What is Wrapped Fujicoin?
Wrapped Fujicoin is a BEP-20 standard token issued on the Binance Smart Chain (BSC) with a guaranteed minimum exchange rate to the original Fujicoin.
See below for wrapped tokens:
Wrapped Fujicoin specifications
Contract ID: 0xda73AE86D38D9b5D22C64722320cCC071cB79ba3
Name: FJCB Fujicoin
Max Supply: 21M (same as bitcoin)
Total Supply: 992970 FJCB
Circulating Supply: 992970 FJCB
FujiBridgeBank's original FJC balance: FJC
You can verify the credibility of FujiBridgeBank by comparing FJCB's Circulating Supply with FujiBridgeBank's original FJC balance. If FujiBridgeBank's original FJC balance is more than 500 times the Circulating Supply of FJCB, FujiBridgeBank is trustworthy.
How wrapped Fujicoin works
FJCB Fujicoin can be stably replaced with the original Fujicoin (FJC). The FJC used for wrapping is stored in the wallet of FujiBridgeBank (tentative name). With this funding, FJCB can be unwrapped and returned to FJC at any time.
The official exchange rate for FJCB and FJC will increase every quarter.
Current official rate: 1 FJCB = 607 FJC (Since June 6, 2022)
There is always a buy order from FujiBridgeBank at the lowest price of FJCB in the market, so the price of FJCB will not fall below this. However, if the demand for FJCB is high, it is expected that FJCB will be traded at a price higher than the official rate.
- FJCB issuance management
- Maintenance of trusted FJC
- Guarantee of minimum exchange rate with FJC
1. FJCB issuance management
A demand survey will be conducted at the end of each quarter, and FJCB will be issued in consideration of market conditions.
If the demand is weak or the market price is weak, it will not be issued.
2. Maintenance of trusted FJC
Hot wallets are always at risk of hacking.
It is desirable to reduce the condition of the hot wallet as much as possible.
3. Guarantee of minimum exchange rate with FJC
Exchange with FJC will be done on AtomicDEX.
The exchange rate for FJCB is the official rate -1%, taking into account the AtomicDEX fee.
The minimum trading volume is FJCB equivalent to 10 M FJC .
For the time being, the FJCB buying operation will be executed on demand.
Benefits of using Wrapped Fujicoin
Wrapped Fujicoin allow original Fujicoin to be used on a Binance Smart Chain (BSC). Wrapped Fujicoin can increase liquidity and capital efficiency both for centralized and decentralized exchanges. The ability to wrap idle assets and use them on BSC can create more connection between otherwise isolated liquidity.
Wrapped Fujicoin allows the original Fujicoin to access Dapps such as PancakeSwap on the BSC. PancakeSwap is a decentralized exchange on BSC, but 24h volume is over $ 1 billion. Wrapped Fujicoin allows you to become a liquidity provider or trade with other tokens there. PancakeSwap does not require anyone's permission to go public. If you provide liquidity, you can immediately list any pair with any token.
Wrapped Fujicoin has the potential to dramatically improve the liquidity of Fujicoin.
Buy FJCB Fujicoin
FJCB Fujicoin is listed on Pancake Swap. So if you use a wallet that supports PancakeSwap such as MetaMask, you can buy FJCB right away. In addition to BNB, there are many tokens that can be used as trading pairs, such as BUSD, BTCB, and CAKE.
To be able to use MetaMask with Binance Smart Chain, please set MetaMask only once at the beginning. Then go to the Pancake Swap home page and connect to MetaMask. Then you can easily buy FJCB by opening the Exchange page and specifying the pair.
The above steps may seem a bit annoying, but in fact MetaMask has the swap feature integrated from the beginning. If you click the Swap icon and specify FJCB, MetaMask will connect to PancakeSwap and be ready for trading immediately.
FJCB is available in MetaMask, Trust Wallet and Binance Chain Wallet. You can also use Math Wallet, Ledger, TokenPocket, Bitkeep, ONTO, Safepal and Arkane.
The most popular MetaMask will be able to handle BEP20 standard tokens such as FJCB and BNB by
connecting to Binance Chain. Please refer to the following article for how to use MetaMask.
An Introduction to Binance Smart Chain (BSC)
How to Get Started with Binance Smart Chain (BSC)
Overview of PancakeSwap
PancakeSwap is the highest volume automated market maker (AMM) DEX (Distributed Exchange) running on Binance Smart Chain (BSC). It's basically a Uniswap clone.
Released at about the same time as BSC in September 2020, it rapidly expanded its market share as a low-fee escape destination from the soaring Gas price of the Ethereum chain.
For an overview of PancakeSwap, see the following article:
A Guide to Pancake Swap
Features of PancakeSwap
- There are no borders and no KYC is required.
- BSC transaction fees are overwhelmingly cheaper and faster than those on the ETH chain.
- Transaction fees are cheaper than Uniswap.
- It is operated fairly with the support of Binance.
- An incentive design that gives you a commission if you provide liquidity to the pool.
- The hurdles for listing are low and you can trade a variety of stocks.
Ethereum gas prices can cost hundreds of dollars per transaction during soaring prices. It is a level that you can not get the money unless you trade in units of 10,000 dollars.
However, on BSC, transaction fees are overwhelmingly cheap, and it is possible to finish faster.
The transaction fee for UniSwap and SushiSwap is 0.3%, while that for PancakeSwap is 0.2%.
When swapping tokens with PancakeSwap, you will pay a transaction fee of 0.2%, the breakdown of which is as follows.
・0.17% – Returned to the liquidity pool in the form of commission fees to liquidity providers.
・0.03% – Sent to PancakeSwap Treasury.
PancakeSwap trading volumes are on par with UniSwap, with 24-hour volumes often exceeding $ 1 billion. Compared to centralized exchanges, it is one of the top 10 scales.
Against this background, Pancake Swap is the best choice for FJCB's first application.
FJCB can be used with AtomicDEX, the most popular DEX wallet. Since the original Fujicoin FJC is listed in AtomicDEX, it is possible to swap with a pair of FJCB / FJC. You can easily swap with many other coins and tokens listed in AtomicDEX.
See below for Atomic DEX:
A recolored logo is used for the Wrapped Fujicoin to distinguish it from the original Fujicoin. Binance color is partly adopted to imagine that FJCB is a token on Binance Smart Chain.