Jade Protocol the $OHM fork bringing real utility to holders

Jade Protocol, a Binance Smart Chain fork of OlympusDAO is changing the narrative of crypto forks with its gamified approach to creating increased utility. The blockchain protocol is the first decentralized venture capital fund that new projects can access in the crypto world. 

Solving an existing problem

The blockchain space is an ever-evolving ecosystem, and innovations continue to drive the evolution of finance. For example, OlympusDAO successfully introduced the concept of a decentralized reserve currency model as an alternative to stablecoins on the Ethereum blockchain earlier in 2021. 

Unsurprising, the success of OlympusDAO has led to several forks of its protocol on different blockchain protocols. However, most of the forks in the market are essentially Ponzi schemes spun by developers and unsustainable long-term. They require investors to continually pump money into the system and are likely to collapse. 

Like Ponzi schemes, most OIympusDAO forks promise huge APYs to lure investors in the hope that the project will grow. Jade Protocol is upfront about these risks with a clear plan to move from a high-APY marketing push into a utility-based model designed to ensure sustainability and provide real value to users. 

An innovative decentralized venture capital fund

Jade Protocol is DeFi’s first decentralized VC fund and will fairly launch and incubate new crypto projects in Web3 and the blockchain industry. Built on a sustainable Olympus-style framework, the project intends to use the Jade Protocol treasury to vet, fund, and launch innovative development teams and projects within the crypto space and beyond. 

This solves a critical aspect in the finance market: access to funds for innovative startups and reduces the barrier of token holders to accessing venture investing opportunities. 

As a truly decentralized project, DAO members and stakeholders can vote on key aspects of each project using snapshot on-chain voting. This ensures a transparent and progressive decision-making system. 

The central idea behind the decentralized VC fund is that as investment projects become profitable and bring in revenue, the Jade Protocol treasury will grow, helping the native token $JADE grow in value. 

Jade Protocol also provides investors with more earning opportunities to stake their tokens on the Binance Smart Chain (BSC). BSC is one of the fastest and cheapest blockchain networks, and users spend less than a dollar on transactions. In comparison, OlympusDAO was initially launched on Ethereum, where transactions can cost as high as $200. 

The cheaper transaction fees mean that JADE treasury will be able to maintain more value and auto-compound at frequent intervals, increasing yield compared to Ethereum. 

Backed by key stakeholders in the blockchain industry 

Jade Protocol is a project that has the backing of top blockchain projects and has a team with experience in the financial and tech industry. It consists of lead developers from Google and Amazon, academics, a game architect and a financial expert from Y-Combinator. 

So far, Jade Protocol has already launched two massive ecosystem tokens in less than 60 days (SmartCoin/JADE) that has grown to a collective market cap of nearly $400 million. This is a massive milestone and showcases how real utility bootstrapped from a decentralized crowdfunding system can significantly impact the crypto industry. 

Jade Protocol has also proposed new products and features, including the Hyper Growth Fund, which presents real utility for its treasury. In addition, JADE stakers will become members of a DAO that will vote on which projects and teams are worth funding. 

This contrasts with the conventional venture capital model, where a few people make decisions and benefit from windfalls. Stakers can also participate in the current airdrop program and benefit from up to $3.33 million weekly airdrops in BUSD. To learn more about Jade Protocol visit the links below. 

Website: https://jadeprotocol.io/

Twitter: https://twitter.com/jadeprotocol

Telegram: https://t.me/jadeprotocolofficial

Discord: https://discord.gg/smartcoin

Medium: https://medium.com/@SmartCoin

Disclaimer: This is a paid post and should not be treated as news/advice.