What is Jade Protocol
Jade Protocol is a decentralized reserve currency platform on Binance Smart Chain. Unlike DAI or USDC, which are pegged to the value of the U.S. dollar, JADE's reserves are crypto assets held by the Jade Protocol Treasury. JADE is a free-floating currency backed by our treasury supply of the stablecoin BUSD. Each JADE is backed by at at least 1 BUSD. If JADE ever trades below 1 BUSD, the protocol buys back and burns JADE, pushing the price back up to 1 BUSD. There is no upper limit imposed by the protocol to the potential trading price of JADE. JADE also expands its treasury through bonds. Bonds are sold by the protocol for different assets, and in return the buyer receives JADE at a significantly discounted price. This increases the treasury and enables us to produce incredible yields for our users. JADE is backed by BUSD, not pegged to it. This allows the JADE token to achieve a stable floating value, while never falling below the value of its backed assets. The token price is designed to equal (1 BUSD + Premium), with "premium" reflecting market value.