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MSB-Licensed 4JNET Launches Crypto Ecosystem, Announces NFT Incentive Program

Mon, 11/22/2021 - 12:45
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Vladislav Sopov
4JNET DeFi passes security audit, obtains MSB license
MSB-Licensed 4JNET Launches Crypto Ecosystem, Announces NFT Incentive Program
Cover image via U.Today

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Contents

Here’s how the new-gen cryptocurrency ecosystem invites crypto professionals and newcomers to the cutting-edge DeFi and NFT practices of 2021.

Introducing 4JNET, a regulatory-compliant DeFi solution with a native token

Launched in Q2, 2021, 4JNET is an all-in-one cryptocurrency ecosystem that offers cryptocurrency enthusiasts with various levels of expertise the chance to earn rewards for holding and transacting 4JNET tokens.

4JNET leverages the Binance Smart Chain (BSC) platform, a smart contracts hosting environment by world-leading centralized cryptocurrency exchange Binance (BNB).

The protocol has a unique rewards and fees model. At its core, it is a deflationary scheme: the holding and usage of 4JNET tokens will be more and more profitable over time. The initial transaction fee for 4JNET is 90%.

For each subsequent transaction, the 4JNET transaction fee will be reduced by 0.01%. Eventually, this rate will drop 10%. These sums will be used for direct rewards generation and the liquidity initiatives driven by the 4JNET team.

That said, 6% of commissions raised will be used for dividends, while the remaining part will be used by 4JNET to repurchase tokens. By doing so, it will stimulate the liquidity ecosystem of the 4JNET community.

The aggregated token supply of 4JNET is limited to 1,000,000,000,000,000 tokens. To reaffirm the fair and transparent character of the product, its team is going to transfer its initial liquidity certificate to a “black hole address” so that nobody will be able to adjust its principles.

Being 100% regulatory-compliant is among the core focuses for the 4JNET development team. As such, in June 2021, it applied for a Money Services Business (MSB) license from the Financial Crimes Enforcement Network, a bureau of the United States Department of the Treasury.

On June 4, 2021, it was granted FinCEN’s MSB license to assure that 4JNET Technology Limited is a legitimate business that can process users’ money. This license can be obtained through the MSB Registrant Search service.

Also, the project holds a “Certificate of Good Standing” issued by the State of Colorado. This document is signed by the secretary of state and is to certify that 4JNET Technology Limited is compliant with all requirements issued by the Colorado state authorities. Additionally, the product is “in good standing” with the state.

As such, 4JNET is among few products of the decentralized finances (DeFi) segment that has achieved the highest level of regulatory compliance in the United States.

NFT initiative launches after third-party security audit

To reward its early supporters, token holders and liquidity providers, 4JNET introduces a large-scale non-fungible token distribution. In total, its team minted 5,000 exclusive NFTs.

Besides holding rare NFTs, its holders will be able to claim additional 4JNET tokens and have its service charge reduced by 3%. While NFT holders can trade and exchange their NFTs freely, a fraction of secondary sales commissions will be distributed between all ecosystem participants.

To ensure that interacting with its smart contracts is 100% secure, 4JNET ordered the security audit of its codebase from one of the leading cybersecurity vendors, CetriK. The results are shared on CertiK’s transparency dashboard: no critical vulnerabilities have been found.

As such, 4JNET proved to be a highly secure and transparent DeFi protocol with a lucrative passive income program and NFT-centric initiatives.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)