0 JADE.
is a decentralized platform that reserves on the Binance Smart Chain (BSC), a parallel chain that operates on the Binance exchange. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in on the blockchain. The Jade Protocol Treasury holds crypto assets as reserves.
According to , Jade Protocol is a of OlympusDAO. Like Jade Protocol, OlympusDAO is a decentralized reserve cryptocurrency platform. OlympusDAO is based on its primary (OHM); and a range of Olympus treasury assets backs each OHM token. The main difference that came after the forking lies in the transaction cost. A general transaction over BSC costs around 50 cents. This low transaction cost enables the treasury to compound more frequently. Besides this, after forking, Jade Protocol has also allocated a particular portion of the treasury for various usages, including marketing.
Further, JADE is the native token of the Jade platform. JADE is a free-floating cryptocurrency backed by the treasury supply of the BUSD (Binance USD). Each JADE has a backing of at least one BUSD. If the price of JADE falls below one BUSD, the protocol repurchases it and burns it, bringing the price back to 1 BUSD. A crypto token burns when it is delivered to an unusable wallet address to remove it from circulation. No one can access or assign such burn addresses. When a token is transferred to a burn address, it is permanently lost after burning the token, the supply of the token decreases, and the price increases. Jade Protocol uses the token burning process to keep the price of JADE at least equivalent to one BUSD. Jade Protocol's 10% treasury is for such buyback and token burn.
Furthermore, the protocol places no upper restriction on the possible price of JADE. JADE isn't tied to BUSD, but it is backed by it. Hence, the JADE token can maintain a constant floating value while never falling below the value of its underlying asset. The token price equals one BUSD plus premium, with "premium" representing market value. Besides this, bonds are another way for JADE to build its treasury. The protocol offers bonds in exchange for various assets, and the buyer receives JADE at a considerably reduced price. Bonds boost the treasury and allow Jade Protocol to provide returns to the users.
Additionally, the platform has achieved some targets like getting listed on major exchange platforms, creating handles on various social media platforms, launching jadeprotocol.io, etc. Jade Protocol is also seeking to deploy a multi-chain facility.
launched Jade Protocol. FLF is a group of intellectuals with the aim to improve and democratize well-known protocols. The foundation takes financial services that traditionally provide venture capitalists, insiders, and paid influencers early access or special treatment and redistributes them to the broader public. The foundation also examines the smart contracts and financial models these services use to maximize the public's return. The group opted to remain anonymous to ensure the safety of the team and the impartiality of the project.
Jade Protocol enables for users where stakers get rewards by vesting their JADE tokens on the platform. The rewards are dependent on the number of JADE staked in the protocol, and the monetary policy sets the reward rate. Staking is a long-term process. If the market price of JADE goes below the initial purchase price, the increase in staked JADE balance should eventually outpace the price reduction.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
The current market cap of Jade Protocol is $0.00. A high market cap implies that the asset is highly valued by the market.
The all-time high of Jade Protocol is $682.30. This all-time high is highest price paid for Jade Protocol since it was launched.
Over the last 24 hours, the trading volume of Jade Protocol is $157.02K.
The current circulating supply of Jade Protocol is 0.
No, Jade Protocol is not currently available on Coinbase, but you can sign up to get the latest news on Jade Protocol and be notified when it gets added to our exchange.
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