Jubi will launch JuFi mortgage lending function to support users to pledge digital currency to obtain JUSD. Open for three JUSD trading pairs:
JT/JUSD at 18:00 (UTC+8), Sept. 1st, 2020;
JUSD/USDT at 21:00 (UTC+8), Sept. 1st, 2020.
What is JuFi?
JuFi is the abbreviation of Jubi Finance. It is committed to creating more efficient and transparent new financial products, at the same time it is another important part of Jubi Jubi ecology. JuFi 1.0 is between DeFi (decentralized finance) and CeFi (centralized finance), and it will gradually develop from centralization to decentralization in the future.
What is JUSD?
JUSD is a stable currency generated by pledge, which is strictly 1:1 anchored to the U.S. dollar, providing users with safe, stable and convenient digital asset services. It has already been applied in terms of pledge loans and transfers.
Pledge lending rules
1. Pledge lending means that users can simultaneously borrow JUSD by staking a digital asset;
2. The staking currency will be gradually increased according to the platform plan;
3. Jubi will support more JUSD pairs in the future. Assets can be freely deposited and withdrawn after the transaction;
4. The loan interest will be generated by pledge loan, and the interest rate will be calculated according to the value displayed on the page when the loan behavior occurs. The principal and interest are repaid when the loan is repaid;
5. Loan assets need to be returned on schedule when the loan period expires, but early repayment is not supported temporarily.
What is JFI?
JFI adopts the mechanism of pledged loan mining, which is generated in every loan business in the JuFi sector. That is, from the interest charged by the lender, the JFI is dynamically converted according to a certain proportion, and the borrower is subsidized to improve the liquidity of platform assets.
Due to the large increase in the JFI secondary market and in order to protect the rights and interests of investors, the 900,000 JFIs originally scheduled for the joint curve auction will no longer be in circulation and all will be destroyed. After the destruction, the initial circulation of JFI is 100,000 (which has been airdropped to eligible JT holders), 10 million are produced through pledged JT mining and the rest 10 million are produced through liquidity mining.
Loan mining rules
1. Users can obtain JFI's mining rights during the use of pledge loan service;
2. Each natural month is a mining cycle (i.e. from the 1st day of each month to the end of each month). The JFI output of each mining cycle is 1% of the total amount of remaining mineable ore, i.e., the initial 10 million JFI to be excavated, the first month's mining output is 100,000 JFI, and the next month's mining output is (10 million-100,000) * 1%, that is, 99,000 JFI, and so on;
3. The amount of JFI obtained by the user in the daily mining cycle = the JFI output of that day * the pledge amount of the user / the pledge amount in the mining period of the platform;
4. JFI is calculated on the second day of each loan and displayed on the third day. All JFI will be issued when loan repaid.
Assuming a total of 20 million JT pledges for mining in the first month (JT price is assumed to be 0.14 U), the pledge rate is 50%. That is, users can obtain by pledge: 20 million *50%*0.14=1.4 million JUSD (US dollar stable currency). Assume that the mortgage loan has a monthly interest rate of 1%. That is, the total interest for the first month is 14,000 JUSD, and the output is 100,000 JFI (worth about 370,000 USDT, the current JFI market price is 3.7 USDT). For example, if the user borrows 10,000 JUSD, the interest is 100 JUSD, and the mining income is 715 JFI (worth about 2,645 USDT).
In summary, monthly return calculated based on the total value of loan JUSD is 26.45%, and monthly return calculated based on the total value of loan interest is 2645%.
Risk Warning: Digital currency is a high-risk investment method. Investors are advised to purchase with caution and pay attention to investment risks. Jubi shall not be liable for guarantee and compensation for investment.