JobCoin Prepares for Initial Exchange Offering (IEO) on BitKing
After completing the offering on CoinBene, JobCoin will move to its native exchange, BitKing, where it will also work as a base pair token.
JobCoin, the digital asset primed for international rebates, will move to the second stage of its IEO, with an offering on the BitKing exchange, the project announced in a statement to Cryptovest. The BitKing offering will also usher in a new use case for JobCoin, as a base pair token and as a mechanism to redistribute trading gains.
The IEO event will be held between May 15, 11:00 UTC, to May 16, 13:59 UTC, tailored to Japanese business hours. The token will be available for purchase through multiple digital assets on the BitKing platform, including BTC, ETH, BCH, XRP, ADA and XLM.
Following the listing, BitKing will start offering 200X leverage, a high-risk, high-return strategy that beats the BitMex 100X leverage. Thus, BitKing will be one of the more unique exchanges in the crypto ecosystem and will allow JobToken to be used as a margin in highly leveraged trading.
Initially, the BitKing exchange wanted to launch its own native token, but as it shared values with the JobCoin project, it decided to use the same token to achieve its high-leverage goal.
After the IEO, users will also receive bonuses based on a pledge to lock up the token. The bonus program offered is as follows:
- Locked for 1 month - 10％
- Locked for 3 months - 20％
- Locked for 6 months - 30％
- Locked for 1 year - 50％
The bonus program also acts in combination with the high-risk leverage of the exchange. For instance, if a trader leverages 100 JOB as a margin, they are eligible for the bonuses, thus receiving an additional boost to the margin available, especially if they hold for a year.
The JOB digital asset will be used in a pay-as-you-go technology, becoming one of the projects using the power of blockchain to build a network of ad-hoc micropayments. This helps the project reach the unbanked and offer an agile, timely tool for payments.
Nothing in this article is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. Crypto trading/investing and use of leverage is highly risky and all readers are advised to conduct their own due diligence.