Stable Tokens to Bridge the Asset Value Gap
Unlike most stable coins that typically only offer the US dollar as a pegged currency option, Jibrel offers a wide range of fiat currency equivalents with its stable tokens.
Jibrel’s project team is currently focused on rolling out Jcash, a suite of stable tokens pegged to fiat currencies (jUSD, jEUR, jGBP and jKRW). By having multiple fiat-pegged options, businesses throughout the world can use Jibrel’s stable coins to harness the power of smart contracts while avoiding volatile Ethereum that is usually associated with the pay-out of smart contracts.
“Jcash is the first launch of Jibrel’s asset-backed token solutions and will play an important role in the subsequent launch of future asset-backed tokens, such as commodities, debt instruments, real estate and other types of financial assets. More importantly, Jibrel Network Token (JNT), the backbone of the system, is used to provide instant liquidity, levy on-chain fees, and ensure users have visibility on the solvency of the system, we call this Proof-of-Solvency” – Talal Tabbaa, COO & Co-Founder.
In addition, Jibrel Network Token serves as ‘gas’ or ‘fuel’ to provide universal access to other products and services provided by the network and relevant Jibrel DApps.