Overview
In line with our continuous efforts to move towards decentralized governance for token holders, Jibrel Network Token (JNT) will be replaced by Tranche Token (SLICE).
On February 28th, 2021, JNT holders will be airdropped SLICE tokens at a ratio of 10:1. JNT holders do not need to perform any action to receive SLICE. After the airdrop, JNT will be paused and users will not be able to transact using it.
JNT Contract Address: 0xa5fd1a791c4dfcaacc963d4f73c6ae5824149ea7
SLICE Contract: 0x0AeE8703D34DD9aE107386d3eFF22AE75Dd616D1
SLICE Source Code: https://github.com/tranche-jibrel/token-protocol
If you are still holding JNT on HitBTC or Bibox(or any other centralized exchange), please move your tokens out of these exchanges and move them to Bittrex, Gate or your personal ETH wallet.
Why are we doing a token swap?
- To introduce voting functionality: the updated token introduces a voting functionality that empowers holders with the capability to vote on various proposals and governance issues. The weight of each vote will be proportional to the number of tokens held by the voting address.
- To increase token decentralization: One of our main goals behind the token swap is moving towards a more decentralized token. We have therefore removed the “God Mode” feature in our new SLICE token contract which previously allowed the smart contract owner to freeze, destroy or create tokens.
- To improve gas efficiency: We have refined our token design into a minimalistic structure that requires less processing and storage costs when a transfer is invoked. The new token will therefore have much cheaper gas fees associated with it.
SLICE Initial Utility
Shortly after the completion of the airdrop, users will be able to:
1- Participate in Governance
SLICE token holders govern the Tranche platform, treasury and eco-system. The token aims to codify the alignment of incentives between token holders, development team, community members and the platform users (borrowers, lenders, creators and 3rd parties). Users can submit Tranche Improvement Proposals (TRIPs) to suggest any changes to the protocol.
To learn more about the Tranche ecosystem governance and tokenomics, read the docs.
2- Earn rewards by providing liquidity to AMM/DEXes
SLICE token holders can start providing liquidity for the token pairs that will be available on Uniswap, namely SLICE-ETH and SLICE-DAI . By providing liquidity, token holders received Liquidity Provider (LP) tokens that automatically receive a portion of the rewards generated by the pool’s trading fees. Moving forward, a TRIP can be offered to add to additional AMM/DEXes.
3- Stake SLICE or SLICE-LP tokens to provide liquidity for the Tranche protocol
After providing liquidity on Uniswap, users can lock their SLICE-LP(from Uniswap) tokens on Tranche to earn additional SLICE rewards. SLICE tokens that are used for rewards are not minted by inflation, rather, they are bought from any fees generated by the Tranche Protocol. Additionally, users can simply stake SLICE directly through Tranche .
Staked tokens will be placed in a backstop module. This module will be only be used in the rare event that market rates for integrated protocols drop below the fixed rate offered by Tranche A and the community does not successfully pass a Major TRIP to reduce fixed rates, creating a deficit. You can learn more about our Tranche offerings in our docs.
Thank you for your continued support! Get involved with governing the new Tranche protocol!
Follow and discuss the Tranche Protocol on Discord!
