4JNet Launches Own NFT Platform Focused On Transparency and Fairness

The industry for decentralized finance, often known as DeFi, has grown at an astonishing rate in the last year as bitcoin traders and investors seek security and anonymity from the prying eyes of the government and third parties.

Decentralized exchanges (or DEXs) are one area that has seen tremendous growth, with total volume transacted increasing from $4.38 billion to $34 billion in the last year, according to DeFi Pulse data.

As Bitcoin reached all-time highs last week, centralized exchanges saw a massive exodus of currency to personal wallets. According to CryptoQuant, Bitcoin reserves on centralized crypto exchanges have reached a new low of 2.3 million BTC, signifying a 10% loss since achieving a yearly high of 2.54 million BTC.

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This demonstrates that demand for non-custodial exchanges is increasing, necessitating the development of efficient, low-cost, and quick decentralized exchanges to address the demand gap. When it launches in 2021, 4JNet will provide users with a transparent, licensed, and fair DEX that allows them to conduct crypto transactions, exchange digital assets, and create non-fungible tokens (NFTs) with a few clicks of a button.

As previously stated, 4JNet is a decentralized exchange that will launch in late 2021 to revolutionize cryptocurrency trading and the minting of NFTs. According to the website, the development team plans to debut its exchange platform on December 1, 2021, with a variety of functions such as deposits, withdrawals, currency swaps, and its NFT marketplace.

4JNet is a fork of Safemoon’s code and concept that enhances some features of the platform to provide users with new innovations and a better, safer, faster platform. The exchange’s launch, according to the company’s website, intends to “build a fair, friendly, and profitable community to give individuals with safe, transparent, fair, and decentralized blockchain products.”

Improvements

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To begin, 4JNet assures that the contract completely controls the fee rate for adding liquidity. The cremation of the recovery rights in the liquid wallet ensures that the liquidity is permanently protected. Handling fees linked to dividends of all currency holding addresses are set as an immutable constant in Safemoon, unlike Safemoon. Furthermore, the 4JNet team’s initial liquidity certificate will be sent to a black hole address, ensuring that no alterations are made to the contract.

Vision

According to the team’s statement, there will be 5,000 limited-edition NFTs accessible during the minting process. The minting process will begin on December 1, 2021, offering consumers the opportunity to purchase and own some of the most uncommon and distinctive NFTs developed on the Binance Smart Chain. At the time of writing, the price of each NFT has been cut from 3 BNB ($1800) to 1 BNB ($600), with one-third of the NFTs already sold out.

4JNet intends to launch its native tokens and will compensate NFT holders with a portion of the maximum supply cap of 60 billion tokens. Aside from token benefits, NFT holders will also benefit from a 3 percent service charge reduction on all platform transactions. Finally, users will be able to freely exchange their digital assets, and the interest earned on the sale of the NFTs will be credited to their accounts with the NFTs.

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If the NFTs sell out before the deadline, the clock will be reset to 72 hours, allowing customers extra time to buy the NFTs. The initial transaction cost for an NFT will be 90%, with fees expected to decrease by around 0.1 percent with each subsequent sale until it reaches the minimal cap of 10%.

According to the website, 6 percent of the transaction fee is used as dividends, and the remaining portion is sold and repurchased to provide liquidity on the platform. As previously stated, 4JNet’s initial liquidity certificate will be transferred to the black hole smart contract, which can be verified here.

Features

The 4JNet vision is to provide a fair, user-friendly, and secure platform in order to foster a flourishing community. The NFT marketplace and its future exchange are intended to “pursue the values of security, transparency, fairness, and decentralization brought about by blockchain technology.”

As the new metaverse struggles to develop secure and audited smart contracts, the number of frauds and hacks in the blockchain ecosystem has soared. 4JNet intends to address this issue by establishing a stable and transparent initiative that supports security and fairness. 4JNet has integrated several advancements and features on its platform to ensure this is implemented.

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  • MSB license: 4JNet Technology Limited was granted an MSB license, which means it can provide money services to clients all around the world, including US nationals. 4JNet, which the US government has authorized, has joined the first-class group of exchanges, which includes Coinbase, Huobi, Binance US, and others.
  • Audited smart contracts: CertiK audits the platform’s smart contracts to ensure the safety and security of users’ data. The blockchain network security firm ensures that the blockchain ecosystem and smart contracts are secure.
  • Transparency and fairness: By instituting a 90 percent withheld service charge, 4JNet ensures that the network is free of dumping whales and early investor dumps. This inhibits early investor dumping and makes NFT sales equitable for all investors on the platform. Furthermore, all business logic is implemented using smart contracts, and all contract addresses and scripts are completely open-sourced.
  • Widespread adoption: In addition to the built-in capabilities, 4JNet has a large network of advertising to help drive the adoption and sales of its NFT projects, such as NASDAQ billboards and major websites like Coingape and other top-rated websites.

Final Words

With the rise of NFT scams and low liquidity DEXs, 4JNet provides users with a breath of fresh air in the ecosystem. Every user on 4JNet is promised a pleasant and engaging experience on the platform by assuring fairness and transparency. Finally, the platform’s growth will match with the value of its native tokens, increasing the value of NFT owners through the tokens they will get.