As required by the relevant regulatory policies, Binance JEX will close derivatives businesses such as options and contracts, and stop the registration and KYC certification of Chinese users. Binance JEX will adjust business in accordance with legal regulations. Based on the principle of token accountability, the BinaryX team will be taking over the Binance JEX project. BinaryX will also be providing 1.68 million BNX tokens to replace the total circulating supply of 872,238,022.3599 JEX Tokens.
So far, 1,018,576.3901 JEX Tokens have already been burnt, and the team's current holdings of 800 million JEX Tokens as well as the 326 million JEX Tokens in the investor protection fund (totaling 1.126 billion JEX Tokens) will be sent directly to the burn wallet without participating in equity swaps.
Specifically, the token swap will take place as follows:
- Who is eligible: JEX Token holders
- Swap time: Starting from October 20th, 2021
- Token swap scheme:
- BNX tokens will be released in two phases:
Phase 1: Release and Swap 400,000 BNX Tokens
Scheme: Release 200,000 BNX Tokens in October 2021, and 100,000 BNX Tokens in November and December 2021, for a total of 400,000 BNX Tokens to be released in Q4 of 2021.
Phase 2: BNX Miner Swap
Scheme: Starting January 1, 2022 (UTC), each month, users will be able to swap 8% of the BNX Token they mine that month until the number of released tokens reaches 1,680,000 BNX Tokens (including the 400,000 BNX Tokens released during Phase 1).
How to swap your JEX for BNX:
1) Transfer from CeFi to DeFi: Transfer your JEX Tokens from the Binance JEX platform to your BSC wallet.
2) Transfer JEX Token to the BNX airdrop contract address on the Airdrop page.
3) Click the Get BNX button and confirm the transaction in your wallet.
The amount of BNX Tokens you receive = Amount of JEX you burn / 872,238,022.3599 × Total number of BNX released during the current period.
The current total supply of JEX is 1,998,981,423.6099.
The total amount of JEX held by users that is eligible for the swap is 872,238,022.3599.
The 700,000,000 JEX held by the team and the 326,000,000 JEX in the investor protection fund (totaling 1.126 billion JEX) will be burned without participating in equity swaps.
Thank you for all the support you've given JEX along the way.
Binance JEX Team
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Official Chinese Telegram Group: https://t.me/binaryxOfficial