The JEX team successfully launched its European options product on December 28, 2020. Once product operations begin to generate profit, the JEX team will use 8% of the net profit generated from its European options product (80% of the team incentive) for a JEX token clawback and burn. This decision will take effect starting in Q1 2021. The amount of funds that will actually be clawed back will depend on the actual settlement amount. The exact amount of funds as well as the amount of tokens to be clawed back will be published each quarter in a clawback announcement.
The JEX team will make European options a top priority in their work over the next stage. The team plans to put full effort into optimizing product promotion, working with Binance to expand its product reach and to upgrade the current JEX platform product line.
By increasing the value of the JEX token through profit clawback, the team intends to double down its efforts to repay the loyal supporters of the JEX platform with concrete actions.
Thank you for supporting Binance JEX!
The JEX Team
January 7, 2021