STOCKHOLM, March 11, 2022 /PRNewswire/ -- JS Security Technologies Group AB ("JS Security" or "the Company") announces today that the Company will begin work on the market listing of its own JS Security token ("JSTX"), a so-called "Crypto token". Initially, the work will include dialogue with possible marketplaces and review the legal aspects.
JS Security begins work by listing its own crypto token JSTX. Initially, the work means that JS Security will engage in dialogue with several leading marketplaces for trading in cryptocurrencies, and then continue to work according to the Company's schedule.
The background to this is that the Company sees a major upside in integrating JSTX as an incentive system for node operators, i.e. persons who today free of charge choose to allocate storage space to the Company's P2P network. This creates great earning opportunities for the Company's existing and future node operators.
Initially, a large part of the total number of JSTXs will remain with JS Security. This will create additional net asset value and a financial reserve for the Company. It is important to emphasize that JS Security does not intend to speculate with JSTX. The purpose is to be able to offer an incentive model for the Company's node operators.
Below is a timetable for the process of listing JSTX:
Q2-Q4 2022:
- Choice of an underlying blockchain platform.
- Begin the construction of a "JSTX community".
- Distribution of "pre-tokens" for distribution in "communities" and via the media.
Q1 2023:
- Opportunity to pre-purchase JSTX before listing.
Q2-Q4 2023:
- Connect JSTX with the Company's platforms.
- Listing of JSTX on a decentralized exchange (DEX).
- Listing of JSTX on a marketplace (eg Binance, CoinBase, etc.).
- The incentive model is integrated into JS Security's platforms and earnings for the Company's node operators are activated.
- Listing of JSTX on a centralized exchange (CEX).
"Introducing tokenization to the vision of JS Security is unique and exciting. This once again confirms the extremely deep knowledge that our development team possesses. I truly believe that this will disrupt the storage industry and bring decentralization with our store-to-earn model. I'm looking forward to keeping pushing forward and taking the Company's vision and objectives to the next level on this incredible journey.' says Bibek Koirala, Senior Blockchain Developer, JS Security.
"As of now, node operators allocate their storage space to our P2P network free of charge. For us to be able to grow the network at the pace and to the scale we want, a form of incentive system will be needed. We see endless possibilities with integrating crypto tokens as incentive systems to the Company's various platforms. We thus still maintain our good margins on storage, but can still "pay" the node operators in some way." says Christopher Ramstedt, COO and Head of Investor Relations, JS Security.
For further information, please contact:
Christopher Ramstedt, COO & Head of Investor Relations
Telephone: +46 8-520 278 76
Email: ir@jssecurity.tech
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https://news.cision.com/js-security/r/js-security-begins-the-process-of-listing-its-crypto-token---jstx-,c3523200
The following files are available for download:
https://mb.cision.com/Main/20433/3523200/1547189.pdf | JS Security begins the process of listing its crypto token, "JSTX" |
https://mb.cision.com/Public/20433/3523200/8db088486f52f2d5.pdf | Roadmap - JSTX |
