Update on 2023-09-12
Token Symbol: JASMY3L
JasmyCoin is a data marketplace project where users are able to sell their data generated from the Internet of Things (IoT) devices to various businesses. JASMY is its native utility token that serves as the payment currency within the JasmyCoin data platform. The project consists of the following major components working in conjunction: 1.Data Marketplace: A data marketplace that enables individuals and businesses to securely exchange data. 2.Secure Knowledge Communicator (SKC): The distributed user authentication system, which provides personal data lockers to the users. 3.Smart Guardian (SG): Allows easy and secure registration of IoT devices to the JasmyCoin network. 4.JasmyNet: It is a data network in which only authorized member companies of the consortium can participate.
JASMY3L is a leveraged token that goes long on JASMY with 3x leverage, which means that for every increase in the price of JASMY in the market, the leveraged JASMY token seeks a 3x increase in its price. JASMY3L is required to maintain its target leverage and does so through dynamic rebalancing to gain a net value increase by 3% when the price of JASMY goes up by 1%.
Due to such rebalancing and investment costs, JASMY3L may suffer a net value loss when the market fluctuates. Please note, AscendEX’s leveraged tokens are not suitable for long-term investment. Investors must be cautious while investing in leveraged tokens and manage their investment risks in a timely manner.
Leveraged tokens differ from regular tokens for spot trading in that there is higher risk and volatility, which could bring about great returns or losses in a single day. Please learn more about leveraged tokens in our help center before making an investment.
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